USD 6.87 billion
Flame Retardants Market Size, Share, Growth Analysis, By Product(Halogenated and non-halogenated flame retardants), By Application(Epoxy, unsaturated polyester, polyolefins, polyvinyl chloride (PVC)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2338 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
68
|Figures:
75
Flame Retardants Market Insights
Flame Retardants Market size was valued at USD 6.87 billion in 2021 and is poised to grow from USD 7.22 billion in 2022 to USD 10.75 billion by 2030, at a CAGR of 5.1% during the forecast period (2023-2030).
The global flame retardants market is experiencing steady growth driven by factors such as stringent fire safety regulations, increasing awareness about fire hazards, and the growing demand for flame-resistant materials in various industries. Additionally, rising awareness among consumers regarding fire safety and the need for fire-resistant products is fueling the demand for flame retardants. The growing construction industry, particularly in developing regions, is also driving market growth as flame retardants are essential for enhancing fire safety in buildings. However, the market also faces challenges. One significant challenge is the environmental impact and potential health risks associated with certain flame retardant chemicals. Some traditional flame retardants contain toxic substances that pose environmental concerns and potential health hazards. The industry is increasingly focusing on developing and adopting environmentally friendly and safer flame retardant alternatives. Another challenge is the need to balance fire safety requirements with other performance characteristics of materials, such as mechanical strength and durability. Achieving the desired fire resistance while maintaining the desired properties of the end product can be a complex task.
US Flame Retardants Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Buildings and Construction
Fastest Growth
Buildings and Construction
Growth Rate
5.1% CAGR
Global Flame Retardant Chemicals Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Flame Retardants Market Segmental Analysis
The global Flame Retardants market is segmented on the basis of product, application, and region. By product, the market is segmented into halogenated and non-halogenated flame retardants. By application, the market is segmented into epoxy, unsaturated polyester, polyolefins, polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), polyamide, polystyrene, polyurethane (PU), polyethylene terephthalate (PET), and polybutylene terephthalate (PBT). By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Flame Retardants Market Analysis By Product
The global flame retardants market can be segmented by product type into halogenated and non-halogenated flame retardants. The dominant segment in the flame retardants market is halogenated flame retardants. Halogenated flame retardants, such as brominated and chlorinated compounds, are widely used in various industries due to their excellent fire suppression properties. These flame retardants release halogen radicals upon exposure to fire, which effectively interrupt the combustion process and inhibit the spread of flames. Halogenated flame retardants have been widely adopted in applications where stringent fire safety standards are required, such as electronics, automotive, and construction sectors.
The fastest-growing segment in the flame retardants market is non-halogenated flame retardants. Non-halogenated flame retardants are gaining traction due to growing concerns over the environmental and health impacts associated with halogenated flame retardants. Non-halogenated alternatives, such as phosphorus-based and nitrogen-based flame retardants, are considered more environmentally friendly and exhibit lower toxicity levels. These flame retardants are being increasingly adopted in various industries as regulations become stricter and environmental consciousness rises. Non-halogenated flame retardants offer viable options for manufacturers looking to comply with fire safety regulations while minimising their environmental footprint.
Flame Retardants Market Analysis By Application
The global flame retardants market can be segmented by application into epoxy, unsaturated polyester, polyolefins, polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), polyamide, polystyrene, polyurethane (PU), polyethylene terephthalate (PET), and polybutylene terephthalate (PBT). The dominant application segment in the flame retardants market is polyolefins, which include polyethylene and polypropylene. Polyolefins are widely used in various industries such as automotive, construction, and packaging due to their excellent mechanical properties, versatility, and cost-effectiveness. Flame retardants are incorporated into polyolefins to enhance their fire resistance and comply with stringent fire safety regulations.
The fastest-growing application segment in the flame retardants market is polyurethane (PU). PU is extensively used in the manufacturing of foams, coatings, adhesives, and sealants. The increasing demand for flame-retardant PU is driven by the growing need for fire-resistant materials in sectors such as construction, automotive, and furniture. Flame retardant additives are incorporated into PU formulations to improve its fire performance, making it suitable for applications where fire safety is a critical concern.
Global Flame Retardant Chemicals Market By Treatment, 2022 (%)
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Flame Retardants Market Regional Insights
The dominant region in the flame retardants market is North America. The region has a well-established industrial base and stringent fire safety regulations, driving the demand for flame retardants. The construction, automotive, and electronics industries in North America extensively utilise flame retardant materials to meet fire safety standards. The presence of major manufacturers, research institutions, and regulatory bodies focused on fire safety contributes to the dominance of the North American market.
The fastest-growing region in the flame retardants market is Asia Pacific. The region is experiencing rapid industrialization, urbanisation, and infrastructure development, leading to increased demand for flame retardant materials. Growing construction activities, especially in emerging economies such as China and India, drive the adoption of flame retardants in buildings and infrastructure. Additionally, the automotive and electronics industries in Asia Pacific are expanding, creating a significant demand for flame retardant materials. The region's robust manufacturing sector and increasing emphasis on fire safety regulations contribute to the fastest growth rate in the flame retardants market.
Global Flame Retardant Chemicals Market By Geography, 2022-2030
- Largest
- Fastest
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Flame Retardants Market Dynamics
Flame Retardants Market Drivers
Stringent Fire Safety Regulations
- The implementation of stringent fire safety regulations and standards by governments and regulatory bodies worldwide is a key driver for the flame retardants market. These regulations mandate the use of flame retardant materials in various industries to enhance fire safety and reduce the risk of fire-related incidents. The focus on public safety and property protection drives the demand for flame retardants.
