Flame Retardants Market Scope
Flame retardants include a varied group of chemicals that are added to materials, like electrical devices, plastics products, construction materials or textiles, among many others. These delays the flames production to prevent the spread of fire. There are many types of flame retardant including antimony oxides, aluminum trihydrate, brominated flame retardant, organophosphorus flame retardants, chlorinated flame retardant, and other flame retardant chemicals. Usage of flame retardants is growing in the electronic industry owing to its property of declining the flammability of combustible substances. Some of the key end user applications of flame retardant market comprise building & construction, automotive & transportation, electronics, wires & cables, textiles & other applications. Development of more effective synergist compounds is likely to provide high growth opportunities for the players in the global flame retardants market over the near future.
According to AMA, the Global Flame Retardants market is expected to see growth rate of 6.6%In December 2018, Lanxess Aktiengesellschaft has announced that it is going to strengthen its global asset base for flame retardant additives with investments of around EUR 200 million until 2021. As per the company, with the acquisition of the United States Company Chemtura Corporation in spring 2017, it became one of the world’s leading suppliers of flame retardant additives. With this investment package, the company will further strengthen their strong position in the growing market. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Flame Retardants market throughout the predicted period.
Albemarle Corporation (United States), Lanxess Aktiengesellschaft (Germany), Israel Chemicals Ltd. (ICL) (Israel), Clariant (Switzerland), Nabaltec AG (Germany), The Dow Chemical Company (United States), BASF SE (Germany), Akzo Nobel N.V. (Netherlands), Italmatch Chemicals S.p.A. (Italy) and Huber Engineered Materials (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Dover Corporation (United States), Broadview Technologies, Inc. (United States), Almatis GmbH (Germany) and Borealis AG (Austria).
Segmentation Overview
The study have segmented the market of Global Flame Retardants market by Type ((Alumina Trihydrate) ATH, Antimony Oxide, Brominated Flame Retardants, Chlorinated Flame Retardants, Phosphorous Flame Retardants and Others), by Application (PVC (PolyVinyl Chloride), Unsaturated Polyester, Epoxy Resins, Rubber, Polyolefins and Others [Engineering Thermoplastics and PET]) and Region with country level break-up. On the basis of Type, (Alumina Trihydrate) ATH are dominating the market in the year 2023
On the basis of geography, the market of Flame Retardants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2023.
Influencing Trend:
increase the material resistance to fire and decrease the flame spreading speed and heat release
Market Growth Drivers:
Growing Fire Safety Regulations, Growing End-Use Industries to Drive Flame Retardant Market and Rising Use of Flame Retardant Optical Fibers
Challenges:
Environmental & Health Concerns Regarding Use of Conventional Flame Retardants
Restraints:
Concerns Related To Toxicity of Flame Retardants and Growing Prices of Flame Retardant Chemicals
Opportunities:
Emerging Technologies in Fire Retardants and Development of More Effective Synergist Compounds
Market Leaders and their Expansionary Development Strategies
In May 2024, J.M. Huber Corp. has signed a definitive agreement with RHI Magnesita (RHIM) to acquire their 50% ownership stake in the companies’ non-halogenated flame retardants 50/50 joint venture, Magnifin Magnesiaprodukte GmbH & Co. KG,
In October , 2023 Clariant, a sustainability focused specialty chemical company, today marks another milestone in its China Strategy with the official opening of its new state-of-the-art production facility for halogen-free flame retardants in Daya Bay, Huizhou.
Key Target Audience
Flame Retardants Manufacturers, Raw Materials Suppliers, Flame Retardant Traders, Distributors, and Suppliers, Insulation Product Manufacturers, Government and Research Organizations, Industry Associations, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.