PUNE, India, April 11, 2016 /PRNewswire/ --
The report "Halogen-Free Flame Retardants Market by Type (Aluminum Hydroxide, Organo-Phosphorus and Others), by Application (Polyolefins, UPE, ETP, and Others), by End-Use Industry (E&E, Construction, Transportation, and Others) and by Region - Global Forecasts to 2021", published by MarketsandMarkets, The market size was USD 3.36 Billion in 2015 and is projected to reach USD 5.38 Billion by 2021, registering a CAGR of 8.4% between 2016 and 2021.
Browse 86 market data Tables and 48 Figures spread through 139 Pages and in-depth TOC on "Halogen-Free Flame Retardants Market"
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The market is driven by the increasing government regulations for environment safety and the flourishing electrical & electronics and automotive industries. The rising awareness among consumers regarding toxic emissions released by fire is driving the halogen-free flame retardants market in many developed and emerging economies such as Europe, North America, and Asia-Pacific. In addition, a shift toward synergist blends as halogen-free flame retardants is reflecting innovation in technology advancement.
Aluminum hydroxide to account for the major share of the halogen-free flame retardants market until 2021, in terms of volume
The Halogen-Free Flame Retardants Market is segmented by type, namely, aluminum hydroxide, organo-phosphorus chemicals, and others. Aluminum hydroxide is the most preferred type and holds the major market share in global halogen-free flame retardants market. The factors driving the aluminum hydroxide market are its low cost, easy availability, and high use in all the sectors.
Growing electrical & electronic industry in the emerging regions to drive the halogen-free flame retardants market
The electrical & electronic industry is leading the halogen-free flame retardants market. This is due to the rapid growth of the automotive, construction, textiles, and electrical & electronics industries in the Asia-Pacific region. The increasing demand of automobiles can be attributed to the increased government regulations to abide strictly by the norms to attain fire safety in their products. With the innovative approach toward using technology as the key parameter, the market of halogen-free flame retardants is going to rise further.
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North America to be the largest market during the forecast period
The halogen-free flame retardants market is broadly segmented into six regions, namely, Asia-Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America. North America is the largest market for halogen-free flame retardants, followed by Western Europe. Asia-Pacific is projected to be the fastest-growing market during the forecast period. Growing industrialization has offered enormous opportunity for the various manufacturing industries to use halogen-free flame retardants in the Middle East & Africa. Moreover, the increasing inclination to synergist compounds as flame retardants is gaining momentum
Currently, the global halogen-free flame retardants market is dominated by various market players such as Clariant International Ltd. (Switzerland), Lanxess AG (Germany), Israel Chemicals Ltd. (Israel), Albemarle Corporation (U.S.), Nabaltech AG (Germany), Chemtura Corporation Ltd. (U.S.), and others.
The research study is aimed at identifying emerging trends and opportunities in the global halogen-free flame retardants market along with a detailed classification of the market, in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global halogen-free flame retardants market based on application, type, and region.
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