Flame Retardant Industry Overview
The global flame retardant market size was valued at USD 7.46 billion in 2020 and is forecast to grow at a compound annual growth rate (CAGR) of 8% from 2021 to 2028. The demand for flame retardants is anticipated to be driven by the growing usage of fire-resistant products in various end-use industries, such as electrical & electronics, transportation, construction, and others. These industries are increasingly using flame retardant-based materials to meet the fire safety and prevention regulations. The product demand is also fueled by the growing awareness among consumers about improving the fire safety of combustible materials and products. In offices and homes, flame retardants eliminate the risk of fire from an increasing number of electrical and consumer goods.
They also safeguard modern equipment and materials, such as building insulation, engineering thermoplastics, circuit boards, cables, and others, from the ignition and spread of fire. The growth of halogenated flame retardants, such as brominated, chlorinated, and others, is significantly restrained by the harmful effects of the chemicals on humans and the environment. Certain compounds, such as Hexabromocyclododecane (HBCD), are banned in European Union, Japan, and Canada.
Gather more insights about the market drivers, restraints, and growth of the Global Flame Retardant market
This has majorly driven the market for the development of safer alternatives, such as phosphorous, bromine, and chlorine-based non-halogenated flame retardants. The shifting trend toward the replacement of halogenated flame retardants has mainly driven innovation for new non-halogenated products as it promotes environmental sustainability. For instance, GYC Group, a manufacturer of specialty chemicals and fire resistance products, offers a wide range of halogen-free products.
Manufacturers look for less toxic products to make changes in the product composition, such as aluminum triohydroxide. It is expected that most of the demand will arise from applications, such as polyolefins, epoxy resins, Polyvinyl Chloride (PVC), engineering thermoplastics, rubber, and others. China, Iran, Italy, the U.K., the U.S., and France, are among the worst-hit economies due to the pandemic that resulted in industrial shutdowns, supply chain disruptions, and trade halts. This factor may hamper the market growth to some extent.
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Flame Retardant Market Segmentation
Grand View Research has segmented the global flame retardants market on the basis of product, application, end use, and region:
Flame Retardants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Halogenated
- Non-Halogenated
Flame Retardants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Polyolefins
- Epoxy Resins
- UPE
- PVC
- ETP
- Rubber
- Styrenics
- Others
Flame Retardants End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Construction
- Transportation
- Electrical & Electronics
- Others
Flame Retardants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global Flame Retardant market include
- Clariant
- LANXESS
- BASF SE
- ICL
- Abermarle Corp.
- DuPont
- DSM
Order a free sample PDF of the Flame Retardant Market Intelligence Study, published by Grand View Research.
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