Press release
Flame Retardants Market The Sky's the Limit for Market Size in the Future | Albemarle Corporation, BASF SE
Global Flame Retardants Market is valued at approximately USD 8.06 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8% over the forecast period 2022-2029. Flame retardants are chemical compounds that are added to flammable materials such as plastics, textiles, and coatings to prevent a fire from starting or to slow down its growth.They are different substances having a variety of molecular structures, as well as different chemical and physical properties. These substances are either included in the products as an additive or introduced as a copolymer during the polymerization process. Products including foams, computers, mattresses, electric lines, insulation materials, and vehicle parts all include these chemicals. The major factor driving the market growth is the increase in regulations relating to fire and safety.
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The prevention of fire and explosion-related accidents at workplaces, industries, and public spaces is a primary concern for the governments of various countries. To promote the use of these retardants, has resulted in the implementation of strict regulations and laws for the industries. Also, another factor driving the market growth is growing demand in building and construction sector that create lucrative demand for the market during the forecast period.
According to Statista, the growth rate of construction industry across India was 5.65 percent from fiscal year 2015 to 2020, up from about 2.95% from fiscal year 2010 to fiscal year 2015. Also, escalating demand from the electronics sector would create lucrative opportunities for the market during the forecast period. However, the environmental & health issues associated with the use of flame retardants stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Flame Retardants Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to the increasing demand for electrical components in various applications, such as wiring, power cables, and connectors and rising demand in building, transportation, and electronic devices. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising demand for flame retardants in building & construction, electrical & electronics, automotive, and textiles industries.
Major market players included in this report are:
Albemarle Corporation
BASF SE
DOW
Eastman Chemical Company
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Hangzhou Lingrui Chemical Co. Ltd.
Hongbaoli Group Co. Ltd.
Huntsman International Llc
Lanxess
Muby Chemicals
Sasol
Recent Developments in the Market:
In 2021, Liquid Masteret, a new phosphorous flame retardant, was launched by Italmatch Chemicals S.p.A. The company introduced its concentrated combinations of micro-encapsulated and stabilised red phosphorus (RP). The product is used in the automotive, electrical & electronics, and construction industries, especially when halogen is not recommended due to the highly toxic smoke it generates in the case of a fire.
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Alumina Trihydrate
Brominated Flame Retardants
Antimony Trioxide
Phosphorous Flame Retardants
Others
By Application:
Unsaturated Polyester Resins
Epoxy Resins
PVC
Rubber
Polyolefins
Others
By End-User Industry:
Construction
Automotive & Transportation
Electronics
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
Here is an overview of the different factual statements covered by the study:
The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.
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