Flame Retardant Industry Overview
The global flame retardant market size is anticipated to reach USD 12.99 billion by 2028, registering a CAGR of 8.0% over the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the growing application scope in key end-use industries including automotive, electrical & electronics, transportation, construction, and others. In addition, increasing demand for these products in applications, such as polyolefin, Engineering Thermoplastics (ETP), epoxy resins, Polyvinyl Chloride (PVC), and rubber, coupled with the presence of favorable government regulations, especially in Asia Pacific, North, America, and Europe, will drive the market in the coming years.
Halogenated products, including brominated, chlorinated, phosphate-based, and antimony trioxide-based, are widely used in various applications, such as printed wiring boards, wires & cables, floorings, flexible polyurethane foams, polyolefins, polyamides, wall sheeting, refrigeration, and others. The demand for environmentally friendly products, such as non-halogenated flame retardants, is growing at a rapid pace. The Asia Pacific, North America, and Europe regions have emerged as the largest consumers owing to the presence of stringent environmental sustainability policies and the rising awareness about fire safety among consumers.
Flame Retardant Market Segmentation
Grand View Research has segmented the global flame retardants market on the basis of product, application, end use, and region:
Based on the Product Insights, the market is segmented into Halogenated, and Non-Halogenated.
- The non-halogenated product segment dominated the market with a revenue share of more than 59% in 2020. This is attributed to the rising demand for environmentally friendly and less toxic flame retardants.
- The application of flame retardants is expected to increase as it plays a vital role in reducing the general risk of fire associated with the use of highly combustible feedstock in products, such as textiles, clothing, composites, and plastics.
Based on the Application Insights, the market is segmented into Polyolefins, Epoxy Resins, UPE, PVC, ETP, Rubber, Styrenics, and Others.
- The polyolefins application segment dominated the market with a revenue share of 26.13% in 2020 owing to the growing use of polyolefins as plastics in numerous applications.
- Polyvinyl chloride is the most widely used polymer, mainly in communication and electrical cables in insulation and domestic applications in doors, gutters, house sidings, and window frames.
Based on the End-use Insights, the market is segmented into Construction, Transportation, Electrical & Electronics, and Others.
- The electrical & electronics end-use segment dominated the market with a revenue share of 38.15% in 2020. Its high share is attributed to an increased usage of the product in the plastic casing of electric products for consumer safety and to reduce the risk of fire.
- The construction end-use segment is another major segment, which accounted for 28.1% of the overall revenue share in 2020.
- With the growing construction industry and rising awareness regarding the importance of fire protection, the demand for fire retardants is anticipated to increase over the forecast period.
- The rapidly developing transportation industry and the need to address fire safety in the automobile industry are expected to boost the product demand.
Flame Retardants Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key companies are constantly undertaking new initiatives to develop innovative products as an alternative to halogen-based flame retardants in an attempt to strengthen their position in the global market. The rising demand for halogen-free products is attracting new manufacturers to the market. The existing companies are entering into the manufacturing industry to gain significant market share against their competitors. An extensive product portfolio enables the manufacturers to meet the rising demand from new and existing customers.
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 Retardants Market Intelligence Study, published by Grand View Research.
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