Press release
Chlorinated Flame Retardants Market Strategies and Forecasts 2024
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Based on chemistry, the market for chlorinated flame retardants can be segmented into aromatic, aliphatic, and cycloaliphatic compounds. Based on application, the market has been segmented into polyvinyl chloride, polyefins, rubber, epoxy resins, and unsaturated polyesters. Based on the end–use, the market can be segregated into building & construction, electrical & electronics, textiles, and automotive.
The market for chlorinated flame retardants is anticipated to expand moderately during the forecast period, owing to the increasing awareness among consumers about fire-proof products. Another driver for this market is stringent safety regulations regarding fire safety across industries. However, stern government regulations regarding some of the chlorinated flame retardants such as polychlorinated biphenyl (PCB) are adversely affecting the market.
Among chemistry segments, the aliphatic compounds segment held a significant share of the market in 2015. The segment is projected to expand at a moderate rate during the forecast period, owing to good thermal stability of chlorinated aliphatic compounds. They are used not only in polyefins and polyamides but also in the fabrics & paints industry. Rising use of polyefins in roofing, cables, and automotive products is likely to increase the demand for chlorinated flame retardants in the next few years. The market for unsaturated polyesters and polyvinyl chloride is expanding, due to their several applications in industries such as building & construction, automotive, and wires.
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A restraint for the chlorinated flame retardants market is high toxic levels of these flame retardants, which is the cause of bio-accumulation in plants and living beings. Availability of alternatives such as non-halogenated flame retardants are likely to hinder the growth of the market during the forecast period. High cost and high loading levels are factors anticipated to restrain the growth of the chlorinated flame retardants market during the same period.
Asia Pacific holds a significant share of the global chlorinated flame retardants market. The region is projected to offer immense growth potential for the market in the next few years. Increasing awareness among consumers regarding fire-safe products and growth of end-use industries in the region are estimated to drive the chlorinated flame retardants market in Asia Pacific.
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