At 4.9% CAGR, North America Flame Retardants Market is Projected to be Worth US$ 1,944.93 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America flame retardants market was valued at US$ 1,321.62 million in 2023 and is expected to reach US$ 1,944.93 million by 2031, registering a CAGR of 4.9% from 2023 to 2031. Rising demand for green flame retardants and advancements in flame retardant technologies are among the critical factors attributed to driving the North America flame retardants market growth.

The emerging demand for green flame retardants is shaping the future of the flame retardants market. Green flame retardants are gaining traction due to stringent regulatory compliance and heightened consumer awareness about the adverse effects of conventional flame retardants. These eco-friendly alternatives typically avoid the use of halogens, such as bromine and chlorine, which have been associated with toxic emissions and contain persistent environmental pollutants. On the contrary, green flame retardants utilize safer materials such as phosphates, metal hydroxides, and bio-based substances, which decompose into non-toxic byproducts. This shift toward green flame retardants is driven by stringent environmental regulations and standards set by governments and international bodies. For instance, the European Union's regulations and similar directives in other regions restrict the use of hazardous chemicals in manufacturing processes. Companies are compelled to seek safer alternatives to comply with these regulations, fostering innovation in developing green flame retardant technologies. For instance, Avient Corporation (a provider of specialized and sustainable material solutions and services) announced the introduction of a line of polytetrafluoroethylene-free and non-halogen flame-retardant additives specifically engineered for polycarbonate and are valuable in manufacturing electrical and electronic products in October 2023. The adoption of such materials not only ensures regulatory compliance but also enhances the sustainability credentials of manufacturers, making their products more appealing to environmentally conscious consumers and investors. Moreover, the market for green flame retardants is expanding as industries across a broad spectrum recognize the benefits of these safer alternatives. In the construction industry, green flame retardants can be used in building materials to meet stringent fire safety codes while also contributing to sustainable building practices. In the electronics sector, the integration of non-toxic flame retardants into consumer electronics aligns with the growing demand for greener gadgets. Additionally, the automotive and aerospace industries are increasingly adopting green flame retardants to enhance the safety and environmental performance of their products. The growing consumer demand for safe and environmentally friendly products further accelerates the trend toward green flame retardants. As public awareness about chemicals' health and environmental impact increases, consumers are more likely to favor products that utilize safer alternatives. This shift in consumer preferences is promoting manufacturers to innovate and invest in the development of green flame retardants to meet the market demand. Consequently, the rising demand for green flame retardants is a response to regulatory and consumer pressure and a key factor promoting innovation in the flame retardants market.

On the flip side, stringent regulations on flame retardants hamper the growth of North America flame retardants market.

By type, the North America flame retardants market is bifurcated into halogenated and halogen-free. In addition, halogenated is sub segmented into bromine-based and chlorine-based, and halogen-free is sub segmented into phosphorus-based, aluminum hydroxide, magnesium hydroxide, and others. The halogenated segment held a 51.0% share of North America flame retardants market share in 2023, amassing US$ 673.56 million. It is projected to garner US$ 935.14 million by 2031 to register 4.2% CAGR during 2023–2031.

In terms of end-use industry, the North America flame retardants market is segmented into building and construction, automotive and transportation, electrical and electronics, textiles, and others. The building and construction segment held a 28.1% share of North America flame retardants market share in 2023, amassing US$ 371.65 million. It is projected to garner US$ 557.93 million by 2031 to register 5.5% CAGR during 2023–2031.

Based on country, the North America flame retardants market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 75.0% share of North America flame retardants market in 2023. It was assessed at US$ 991.74 million in 2023 and is likely to hit US$ 1,484.75 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the North America 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 Nordman; 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.

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