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Flame Retardants Market Size to Reach $11.5 Billion by 2029 | Growth at 6.8% CAGR Forecast
Flame Retardants Market Size
What is the Projected Market Size of the Flame Retardants Industry?
There has been a steady increase in the size of the flame retardants market in the past few years. Projected growth is from $8.42 billion in 2024 to $8.83 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. The historical growth in this market is due to factors such as manufacturing of consumer goods, heightened safety concerns in the transport sector, rising awareness about fire risks, expansion of the electronics industry, and strict regulations regarding fire safety.
What Will Be the Size of the Flame Retardants Market by 2029?
The market for flame retardants is poised for robust growth in the coming years, with projections indicating that it will reach a size of $11.5 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.8%. This growth during the forecast period will be impelled by factors such as fast-paced urbanization, rising consumption of electronic devices, the need for eco-friendly flame retardants as well as global initiatives to reduce incidences of fire. Key trends during the forecast period encompass advancements in nanotechnology, increased applications in the automotive sector, partnerships for research and development, enhanced consumer awareness, product labelling, usage in textiles and upholsteries, and worldwide expansion and market penetration.
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What Are the Key Drivers Accelerating Growth in the Flame Retardants Market?
The flame retardants market is projected to expand due to the escalating demand for electronic goods. This surge in demand is stimulated by rapid advancements in technology, swift product replacement cycles, increased disposable income, and shifting consumer tastes. During the manufacturing process, flame retardants are chemically fixed to the electronic circuit boards, effectively stopping any chemicals from seeping into the environment and potentially endangering consumer health. The India Brand Equity Foundation (IBEF), a government-authorized agency for export promotion in India, has forecast a 30% year-over-year growth in the electronics manufacturing sector from 2020 to 2025, which translates into a leap in production of $163.14 billion. Consequently, the booming demand for electronic products will stimulate a parallel increase in flame retardants demand.
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How Is the Flame Retardants Market Segmented by Type, Application, and Region?
The flame retardants market covered in this report is segmented -
1) By Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
2) By Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics And PET)
3) By End User: Construction, Automotive And Transportation, Electronics, Other End-Users (Textiles, Aerospace, And Adhesives)
Subsegments:
1) By Alumina Trihydrate: Natural Alumina Trihydrate, Synthetic Alumina Trihydrate
2) By Brominated Flame Retardants: Tetrabromobisphenol A (TBBPA), Decabromodiphenyl Ether (DecaBDE), Hexabromocyclododecane (HBCD), Other Brominated Compounds
3) By Antimony Trioxide: Antimony Trioxide (Sb2O3), Other Antimony Compounds
4) By Phosphorous Flame Retardants: Organophosphate Esters, Red Phosphorus, Phosphinate, Other Phosphorous Compounds
5) By Other Types: Inorganic Flame Retardants, Nitrogen-Based Flame Retardants, Intumescent Flame Retardants, Other Specialized Flame Retardants
What Are the Key Trends Driving Growth in the Flame Retardants Market?
Product innovation has been recognized as a primary trend in the flame retardants market, with leading companies in the sector focusing on generating new products to fulfill customer requirements. For instance, Asahi Kasei Corporation, a chemical company based in Japan, announced in September 2024 the launch of its LASTAN flame-retardant nonwoven fabric. This fabric stands out for its extraordinary flame resistance, capable of withstanding temperatures up to 1,300 °C and a limiting oxygen index (LOI) of 50 or more, which ensures maximum safety for EV battery applications. Its light and flexible structure makes it easy to mould into intricate shapes, positioning it as an optimal choice compared to conventional materials, offering superior thermal runaway protection and improved resiliency against particle impacts.
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Who Are the Leading Companies Driving Growth in the Flame Retardants Market?
Major companies operating in the flame retardants market are BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A., Nabaltec AG, Du Pont de Nemours and Company, Koninklijke DSM NV, Israel Chemicals Limited, Budenheim Chemicals KG, Eastman Chemical Company, Hangzhou Lingrui Chemical Company Limited, Hongbaoli Group Company Limited, Huntsman International LLC, Daihachi Chemical Industry Co. Ltd., DIC Corporation, Dow Chemical Company, Nyacol Nano Technologies Inc., Rinkagaku Kogyo Co. Ltd., RTP Company, Sanwa Chemical Co. Ltd., Shandong Brother Sci. & Tech. Co. Ltd., Tor Minerals International Inc., Tosoh Corporation, UFP Industries Inc., Lubrizol Corporation, Akzo Nobel NV, Clariant International Ltd., Sinopec Shanghai Petrochemical Company Limited
Which Is the Leading Region in the Global Flame Retardants Market?
Asia-Pacific was the largest region in the flame retardants market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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