At 4.1% CAGR, Middle East & Africa Flame Retardants Market is Projected to be worth US$ 289.64 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa flame retardants market was valued at US$ 210.16 million in 2023 and is expected to reach US$ 289.64 million by 2031, registering a CAGR of 4.1% from 2023 to 2031.Rapid growth of construction industry and advancements in flame retardant technologies are among the critical factors attributed to driving the Middle East & Africa flame retardants market growth.

As urbanization and infrastructure development surge, the construction sector requires a variety of materials such as insulation, wiring, and furnishings, all of which need to meet stringent fire safety standards. Flame retardants comply with safety regulations, thereby reducing the risk of fires in residential, commercial, and industrial buildings. The heightened focus on fire safety in construction projects amplifies the necessity for flame-retardant products, directly boosting their market demand. Several government bodies across different countries support the development of the residential construction sector. For instance, in Saudi Arabia, Sakani was formed in 2017 by the Ministry of Housing and the Real Estate Development Fund to facilitate home ownership in the Kingdom by creating new housing stock, allocating plots and homes to nationals, and financing their purchase. The program has an aim of reaching 70% home ownership by 2030. The Sakani program helped 70,000 families in the first quarter of 2021, surpassing its goal of providing 51,000 families. In addition, according to the Government of Dubai, in 2022, Dubai recorded real estate transactions of US$ 143.8 billion (AED 528 billion), indicating a 73% increment from 2021. 122,658 real estate units (including residential and commercial) were sold in 2022, reporting an upsurge of 47% compared to 2021. As modern construction increasingly emphasizes sustainable and high-performance buildings, the role of advanced materials becomes more pronounced. Therefore, various government-supportive measures for the development of the construction industry are leading to an increase in construction activities. This is creating demand for different construction materials, thereby driving the Middle East & Africa flame retardants market growth.

On the flip side, stringent regulations on flame retardants hamper the growth of Middle East & Africa flame retardants market .

By type, the Middle East & Africa flame retardants market is bifurcated into halogenated and halogen-free. In addition, halogenated is sub segmented into bromine-based and chlorine-based, and halogenated is sub segmented into phosphorus-based, aluminum hydroxide, magnesium hydroxide, and others. The halogenated segment held 72.0% share of Middle East & Africa flame retardants market share in 2023, amassing US$ 151.39 million. It is projected to garner US$ 205.72 million by 2031 to register 3.9% CAGR during 2023–2031.

In terms of end-use industry, the Middle East & Africa flame retardants market is segmented into building and construction, automotive and transportation, electrical and electronics, textiles, and others. The building and construction segment held 35.5% share of Middle East & Africa flame retardants market share in 2023, amassing US$ 74.61 million. It is projected to garner US$ 107.56 million by 2031 to register 4.7% CAGR during 2023–2031.

Based on country, the Middle East & Africa flame retardants market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 48.0% share of Middle East & Africa flame retardants market in 2023. It was assessed at US$ 100.96 million in 2023 and is likely to hit US$ 131.87 million by 2031, registering a CAGR of 2.8% during 2023–2031.

Key players operating in the Middle East & Africa flame retardants market are ADEKA CORPORATION; AIR WATER INC; Albemarle Corp; Alpha Calcit Füllstoff GmbH & Co. KG; Avient Corp; BASF SE; Celanese Corp; Clariant AG; Domo Chemicals GmbH; Georg Nordmann; Greenchemicals S.r.l; ICL Group Ltd; Italmatch Chemicals S.p.A; J.M. Huber Corporation; Konoshima Chemical Co., Ltd.; Lanxess AG; Marubeni Corp; Nabaltec AG; RTP Company; and THOR Group Ltd, among others.

• In June-2024: CAI Performance Additives announced the launch of cost effective and sustainable flame retardant synergist that delivers exceptional performance and cost savings for a wide range of plastic applications.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com