The Global Flame Retardants Market is projected exhibit a CAGR of around 6% to reach a value of USD 15.5 billion by 2027.
Flame retardants are chemicals, which are added to manufactured materials, that inhibit or delay the spread of a fire. They are designed to minimize the risk of catching fire, even with a small heat source such as a cigarette, candle, or an electrical fault. Government authorities across the globe have various stringent regulations and safety standards for fire protection. These regulations have promoted the use of flame retardant materials, thereby driving the overall growth. Aggressive attempts of manufacturers to avoid mishaps caused due to the fire outbreak is propelling the product demand.
Flame Retardants Market: Drivers & CHALLENGES
Increasing Demand from Building & Construction Industry
Rapid infrastructural development across the globe is expected to result in the number of construction activities. The use of flame retardants in the construction industry is essential to meet fire safety standards and codes. Apart from this, these are used on foam, upholstery, and carpets, which are the major part of the building & construction industry.
Flame retardants are used as a protective coating for cables and electrical wiring and as insulation material.
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Widespread Use of Polymers in the Transportation Industry
Wide range of polymers such as polypropylene, polyethylene, polyvinyl chloride, acrylonitrile butadiene styrene, among many others finds exclusive applications in the transportation industry. The shift towards the use of lightweight materials in line with the increased fuel efficiency and lower CO2 emissions. These polymers are prone to catch fire, which might cause a fatal disaster.
Moreover, the rapid innovation in electronics for the automotive industry is likely to fuel the use of polymers, thereby, driving the demand for flame retardants.
Potential Health Hazards of Flame Retardants
Flame retardant chemicals can find their way into the environment during manufacturing and can leak from products. These retardant chemicals are also released into the environment through e-waste or the uncontrolled burning and dismantling of electronic and electric waste. If exposed or inhaled, these may cause harmful effects in humans and animals such as the endocrine and thyroid disruption, reproductive toxicity, cancer, neurologic dysfunction, and adverse effects on fetal and child development.
Thus, hazardous health effects by inhalation and exposure of flame retardant chemical is likely to hamper the market growth.
Flame Retardants Market: Key Segments
- Segmentation based on type: Halogenated and Non-halogenated.
- Segmentation based on resin: Polyethylene, Polypropylene, Epoxy, Unsaturated Polyester, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, and Others.
- Segmentation based on end-users: Building & Construction, Electrical & Electronics, Transportation, Consumer Goods, Textiles, Rubber, Plastics & Polymers, and Others.
- Segmentation based on region covers: North America, Asia-Pacific, Europe, , Middle East & Africa and South America, with individual country-level analysis.
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Flame Retardants Market: Report Scope
The report on the flame retardants market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Flame Retardants Market include:
- Albemarle Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- BASF SE
- Huber Engineered Materials
- Celanese Corporation
- RTP Company
- Nabaltec AG
- Other Key Companies
Flame Retardants Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Flame Retardants Market, by Membrane Type
- Aluminum Trihydrate
- Magnesium Hydroxide
Flame Retardants Market, by Resin
- Unsaturated Polyester
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
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Flame Retardants Market, by End User
- Building & Construction
- Electrical & Electronics
- Consumer Goods
- Plastics & Polymers
Flame Retardants Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
- GLOBAL FLAME RETARDANTS MARKET BY TYPE, Market Size in USD Million and Kiloton (2019—2027)
- GLOBAL FLAME RETARDANTS MARKET BY RESIN, Market Size in USD Million and Kiloton (2019—2027)
- GLOBAL FLAME RETARDANTS MARKET BY END USER, Market Size in USD Million and Kiloton (2019—2027)
- GLOBAL FLAME RETARDANTS MARKET BY REGION, Market Size in USD Million and Kiloton (2019—2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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