Chlorinated Flame Retardants Market to observe high growth by 2024
Chlorinated flame retardants belong to a group of chemical compounds that are used as additives to suppress fire in plastics and other products. They are used to reduce the devastating effect of fire on environment and people. Flame retardants suppress fire in two ways: either they stop the process from starting or they gradually slow down the chemical reaction. They are mixed or chemically bonded with the base material. They do not modify the properties of the base material but delay the burning process by intervening in the fire cycle and hindering the chemical chain reaction. Increasing safety awareness regarding fire-proof products has led to growth of the chlorinated flame retardants market.
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Based on chemistry, the market for chlorinated flame retardants can be segmented into aromatic, aliphatic, and cycloaliphatic compounds. Based on application, the market has been segmented into polyvinyl chloride, polyefins, rubber, epoxy resins, and unsaturated polyesters. Based on the end–use, the market can be segregated into building & construction, electrical & electronics, textiles, and automotive.
The market for chlorinated flame retardants is anticipated to expand moderately during the forecast period, owing to the increasing awareness among consumers about fire-proof products. Another driver for this market is stringent safety regulations regarding fire safety across industries. However, stern government regulations regarding some of the chlorinated flame retardants such as polychlorinated biphenyl (PCB) are adversely affecting the market.
Among chemistry segments, the aliphatic compounds segment held a significant share of the market in 2015. The segment is projected to expand at a moderate rate during the forecast period, owing to good thermal stability of chlorinated aliphatic compounds. They are used not only in polyefins and polyamides but also in the fabrics & paints industry. Rising use of polyefins in roofing, cables, and automotive products is likely to increase the demand for chlorinated flame retardants in the next few years. The market for unsaturated polyesters and polyvinyl chloride is expanding, due to their several applications in industries such as building & construction, automotive, and wires. A restraint for the chlorinated flame retardants market is high toxic levels of these flame retardants, which is the cause of bio-accumulation in plants and living beings. Availability of alternatives such as non-halogenated flame retardants are likely to hinder the growth of the market during the forecast period. High cost and high loading levels are factors anticipated to restrain the growth of the chlorinated flame retardants market during the same period.
Asia Pacific holds a significant share of the global chlorinated flame retardants market. The region is projected to offer immense growth potential for the market in the next few years. Increasing awareness among consumers regarding fire-safe products and growth of end-use industries in the region are estimated to drive the chlorinated flame retardants market in Asia Pacific. Due to rapidly expanding automotive and electronics industries in the region, demand for chlorinated flame retardants is expected to rise. High investments in the building & construction sector are likely to increase the demand for chlorinated flame retardants in the developing economies of Asia Pacific such as India and China. Asia Pacific is followed by Europe and North America, owing to the increasing awareness among consumers about fire-safe electronic products and the concern about safety of human health and environment in the two regions. The chlorinated flame retardants market in Middle East & Africa is anticipated to expand at a significant rate during the forecast period, owing to the robust manufacturing industry in the region.
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Key players operating in the chlorinated flame retardants market include Akzo Nobel N.V, Israel Chemicals Limited, Kisuma Chemicals, and Dover Chemical Corporation.
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