Flame Retardants Market Outlook - 2030
The global flame retardants market size was valued at $7.4 billion in 2020, and is projected to reach $14.0 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030. The growth of the flame retardants market is driven by an increase in demand for construction and building materials and advancements in flame retardant technologies. Expanding infrastructure projects and stricter fire safety standards have boosted the use of flame-resistant materials in the construction industry. Simultaneously, innovations in flame retardant formulations have enhanced performance, safety, and environmental compliance, further fueling their adoption across various industries to meet evolving safety requirements.
Flame retardants are chemical compounds designed to prevent or slow the ignition and spread of fire in materials. They are widely used in plastics, textiles, electronics, and building materials to enhance safety by reducing flammability. Flame retardants work through various mechanisms, such as forming a protective char layer, releasing non-combustible gases, or interfering with the combustion process. Common types of flame retardants include halogenated, phosphorus-based, nitrogen-based, and inorganic flame retardants. Despite their safety benefits, concerns over environmental persistence and potential health effects have driven innovation toward non-toxic and sustainable alternatives, promoting a balance between fire safety and environmental responsibility.
Technical advancements and R&D activities surged the demand for wide range electrical & electronic devices. Flame retardants are widely used in plastic casings of electronic products to increase product safety by preventing short circuits and overheating of components. This acts as one of the key drivers for growth of the flame retardants market. Furthermore, factors such as growth in population, urbanization, and increase in government expenditure led the building & construction sector to witness a significant growth where flame retardants are used to slow down fire and provide a sufficient amount of time to evacuate a building. This has led to rise in popularity of flame retardants in building & construction sector thus, boosting growth of the flame retardants industry.
However, manufacturing of flame retardants includes several chemicals that can cause several health-related disorders, including conjunctival irritation, shortness of breath, fatigue, dizziness, and skin problems. In addition, several studies show that use of flame retardants in furniture & textiles sequester into homes, accumulating into human body causing several side effects, including endocrine & thyroid disorder, reproductive toxicity, and cancer. In addition, the implementation of regulatory policies, growth in public awareness regarding health issues, and adverse environmental effects lowered the demand for conventional flame retardants with high chemical content. Furthermore, several regulatory bodies, including the United States Environmental Protection Agency (US EPA) and European Union Legislation laid down norms and regulations to limit use of harmful or organic compounds in manufacturing of flame retardants. These factors hinder demand for flame retardants in various end-use sectors, thus restraining the market growth.
On the contrary, the implementation of stricter fire safety regulations and increased public awareness of fire hazards in both developed and developing countries presents a significant growth opportunity for the flame retardants market. As governments enforce mandatory fire safety standards in industries such as construction, automotive, and electronics, the demand for flame-retardant materials increases. This trend is further fueled by a rise in concerns over public safety, leading to heightened awareness among consumers and businesses. In developing countries, expanding infrastructure and industrial growth have accelerated the adoption of fire-resistant materials, driving the need for advanced, environmentally friendly flame retardants to ensure safety and compliance. This is expected to provide remunerative opportunities for the flame retardants market in future.
The global flame retardants market is segmented on the basis of type, application, end-use industry, and region. Depending on type, it is divided into alumina trihydrate, brominated flame retardants, antimony trioxide, phosphorous flame retardants, and others. On the basis of application, it is fragmented into unsaturated polyester resins, epoxy resins, polyvinyl chloride (PVC), rubber, polyolefins, and others. According to end-user industry, it is categorized into construction, automotive & transportation, electronics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Albemarle Corporation, BASF SE, DOW, Eastman Chemical Company, Hangzhou Lingrui Chemical Co. Ltd., Hongbaoli Group Co. Ltd., Huntsman International Llc., Lanxess , Muby Chemicals, and Sasol.
By Region
Asia-Pacific would exhibit highest CAGR of 7.4% during 2021-2030.
