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Flame Retardant Market Size to Hit USD 11.17 Billion by 2027: Development of Effective Flame Retardant Synergist to Add Impetus

July 20, 2020 | Chemicals & Materials

The global flame retardant market size is projected to hit USD 11.17 billion by 2027 on account of the rising incidence of fire accidents and the stringent regulations imposed on fire safety by the governments of various nations. As per a rewcent report by Fortune Business Insights, titled, “Flame Retardant Market Size, Share & Industry Analysis, By Chemistry (ATH, Brominated, Antimony Oxides, Chlorinated, Phosphorous Compounds, and Others), By End User (Automotive, Construction, Wire & Cable, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2020-2027,” the value of this market was USD 7.09 billion in 2019, and will rise at a CAGR of 5.9% between 2020 and 2027.


Flame Retardant Compounds with Halogen-free Components for Use in Electronics


Clariant and Lavergne declared the development of flame-retardant compounds made of halogen-free components for use in electronic products. These compounds are made of recycled polyester, mainly from the waste collected from ocean bounds by Lavergne and is inclusive of the OP halogen-free flame retardant produced by Clariant.


Davood Bagheri, a polymer scientist at Lavergne, states, “The ocean is not the home for plastic; Lavergne is. We aim at cleaning plastics dumped into the ocean and turn waste into high-end products. Our main objective behind this collaborative effort is to curb the chances of fire accidents in electronic appliances and to strengthen the company’s portfolio in the geographical market by converting waste into the matter.”


Such initiatives taken by the manufacturers will not only set a good example of environmental protection but also aid in the expansion of the market in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/flame-retardants-market-102909


Rising Use by Textile and Automobile Component Products to Augment Growth


The increasing consumption of brominated compounds and products made of bromine stands as significant factors responsible for the flame retardant market growth. Additionally, the growing need for adopting fire precautions is propelling the demand for these retardants from various end-user applicants, thereby augmenting growth. On the contrary, factors such as health and environmental hazards associated with the use of certain materials used in furniture or automobile parts may pose a significant hindrance to the market in the coming years.


Nevertheless, the rising use of these retardants for making products such as paints, interiors, wires, insulation materials, construction products, textiles, and others are expected to create lucrative growth opportunities for the market in the coming years.


Investments in Product Development to Help Players Gain Significant Position in Market


Major players of this market are investing in the development of innovative flame-retarded products to gain a significant position in the market competition. The other players are engaging in the manufacturing of halogen-free flame retardants to compete for the top position in the market.


Significant Industry Developments of this Market include:



  • December 2018 –  USD 222.3 million was invested by LANXESS for strengthening its position in Germany, the U.S., and the U.K.


List of Prominent Players in the Market include:



  • Dow (United States)

  • Huber Engineered Materials (United States)

  • Clariant (Switzerland)

  • Thor (UK)

  • Lubrizol Corporation (United States)

  • BASF SE (Germany)

  • Nabaltec AG (Germany)

  • LANXESS (Germany)

  • Kisuma Chemicals (Netherlands)

  • ICL Group (Israel)

  • Italmatch Chemicals S.p.A. (Italy)

  • Albemarle Corporation (United States)

  • Akzo Nobel N.V. (Netherlands)

  • Other players


Further Report Findings



  • Asia Pacific generated a revenue of USD 3,173.7 million in 2019 and earned the largest flame retardant market share owing to the increasing construction activities, coupled with the rising demand from the electrical & electronics sector.

  • Based on segmentation by chemistry, the antimony oxides segment earned 26.6% share. However, the alumina trihydrate or aluminium trihydrate (ATH) segment is likely to showcase significant growth in the coming years as they do not emit toxic smoke while burning.


The Global Market is categorized into:








































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Chemistry



  • ATH

  • Brominated

  • Antimony Oxides

  • Chlorinated

  • Phosphorous Compounds

  • Others



By End-User



  • Automotive

  • Construction

  • Wire & Cable

  • Electrical & Electronics

  • Textile

  • Others



By Geography



  • North America (the U.S., and Canada)

  • Europe (Germany, France, UK, Italy, Spain, Russia, and the Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and the Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • Middle East& Africa (GCC, Turkey, and the Rest of Middle East & Africa)


Global Flame Retardant Market
  • PDF
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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