Press release
Non halogenated flame retardants market trends, forecasts by key players like Israel Chemicals, Albemarle, Clariant, BASF, DuPont, DSM
non halogenated flame retardants market
In 2015, China accounted for over 40% of construction sector turnover. APAC non halogenated flame retardants market share is estimated to garner revenue of more than USD 800 million by the end of 2024 on account of rapid expansion of construction sector across the region.
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Non-halogenated flame retardants have gained significant prominence in the construction sector with the introduction of stricter fire safety regulations. In the European region, the use of fire retardants in building and construction is governed by directives such as REACH and WEEE. The WEEE directive 2012/19/EU aims to improve recycling capacity of a wide range of commonly used flame suppressants.
Modern fire safety norms consider several parameters including fire resistance capacity, ecological effects, and toxicity before authorizing sales and distribution of fire retardants. Global Market Insights, Inc., forecasts that global non halogenated flame retardants market size will be worth more than US$3.4 billion by 2024, with growing urbanization and the subsequent rise in infrastructure development over the next few years.
North America non halogenated flame retardants market size was valued at US$1.3 billion in 2015 and is slated to grow substantially by 2024. The enforcement of new federal government regulations by the U.S. Environment Protection Agency (EPA) is limiting the utilization of chlorine and bromine based fire retardants and encouraging the adoption of biobased substitutes.
In 2015, North America’s electrical sector alone utilized more than 100 kilo tons of fire suppressants. Similar trends will certainly augment the product consumption in the upcoming years. Meanwhile in Europe, the consumption of phosphorous based flame retardants is estimated to exceed more than 120 kilo tons by 2024.
Regulatory restrictions by ROHS, REACH in Europe and WEEE directives for halogenated flame retardants along with increasing evaluation of alternatives will drive global non halogenated flame retardants market forecast. Halogen free flame retardants are experiencing high demand from several industries as they produce less smoke and less toxic components in smoke.
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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.
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