Flame Retardants Market, By Region
Asia-Pacific flame retardants market size is projected to grow at the highest CAGR of 7.4% during the forecast period, and accounted for 37.8% of the market share in 2020. This is attributed to increase in demand for flame retardants in building & construction, automotive, electrical & electronics, and textiles industries in Asia-Pacific. Countries such as India and China are the leading textile manufacturers in the world. Flame retardants are used in fabrics to inhibit or suppress the combustion process. For instance, according to a report published by the India Brands Equity Foundation, in December 2021, the Indian textile industry attracted foreign direct investment (FDI) inflow of $3.75 billion from April 2000 to March 2021. Furthermore, manufacturers across the globe find Asia-Pacific as an attractive market, owing to cheap labor cost, low cost of setting up manufacturing units, and cost-effective flame retardants. These factors drive the growth of flame retardant market.
By Type
Alumina Trihydrate is the most lucrative segment
Global Flame Retardants Market, By Type
The alumina trihydrate segment projected to grow at the highest CAGR of 6.8% during the forecast period and accounted for 29.2% of the flame retardants market share in 2020. This is attributed to the fact that alumina trihydrate possesses excellent flame retarding and smoke suppressing properties, owing to its thermodynamic properties that makes it best-suited for fire retardancy applications in various end-use industries, including chemicals, electronics where processing temperatures is below 220°C. This factor accelerate growth of this segment in the global market.
By End Use Industry
Electronics is projected as the fastest growing segment
Global Flame Retardants Market, By Application
By application, the epoxy resins segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 7.2% during the forecast period. This is attributed to the fact that flame resistant epoxy resins are used in construction, civil engineering, aerospace, rail, and marine applications. These are designed to deliver high performance laminates while complying with the fire regulations. Moreover, epoxy resins are infused with different additives, including curing agents, accelerators, fillers, and flame retardants. Flame retardants in epoxy resins have various applications in automotive, construction, heavy engineering, transport, electronics, food & beverage packing, coatings, composites, adhesives, aviation, aerospace, and wind energy industries. This propel growth of the epoxy resins segment in the global flame retardants market.
By End Use Industry
Electronics is projected as the fastest growing segment
Global Flame Retardants Market, By End-user Industry
According to end-user industry, electronics segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 7.0% during the forecast period. This is attributed to escalating demand for computers, tablets, smartphones, and other latest electronic devices where flame retardants are used during the production of electronic devices to keep any chemicals from seeping into the environment or possibly causing health repercussions for consumers. For instance, according to an article published by The Hindu (Business Line), India’s domestic electronics production jumped from $29 billion to $81.5 billion, registering a CAGR of 23%. This may propel growth of the electronics segment in the global flame retardants market.
Key Benefits For Stakeholders
Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current flame retardants market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Flame Retardants Market Report Highlights
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Analyst Review
According to CXOs of leading companies, the global flame retardants market is expected to exhibit high growth potential during the forecast period. Flame retardants are used to prevent or slow down the fire in a variety of end-use sectors, including automotive, building & construction, aerospace, electronics, and textiles. Furnishings, electrical & electronic devices, construction materials, and automotive parts require prevention from fire that can be accomplished with the use of flame retardants. Implementation of fire safety standards & regulations formulated all across the globe surged the popularity of flame retardants. However, adverse effects of using toxic flame retardants and frequent amendments in environmental regulations and norms impede the market growth.
Asia-Pacific accounted for highest share in global flame retardants market, and is expected to be fastest growing region in future on account of rapid industrialization, increase in demand for fire safe industrial equipment, rapid growth of the construction industry, and rise in investments for boosting the growth of electronics industry.
The CXOs further added that sustained economic growth and development of building & construction sector surged the popularity of flame retardants.
The global flame retardants market is growing at a CAGR of 6.6% from 2021 to 2030.
The global flame retardants market was valued at $7.4 billion in 2020, and is projected to reach $14.0 billion by 2030.
The report sample for global flame retardants market report can be obtained on demand from the website.
Escalating demand from electronics sector, increase in demand from construction sector, and growing number of regulations regarding fire & safety are projected to drive the flame retardants market growth.
include Albemarle Corporation, BASF SE, DOW, Eastman Chemical Company, Hangzhou Lingrui Chemical Co. Ltd., Hongbaoli Group Co. Ltd., Huntsman International Llc., Lanxess , Muby Chemicals, and Sasol are the leading players in the flame retardants market.
The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.
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