Halogen-Free Flame Retardant Market Trend with Global Foresight 2023 by Clariant AG, LANXESS, J. M. Huber Corporation, Israel Chemicals, Nabaltech, BASF SE, Celanese Corp, RTP Company, Greenchemicals SpA, Kisuma Chemicals and Amfine Chemical Corporation

Market Overview:

Flame Retardants are polymers that are added to other materials such as plastics, textiles and coatings to prevent or delay the further development of ignition. Halogen-Free Flame Retardants are non-halogenated retardants; hence they do not cause any adverse effect on the environment. Market Research Future (MRFR) has recently published a detailed report stating that the Global Halogen-Free Flame Retardant Market is registered to expand steadily at a CAGR of 5.76% during the forecast period of 2018-2023 and is anticipated to reach the valuation of USD 3067.05 Mn by the end of 2023 from USD 2191.95 Mn in 2017.

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Market Drivers and Restraints:

Increasing adoption of environment-friendly substances for production of Flame Retardants owing to the stringent regulatory laws imposed by the governments in various regions such as Restriction of Hazardous Substances (RoHS) and others are some of the primary factors that are driving the Global Halogen-Free Flame Retardants Market.

The high demand for Halogen-Free Flame Retardants in rapidly expanding industrial sectors such as electronics, construction, transportation and others are fueling the growth of the Global Halogen-Free Flame Retardant Market. However, high loading levels of Halogen-Free Flame Retardants are projected to be creating hindrance in the growth of the Global Halogen-Free Flame Retardants Market during the forecast period.

Market Segmentation:

The Global Halogen-Free Flame Retardant Market has been segmented on the basis of Type, Resin Type and End-Use Industry. Based on Type, the Halogen-Free Flame Retardant Market is segmented into aluminum trihydrate, phosphorous-based, magnesium hydroxide and others. Based on Resin Type, the Halogen-Free Flame Retardant Market is segmented into polyethylene, polypropylene, epoxy, unsaturated polyesters, polyvinyl chloride, styrenics, engineered thermoplastics, rubber, and others. Based on end-use industry, the Halogen-Free Flame Retardant Market is segmented into building & construction, electrical & electronics, transportation, consumer goods and others.

Regional Analysis:

The Global Halogen-Free Flame Retardant Market spans across five major regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, the Halogen-Free Flame Retardant Market in the Asia Pacific region accounts for the major share in the Global Halogen-Free Flame Retardant Market due to the high demand for Halogen-Free Flame Retardants in the rapidly expanding electronics and electrical industry in the countries such as China, Japan, Taiwan and South Korea. Increasing construction activities in emerging economies like India and China are propelling the growth of the Halogen-Free Flame Retardant Market in this region.

The Europe region is projected to be the second largest market for Halogen-Free Flame Retardants owing to the strict environmental policies and restriction on the use of hazardous chemicals in this region. The expansion of automotive industry in the Europe region is also projected to fuel the growth of the Halogen-Free Flame Retardant Market in this region.

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This release was published on openPR.