The global flame retardants market is expected to reach USD 11.96
billion by 2025, according to a new report by Grand View Research, Inc.
Favorable regulatory scenario promoting the use of these materials for fire
safety is expected to fuel market growth over the forecast period. Flame
retardants are added to potentially flammable products as a precautionary
measure against fire hazards.
Stringent fire safety regulations and guidelines have forced
construction industry to adopt flame retardant usage. The usage of the high
amount of composite material and plastics has increased the risk of fire
hazards. To reduce this risk and to increase the critical escape time in case of
fire hazards, there has been an increase in FR usage and this trend is expected
to grow over the next nine years thus benefitting flame retardant demand.
Non halogenated flame retardants emerged as the leading product segment
and accounted for 57.7% of total market volume in 2015. The product segment is
also expected to witness the highest growth of 5.7% over the forecast period.
Favorable regulations regarding the use of non halogenated flame retardants are
expected to drive this segment over the forecast period.
Full research report on flame retardants market analysis:
http://www.grandviewresearch.com/industry-analysis/flame-retardant-market
http://www.grandviewresearch.com/industry-analysis/flame-retardant-market
Further key findings from the report suggest:
·
The global flame retardant market demand
was 2.49 million tons in 2015 and is expected to exceed 4.0 million tons by
2025, growing at a CAGR of 4.9% from 2016 to 2025
·
Aluminum hydroxide had the highest
penetration within the non halogenated segment, in terms of demand in 2015 and
is expected to grow at an estimated CAGR of 5.7% over the forecast period.
Regulations restricting the usage of halogenated flame retardants have been
benefitting their non halogenated counterparts
·
Epoxy resins were the largest application
segment and accounted for 24.1% of total market volume in 2015. Polyolefins are
expected to experience the fastest growth of 5.5% over the forecast period.
·
Electrical & electronics was the
leading end-use industry consuming flame retardants with a demand share
exceeding 40% in 2015. It is also expected to witness the highest growth of
5.2% over the forecast period. The growth of electronics industry particularly
in Asia Pacific coupled with favorable regulations is expected to drive growth.
·
They are used widely in electronics &
electrical industry to achieve the prescribed flammability standards.
Components such as printed wiring boards, electrical connectors, wires &
cables and electrical cabinets & enclosures use flame retardants.
·
Asia Pacific was the leading consumer and
accounted for 47.9% of total market volume in 2015. The presence of
manufacturing hubs, rising demand for construction and consumer electronics in
the region are the primarily attributed reasons for the highest penetration.
The region is also expected to witness the highest growth over the forecast
period.
·
Major industry participants include
Chemtura Corporation, Albemarle Corporation, Israel Chemical LTD., Clariant
International Ltd., BASF, & DSM N.V. Companies have been inking agreements
to allow the marketing and sale of their products in the regional markets.
Capacity addition, expansion, and increase in raw material storage capacity to
deal with demand fluctuations have been undertaken by major industry
participants.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the flame retardant market on the
basis of product, application, end use and region:
Product Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
·
Halogenated Flame Retardants
o Brominated FR
o Chlorinated Phosphates
o Antimony Trioxide
o Others
·
Non Halogenated Flame Retardants
o Aluminum Hydroxide
o Magnesium Dihydroxide
o Phosphorous Based
o Others
Application Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
·
Polyolefins
·
Epoxy resins
·
Unsaturated Polyester
·
Polyvinyl Chloride
·
Engineering Thermoplastics
·
Rubber
·
Styrenics
·
Others
End-Use Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
·
Construction
·
Transportation
·
Electrical & Electronics
·
Others
Regional Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
·
North America
o U.S
·
Europe
o Germany
o France
o UK
·
Asia Pacific
o China
o Japan
o India
·
Central & South America
·
Middle East and Africa
View Press Release of this research report by Grand View
Research: https://www.grandviewresearch.com/press-release/global-flame-retardant-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
