PRNewswire via COMTEX/ -- Flameret, Inc. (flre:OTCBB), a leading provider of flame retardant products to various industries, today announced that it has received significant interest from Chinese manufacturers for its patented flame retardant products. The initial interest from China has come from manufacturers in the construction sector but current trends indicate that the company should begin to receive interest from other vertical markets such as the mattress and furniture industries.
Recent reports have projected that the Asia/Pacific region will remain the fastest and largest growing region in the world for flame retardant products, accounting for half of all worldwide demand by 2014. In 2010, China used 354,500 metric tons of flame retardant products, surpassing the United States to become the world's largest market for flame retardant additives. The Asia Pacific region accounted for 41% of global demand in Europe, followed by North America and Western Europe.
Christopher Glover, Chief Executive Officer of Flameret, Inc. commented, "We are receiving strong interest from Chinese manufacturers because of the unusual characteristics of our solution. Our solution is non-toxic, non-staining and emits no odor while meeting the most stringent of flammability standards throughout the world."
Mr. Glover added, "Our industry is expected to see massive growth over the next 5-10 years. Regardless of the world economy, even the most conservative estimates are projecting that manufacturers of flame retardant products will experience unprecedented growth through 2018."
Glover concluded, "We expect to be a major player in this multi billion dollar industry."
The worldwide market for flame retardant products is expected to surpass $5.8 billion in 2018.
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