Flame Retardants Market to be dominated by Non-Halogenated products through 2027
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.
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Pages and an in-depth TOC on "Global Flame Retardants Market"
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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
·
Budenheim
·
LyondellBasell
·
DSM
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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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