Increasing Awareness of Fire Hazards
- Growing awareness among consumers, industries, and regulatory bodies about the risks and hazards associated with fire has fueled the demand for flame retardant materials. High-profile incidents and increased emphasis on safety have heightened the need for fire-resistant products across various sectors such as construction, electronics, automotive, and textiles. The awareness of fire hazards drives the adoption of flame retardants as a preventive measure.
Flame Retardants Market Restraints
Environmental and Health Concerns
- Certain flame retardants contain chemicals that raise environmental and health concerns. Traditional flame retardants, particularly halogenated variants, may release toxic substances during combustion or pose risks during manufacturing, usage, and disposal. The environmental impact and potential health hazards associated with flame retardant chemicals are a restraint for the market. There is an increasing focus on developing and adopting safer and environmentally friendly flame retardant alternatives.
Cost Considerations
- Flame retardant materials can be more expensive compared to non-flame retardant alternatives. The additional cost of incorporating flame retardants into products and materials may act as a restraint, particularly for cost-sensitive industries. Manufacturers need to balance the cost of flame retardant materials with other performance and regulatory requirements, which can pose challenges for market growth.
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Flame Retardants Market Competitive Landscape
The competitive landscape of the global flame retardants market is characterised by intense competition among various players striving to establish their market presence. The market is highly fragmented, with numerous companies vying for market share and focusing on product innovation and development. Companies in the flame retardants market invest significantly in research and development activities to develop new and advanced flame retardant materials. They aim to enhance the efficacy, performance, and environmental sustainability of their products to meet the evolving needs of different industries. Strategic collaborations, partnerships, and mergers and acquisitions are common in the competitive landscape of the market. Companies engage in collaborations with research institutions and universities to leverage their expertise and jointly develop innovative flame retardant solutions. These collaborations enable companies to access new technologies, expand their product portfolios, and enhance their competitive advantage in the market. Moreover, companies in the flame retardants market focus on expanding their geographical presence and strengthening their distribution networks. They establish partnerships with distributors, agents, and dealers to ensure efficient supply chains and cater to the diverse customer base. Compliance with stringent regulations and obtaining necessary certifications is crucial for companies in the flame retardants market. Adhering to regulatory standards and ensuring product safety and quality are key considerations for market players.
Flame Retardants Market Top Player’s Company Profiles
- Nabaltec AG - Germany
- ICL Group Ltd. - Israel
- J.M. Huber Corporation - US
- BASF SE - Germany
- Italmatch Chemicals S.p.A. - Italy
- Akzo Nobel N.V. - Netherlands
- Dow Inc. - US
- RTP Company - US
- Sinopec Corporation - China
- DIC Corporation - Japan
- DuPont de Nemours, Inc. - US
- Huber Engineered Materials - US
- Nippon Carbide Industries Co., Inc. - Japan
- FRX Polymers, Inc. - US
- M&I Materials Limited - UK
- Kisuma Chemicals B.V. - Netherlands
- LANSCO Colors - US
Flame Retardants Market Recent Developments
- In January 2023, Lubrizol Engineered Polymers introduced a new non-halogenated flame retardant grade for wire and cable applications.
- In February 2023, Italmatch Chemicals S.p.A. launched a new phosphorous flame retardant “Liquid Masteret. The company launched its concentrated blends of stabilised and micro-encapsulated Red Phosphorus (RP).
Flame Retardants Key Market Trends
- Focus on Lightweight and High-Performance Flame Retardants: Industries such as automotive, aerospace, and electronics are increasingly demanding lightweight materials with excellent fire resistance. Flame retardant manufacturers are developing lightweight and high-performance solutions to meet these requirements while ensuring optimal fire safety and compliance with industry standards.
- Growing Demand from Emerging Economies: Emerging economies, particularly in Asia Pacific and Latin America, are experiencing rapid industrialization and urbanisation, leading to increased demand for flame retardant materials. Rising construction activities, infrastructure development, and the growth of key end-use industries such as electronics and automotive are driving the market's growth in these regions.
Flame Retardants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Flame Retardants market analysis, North America is the dominant region in the global market due to its well-established industries and stringent fire safety regulations. The Asia Pacific region is the fastest-growing, fueled by rapid industrialization, construction activities, and the expanding automotive and electronics sectors. The global market is experiencing steady growth driven by factors such as stringent fire safety regulations, increasing awareness of fire hazards, and the demand for flame-resistant materials in various industries. The market is witnessing key trends, including the demand for environmentally friendly flame retardants, technological advancements in flame retardant materials, and a focus on lightweight and high-performance solutions. Additionally, emerging economies are contributing to market growth, driven by rapid industrialization and urbanisation. Stringent fire safety regulations and a focus on fire safety in the building and construction sector are also driving market demand. The market is seeing a shift towards halogen-free flame retardants due to concerns over toxicity and environmental impact. Overall, the global market is expected to continue its growth trajectory, with manufacturers focusing on developing sustainable, innovative, and effective flame retardant solutions to meet the evolving needs of different industries and ensure fire safety compliance.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.87 billion |
| Market size value in 2031 | USD 10.75 billion |
| Growth Rate | 5.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flame Retardants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flame Retardants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flame Retardants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flame Retardants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flame Retardants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flame Retardants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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