The global flame retardants market size reached US$ 9.8 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 16.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.03% during 2023-2032. The increasing use of flame retardants in the aerospace industry, rising emphasis on fire safety regulations and standards across various industries, and the introduction of bio-based flame retardants derived from renewable sources are some of the major factors propelling the market.
Flame retardants are chemical substances or materials designed to inhibit or slow down the spread of fire. They are capable of withstanding high temperatures without undergoing combustion themselves and help enhance the fire resistance of various products and materials by reducing their flammability. They aid in extending the functional life of materials and products by reducing fire-related damage. They protect electronic devices, such as computers and TVs, from overheating and ignition. They are widely used in construction materials like insulation, wiring, and paints to enhance fire safety in buildings.
The rising awareness among people and businesses about the importance of fire safety is encouraging them to make investments in fire-resistant materials and products. Additionally, the increasing use of flame retardants in the aerospace industry to meet stringent safety standards for aircraft interiors, including cabin materials, wiring, and insulation is creating a positive market outlook.
Apart from this, the rise of electric vehicles (EVs) is offering new opportunities for flame retardants, as the lithium-ion batteries in these automobiles require fire-resistant materials to prevent thermal runaway incidents. Furthermore, the textile industry is increasingly adopting flame retardant fabrics for applications in workwear, home textiles, and public spaces, enhancing fire safety.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
2. What is the expected growth rate of the global flame retardants market during 2024-2032?
3. What are the key factors driving the global flame retardants market?
4. What has been the impact of COVID-19 on the global flame retardants market?
5. What is the breakup of the global flame retardants market based on the type?
6. What is the breakup of the global flame retardants market based on the application?
7. What is the breakup of the global flame retardants market based on the end use industry?
8. What are the key regions in the global flame retardants market?
9. Who are the key players/companies in the global flame retardants market?
Flame retardants are chemical substances or materials designed to inhibit or slow down the spread of fire. They are capable of withstanding high temperatures without undergoing combustion themselves and help enhance the fire resistance of various products and materials by reducing their flammability. They aid in extending the functional life of materials and products by reducing fire-related damage. They protect electronic devices, such as computers and TVs, from overheating and ignition. They are widely used in construction materials like insulation, wiring, and paints to enhance fire safety in buildings.
The rising awareness among people and businesses about the importance of fire safety is encouraging them to make investments in fire-resistant materials and products. Additionally, the increasing use of flame retardants in the aerospace industry to meet stringent safety standards for aircraft interiors, including cabin materials, wiring, and insulation is creating a positive market outlook.
Apart from this, the rise of electric vehicles (EVs) is offering new opportunities for flame retardants, as the lithium-ion batteries in these automobiles require fire-resistant materials to prevent thermal runaway incidents. Furthermore, the textile industry is increasingly adopting flame retardant fabrics for applications in workwear, home textiles, and public spaces, enhancing fire safety.
