Flame Retardants Market Business Opportunities, Forecast 2030 Analysis and Top Manufacturing Companies

The Global Flame Retardants Market was valued at $8.39 billion in 2019, and is expected to reach $16.60 billion by 2030, with a CAGR of 6.4% during the forecast period 2020- 2030.

Flame Retardants are a diverse group of chemicals that are applied on textile, wood, plastic or semiconductors in order to prevent fast growth of fire. Use of flame retardants play a vital defensive role in saving property and lives by decreasing the fire risk associated with the usage of highly combustible materials in products such as plastic, textile and many more. For instance, steel is coated with flame retardants to provide thermal insulations in case of fire. Flame retardants are also used in forest fire in order to reduce the speed of fire spread.

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Top Companies: Broadview Technologies Inc. The Dow Chemical Company, BASF SE, Clariant Corporation, Dover Corporation, Akzo Nobel N.V., ICL Industrial Products, Albemarle Corporation, Nabaltec AG.,Lanxess AG.

Market Dynamics and Trends:

Flame retardants market has been witnessing rapid growth in sales due to the growing industrialization and rising number of newly constructed commercial buildings. Flame retardants, when added to materials increases its durability and makes it fire-proof. For instance, in the aircraft manufacturing industries, flame retardants are used in panels, carpet and flooring to minimize the risk of fire. Furthermore, the high productivity and low cost are some of the factors leading to the growth of flame retardants market.

On the contrary, the health risks associated with flame retardants such as endocrine disruption, reproductive toxicity, cancer, etc. hinders the market growth. However, the producers of flame retardants have responded to these concerns, and are developing more environmentally compatible products, mainly non-halogenated alternatives. Also, the sudden growth in demand for flame retardants in industries manufacturing aircrafts, vehicles, electronic appliance, buildings and many more to avoid fire and for other applications, will be the key factor providing opportunities for the flame retardant market growth.

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Market Segmentations and Scope of the Study:

The global flame retardants market has been segmented on the basis of type, application, end use industry, and geography. Based on type, the market is divided into alumina tri-hydrate, brominated flame retardants, antimony trioxide, phosphorus flame retardants, and others. On the basis of application, the global flame retardants market is bifurcated into unsaturated polyester resins, epoxy resins, PVC, rubber, polyolefins, and others. By end user industry, the global flame retardants market is segmented into construction, automotive & transportation, electronics, and others (textile, aerospace, and adhesives). Geographically, the global flame retardants market is segmented into North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North-America has been dominant in the consumption of flame retardants compared to other regions due to the increasing fire safety regulations. According to the report, North America itself has around 8 million buildings which require fire safety measures. Furthermore, the expansion of industries and the construction of innumerable commercial buildings with proper fire safety measures is another reason favouring the growth of flame retardant market. However, the region of Asia Pacific will witness greater consumption of flame retardants due to the rapid rise in population and migration of people from rural to urban areas making it densely populated.

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