December 12, 2019

Flame Retardants Market is forecast to reach USD 16.60 billion by 2030

The Global Flame Retardants Market size is estimated to be USD 8.39 billion in 2019 and is predicted to reach USD 16.60 billion by 2030 with a CAGR of 6.4% from 2020-2030. Flame Retardants are the chemicals used in various industries such as fabrics, and others to make them fire resistant. Flame retardants 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, equipments and others to increase the fire resistance.

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Over the period of time, there has been increase in the awareness and various developments taken place in the chemical industry to develop the fire resistant materials. Furthermore, the increase in safety concerns, wide applications, and to avoid short circuit in electronic appliances are expected to promote the growth of flame retardants market over the forecast period.

The other factors such as technological advancement, regulatory guidelines, and increase in various end use industries such as automotive, construction, textile and others are expected to support the market growth. However, high prices of flame retardants and toxicity involved with the manufacturing process of flame retardants are expected to hamper the market growth. On the other hand, increased demand of consumer electronics coupled with developing infrastructure is expected to create ample opportunities in the flame retardants market in the near future.

Market Segmentations and Scope of the Study:

The global flame retardants market share is analyzed 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.

Geographical Analysis

North America represents the developed market and holds the major market share due to the increased adoption of flame retardants over the forecast period. Furthermore, increased awareness, stringent government policies, increase in safety concerns and wide applications are further expected to augment the market growth in the near future.

Asia Pacific is expected to be the fastest developing region owing to the presence of developing economies with substantial increase in market share. The constant increase in end use industries in the region such as automotive, electronics and others coupled with developing infrastructure and changing government policies with regards to the safety.

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The flame retardants market is highly competitive, and also consists of a various market players. Some of the major market players include Turning Star Inc., Fire Retardants, Inc., Acoustical Surfaces, JJI Technologies, Flame Safe Chemical Corp., National Purity, LLC, Inolex Lexolube, Flamecheck International, Ltd., and Atlantic Equipment Engineers, Inc. among others.

There have been various developments taken place in the flame retardants market which further expected to contribute the market growth. For instance, in January 2017, Zschimmer & Schwarz has announced the acquisition of the LEXOLUBE Division from INOLEX expands the lubricant and lubricant component portfolio at Zschimmer & Schwarz. With this acquisition, the specialty chemicals manufacturer gains further access to a growing and strategically important market.