Flame Retardants Market Poised for Robust Growth, forecasted to Expand at 5.3% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Flame Retardants Market is expected to grow at a CAGR of around 5.3% during the forecast period, i.e., 2024-30.
Report Coverage
This report offers a comprehensive analysis of the Flame Retardants Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Flame Retardants Market Overview
Most of the market expansion would be propelled by the rising fire safety laws, the rapidly expanding end-user verticals like electronics & electrical, construction, textile, automotive, etc., and the burgeoning use of plastic in almost every industry. Besides, the implementation of stringent fire safety regulations in sectors like building & construction, automotive, & electronics on account of the rise in fire-related incidents is also driving the market for flame retardants.
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Flame Retardants Market Segmentation Outlook
The Flame Retardants is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Type
- Alumina Trihydrate
- Brominated Flame Retardants
- Antimony Trioxide
- Phosphorous Flame Retardants
- Others
By Application
- Unsaturated Polyester Resins
- Epoxy Resins
- PVC
- Rubber
- Polyolefins
- Styrenics
- Others
By End User Industry
- Building & Construction
- Automotive & Transportation
- Electronic & Electrical
- Others (Adhesives, Textiles, Aerospace, etc.)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Flame Retardants Market Driver
Rise in Strict Regulations Regarding Fire & Human Safety - The primary aspect projected to drive the Global Flame Retardants Market during 2024-30 is the increasing rules & regulations regarding fire & human safety worldwide. Governments of various countries are actively focusing on preventing fire & explosion-related incidents in offices, industries, public places, etc., which, in turn, has led to the implementation of stringent rules for industries to use flame retardants in cables, wires, construction products, insulation materials, textiles, automotive components & interiors, and paints & coatings in order to reduce the chances of combustion, i.e., stimulating the overall market expansion.
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Top Flame Retardants Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Lanxess AG, Albemarle Corporation, Clariant International Ltd., Chemtura Corporation, Israel Chemicals Limited (ICL), BASF SE, LG Chem, The Dow Chemical Company, Italamtch Chemicals, Nabaltech AG, Huber Engineered Materials, DuPont, Hongboali Group Co. Ltd., Huntsman International LLC, FRX Polymers, Inc., and Akzo Nobel Others as key players shaping the market landscape.
Flame Retardants Market News
- In May 2022, FRX Innovations' Nofia® flame retardant received ChemFORWARD’s SAFER designation for its high-performance level & sustainability attributes in lithium-ion battery casings. This designation strengthened the leader's position in environmentally sustainable polymeric, non-halogenated flame retardants for both consumers and industrial products & applications.
- The same year in April, LG Chem developed a special flame retardant that can block heat for a longer period when applied to the battery pack cover of EVs (Electric Vehicles) thanks to its superior heat resistance. This new high-functional engineering plastic material comprises PPO (Polyphenylene Oxide), PA (Polyamide), & PBT (Polybutylene Terephthalate), with excellent dimensional stability that can maintain its shape despite temperature changes.
- In December 2021, Clariant started constructing its first Chinese production facility for its successful Exolit OP flame retardants at its existing site in Daya Bay, Huizhou, Guangdong Province. The facility, i.e., likely to be completed & inaugurated in 2024, will enable the leader to speed up its production capacity to cater to the burgeoning consumer requirements in the country.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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