Flame Retardant Market | Key players: Albemarle, ICL, Clariant, Lanxess, Nabaltec, The Dow Chemical Company, BASF, Akzo Nobel, Italmatch, and Huber Engineered Materials

According to recent research "Flame Retardant Market by Type (ATH, Antimony Oxide, Brominated, Chlorinated, Phosphorous), Application (Epoxy, Polyolefins), and End-use Industry (Building & Construction, Electronics & Appliances, Wire & Cables, Automotive) - Global Forecast to 2021", published by MarketsandMarkets™, The global flame retardants market is projected to reach USD 12.81 Billion by 2021 at a CAGR of 6.4% between 2016 and 2021. The market is majorly driven by growth of the end-use industries and increasing fire safety regulations.

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Growth prospects for the flame retardants market are positive with the market size projected to witness a CAGR of 6.4% between 2016 and 2021, in terms of value. Asia-Pacific is estimated to be the largest market during the forecast period, followed by North America and Western Europe. In terms of end-use industry, the building & construction dominates the flame retardants market. Aluminum trihydrate is the most widely used flame retardant worldwide.

Emerging technologies and developing more effective synergist compounds will be the key opportunities for flame retardant players in the future. For instance, there is an increasing trend of technological advancement, with manufacturing companies shifting to the use of lightweight and durable nanoparticles/nano-fillers in their polymer matrix. The Dow Chemical Company (U.S.) introduced the new polymeric technology. Polymers are reinforced with nanoparticles either by melt compounding or in-situ polymerization. The blend exhibits high thermo-mechanical and flame retardant properties by adding only 2%–5% of these particles. The main challenge posed by nanotechnology is its higher cost than other flame retardant technologies. However, their long-term benefits prove to be much more lucrative for them in such blends. According to a study by the National Institute of Standards and Technology (NIST), the nano-based retardants are comparatively less toxic and their chemical consumption by weight is 30% lower than conventional flame retardants with no effect on their final properties.

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Growth of the flame retardants market is restricted by factors, such as the toxic nature of halogenated flame retardants and high loading levels of non-halogenated flame retardants altering the properties of final products. The opportunity for flame retardant manufacturers lies in developing more effective synergist compounds to boost the performance of flame retardants. Synergist blends help in reducing the amount of halogenated flame retardants by percent weight, thus reducing the toxicity and improving the retardant properties.

In this scenario, it is extremely important that the players operating in the market remain competitive by adopting key growth strategies. The companies are aiming at increased market penetration at regional level by making expansions in production units or by introducing new innovations in the existing product lines meeting the guidelines of fire safety standards and environmental regulations. Global players have adopted a focused approach of expanding into emerging markets through expansions and new product launches.

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ICL (Israel) announced the expansion of its polymeric flame retardant F-122P by establishing a production facility of capacity of 10,000 metric ton. The company also increased its production for Fyrol HF-5 to meet the growing demand. ICL signed an agreement in January 2012 to use the patents of The Dow Global Technologies (U.S.) for the production of an innovative polymer flame retardant FR 22P.

Lanxess AG (Germany) opted new product launch as a strategy to gain a strong foothold in the market. For instance, it developed Polyamide-6, a non-halogenated flame retardant of high thermal stability. The company also launched Durethan BG XF30 and Durethan BG 30 X FN01 for application in glass. It launched thermostable flame retardants at UTECH Europe with products names FRP 45, Levagard DMPP, TEP-Z, Disflamoll TOF, and DPK. It also invested USD 6.45 million for expansion in capacity by 10% of its phosphorous flame retardants group.

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