Flame Retardants Market

Flame Retardant Market-Growth (2023-2028)

Flame Retardant Market is valued at US$ 7.96 Billion in 2022 and is anticipated to increase to US$ 11.25 Billion by 2028, with a growing CAGR of 6.55% in the next six years.

Flame retardants are chemicals that are used in a variety of sectors, including textiles, electronics, and the plastics industry. Flame retardants, for instance, are used in textiles such as nylon and polyester to improve their flame resistance. It's also used in lower concentrations in plastic vulcanized elastomers to improve the heat resistance of thermoplastic materials and reduce flame spread rate, in accordance with the hazardous substance restriction. The absence of an ignition source activates flame retardants, which are designed to inhibit or limit the spread of flames using a variety of physical and chemical techniques. They also serve as a copolymer during the polymerization of a chemical component when combined with it in a mold.

Flame retardants are chemicals that are applied to flammable materials including fabrics, plastics, and coatings in order to prevent or delay the spread of a fire. There are several compounds with various molecular structures as well as physical and chemical characteristics. Following the polymerization process, these chemicals are introduced as a copolymer or integrated into the goods as an additive. These chemicals can be found in a variety of products, including computers, electric wires, foams, mattresses, insulation materials, and automobile parts. Mineral compounds are typically additions, whereas organ phosphorus, as well as organ halogen substances, are either reactants or additives. The adoption of fire and safety rules has raised the use of these retardants in order to fulfill the government's criteria, consequently increasing the market for flame retardants.

Flame Retardant Market Drivers:

The rapid growth of fire-resistant materials from various end-use industries, as well as an increasing number of rules regulating fire and safety to help in expansion, are driving the market in this area. The worldwide flame retardants market is predicted to develop due to rising requirements for flame retardants from different end-use sectors, including construction, clothing, electrical & electronics, and transportation. The construction industry has benefited from the expanding population, rapid urbanization, and more government efforts in emerging countries. The rising number of residential as well as non-residential building projects in nations such as the United States, China, and India has boosted the flame retardant industry tremendously.

The need for flame retardants is likely to increase as more fire safety regulations and standards are developed across the world. Several governments throughout the world are concentrating their efforts on preventing fire and explosion-related mishaps in industries, workplaces, and public spaces. All of this has resulted in the implementation of strict laws and regulations for companies in order to encourage the use of flame retardants. To limit the spread of flames, flame retardants have been used in cables, conductors, building items, insulating materials, automotive components, and fabrics. All of these variables contribute to market expansion.

Flame Retardant Market Restraints:

Flame retardants are employed in a variety of goods, from furniture to automobiles. These chemical compounds soil, or in the air after leaking from items and coming into contact with people. Humans have been known to suffer from thyroid disturbance, cancer, reproductive toxicity, malignancy, and neurologic impairment as a result of them. These chemicals are persistent contaminants that can accumulate in food systems. The health and environmental consequences of these chemical compounds will have an impact on demand for these retardants, further hampering the global flame retardants market growth.

FLAME RETARDANT MARKET REPORT COVERAGE:

Market Segmentation:

Flame Retardant Market By Product:

• ATH

• Phosphorous Flame Retardants

• Brominated Flame Retardants

• Chlorinated Flame Retardants

Brominated flame retardants are expected to be the dominant ones in the global flame retardant market. Brominated flame retardants (BFRs) are a group of chemical compounds with the element bromine as a common component. Bromine is present in saltwater, saltwater lakes, upland seas, and the earth's crust in small amounts. A chemical substance is most abundant when combined with various inorganic and organic components. Bromine is used in a variety of industrial purposes, including purifying water, agricultural pesticides, vehicle batteries, medicines, solvents, and photography. However, the most important application of bromine is the manufacturing of inflammatory agents.          

Flame Retardant Market By Application:

• Polyolefins
• Epoxy
• PVC
• Polyamide

Epoxy has the largest share in the global flame retardant market, which is expected to increase during the projection period. Epoxy (EP) is a resin that is used in structural laminates, adhesives, and electronic devices. When EP is used in an application that requires reasonable flame resistance, however, it poses considerable safety risks because to its flammability. As a result, improving the flame retardancy of EP composites is critical in a variety of sectors.

Flame Retardant Market By End-User:

• Automotive

• Textiles

• Building and Construction

• Wires and cables

• Electronics

Based on end-user, the automotive sector attributes for the largest market share. Because of the requirements imposed by the appropriate authorities for fire and safety standards, the usage of this retardant in vehicular transportation is rising. This chemical is utilized in vehicle foams, fabrics, and plastic components to prevent fires and provide occupants with enough time to flee. Overheating, short circuits, and other reasons can cause automobiles to catch fire.

Also, the market's expansion would be aided by increased demand for flame retardants in the wire and cable segment. The likelihood of heat creation from current flow or from external sources poses a risk of igniting. They're utilized to keep polymers used to insulate conductor materials from combusting. The wire and cable industry will also experience rapid expansion as a result of this feature.

Flame Retardant Market Report includes the segmentation of Regions:

• North America
• Europe 
• Asia Pacific
• Latin America
• The Middle East and Africa 

Impact of COVID-19 (Global Flame Retardant Market):

The COVID-19 outbreak has had a major influence on society all over the world. Every business must battle on two aspects: healthcare and economics, and it will be forced to endure this enforced downturn. With the global financial crisis and the resulting cash constraints, there is a lot of hope that the recovery period would proceed smoothly. As nothing more than a result of its progress, the Coronavirus has harmed the whole globe. In practically every country, lockdowns and strong social isolation measures have been introduced. As a result, supply chains have already been interrupted. As a result, there were benefits and drawbacks for the worldwide market

Recent Developments:

24^th January 2022: Magnifying, an Austrian manufacturer of flame retardant chemicals, has been acquired by Huber. With the entire purchase of Magnifin Magnesiaprodukte GmbH & Co. KG – formerly a 50/50 joint venture with RHI Magnesita – Huber Engineered Materials (HEM) has strengthened its position in the fire retardant additives industry. Magnifin, headquartered in Breitenau, Austria, manufactures coated and uncoated magnesium hydroxide (MDH) under the Magnifying trademark.

22^nd, December 2021: Clariant, a focused, sustainable, and inventive specialty chemical firm, said that at its current location in Daya Bay, Huizhou, Guangdong Province, it would build its first Chinese manufacturing plant because of its renowned Exolit OP flame retardants. Clariant considerably improves the speed with which it can supply solutions to its clients in China by building local production capability. Clariant's innovative and sustainable flame retardants are in high demand in China and other Asian markets, thanks to the rapidly growing electrical and electronic equipment sectors, particularly e-mobility, 5G communications technology, and transportation.

Flame Retardant Market Key Players:

The key players in the Flame Retardant Market are:

• Clariant (Switzerland)

• Lubrizol Corporation (United States)

• LANXESS (Germany)

• ICL Group (Israel)

• Albemarle Corporation (United States)

• Dow (United States)

• BASF SE (Germany)

• Nabaltec AG (Germany)

• Akzo Nobel N.V. (Netherlands)

• Italmatch Chemicals S.p.A. (Italy)