Flame Retardants Market by Type (Aluminum Trihydrate, Antimony Oxide, Brominated), Application (Epoxy, Polyolefin, Unsaturated Polyester), End-Use Industry (Building & Construction, Electronics & Appliances): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 7.2 billion mark in 2022 and is expected to hit US$ 10.4 billion by 2030, recording a CAGR of 4.8% during the forecast period.
Increasing demand for flame retardant in various applications.
Various public spaces and modern houses contain flammable materials with the increased use of foams, plastics, and composites. These flammables are protected by high fire safety standards and regulations. The measure of fire safety guidelines is to use flame retardant materials in interior works. The affluent residential and commercial establishment has increased the chances of blasts and fire-related accidents. Due to this, various regions such as North America and Europe have mandated strict fire safety regulations. This has increased the demand for flame retardants in residential and commercial areas to meet these government regulations and protocols.
Within the report, the market is segmented into type, application, end-use industry, and geography. By type, the market is further segmented into aluminum trihydrate, antimony oxide, and brominated. On the basis of application, the market is bifurcated into epoxy, polyolefin, and unsaturated polyester. By end-use industry, the market is categorized into building & construction, electronics & appliances. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising demand for electronics such as wires and cables worldwide.
The demand for wire and cable compounds is growing, and their requirement is changing across industries such as construction, automobile, telecommunication and electrical. The utilization of flame retardant has grown in the electronic sector, as a result of its attribute namely, low flammability of combustible products. The flame retardants have applications such as building & construction, electronics, automotive & transportation, wires and cables. Some of the major factors driving the flame retardants market are high demand from current & emerging applications from electronic industry, specifically from emerging economies, advancement in technology and development in security measures. The governments in nations around the world have imposed smoke and flammability safety standards for different products including wires and cables.
Rising adoption of flame retardants in polyolefins application is one of the major factors accelerating the market growth.
Flame retardants are extensively utilized for polyolefins application, due to its attributes of flame reduction, prevention of polymer dripping and suppression smoke formation. The application of flame retardants also range from roofing and siding, construction fabrics, mattress covers, carpet backing to automotive fabrics in polyolefin fabrics. The significantly used polymer in the communication and electrical cables in insulation and domestic applications in doors, gutters, house sidings, and window frames applications is Polyvinyl chloride, due to its combustion resistance. However, Polyvinyl chloride has several disadvantages such as smoke and toxicity of gases, but it is still preferred due to its fire resistant characteristic. So, the addition of “impact modifier” and “processing aid” to Polyvinyl chloride imparts flame resistance to the formulation.
Recent strategic developments in Flame Retardants market
The flame retardants market has undergone several significant developments, and a few of these have been mentioned below:
- In December 2021, Clariant began construction of flame retardants production facility in China. This expansion of US $ 63 million aims to meet fast growing electrical and electronic equipment industries, with innovative and sustainable Exolit OP flame retardants.
- In September 2020, BASF SE added Ultradur B 4440 and Ultramid B3U42G6, a range of non halogen based flame retardants in unreinforced polyesters and flame-retardant polyamides based on organic phosphorus compounds, respectively.
- In October 2019, DSM launched UL-certified flame retardant PA6/66 material for use on open extrusion-based 3D printing platforms.
The Flame retardants market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Clariant, BASF SE, Koninklijke DSM N.V., DuPont and LANXESS are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Flame retardants providers
- Flame retardants manufacturers
- Flame retardants -related service providers
- Flame retardants -related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Flame retardants distributors and sales firms
- End users of flame retardants
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Aluminum Trihydrate
- Antimony Oxide
- Unsaturated Polyester
- End-Use Industry:
- Building & Construction
- Electronics & Appliances
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- BASF SE
- Koninklijke DSM N.V.
- BASF SE
- Koninklijke DSM N.V.