Flame Retardant Market Scope
Flame retardant is defined as the substance which is added to combustible materials in order to prevent fires. Various advantages of using flame retardant such as save lives, minimize the environmental impact of fire, among others. There is a significant demand for fire protection across the world. For instance, as per an article published by National Fire Protection Association (NFPA), approximately 1.3 million fires were reported in the United States and more than 2,855 civilian fire deaths, 16,500 civilian injuries and more than USD 12.4 billion in property damage in 2012. Hence, rising demand for fire protection and increasing urban population worldwide are likely to be a major driver for the flame retardant market over the forecast period
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Asia-Pacifc |
Unit | Value (USD Billion) |
Key Companies Profiled | Akzo Nobel NV (Netherland), Albemarle Corporation (United States), BASF SE (United States), Borealis GmbH (Austria), Budenheim Iberica SLSC (Spain), Campine NV (Belgium), Chemtura Corporation (United States), Shenyang Huachang Antimony Chemical Co., Ltd (China) and Clariant International Limited (Switzerland) |
CAGR | 6.6% |
The market is highly fragmented with the presence of various player such as Akzo Nobel NV (Netherland), Albemarle Corporation (United States), BASF SE (United States), among others Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Flame Retardant market throughout the predicted period.
Akzo Nobel NV (Netherland), Albemarle Corporation (United States), BASF SE (United States), Borealis GmbH (Austria), Budenheim Iberica SLSC (Spain), Campine NV (Belgium), Chemtura Corporation (United States), Shenyang Huachang Antimony Chemical Co., Ltd (China) and Clariant International Limited (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Cytec Industries Incorporated (United States), Daihachi Chemical Industry Company (Japan), Dover Chemical Corporation (United States), Glencore International AG (Switzerland), Albemarle Corporation (United States), Chemtura Corporation (United States) and Clariant International Limited (Switzerland).
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.
Segmentation Overview
The study have segmented the market of Global Flame Retardant market by Type , by Application (Polyolefins, Epoxy resins, Unsaturated Polyester, Polyvinyl Chloride, Engineering Thermoplastics, Rubber, Styrenics and Others) and Region with country level break-up. On the basis of Type, Non Halogenated Flame Retardant are dominating the market in the year 2023 where as Halogenated Flame Retardant stood as second largest market share.
On the basis of application, Polyolefins segment is dominating the market in the year 2023
On the basis of geography, the market of Flame Retardant 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-Pacifc region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2022,AkzoNobel has completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio
In April 2018, the Huntsman Corporation (United States) company has launched flame retardant TPUs with the new standard for connection protection. Hence, this launched will increase the product portfolio of the company
Influencing Trend:
Rising Urbanization Population across the World and Government Initiatives to Provide Affordable Housing
Market Growth Drivers:
Rising Demand from Current & Emerging Applications such as Polyolefins, Epoxy resins, Unsaturated Polyester, among others and Increasing Usage of Flame Retardant in Various Ends Use Industries Such as Automotive, Construction, and Others
Challenges:
Problem Regarding the Flame Retardants Inspire Weight Problems and Cause Melanoma
Restraints:
Issue related to Flame Retardants contaminate the environment
Opportunities:
Growing Demand from Emerging Economics such as China, India, Brazil, Philippines, among others
Key Target Audience
Raw Material Suppliers and Distributors, Flame Retardant Manufacturers, Government and Research Organizations, Associations and Industrial Bodies and Others