NON-HALOGENATED FLAME RETARDANT MARKET ANALYSIS

Non-Halogenated Flame Retardant MarketSize and Trends

Global Non-Halogenated Flame Retardant Market - Impact of Coronavirus (COVID-19) Pandemic

The recent coronavirus outbreak negatively affected the market for non-halogenated flame retardant. The severe disruptions in various manufacturing and supply-chain operations caused by various precautionary lockdowns imposed by governments to combat disease spread result in massive financial losses for the market. As a result of the COVID-19 pandemic, the production of electronics parts has been halted due to a logistical bottleneck and a global shortage of manpower. On the other hand, non-essential items (including most electronics products) are no longer being delivered by numerous e-commerce sites around the world, which is harming the electronics industry. This will have a significant impact on the market for non-halogenated flame retardant in the electronics sector, which is the largest market for non-halogenated flame retardant. Additionally, the usage of non-halogenated flame retardant are used in the construction industry, however the shutdown of construction projects is limiting the market growth during the pandemics. Over the forecast period, the described factors will have a negative impact on the market's revenue growth path.

On the positive side, as COVID-19 cases decline, the market is expected to revive as individual regulatory bodies begin to relax these enforced lockdowns. The operations that have been halted and canceled will continue, and as a result, it is anticipated that the market will grow. As a result, the market will recover and grow, following COVID-19.