Market Definition:
The Global Flame Retardants Market was valued at $8.20 billion in 2021, and is expected to reach $13.60 billion by 2030, with a CAGR of 5.9% during the forecast period 2022-2030. Flame Retardants are a diverse group of chemicals that are applied on textile, wood, plastic or semiconductors in order to prevent fast growth of fire. Use of flame retardants play a vital defensive role in saving property and lives by decreasing the fire risk associated with the usage of highly combustible materials in products such as plastic, textile and many more. For instance, steel is coated with flame retardants to provide thermal insulations in case of fire. Flame retardants are also used in forest fire in order to reduce the speed of fire spread.
Market Dynamics and Trends:
Flame retardants market has been witnessing rapid growth in sales due to the growing industrialization and rising number of newly constructed commercial buildings. Flame retardants, when added to materials increases its durability and makes it fire-proof. For instance, in the aircraft manufacturing industries, flame retardants are used in panels, carpet and flooring to minimize the risk of fire. Furthermore, the high productivity and low cost are some of the factors leading to the growth of flame retardants market.
On the contrary, the health risks associated with flame retardants such as endocrine disruption, reproductive toxicity, cancer, etc. hinders the market growth. However, the producers of flame retardants have responded to these concerns, and are developing more environmentally compatible products, mainly non-halogenated alternatives. Also, the sudden growth in demand for flame retardants in industries manufacturing aircrafts, vehicles, electronic appliance, buildings and many more to avoid fire and for other applications, will be the key factor providing opportunities for the flame retardant market growth.
Market Segmentations and Scope of the Study:
The global flame retardants market has been segmented on the basis of type, application, end use industry, and geography. Based on type, the market is divided into alumina tri-hydrate, brominated flame retardants, antimony trioxide, phosphorus flame retardants, and others. On the basis of application, the global flame retardants market is bifurcated into unsaturated polyester resins, epoxy resins, PVC, rubber, polyolefins, and others. By end user industry, the global flame retardants market is segmented into construction, automotive & transportation, electronics, and others (textile, aerospace, and adhesives). Geographically, the global flame retardants market is segmented into North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North-America has been dominant in the consumption of flame retardants compared to other regions due to the increasing fire safety regulations. According to the report, North America itself has around 8 million buildings which require fire safety measures. Furthermore, the expansion of industries and the construction of innumerable commercial buildings with proper fire safety measures is another reason favouring the growth of flame retardant market. However, the region of Asia Pacific will witness greater consumption of flame retardants due to the rapid rise in population and migration of people from rural to urban areas making it densely populated.
Competitive Landscape :
According to the report, the leading manufacturers of flame retardents are Broadview Technologies Inc. The Dow Chemical Company, BASF SE, Clariant Corporation, Dover Corporation, Akzo Nobel N.V., ICL Industrial Products, Albemarle Corporation, Nabaltec AG.,Lanxess AG. These players have been investing huge capital in R&D activities to develop advanced products to cater to the demand of end users,
Key Segments:
Global Flame Retardant Market- By Type
- Brominated Flame Retardants
- Alumina Trihydrate
- Antimony Trioxide
- Phosphorus Flame Retardants
- Others (Chlorinated Flame Retardants and Boron Compounds)
Global Flame Retardant Market - By Application
- Unsaturated Polyester Resins
- Epoxy Resins
- PVC
- Rubber
- Polyolefins
- Others (Engineering Thermoplastics and PET)
Global Flame Retardant Market - By End Use Industry
- Construction
- Automotive & Transportation
- Electronics
- Others (Textiles, Aerospace, and Adhesives)
Global Flame Retardant Market - By Geography
- North America
- U.S.
- Mexico
- Canada
- Europe
- Germany
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- RoW
- Brazil
- South Africa
- Turkey
- Remaining countries
Table of Contents
1. Introduction
2. Flame Retardants Market - Executive Summary
3. Market Overview
4. Flame Retardants Market Share Analysis
5. Global Flame Retardants Market, by Type
6. Global Flame Retardants Market, by Application
7. Global Flame Retardants Market, by Enduser Industry
8. Global Flame Retardants Market, by Region
9. Company Profiles
Executive Summary
Flame Retardants: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030Increase in safety concerns, avoid short circuit in electronic appliances are key driving factors accountable for flame retardants market growth.
Flame Retardants are the chemicals used in various industries such as fabrics, and others to make them fire resistant. These are added to the thermo plastic vulcanizate elastomer in low concentrations according to restriction of hazardous substance to increase the heat resistance properties and reduce the fire spread. Overall, the flame retardants are used to prevent fire outbreaks from becoming the catastrophe. These fire retardants are also used in kitchen appliances, toys, equipment’s and others to increase the fire resistance. Factors such as technological advancement, regulatory guidelines, and increase in various end user industries such as automotive, construction, textile and others are expected to support the market growth.
The global flame retardants market share is segmented on the basis of type, application, end use and geography. On the basis of type, the market is segmented into Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorus Flame Retardants, and Others. On the basis of application, the market is divided into Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, and Others. On the basis of end use, the market is divided into Construction, Automotive & Transportation, Electronics, and Others Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Akzo Nobel N.V.
- Albemarle Corporation
- BASF SE
- Broadview Technologies Inc.
- Clariant Corporation
- Dover Corporation
- ICL Industrial Products
- Lanxess AG
- Nabaltec AG
- The Dow Chemical Company
