Flame Retardants Market Size, Value, Demand, Competitive Landscape and Market Forecast 2023-2030

The global Flame Retardants Market is segmented By Type (Halogenated Hydrocarbons, Inorganic flame retardants, Phosphorous Based, Brominated flame retardants, Others), By End User (Electrical and Electronics, Building and Construction, Furnishings, Transportation, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Flame Retardants Market Overview

[195 Pages Report] The Global "Flame Retardants Market" is expected to grow at a high CAGR of 7.3% during the forecasting period (2023-2030). Flame retardants (FR) are chemical compounds added to or otherwise incorporated into plastic compounds to provide varying degrees of flammability protection. There are several classes of flame retardants; Halogenated Hydrocarbons (Chlorine and Bromine containing Compounds and reactive flame retardants), Inorganic flame retardants (Boron Compounds, Antimony oxides, Aluminium Hydroxide, molybdenum Compounds, zinc and magnesium oxides ), Phosphorous containing Compounds (Organic Phosphate Esters, Phosphates, halogenated phosphorus Compounds, and inorganic phosphorus-containing salts).

Flame Retardants Market Scope and Summary

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Flame Retardants Market Dynamics and Trends

• The global flame retardants market is driven by more stringent international fire protection requirements in the construction sector and rail transport, automotive, and the electrical industry, coupled with a rise in plastics consumption.
• Further, new flame retardant systems are facilitating plastic processing and the trend toward halogen-free systems.
• However, flame retardants are being studied because of their abundance in the environment and concerns about their impact on human health, especially to children who can be easily exposed to them through hand-to-mouth contact.
• There is growing evidence that many flame retardant chemicals can affect the endocrine, immune, reproductive, and nervous systems.
• Some animal studies have shown that long-term exposure to flame retardants can lead to cancer. These factors are expected to hinder the swift flow of the global flame retardants market size during the forecast period.

Flame Retardants Market Segmentation Analysis

• By type, the global flame retardants market is segmented into halogenated hydrocarbons, inorganic flame retardants, phosphorous-based, brominated flame retardants, and others.
• Of these, Brominated flame retardants dominate the market owing to their high-performance efficiency and low cost. In the commercial market, more than 75 different BFRs are recognized.
• Around 41 tonnes of brominated flame retardants were imported into Sweden as raw material for the industry in 2010. Brominated flame retardants were also introduced as contained in finished articles.
• Further, halogenated hydrocarbons are widely used in flame retardants, electronics, pharmaceuticals, and solvents. The presence of these materials in waste streams continues to be a significant environmental problem.

Flame Retardants Market Geographical Share

• Geographically, the global flame retardants market is segmented into North America, Europe, South America, Asia Pacific, and RoW. Of these, Asia Pacific dominated the market owing to significant demand for flame retardant chemicals from the building & construction sector, as the construction industry is multiplying in developing economies, like China, India, and some ASEAN countries.
• According to the National Fire Protection Association (NFPA), in 2017, more than 1.3 million fires were reported in the US, causing 3,400 civilian fire deaths, 15,000 civilian injuries, and USD 23 billion in property damage. Flame retardants are especially relevant, as the large volume of electrical and electronic equipment in buildings, coupled with a more significant amount of combustible materials, can increase the potential for fire hazards.
• The global flame retardants segments hold the largest market share throughout the forecast period.

Flame Retardants Companies and Competitive Trends

• The top five players in the global flame retardants market collectively accounted for 48% of the overall share in the market in 2017. Due to its competitive nature, the leading players are concentrating more on the international and local markets.
• These key players to expand their footprints are going into strategic partnerships and acquiring local players. Also, the organizations are focusing on increasing sales by upgrading distribution channels and expanding their product portfolio.
• For instance, in October 2017, a Specialty chemicals company, LANXESS expanded its portfolio of halogen-free, flame-retardant compounds based on polybutylene terephthalate (PBT) and polyamide (PA 6, PA 66).
• Other major companies in this market are BASF SE, Lanxess, Clariant, ICL, Italmatch Chemicals S.p.A, MPI Chemie B.V., Albemarle, Broadview Technologies, Dover Corporation, and Thor Group Ltd.