Rise in safety standards in building construction and increasing infrastructure activities are expected to drive the demand of global flame retardants market in the forecast period, 2023-2027.
According to TechSci Research report, “Flame Retardants Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global flame retardants market is anticipated to witness steady growth in the forecast period, 2023-2027. Flame retardants are substances that are used to lower the fire intensity or slow or stop the spread of fire. The most commonly used flame retardants are phosphorous, bromine, and chlorine. They stop the fire by reacting with the fire cycle and controlling the chemical chain reaction in the gaseous phase. Consumers are increasing focus on improving the fire safety of combustible products and materials is accelerating the adoption of flame retardants to manufacture consumer and electrical goods. Fire retardants are also used to safeguard modern equipment and materials, for example, circuit boards, engineering thermoplastics, cables, building insulation, and other materials. Market players are investing in the development of non-halogenated products and are looking for fewer toxic products to change the product composition, which is expected to create lucrative growth opportunities for the global flame retardants market in the next five years.
However, the growing environmental and health concerns of halogenated flame retardants are expected to restrain the market growth in the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on “Global Flame Retardants Market“
The global flame retardants market is segmented into product, polymer, application, regional distribution, and competitive landscape.
Based on product, the global flame retardants market is divided into non-halogenated, halogenated, and others. Non-halogenated products are expected to hold the largest market share in the forecast period. The non-halogenated segment is further segmented into aluminium trihydroxide, organophosphorus compounds, antimony oxides and the halogenated is segmented into brominated & chlorinated. Aluminium trihydroxide are expected to dominate the market in the forecast period. They have a lower environmental impact and are cost-effective than the other type of products in the market.
Based on polymer, the global flame retardants market is divided into polyamide, polyesters, epoxy, polyolefin, vinyl ester, polyurethanes, and others. The polyolefin segment is expected to dominate the market in the forecast period due to the increase in the use of polyolefin as plastic for numerous applications. Polyolefin fabrics such as automotive fabrics, construction fabrics, components in trains and planes, and mattress covers require the use of flame retardants. Flame retardants lower the flame spread, restrict smoke formation and prevent the polymer from dripping.
Based on application, the global flame retardants market is divided into construction, electrical & electronics, manufacturing, textile, automotive, and others. The construction segment is expected to account for the largest market share in the forecast period. Flame retardants are required in the building for insulation of structural elements, cables, and electrical wirings. The high demand for flame retardants from North America and the Asia-pacific region in the building and construction industry due to strict fire safety regulations is expected to fuel the global flame retardants market growth through the next five years.
Based on regional analysis, the Asia-pacific region is dominating the market and is expected to maintain its dominance in the forecast period. Growing safety concerns and the high demand from end-user industries in the region are majorly driving the market demand. South Korea, Taiwan, and China are among the leading global players. The large-scale manufacturing of electronic products in the region is expected to fuel the global flame retardants market growth for the forecast period.
Major market players operating in the global flame retardants market are:
- Lanxess AG
- The Dow Chemical Company
- BASF SE
- Clariant Corporation
- Dover Chemical Corporation
- Nabaltec AG
- Akzo Nobel N.V.
- ICL Industrial Products
- Broadview Technologies Inc.
- Asahi Kasei
- Adeka Corporation
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“The growing automotive industry and the high usage of brominated flame retardant-hexabromocyclododecane (HBCDD) in insolation panels, automotive textiles, and plastic cabinets of automobiles are expected to create massive growth potential for the global flame retardants market in the forecast period. The increasing incidences of fire accidents have accelerated the demand for material with flame-retarding properties to ensure the safety of passengers. Automotive engineers are constantly looking at different materials that can meet national, international, and industry standards and reduce the vibration, noise, and harshness in an automobile. The high production and sales of automobiles and the introduction of advanced flame retardants materials meeting different industry requirements are expected to propel the global flame retardants market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Flame Retardants Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Non-Halogenated (Aluminium Trihydroxide, Organophosphorus Compounds, Antimony oxides) Halogenated (Brominated & Chlorinated), Others) , By Polymer (Polyamide, Polyesters, Epoxy, Polyolefin, Vinyl Ester, Polyurethanes, Others), By Application (Construction, Electrical & Electronics, Manufacturing, Textile, Automotive and Others), and By Region”, has evaluated the future growth potential of global flame retardants market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global flame retardants market.
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