Global Flame Retardant Market is valued at USD 8.20 Billion in 2021 and expected to reach USD 13.44 Billion by 2028 with the CAGR of 7.3% over the forecast period.
The Detailed Market intelligence report on the Flame Retardant Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Flame Retardant Market place for the forecast 2022– 2028.
The market players are accepting tactics such as capacity expansions, supply/distribution agreements, investments, mergers & acquisitions, product launches, technology transfers, and joint ventures to sustain their dominance in the flame-retardant market.
Flame retardants are substances that are included to other compounds, such as coatings, plastics, textiles, and foams, to stop ignition or hinder its spread and development, permitting more time for firefighters to intervene on site and users to escape. Flame retardants find broad applications in sectors such as building and construction, electrical and electronics, consumer goods, and transportation.
Non-halogenated and halogenated are the two wide segments of flame retardant market. Halogenated flame retardants are based on chlorine (paraffin) or bromide (polybrominated diphenyl ethers). They show outstanding flame retardancy but also result in environmental and health problems such as creation of toxic smoke of polychlorinated dibenzodioxins (PCDD) or polybrominated or polychlorinated dibenzofurans (PCDF), which lowers visibility. Different laws and directives by the WEEE directives, the RoHS (Restriction of Hazardous Substances Directive), the Europe Union and the US Environmental Protection Agency (EPA), and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) have limited the employment of halogenated flame retardants. Halogen-free flame retardants are a feasible option as they provide similar technical and fire resistance application abilities with less smoke and fewer toxic components. The different kinds of halogen-free flame retardants are mineral flame retardants such as phosphorus-based flame retardants such as organic phosphorus, elemental phosphorus, and inorganic phosphorous; magnesium hydroxide, aluminum trihydrate, and zinc stearate; and nitrogen-based flame retardants such as melamine phosphate, melamine cyanurate, and melamine polyphosphate, among others.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 8.20 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 13.44 Billion|
|Tables, Charts & Figures:||175|
|Flame Retardant Companies||DuPont, DSM, Israel Chemicals Ltd, Nabaltec AG, Italmatch Chemicals, Clariant, LANXESS, BASF SE, ICL, Abermarle Corp. & Others|
|Segments Covered||By Type, By Application, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Rising Requirement In The Building And Construction Sector Is The Major Booster To The Development Of The Global Flame Retardant Market
Rising requirement in the building and construction sector is the major booster to the development of the global flame retardant market. The increasing requirement in the electrical & electronics sector is further powering the flame retardant market size. The increasing employment of plastics in the transportation sector is also predicted to offer growth avenues to the market during the forecast years. The jump towards non-halogenated flame retardants owing to the environmental and toxicity concerns of halogenated ones is the current trend seen in the global market for flame retardant. The market players are accepting tactics such as capacity expansions, supply/distribution agreements, investments, mergers & acquisitions, product launches, technology transfers, and joint ventures to sustain their market presence.
Asia Pacific Added Up for The Biggest Share of The Market and Is Expected to Show the Max CAGR During the Coming Period
Asia Pacific added up for the biggest flame retardant market size. The regional market is expected to show the max CAGR during the coming period. The market has further been divided, by country, into Australia & New-Zealand, Japan, China, Malaysia, India, South Korea, Thailand, and the rest of Asia-Pacific. The Chinese market ruled the regional market and is predicted to clock a solid CAGR during the coming period. China was followed by India and Japan in terms of usage. The electrical and electronics and building and construction sectors are majorly contributing to the growth of flame retardant market. Countries such as India and China are seeing quick industrialization owing to low production cost, relaxed investment norms, quick urbanization caused by an increasing population, and easy availability of labor.
On Special Requirement Flame Retardant Market Report is also available for the below Regions and Country:
Middle East and Africa
Key Benefits for Global Flame Retardant Market Report–