The global flame retardant (FR) based textile chemical market is expected to reach an estimated US $ 0.8 billion by 2028 with a CAGR of 5 per cent from 2023 to 2028.
The future of the FR based textile chemical market looks promising with opportunities in the apparel, home textile, and technical textile markets due to rising concerns towards enhancing the safety of textile, especially in application where they are prone to fire hazards and increasing government fire safety regulations that need compulsory compliance by retardant manufacturers.
A report Flame Retardant based Textile Chemical Market by Reportlinker.com says that major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain.
Dow, BASF SE, Wacker Chemie AG, Huntsman Corporation and Solvay are few of the leading companies in this segment.
Regarding raw materials and final products covering the textile chemical market, natural fibre will remain the larger segment over the forecast period as these are environmentally-friendly, which is widely used in yarn and fabric forms in the textile sector. Apparel is expected to remain the largest segment due to the high demand for flame retardant clothing in manufacturing industries where workers are exposed to fire hazards.
Asia-Pacific (APAC) will remain the largest region due to rapid industrialisation and urbanisation, mainly in developing countries, such as Thailand, Malaysia, Singapore, and India, has increased the demand for the flame retardant based textile chemicals in the region.
