Flame Retardant Chemicals Market Size, Share, Growth Analysis, By Types(Brominated, Chlorinated Phosphates, Antimony Trioxide, Aluminum Hydroxide), By End-Users(Electrical and Electronics, Buildings and Construction, Transportation, and Textiles and Furniture), By Region - Industry Forecast 2024-2031

Flame Retardant Chemicals market size was valued at USD 7.62 billion in 2022 and is poised to grow from USD 8.06 billion in 2023 to USD 12.66 billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).

A small number of significant firms control the very competitive industry for flame retardant chemicals. To enhance their product offerings and broaden their market reach, many businesses are constantly engaged in research and development operations. Using a variety of tactics, including mergers and acquisitions, partnerships, and collaborations, these businesses are concentrating on increasing their market penetration. For instance, in July 2022, BASF SE teamed up with THOR GmBH, a manufacturer of firefighting equipment. The product line of non-halogenated flame retardant chemicals will be strengthened by this tactical approach. In order to introduce fresh and cutting-edge flame retardant chemicals that fulfill the changing needs of their clients, they are also engaging in research and development efforts. 'Clariant AG', 'LANXESS AG', 'Albemarle Corporation', 'Dow Inc.', 'BASF SE', 'Akzo Nobel N.V.', 'ICL Group Ltd.', 'Nabaltec AG', 'Italmatch Chemicals S.p.A.', 'Nippon Carbide Industries Co., Inc.', 'Israel Chemicals Ltd.', 'J.M. Huber Corporation', 'RTP Company', 'Budenheim Iberica SLU', 'Thor Group Limited', 'PCC SE', 'Momentive Performance Materials Inc.', 'DIC Corporation', 'Zhejiang Wansheng Co., Ltd.', 'Shandong Brother Sci.&Tech. Co., Ltd.', 'In March 2024, FRX Innovations, Inc. announced that on February 23rd, the European Union’s Chemical Agency, ECHA, classified Tri Phenyl Phosphate (TPP), a widely used flame retardant additive, as a Substance of Very High Concern (SVHC). This classification was due to TPP's negative health effects, particularly its Endocrine Disruption properties. TPP is commonly used globally, both directly and as part of other flame retardants, in various applications such as automotive, consumer electronics, and printed circuit boards. ', 'In January 2024, a study highlighted the potential risk faced by pregnant women exposed to flame-retardant chemicals, indicating an elevated likelihood of premature birth. The study emphasized the widespread use of Organophosphate esters (OPEs) as flame retardants in various products including furniture, baby items, electronics, clothing, and building materials. Additionally, OPEs are utilized to enhance the flexibility of plastics. This adoption of OPEs by manufacturers followed the phase-out of flame retardants containing polybrominated diphenyl ether (PBDE) due to associated health hazards, as outlined by researchers. ', 'In October 2023, Clariant, a company committed to sustainability and specializing in chemicals, reached a significant milestone in its China Strategy by inaugurating its advanced production facility for halogen-free flame retardants in Daya Bay, Huizhou. The completion of this facility, representing a CHF 60 million investment, marks the first phase of a broader CHF 100 million investment. It is designed to cater to the increasing demands of component manufacturers in China and Asia for innovative and sustainable fire protection solutions. The facility will specifically address the needs of industries such as E-mobility, electronics and electrical equipment (E&E), transportation, 5G communications, infrastructure, and appliances. Furthermore, this initiative establishes local production of flame retardants and technical support teams in close proximity to customers, enhancing operational efficiency and customer service. '

Flame retardant chemicals are in high demand in a variety of industries, including building and construction, electronics, automotive, and textiles, as a result of rising fire safety concerns. Chemicals known as flame retardants are used to lower the risk of fire by preventing or delaying the ignition or combustion of materials. As the frequency of fire accidents globally keeps rising, the usage of these chemicals has become more crucial. People, governments, and businesses are becoming more and more conscious of the need of fire safety. The significance of fire safety in homes and workplaces is being recognized more and more by consumers. To make buildings, cars, and other things more fire-safe, governments are enacting strict restrictions. Also, businesses are improving the fire safety of their buildings and products. For instance, using flame retardant chemicals is now required in the building and construction sector to satisfy fire safety regulations. Organizations like the National Fire Protection Association have developed rules like NFPA 703. The NFPA 703 standard is for fire-resistant coatings for building materials and fire-resistant-treated wood. This standard offers criteria for characterizing and differentiating building materials with fire retardant coatings and timber treated with fire retardants. To lower the risk of fire, flame retardant chemicals are utilized in the electronics industry when producing electrical gadgets. In the upcoming years, it is anticipated that demand for flame retardant chemicals will rise as awareness of fire safety continues to rise.

Increasing demand for fire safety in buildings is projected to increase demand for flame retardant chemicals in the construction industry, which is expected to be a key driver for the market's expansion.

The Asia-Pacific region is anticipated to dominate Flame Retardant Chemicals market. This dominance is owing to rapid industrialization and urbanization, large population and growing middle class, stringent regulations, and availability of raw materials. A substantial portion of the product market is accounted for by the production facilities in Asia Pacific. China and India dominate the market.