Flame Retardant Market Size Worth $12.99 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Nov. 24, 2021 /PRNewswire/ -- The global flame retardant market size is anticipated to reach USD 12.99 billion by 2028, registering a CAGR of 8.0% over the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the growing application scope in key end-use industries including automotive, electrical & electronics, transportation, construction, and others. In addition, increasing demand for these products in applications, such as polyolefin, Engineering Thermoplastics (ETP), epoxy resins, Polyvinyl Chloride (PVC), and rubber, coupled with the presence of favorable government regulations, especially in Asia Pacific, North, America, and Europe, will drive the market in the coming years.

Key Insights & Findings:

• Asia Pacific was the dominant regional market in 2020 owing to the increased investments in the end-use industries, such as transportation and construction, especially in developing countries like India
• The U.S. accounted for the largest share of the North America regional market in 2020 due to the large-scale production and rapid growth of the electrical & electronics, automotive, and construction sectors in the U.S.
• The non-halogenated product segment accounted for the highest revenue as well as volume share in 2020 owing to increased environmental concerns and stringent government regulations
• The bromine-based halogenated product segment led the market in 2020, in terms of revenue, owing to the high demand as a result of their low cost and high performance
• In 2020, aluminum hydroxide emerged as the largest non-halogenated product segment, in terms of both volume and revenue, owing to its non-toxic nature and low cost

Read 82 page market research report, "Flame Retardant Market Size, Share & Trends Analysis Report By Product (Halogenated, Non-halogenated), By Application (Polyolefin, Epoxy Resins), By End Use (Electrical & Electronics, Construction), And Segment Forecasts, 2021 - 2028", by Grand View Research

Halogenated products, including brominated, chlorinated, phosphate-based, and antimony trioxide-based, are widely used in various applications, such as printed wiring boards, wires & cables, floorings, flexible polyurethane foams, polyolefins, polyamides, wall sheeting, refrigeration, and others. The demand for environmentally friendly products, such as non-halogenated flame retardants, is growing at a rapid pace. The Asia Pacific, North America, and Europe regions have emerged as the largest consumers owing to the presence of stringent environmental sustainability policies and the rising awareness about fire safety among consumers.

Phosphorus-based flame retardants, both chlorinated and non-halogenated, are extensively used in flexible and rigid polyurethane foams and the demand is anticipated to augment in the coming years. They have wide application prospects, and it is a vital part of inorganic flame retardants. These products can be divided into inorganic and organic phosphorous products. Asia Pacific holds a substantially high share owing to the increasing product penetration in the end-use industries including automotive, electrical & electronics, construction, and others. The markets in Asia Pacific are witnessing high production, especially in countries, such as India, China, Japan, and South Korea, owing to the growing emphasis on eco-labeled fire resistance products.

The COVID-19 pandemic has highly impacted the growth of the automotive and construction, sectors. The halting of manufacturing activities, slowing down of construction projects, and ongoing labor shortages owing to travel restrictions are expected to affect the demand for the products and their derivatives in construction applications over the forecast period. The global market is highly competitive due to the presence of a large number of multinationals that are engaged in constant R&D activities. Companies, such as BASF SE, Clariant, DuPont, DSM, Albemarle Corp., and LANXESS have a global presence and dominate the market due to a wide range of products for each application market. A majority of these companies have integrated their business operations across the value chain.

Grand View Research has segmented the global flame retardants market on the basis of product, application, end use, and region:

• Flame Retardants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• Halogenated
• Brominated
• Chlorinated Phosphates
• Antimony Trioxide
• Others
• Non-Halogenated
• Aluminum Hydroxide
• Magnesium Dihydroxide
• Phosphorus Based
• Flame Retardants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• Polyolefins
• Epoxy Resins
• UPE
• PVC
• ETP
• Rubber
• Styrenics
• Others
• Flame Retardants End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• Construction
• Transportation
• Electrical & Electronics
• Others
• Flame Retardants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Norway
• Asia Pacific
• China
• India
• Japan
• South Korea
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa

List of Key Players of Flame Retardant Market

• Clariant
• LANXESS
• BASF SE
• ICL
• Abermarle Corp.
• DuPont
• DSM

Check out more studies related to fire fighting and protection systems, conducted by Grand View Research:

• Fire Protection System Market– The global fire protection system market size is expected to reach USD 114.9 billion by 2028, registering a CAGR of 6.8% over the forecast period, according to a study conducted by Grand View Research, Inc.
• Europe Passive Fire Protection Market– The Europe passive fire protection market size is expected to reach USD 1.4 billion by 2028, registering a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc.
• Fire Alarm And Detection Market– The global fire alarm and detection market size is expected to reach USD 62.02 billion by 2028, registering a CAGR of 4.1% during the forecast period, according to a study conducted by Grand View Research, Inc.

Browse through Grand View Research's coverage of the Global Plastics, Polymers & Resins Industry

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter 

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.