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Global Non-Halogenated Flame Retardants Market Growth Analysis 2024: Italmatch Chemicals, BASF, Albemarle, FRX Polymers and DuPont
Non-Halogenated Flame Retardants Market
Non-halogenated flame retardants industry size worth over USD 1.6 billion in 2017, is projected to register a CAGR of around 8% over 2018-2024. Factors like wide applications of polymers in automobile and construction sectors to improve their fire resistance is predicted to boost the industry growth.
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However, ecological issues related to the use of brominated products is predicted to negatively impact the environment hindering the industry growth. Furthermore, scarcity of key raw materials like Phosphorus and Aluminum hydroxide can pose a threat to industry growth due to its high loading features.
Aluminum hydroxide segment is predicted to exceed 1.8 million tons growing at a rate of around 7% over 2018-2024 as a result of its cost-effectiveness and thermodynamic properties. Furthermore, its extensive use in paints, rubber and polymers have added to segment growth.
Epoxy resins market size is anticipated to witness a high growth rate of around 7.5% over forecast timeframe due to applications in paints & coatings, adhesives, and electronic devices as a result of its fire resistance characteristics.
Engineering thermoplastics segment can exceed USD 280 million by the end of 2024 owing to its use in the production of medical devices and vehicle parts.
Polyolefins market size worth over USD 450 million in 2017, is predicted to record a CAGR of 8.5% over the forecast timeframe. Its applications in wires & cables and laboratory equipment for safety purposes is predicted to drive the application segment growth.
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Construction industry is predicted to exceed USD 1.2 billion by the end of 2024. The growing use of polymers as safety materials in switchboards and wires & cables in construction industry along with applications in paints & coatings is predicted to drive the segment growth over the period of 2016-2024.
Electrical industry segment is predicted to register a CAGR of around 7.5% over the forecast timeline The growth of the segment can be attributed to the smoke, acidity, and toxin reducing properties of halogen free cables used in electrical applications for environmental safety.
North America non-halogenated flame retardants market size worth over USD 750 million in 2017, is predicted to produce over USD 1.25 billion by the end of 2024. U.S. non-halogenated flame retardants industry dominated the North American industry in terms of revenue, with Aluminum Hydroxide contributing to a major portion of the overall revenue share over the forecast timeline.
Asia Pacific non-halogenated flame retardants market is predicted to grow at a CAGR of around 8% over 2018-2024. Factors such as fire safety issues and the huge presence of production units are predicted to contribute towards the growth. Countries like India, China, and Indonesia are predicted to contribute towards the regional growth as a result of heavy investments in the construction sector.
Latin America is predicted to contribute towards the industry growth over the forecast timeline due to the presence of a large amount of automobile manufacturers.
Middle East & Africa with good infrastructure facilities in countries like South Africa, Saudi Arabia, UAE, and Qatar are predicted to promote the industry growth over the forecast timeline.
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Key industry players include Italmatch Chemicals, BASF, Albemarle, FRX Polymers, and DuPont.
Segments Covered in this Report:
By Product
• Aluminum Hydroxide
• Phosphorous based flame retardants
By Application
• Polyolefins
• Epoxy resins
• Unsaturated polyester
• Polyvinyl Chloride
• Engineering thermoplastics
• Rubber
• Styrenics
By End Use
• Construction
• Electrical
• Transportation
The above information is provided on a regional and country basis for the following:
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Russia
• Poland
• Asia Pacific
• China
• India
• Japan
• Malaysia
• Thailand
• Indonesia
• Australia
• South Korea
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Latin America
• Brazil
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearh.com
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