Flame Retardants Global Market Report 2024

The global flame retardants market has grown strongly in recent years. It will grow from $7.94 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. Historical growth can be attributed to the expansion of consumer goods manufacturing, increased focus on safety concerns in transportation, raised awareness of fire hazards, growth within the electronics industry, and the enforcement of stringent fire safety regulations.

The global flame retardants market is expected to see strong growth in the next few years. It will grow to $10.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period is propelled by rapid urbanization, the escalating use of electronic devices, the growing demand for environmentally friendly flame retardants, and global initiatives aimed at reducing fire incidents. Major trends expected during this period involve advancements in nanotechnology for flame retardants, increased demand for these solutions in automotive applications, collaborations for research and development efforts, rising consumer awareness and product labeling, the utilization of flame retardants in textiles and upholstery, and efforts towards global expansion and market penetration within this sector.

The escalating demand for electronic goods, fueled by technological advancements, rapid replacement cycles, increased disposable income, and evolving consumer preferences, is anticipated to boost the flame retardants market. Flame retardants, used in electronics manufacturing, prevent chemicals from leaching into the environment or posing health hazards to users. For instance, India Brand Equity Foundation (IBEF) forecasts a 30% year-on-year growth in electronics manufacturing between 2020 and 2025, projecting an output increase of $163.14 billion, indicating a surge in flame retardant demand.

The burgeoning construction industry, involving various operations related to infrastructure and building development, is expected to drive the flame retardant market. Flame retardants play a pivotal role in augmenting fire safety within the construction sector by being integrated into materials and products to minimize ignition risks, slow down flame spread, and reduce smoke production. The U.S. Census Bureau reports a predicted annual rate of construction spending in September 2023 at $1,996.5 billion, reflecting an 8.7% increase over September 2022, signaling a surge in the flame retardant market.

Product innovation stands out as a prominent trend in the flame retardants market. Key companies in this sector are focused on developing novel products to meet customer demands. For example, Italmatch Chemicals S.p.A. introduced 'Liquid Masteret,' a phosphorus-based flame retardant comprising concentrated mixtures of micro-encapsulated and stabilized red phosphorus (RP). This product finds applications in transportation, electrical & electronics, and construction industries, particularly in scenarios where halogen use is discouraged due to the corrosive smoke it generates during fires.

Major companies in the flame retardants market are adopting strategic partnerships to offer comprehensive solutions that adhere to stringent fire safety regulations while enhancing performance and sustainability in certain plastic compounds. An instance of this is the collaboration between BASF SE and THOR GmbH. BASF, a German company manufacturing flame retardants, partnered with THOR GmbH to provide customers and end users with comprehensive information on THOR's phosphonated AFLAMMIT technologies and BASF's halogen-free flame retardant Flamestab for polyolefins. This collaboration, leveraging expertise in flame-retardant additives, aims to develop halogen-free alternatives that meet rigorous flame retardant standards, emphasizing complex solutions for specific flame resistance applications. THOR GmbH specializes in manufacturing flame retardants.

In December 2021, Huber Engineered Materials (HEM), a US-based manufacturing company specializing in flame retardants, successfully acquired MAGNIFIN Magnesiaprodukte GmbH & Co. The financial specifics of the acquisition were not disclosed. This strategic move aligns with HEM's objective of acquiring and managing specialty chemical and mineral businesses recognized as leaders within their respective markets, marking a strategic step forward. The acquisition underscores Huber Engineered Materials' commitment to facilitating the success of its clients and its clear strategic vision to expand its international presence in the halogen-free fire retardant and specialty material sectors. MAGNIFIN Magnesiaprodukte GmbH & Co. KG, headquartered in Austria, operates in the field of flame retardants. This acquisition positions HEM to leverage MAGNIFIN's expertise, strengthening its position in offering innovative flame retardant solutions while bolstering its global footprint in the specialty materials industry.

Major companies operating in the flame retardants market report are BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A., Nabaltec AG, Du Pont de Nemours and Company, Koninklijke DSM NV, Israel Chemicals Limited, Budenheim Chemicals KG, Eastman Chemical Company, Hangzhou Lingrui Chemical Company Limited, Hongbaoli Group Company Limited, Huntsman International LLC, Apexical Inc., Daihachi Chemical Industry Co. Ltd., DIC Corporation, Dow Chemical Company, Nyacol Nano Technologies Inc., Rinkagaku Kogyo Co. Ltd., RTP Company, Sanwa Chemical Co. Ltd., Shandong Brother Sci. & Tech. Co. Ltd., Tor Minerals International Inc., Tosoh Corporation, UFP Industries Inc., Lubrizol Corporation, Akzo Nobel NV, Broadview Technologies Inc., Chemtura Corporation, Clariant International Ltd., Rio Tinto Group Corp., and Sinopec Shanghai Petrochemical Company Limited.

Asia-Pacific was the largest region in the flame retardants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the flame retardants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of flame retardants include alumina trihydrate, brominated flame retardants, antimony trioxide, phosphorous flame retardants, and others. Alumina trihydrate, for instance, is chemically combined or blended with polymer molecules to impede and reduce the propagation of flames through plastics. Functioning as aluminum hydroxide, alumina hydrate acts as a flame retardant. These flame retardants find wide applications in various materials such as unsaturated polyester resins, epoxy resins, PVC, rubber, polyolefins, and other materials like engineering thermoplastics and PET. Industries such as construction, automotive and transportation, electronics, textiles, aerospace, and adhesives utilize flame retardants to bolster fire resistance in their products and materials.

This report provides flame retardants market statistics, including flame retardants industry global market size, regional shares, competitors with a flame retardants market share, detailed flame retardants market segments, market trends and opportunities, and any further data you may need to thrive in the flame retardants industry. This flame retardants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flame retardants market consists of sales of halogenated and non-halogenated flame retardants. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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