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The global flame retardants market estimated to value at around US$ 16 Bn in 2019, and is expected to register a CAGR of 6.2%. The global flame retardant market report has been segmented on the basis of type, application, end user, and region.
Global Flame Retardants Market: OverviewFlame retardants are widely used in manufacturing materials of various combustible products to increase resistance to ignition and fire safety of products. For example, flame retardants used in production of plastics products which have a wide range of chemical and mechanical properties as well as these products differ in combustion behavior. Therefore, they are matched with appropriate flame retardants to retain the major material functionalities and offer high fire resistance capability.
Global Flame Retardants Market: DynamicsIncreasing fire incidence in emerging countries across the globe has burgeoned rules and regulations that are associated with the flame resistance property of various products such as electronics and furniture countries is a key factor expected to drive growth of the global market during the forecast period. Increasing use of flame retardants owing to its high temperature tolerance property in production of products that are made from wood specially furniture and childrens products that are highly regulated with various safety standards those supported by the government in manufacturing sector is among major factor expected to boost growth of the global market in the near future. Growing demand for various flame retardants such as brominated flame retardants, chlorinated flame retardants, phosphorous flame retardants by automotive manufacturing sector, owing to its ability to reduce the combustion time and threshold, and high capability to prevent fire from spreading. Aforementioned is a factor expected to fuel growth of the global market over the forecast period. Flame retardants are used in wide range of materials to ensure the fire safety of products such as foam and fiber insulation materials, plastics, foams in mattresses, furniture, wood products, and textiles. These products or materials are used as parts in production of electrical equipment, automobiles, and aircraft. Factors mentioned above of wide application usage of flame retardants is expected to proliferate growth of the globe market in the coming 10 years. However, upcoming stringent rules and regulations by government regarding use of flame retardants in various raw materials, reduced economic capability of recycling products that have been coated with flame retardants, and growing environmental and health concerns associated with conventional flame retardants are among major factors expected to hamper growth of the global market to a certain extend.
Global Flame Retardants Market: Opportunities and TrendGrowing integration of nanotechnology in flame retardants such as exfoliated clays and nanocomposites or polymers which have unveiled excellent flame retardant properties is a key opportunity which is expected to anticipates high revenue growth opportunities for prominent players in the target market over the forecast period. In addition, increasing R&D activities in developing effective synergist compounds to expand and enhance the flame retardants applications across the industrial verticals is among some major factors expected to create significant revenue opportunities for players in the global market.
Global Flame Retardants Market: Segment Analysis
Analysis by Type:Currently, among the type segments, the alumina trihydrate segment is accounts for major market share in terms of revenue and expected to maintain its dominance in the near future. The alumina trihydrate segment expected to register a CAGR over 6.1% over the forecast period.
Analysis by Application:Currently, the epoxy resins segment dominates the global market in terms of revenue and expected to account for around CAGR of 6.1% over the forecast period. Various products are synthesized by using reaction of end-capped reactive elastomers which includes epoxy resins is a factor expected to support growth of this segment over the forecast period.
Analysis by End User:Currently, the automotive segment dominates the global market in terms of revenue and expected to account for around CAGR of 6.2% over the forecast period. Increasing use of flame retardants as a protective covering for various mechanical parts especially engine to protect it in case of fire is a factor expected to drive growth of the automotive segment.
Global Flame Retardants Market: Region AnalysisMarket in Asia Pacific dominates the global market in terms of revenue and expected to maintain its dominance in the near future, followed by markets in North America. Asia Pacific flame retardant market is expected to register highest growth in terms of revenue and expected to account for CAGR over 6.2% over the forecast period Increasing production of electronic devices and high presence of prominent electronic device manufacturers is resulting into demand for fire safe chemicals utilization to increase temperature tolerance of these products is a key factor expected to drive growth of the flame retardants market in the Asia Pacific region during the forecast period. Moreover, as flame retardants provide fire protective benefits therefore they are used in three major categories of building materials such as structural elements, cables and electrical wires, and insulation in construction sector is a factor supporting growth of the Asia Pacific flame retardant market in the near future. Factors expected to register second highest CAGR over 6% growth in the North America flame retardants market are, increasing utilization of flame retardants in building materials and products and increasing number of automobiles owing to increasing rising income levels and changing lifestyle of consumers. In addition, growing concerns regarding fire accidents in developed countries such as US and Canada and increasing advanced infrastructure development activities in North America is resulting into high demand for materials with fire resistant composites such as flame retardants. This demand is primarily attributed, owing to flame retardants ability to stop, resist, or reduce the speed of fire from spreading which in turn is expected to drive growth of the global market over the forecast period. Market in Europe is expected to register moderate growth rate in terms of revenue over the forecast period. Increasing demand for new flame retardant formulated solutions such as flexible polyurethane foams by automotive manufacturers and presence of major manufacturers in countries in the region are factors expected to boost growth of the Europe flame retardants market during the forecast period. Currently, the industry 4.0 revolution is a growing trend observed in the global market which offers digitalization, that provides data exchange and automation in manufacturing technologies is another factor supporting growth of the flame retardants market in the Europe region. In addition, increasing construction activities is resulting into growing demand for flame retardants owing to its fire resistance capability in emerging countries in Europe region.
Global Flame Retardants Market Segmentation:
Segmentation on the basis of type:
- Alumina Trihydrate
- Antimony Trioxide
- Brominated Flame Retardants
- Chlorinated Flame Retardants
- Phosphorous Flame Retardants
- Others (Boron Compounds and Magnesium Hydroxide)
Segmentation on the basis of application:
- Organic Solvent
- Epoxy Resins
- Other (Unsaturated Polyester Resins, Rubber, Engineering Thermoplastics, and Polyethylene Terephthalate (PET))
Segmentation on the basis of end user:
- Others (Textile, etc.)
Key Market Players included in the report: Global Flame Retardants Market
- DowDuPont Inc
- BASF SE
- LANXESS Aktiengesellschaft
- Nabaltec AG
- ICL Industrial Products
- Akzo Nobel N.V.
- Albemarle Corporation
- Clariant AG
Key Insights Covered: Global Flame Retardants Market1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Flame Retardants industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Flame Retardants industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Flame Retardants industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Flame Retardants industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Flame Retardants industry.
Research Methodology: Global Flame Retardants Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1.0 Chapter 1 1.1 Preface 1.2 Assumptions 1.3 Abbreviations 2.0 Chapter 2 2.1 Report Description 2.1.1 Market Definition and Scope 2.2 Executive Summary 2.2.1 Market Snapshot, By Type 2.2.2 Market Snapshot, By Application 2.2.3 Market Snapshot, By End User 2.2.4 Market Snapshot, By Region 2.2.5 Prudour Opportunity Map Analysis 3.0 Chapter 3 3.0.1 Global Flame Retardants Market Dynamics 3.0.2 Drivers (D) 3.0.3 Restraints (R) 3.0.4 Opportunities 3.0. | read more...