Flame Retardants Market Trends/Drivers:
Growing emphasis on fire safety regulations
The increasing emphasis on fire safety regulations and standards across various industries represents one of the key factors positively influencing the market. Additionally, the rising use of flame retardants in the automotive industry to produce interior components, such as seats, dashboards, and wiring harnesses, to prevent fires in the event of accidents is offering a favorable market outlook. Apart from this, the increasing reliance of the electronics industry on flame retardants to protect devices and prevent electrical fires is supporting the market growth. Moreover, the governing authorities and regulatory bodies worldwide are implementing stringent safety standards to reduce the risk of fires and protect lives and property.Rising demand from several industries
The escalating demand for fire retardants from different industry verticals, such as construction, automotive, and electronics to enhance safety and meet regulatory requirements is influencing the market positively. Additionally, rapid urbanization and infrastructure development across the globe are driving the demand for flame retardants in insulation, roofing, and cladding to minimize the risk of fires in residential, commercial, and industrial buildings. Apart from this, the leading automakers are increasingly incorporating flame-retardant materials into vehicle interiors and electrical systems to improve driver and passenger safety. Moreover, the increasing adoption of fire retardants in consumer electronics, such as smartphones, laptops, and other mobile devices is propelling the market growth.Technological advancements
Continuous advancement in flame retardant technologies is the other major factor contributing to the market growth. Additionally, the rising focus on developing flame retardants that are environmentally friendly and less toxic is offering a favorable market outlook. Apart from this, the introduction of bio-based flame retardants derived from renewable sources is attracting a wider consumer base. Furthermore, various researchers and manufacturers are developing innovative flame retardant solutions that are more effective, environmentally friendly, and versatile. Moreover, the increasing use of nanoscale flame retardant additives to minimize the use of chemicals and promote environmental health is strengthening the growth of the market.Flame Retardants Industry Segmentation:
The publisher provides an analysis of the key trends in each segment of the global flame retardants market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, application and end use industry.Breakup by Type:
- Alumina Trihydrate
- Brominated Flame Retardants
- Antimony Trioxide
- Phosphorus Flame Retardants
- Others
Brominated flame retardants dominate the market
Breakup by Application:
- Unsaturated Polyester Resins
- Epoxy Resins
- PVC
- Rubber
- Polyolefins
- Others
Epoxy resins represent the largest market segment
Breakup by End Use Industry:
- Construction
- Wires and Cables
- Automotive and Transportation
- Electrical and Electronics
- Others
Electrical and electronics hold the largest share in the market
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Asia Pacific exhibits a clear dominance, accounting for the largest flame retardants market share
Competitive Landscape:
Companies are investing significantly in research and development (R&D) activities to introduce more advanced product variants. They are actively exploring innovative flame retardant formulations, including eco-friendly and nanotechnology-based solutions, to improve fire safety and meet evolving regulatory requirements. Additionally, they are diversifying their product portfolios to offer a wide range of flame retardant solutions tailored to specific industries and applications. This includes flame retardants for textiles, construction materials, electronics, and automotive components, among others. Moreover, many companies are forming strategic partnerships with research institutions, universities, and other businesses to leverage expertise and share resources for the development of new flame retardant technologies.The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Almatis GmbH
- BASF SE
- Borealis GmbH (OMV Aktiengesellschaft)
- Budenheim Iberica S.L.U
- Campine NV
- Clariant AG
- Dover Chemical Corporation (ICC Industries Inc.)
- Dow Inc.
- ICL Group Ltd
- Lanxess AG
- Otsuka Chemical Co. Ltd.
- RTP Company (Miller Waste Mills Inc.)
Recent Developments:
- In December 2021, Clariant AG announced the construction of its first flame retardants production facility in China.
- In July 2022, BASF SE and THOR GmbH announced their collaboration to offer customers and end-users synergistic benefits by combining BASF's halogen-free flame retardant Flamestab® with THOR's phosphonates AFLAMMIT® technologies for challenging flame resistance applications.
- In September 2023, Lanxess AG developed a non-halogen flame retardant that is designed primarily for use in glass fiber-reinforced plastics used to manufacture products for the electrical and electronics industry.
Key Questions Answered in This Report
1. What was the size of the global flame retardants market in 2023?2. What is the expected growth rate of the global flame retardants market during 2024-2032?
3. What are the key factors driving the global flame retardants market?
4. What has been the impact of COVID-19 on the global flame retardants market?
5. What is the breakup of the global flame retardants market based on the type?
6. What is the breakup of the global flame retardants market based on the application?
7. What is the breakup of the global flame retardants market based on the end use industry?
8. What are the key regions in the global flame retardants market?
9. Who are the key players/companies in the global flame retardants market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Flame Retardants Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Almatis GmbH
- BASF SE
- Borealis GmbH (OMV Aktiengesellschaft)
- Budenheim Iberica S.L.U
- Campine NV
- Clariant AG
- Dover Chemical Corporation (ICC Industries Inc.)
- Dow Inc.
- ICL Group Ltd
- Lanxess AG
- Otsuka Chemical Co. Ltd.
- RTP Company (Miller Waste Mills Inc.)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.8 Billion |
| Forecasted Market Value ( USD | $ 16.6 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
