The global flame retardant chemicals market size is anticipated to be worth USD 8,560 Million in 2022. During the projection period of 2022 to 2032, the market is predicted to grow at a CAGR of 7.1%, with a valuation of USD 16,990 Million by 2032. Key factors propelling the market growth include:
Due to the rising consumer demand for houses, gadgets, and cars, organizations like the International Code Council and the National Fire Protection Association (NFPA) have developed fire safety laws. To boost halogen-free flame retardants (HFFRs) and smoke suppressants, the EU introduced the green agreement in October 2020, followed by the chemical strategy for sustainability.
| Attributes | Details |
|---|---|
| Flame Retardant Chemicals Market Value (2022) | USD 8,560 Million |
| Flame Retardant Chemicals Market Forecast Value (2032) | USD 16,990 Million |
| Flame Retardant Chemicals Market CAGR (2022 to 2032) | 7.1% |
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Manufacturers are required to abide by certain strict fire safety regulations in end-use sectors including building & construction, automotive, and electronics. Additionally, the market for flame retardants is being further stimulated by the expanding usage of plastic in every industry due to its advantageous properties.
Environmental and health issues that limit the use of traditional flame retardants like brominated and chlorinated flame retardants are the main factors limiting the market growth.
This factor has increased demand for more environmentally friendly flame retardants, such as nitrogen and phosphorous. Rapid economic growth in nations like China, Mexico, and India is likely to help fuel the market throughout the projection period.
Compounds including bromine, nitrogen, phosphorus, and zinc are added to the polymer blends in greater quantities to improve the effectiveness of flame retardants.
Mineral fillers with large loadings tend to reduce the characteristics of flame retardants when applied to them. Synergist compounds with polymer blends are developed as a solution to this problem, helping to improve the effectiveness of flame retardants.
It is discovered that the impact is more effective when such mixes are combined in a polymer matrix than when chemicals operate alone. Synergist blends to increase the retardant qualities while halogenated flame retardants are reduced in weight, toxicity, and quantity.
A major challenge for manufacturers includes changing the characteristics of finished products due to high loading levels of flame retardants derived from minerals.
The high loading levels connected with flame retardants based on minerals are one of their main downsides. Mineral fillers that are ecologically safe and endothermically decomposable include aluminum, magnesium hydroxide, and magnesium carbonate.
To guarantee flame retardancy, flame retardants employed as fillers are placed heavily into the polymer matrix. When utilized as flame retardants, these minerals need greater loadings of up to 65%.
However, the final product's mechanical qualities (thermal stability) are decreased and its density is increased due to the excessive loading of mineral fillers. The market expansion of flame retardants may be constrained by this decreased feature of these chemicals.
Fire-resistant chemicals are projected to be used more frequently because they play an important role in decreasing the general danger of fire-related use of highly combustible feedstock in goods such as textiles, apparel, composites, and plastics.
The flame retardant chemicals market can be segmented based on their application in the end-user industries such as automotive, construction, textiles, electronics and electrical industry, and others.
On the other hand, the flame retardant chemicals market, based on the type of chemicals, is segmented as chlorinated flame retardant, boric acid flame retardant, brominated fire retardant, organophosphorus based flame retardant, ammonium phosphate fire retardant, nitrogen flame retardant, antimony oxide, Aluminium hydroxide fire retardant, and other flame retardants.
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Asia Pacific is a major electrical and electronics center, with the biggest flame retardant market share. The presence of significant electronics industries, as well as increased construction activity, will drive the market in this region.
Based on the regions of the world, the Flame Retardant Chemicals market can be segmented into Asia-Pacific region, North America, Western Europe, Eastern Europe, Japan and the Middle East, and Africa.
The flame retardant chemicals market is expected to witness moderate single-digit growth in the next five years.
Among the regional segments, Asia-Pacific accounts for the largest share of the global flame retardant chemicals market with China accounting for a large chunk of demand, Asia-Pacific is followed by North America.
The growth of end-user industries especially in the Asia-Pacific region has led to significant growth in the global flame retardant chemicals market.
Due to increased construction activity around the world, the building and construction segment is likely to dominate the flame retardant chemicals market and rise during the forecast period.
The growth of the construction industry which employs flame retardants in insulation materials, paints and coatings, and other materials, the growth of the automotive and electronics industry, and other emerging application segments are expected to drive the growth of the flame retardant chemicals market.
The regulations pertaining to safety standards as regards fire safety in the end-user industries have led to a significant increase in demand over the past few years in the global flame retardant chemicals market.
The growth of the flame retardant chemicals market is however dependent on the price of feedstock or the raw materials required for producing these chemicals.
Some of the flame retardant chemicals are harmful to the environment and have led to a reduction in their use worldwide this has also led to the development of eco-friendly flame retardant chemicals which are expected to gain a foothold in the global flame retardant chemicals market and in turn drive the growth of the flame retardant chemicals market.
The detrimental effects of halogenated flame retardants on persons and the environment have greatly slowed the expansion of halogenated flame retardants such as brominated, chlorinated, and others. Certain chemicals, such as hexabromocyclododecane (HBCD), are prohibited in the European Union, Japan, and Canada.
This has significantly fuelled the demand for safer and environmentally friendly flame retardants, such as phosphorous, bromine, and chlorine-based non-halogenated flame retardants. As it supports environmental sustainability, the shifting trend toward the replacement of halogenated flame retardants has primarily pushed innovation for new halogen-free flame retardants.
The majority of the demand is predicted to come from applications such as polyolefins, epoxy flame retardant, and polyvinyl chloride (PVC).
The major players in the flame retardant chemicals market are Clariant, BASF, Chemtura, AkzoNobel, Ciba specialty chemicals, Lanxess AG, and Bayer Material Science among others.
These key players are incrementally shifting their focus towards halogen-free flame retardants and non-toxic flame retardants.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available For | 2014 to 2020 |
| Market Analysis | USD Million for Value |
| By Type | Chlorinated flame retardants, Brominated flame retardants, Organophosphorus flame retardants, Nitrogen flame retardants, Antimony oxide, Aluminum hydroxide |
| By Application | Automotive, Construction, Textiles, Electronics, Electrical industry |
| By Region | North America; Latin America; Asia Pacific; Japan; Western Europe; Eastern Europe; Middle East & Africa |
| Key Players | Clariant; BASF; Chemtura; AkzoNobel; Ciba specialty chemicals; Lanxess AG; Bayer Material Science |
The flame retardant chemicals market is projected to reach a CAGR of 7.1% during the forecast period.
The flame retardant chemicals market held a valuation of US$ 7.46 Billion in 2020.
Asia Pacific accounted for more than 55% of the global market's revenue, and it is expected to grow at the quickest CAGR during the forecast period.
The rising use of polyolefins as plastics in a wide variety of applications led to this segment's dominance of the market in 2020, when it accounted for 26.13 percent of total market revenue.
Rising end-use industries and stricter fire safety standards are driving the market forward.
| Global Market Estimated Size (2022E) | USD 3,787.1 Million |
|---|---|
| Projected Market Valuation (2032F) | USD 6,911.1 Million |
| Value-based CAGR (2022 to 2032) | 6.2% |
| Estimated Base Year Value (2022) | USD 2530.67 Million |
|---|---|
| Anticipated Forecast Value (2032) | USD 6684.23 Million |
| Projected CAGR (2022 to 2032) | 10.2% |
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