Flame Retardants Market: Global Industry Analysis and Forecast (2023-2029)

Flame Retardants Market size was valued at US$ 8.15 Bn. in 2022 and the total revenue is expected to grow at 4.75% CAGR through 2023 to 2029, reaching nearly US$ 11.28 Bn.
Flame Retardants Market Overview:
Flame retardants are chemicals that are used in a variety of produced products such as plastics, fabrics, surface finishing, and coatings to inhibit the onset of ignition and prevent fires.

In Europe, all building and construction materials (including rigid PU foams) must meet the EN 13501 fire criteria. In the United States, building materials must be tested according to ASTM E 84.To know about the Research Methodology :- Request Free Sample Report
Flame Retardants Market Dynamics:
High demand from present and developing applications, demand from emerging economies, technological advancements, enhanced security measures, and new regulatory rules for decreasing harmful chemicals are some of the primary drivers driving the flame retardant market. Governments all across the world are improving smoke and flammability range safety regulations in various items. The global need for flame retardants is expanding as the automobile, construction, and other key end-use industries increase. In the coming years, nanotechnology is likely to play a significant role in boosting the performance of the flame retardant industry. Equipment & electronics, automotive & construction, and emerging economies, particularly those expanding in infrastructure applications, are all key potential opportunities for the flame retardant market. The expansion of these industries in emerging nations is expected to boost demand for flame retardants and products made from them. Regulation EU 2017/227 was adopted by the European Commission. Regulation is revised in Article 1 to add a ban on the use of decaBDE in quantities more than 0.1 % by weight, which will take effect on March 2, 2021. Exemptions apply to products that were on the market before March 2, 2021. Furthermore, until March 2, 2029, decaBDE can be used in aeroplanes. BASF is showing two new high-performance plastics, Ultradur® B 4440 and Ultramid® B3U42G6, on its virtual platform at this year's International Trade Fair for Plastics Processing (Fakuma), adding advances in the realm of flame-retardant and highly insulating polymers to its existing offering.
Flame Retardants Market Segment Analysis:
Based on end user, Flame Retardants market is segmented into Building and Construction, Wire and Cables, Automotive, Electrical & Electronics, Plastic Manufacturing, Textiles & Furniture and Others. The electrical and electronics industry had the biggest market share and is expected to grow at the fastest rate over the next few years. In order to comply with the specified laws and regulations, flame retardant chemicals are employed in the industry to limit the hazards. The electrical and electronics segment has benefited from rising literacy rates, disposable money, and living standards around the world, particularly in developing regions like Asia Pacific. This upward tendency has benefited the market in the recent past, and it is projected to do so again in the future.

Based on application, based on industry the Flame Retardants market is segmented into Polyolefin, Epoxy resin, UPE, PVC, ETP and Rubber. The epoxy resins segment hold the largest market share in 2022. They're employed in a variety of composite materials, coatings, and adhesives used in the construction and building sectors. Building and construction, which includes commercial, public, and residential structures, is predicted to be one of the most common uses for epoxy resins. Over the forecast period, polyolefin is expected to increase at the fastest rate. Polyolefin are widely used in construction as well as the electrical and electronic industries. Polyolefin are combustible, however they are said to have a high flame retardants loading capacity. Over the projection period, all of these positive features are expected to contribute to the segment's growth.
Flame Retardants Market Regional Insights:
Asia Pacific is expected to grow at the fastest rate over the forecast period. Owing to significant growth in resin consumption across both economies, Asia Pacific is expected to see higher revenues from China and India over the forecast period. Furthermore, in order to meet the safety standards of North America or Europe, manufacturers in Asia Pacific are concentrating their efforts on producing environmentally friendly flame retardant products, as a large portion of their output is exported to other countries. The expansion of the regional market is being fueled by an increase in transportation and industrial operations in Asia Pacific, as well as other factors such as low labor costs and cheap raw materials.

In addition, increased propensity of important mining operators toward development due to the region's substantial mineral resources and the use of flame retardants in mine uniforms are driving demand in India, China, Japan, and Australia. Tosoh Corporation announced in June 2021 that it would increase its bromine production capacity by 30% at its Nanyo Complex in Shunan City, Japan, for use in flame retardants and other applications. The project is expected to be completed by January 2023, allowing the company to expand its business and improve profitability. BASF's R&D capabilities in Asia Pacific have been expanded by the acquisition of the Solvay polyamide business, which includes new innovations, technical skills, and upgraded material and part testing services. BASF intends to incorporate Solvay's R&D centers into its existing R&D facilities in Shanghai, China, and Seoul, Korea.

The objective of the report is to present a comprehensive analysis of the Global Flame Retardants Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Flame Retardants Market dynamics, structure by analyzing the Market segments and project the Global Flame Retardants Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
Flame Retardants Market Scope: Inquire before buying



Flame Retardants Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 8.15 Bn.


Forecast Period 2023 to 2029 CAGR:
4.75%
Market Size in 2029:
US $ 11.28 Bn.


 Segments Covered:
by Product
Non-Halogenated Flame Retardant Chemicals
Halogenated Flame Retardant Chemicals


by End-User
Building and Construction
Wire and cable
Automotive
Electrical & Electronics
Plastic Manufacturing
Textiles & Furniture
Others


by Application
APolyolefin
Epoxy Resin
UPE



Flame Retardants Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Flame Retardants Market Key Players are:
1. Albemarle
2. ICL
3. Chemtura
4. LANXESS
5. Clariant International Ltd.
6. Jiangsu Jacques Technology Co. Ltd
7. Italmatch Chemicals
8. Huber Engineered Materials
9. BASF
10.Thor Group Ltd.
11.DSM
12.FRX Polymers
13.Nabaltec AG
14.Delamin
15.Dupont
16.Akzo Nobel N.V.
17.J.M. HUBER CORPORATION
18.DIC CORPORATION
19.MPI Chemie B.V.
20.Nano Technologies Inc.
21.RTP Company

Frequently Asked Questions:

1. Which region has the largest share in Global Flame Retardants Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Flame Retardants Market?
Ans: The Global Flame Retardants Market is growing at a CAGR of 4.75% during forecasting period 2023-2029.

3. What is scope of the Global Flame Retardants market report?
Ans: Global Flame Retardants Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Flame Retardants market?
Ans: The important key players in the Global Flame Retardants Market are – Albemarle, ICL, Chemtura, LANXESS, Clariant International Ltd., Jiangsu Jacques Technology Co. Ltd, Italmatch Chemicals, Huber Engineered Materials, BASF, Thor Group Ltd., DSM, FRX Polymers, Nabaltec AG, Delamin, Dupont, Akzo Nobel N.V., J.M. HUBER CORPORATION, DIC CORPORATION, MPI Chemie B.V., Nano Technologies Inc., RTP Company, and

5. What is the study period of this market?
Ans: The Global Flame Retardants Market is studied from 2022 to 2029.