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Global Non Halogenated Flame Retardants Market 2016: 2013-2024 Analysis & Forecasts - Non Halogenated Flame Retardants Market to Reach $2 Billion Growing at a CAGR of 8% | ICL Group, Albemarle Corporation, Clariant, BASF, DuPont, DSM, Lanxess
Europe Non Halogenated Flame Retardants Market size, by end use, 2013-2024 (USD Million)
Non-halogenated flame retardants market is likely to experience remarkable growth prospects, as per statistics, possibly owing to the extensive usage of the product across the construction and automotive sectors. Polymers are abundantly used in automobiles to reduce the overall weight of the vehicle. In addition, they also help enhance the vehicle’s efficiency. However, it is common knowledge that a polymer component is likely to catch fire subject to excessive heating.
In order to avoid such fatalities, it is recommended that non-halogenated flame retardants be used in automotive parts, thereby stimulating the business trends. Growing awareness among the consumers across the globe about toxicity will also positively influence Non-halogenated flame retardants industry size. According to Global Market Insights, Inc., “Worldwide Non-halogenated flame retardants market, having had a revenue of USD 1 billion in 2015, will generate considerable revenue by 2024, with an annual growth rate of more than 8% over 2016-2024.”
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Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.
Non Halogenated Flame Retardants Market size is anticipated to exceed USD 3.4 billion till 2024; as per a new study published by Global Market Insights, Inc. Increasing investment in the construction sector coupled with stringent regulations towards fire safety will propel the industry outlook.
Europe non halogenated flame retardants market is governed by regulations introduced by WEEE and REACH. WEEE directive 2012/19/EU aims to substantially increase recycling capacity and cover additional group of products. Various parameters including toxicity, ecological effects and fire resistance capacity are considered before authorizing sales and distribution of fire suppressants.
Growth drivers
• Positive regulatory outlook
1. Increasing plastic/polymers demand from transportation industry
2. Rising infrastructure and construction spending
• Industry pitfalls & challenges
1. Performance deficiency against halogenated flame retardants
Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.
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Increasing polymer adoption in automotive and construction industries will impel non halogenated flame retardant market demand. Polymers are base material with chemically linked additives to suppress fire. Chlorine and bromine based additives used in manufacturing polymers will have negative impact on the ecosystem owing to large quantities of toxic materials present.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ICL Group
2. Albemarle Corporation
3. Clariant
4. Chemtura Corporation
5. BASF
6. Italmatch Chemicals Spa
7. Huber Engineered Materials
8. DuPont
9. Nabaltec AG
10. DSM
11. Thor Group Limited
12. Lanxess
13. Delamine B.V.
14. FRX Polymers, Inc.
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
Browse key industry insights from the report, “Non Halogenated Flame Retardants Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/non-halogenated-flame-retardants-market-report
North America non halogenated flame retardants market size, led by U.S., will surpass USD 1.3 billion in 2015. Federal government guidelines laid down by the Environment Protection Agency will stimulate sales of bio based products and limit brominated and chlorinated fire suppressors demand. In 2015, North America electrical industry used more than 100 kilos ton fire suppressants.
For Europe non halogenated flame retardants market size by phosphorous based retardants is expected to generate demand exceeding 120 kilo tons by 2024. Aluminum hydroxide is expected to grow over 8% by 2024, subject to wide application in industries including electronics, construction and electrical equipment.
Middle East non halogenated flame retardants market share will witness growth over 9% by 2024 owing to large scale infrastructural development coupled with stringent regulations towards safeguarding construction activities. Asia Pacific non halogenated flame retardants industry is set to exceed USD 800 million by 2024, subject to rapid growth in construction industry. China accounted for over 40% of construction sector in the region in 2015. Latin America transportation industry witnessed demand surpassing 3 kilo tonnes by 2015 and will grow significantly over the forecast period.
Notable industry participants including Albermarle, Nabaltec, BASF, Israel Chemicals, Clariant, Chemtura, Italmatch Chemicals, and Huber. The companies integrate backwards to negate possible raw material scarcity. Industry players are increasingly focusing on broadening their product portfolio by adding fire suppressants with low toxicity made from magnesium hydroxide, melamine and phosphorus. Demand supply deficit of raw material may jeopardize non halogenated flame retardants market price.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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