San Francisco, 04 March 2024: The Report Flame Retardant Market Size, Share & Trends Analysis By Product (Halogenated, Non-halogenated), By Application (Polyolefin, Epoxy Resins), By End-use (Electrical & Electronics, Construction), By Region, And Segment Forecasts, 2023 – 2030
The global flame retardant market size is expected to reach USD 14.90 billion by 2030, registering a CAGR of 7.1% during the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the growing application scope in key end-use industries including automotive, electrical & electronics, transportation, construction, and others. In addition, increasing demand for these products in applications, such as polyolefin, Engineering Thermoplastics (ETP), epoxy resins, Polyvinyl Chloride (PVC), and rubber, coupled with the presence of favorable government regulations, especially in Asia Pacific, North, America, and Europe, will drive the market in the coming years.
Halogenated products, including brominated, chlorinated, phosphate-based, and antimony trioxide-based, are widely used in various applications, such as printed wiring boards, wires & cables, floorings, flexible polyurethane foams, polyolefins, polyamides, wall sheeting, refrigeration, and others. The demand for environmentally friendly products, such as non-halogenated flame retardants, is growing at a rapid pace. The Asia Pacific, North America, and Europe regions have emerged as the largest consumers owing to the presence of stringent environmental sustainability policies and the rising awareness about fire safety among consumers.
Phosphorus-based flame retardants, both chlorinated and non-halogenated, are extensively used in flexible and rigid polyurethane foams and the demand is anticipated to augment in the coming years. They have wide application prospects, and it is a vital part of inorganic flame retardants. These products can be divided into inorganic and organic phosphorous products. Asia Pacific holds a substantially high share owing to the increasing product penetration in the end-use industries including automotive, electrical & electronics, construction, and others. The markets in Asia Pacific are witnessing high production, especially in countries, such as India, China, Japan, and South Korea, owing to the growing emphasis on eco-labeled fire resistance products.
The COVID-19 pandemic has highly impacted the growth of the automotive and construction, sectors. The halting of manufacturing activities, slowing down of construction projects, and ongoing labor shortages owing to travel restrictions are expected to affect the demand for the products and their derivatives in construction applications over the forecast period. The global market is highly competitive due to the presence of a large number of multinationals that are engaged in constant R&D activities. Companies, such as BASF SE, Clariant, DuPont, DSM, Albemarle Corp., and LANXESS have a global presence and dominate the market due to a wide range of products for each application market. A majority of these companies have integrated their business operations across the value chain.
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The demand for flame Retardants is anticipated to be driven by the growing usage of fire-resistant products in various end-use industries, such as electrical & electronics, transportation, construction, and others. These industries are increasingly using flame retardant-based materials to meet fire safety and prevention regulations. The product demand is also fueled by the growing awareness among consumers about improving the fire safety of combustible materials and products. In offices and homes, flame retardants eliminate the risk of fire from an increasing number of electrical and consumer goods.
Flame Retardant Market Report Highlights
- Asia Pacific was the dominant regional market in 2022 owing to the increased investments in the end-use industries, such as transportation and construction, especially in developing countries like India
- The U.S. accounted for the largest share of the North America regional market in 2022 due to the large-scale production and rapid growth of the electrical & electronics, automotive, and construction sectors in the U.S.
- The non-halogenated product segment accounted for the highest revenue as well as volume share in 2022 owing to increased environmental concerns and stringent government regulations
- By application, Polyolefins segment accounted for the largest revenue share in 2022. Due to the growing use of polyolefins as plastics in numerous applications.
They also safeguard modern equipment and materials, such as building insulation, engineering thermoplastics, circuit boards, cables, and others, from the ignition and spread of fire. The growth of halogenated flame retardants, such as chlorinated, brominated, and others, is significantly restrained by the harmful effects of the chemicals on humans and the environment. Certain compounds, such as Hexabromocyclododecane (HBCD), are banned in the European Union, Canada, and Japan.
Flame Retardant Market Report Scope
| Report Attribute | Details |
| Market size value in 2023 | USD 9.13 billion |
| Revenue forecast in 2030 | USD 14.90 billion |
| Growth rate | CAGR of 7.1% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2018 – 2021 |
| Forecast period | 2023 – 2030 |
This has majorly driven the market for the development of safer alternatives, such as phosphorous, bromine, and chlorine-based non-halogenated flame retardants. The shifting trend toward the replacement of halogenated flame retardants has mainly driven innovation for new non-halogenated products as it promotes environmental sustainability. For instance, GYC Group, a manufacturer of specialty chemicals and fire-resistance products, offers a wide range of halogen-free products.
Manufacturers look for fewer toxic products to make changes in the product composition, such as aluminum triohydroxide. It is expected that most of the demand will arise from applications, such as polyolefins, epoxy resins, Polyvinyl Chloride (PVC), engineering thermoplastics, rubber, and others. China, Iran, Italy, the U.K., the U.S., and France, are among the worst-hit economies due to the pandemic that resulted in industrial shutdowns, supply chain disruptions, and trade halts. This factor may hamper the market growth to some extent.
List of Key Players of Flame Retardant Market
- Albemarle Corporation
- ICL
- LANXESS
- CLARIANT
- Italmatch Chemicals S.p.A
- Huber Engineered Materials
- BASF SE
- THOR
- DSM
- FRX Innovations
- DuPont
