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.
Browse full report by Grand View
Research :
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.
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Research: 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
Access press release 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.
