The global Flameretardant market size was valued over USD 6.27 billion in 2015. Flame retardant is a key component reducing the impact of fires on people, property, and environment. Flame retardants either prevent the fire from starting or slow it down significantly. The growth in industries such as construction, transportation, and electrical & electronics is expected to propel market demand over the forecast period.
Governments
around the world have framed stringent regulations aimed at reducing destruction
caused to life and property due to fire. Government regulation pressure and
growing awareness regarding fire safety among industry participants are
expected to boost market demand.
Product Insights
The
major product segments in the market are halogenated flame retardants and
nonhalogenated flame retardants. Nonhalogenated product type was the major
product segment in 2015 with demand exceeding 1,400 kilo tons. The consumption
of these products is expected to grow rapidly owing to growing concerns about pollution
caused by halogenated type.
Brominated
products dominated the halogenated segment and accounted for more than 40%
market share in 2015. In nonhalogenated type, Aluminum hydroxide was the
largest product segment and its growing application in end-use industries is
expected to augment demand for these products.
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Application Insights
Polyolefin
was the largest application segment in 2015 and accounted for more than 20% of
the overall market. The high flame retardant loading capacity exhibited by polyolefins
is responsible for their growing demand in end-use industries such as
construction and electrical. The growing demand for high-quality coatings is
expected to boost the application of epoxy resins. Epoxy resins consumption was
estimated to be around 600 kilotons in 2015.
End-Use Insights
Flame
retardants are used to reduce this risk of fire in a wide range of electronic
products such as smartphones, laptops, refrigerators, TV sets, printed wiring
boards, and vacuum cleaners. Rising disposable income is boosting the growth of
electrical & electronics segment owing to which the demand for flame
retardants is expected to be high in this application segment.
Construction
end use segment is anticipated to grow at a CAGR of 6.8% over the forecast
period on account of growing investments in developing countries. Fire safety
and prevention is the primary concern of the consumers in construction, the
demand is expected to grow rapidly over the forecast period.
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Regional Insights
Asia
Pacific was the major regional segment and accounted for over 45% of total
volume in 2015. High demand from countries such as China, Japan, and India are
benefitting the market growth. The upcoming electrical & electronics
manufacturing hubs coupled with a positive outlook for construction sector is
expected to drive the flame retardant market over the forecast period.
The
growing pressure of regulatory agencies such as REACH and European Flame
Retardant Association (EFRA) is driving the demand for these products in
Europe. Europe consumed over 600 kilotons in 2015. The presence of a large
number of end-use industries is expected to boost market growth in this region.
Competitive Insights
Key
industry players include BASF, Albemarle, Chemtura, ICL, Clariant International
Ltd., Italmatch Chemicals, Huber Engineered Materials, DSM & Thor Group
Ltd. Major industry participants have focused their efforts on the acquisition
of local companies to increase their global footprint. Companies are investing
heavily in product innovation to gain market share.
Market Segment:
Product
Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
• Halogenated Flame Retardants
• Brominated
FR
• Chlorinated
Phosphates
• Antimony
Trioxide
• Others
• Non Halogenated Flame Retardants
• Aluminum
Hydroxide
• Magnesium
Dihydroxide
• Phosphorous
Based
• Others
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