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2022

Flame Retardants Market

Flame Retardants Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide Phosphorus Flame Retardants, and Others), Application (Unsaturated Polyester Resins, Epoxy Resins, Polyvinyl Chloride (PVC), Rubber, and Polyolefins), and End-use Industry (Construction, Automotive & Transportation, and Electronics): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Nikhil Mittal | Eswara Prasad
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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. Flame retardant is a chemical used in different applications by different end users.

For instance, flame retardants are added to fabrics in textile industry, including polyester fabrics, nylon fabrics, and polypropylene fabrics to make them flame resistant. Polypropylene is utilized as flame retardants for wire & cable jacketing, small appliances, lawn & garden tools, furniture components, and toys & kitchen tools. Flame retardants are added to thermoplastic vulcanizate elastomers in less concentrations under the guidance of restriction of hazardous substance (RoHS) to stimulate heat resistance of a material to ignition and minimize the rate of flame spread. In the entire process, use of flame retardants as additives prevents little fire from becoming a disaster.

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, implementation of fire system regulations and growth in public awareness for safety in both developed and developing countries surged popularity of flame retardants in various end-use sectors. Moreover, stringent legal frameworks and industry standards led by the government and regulating agencies surged the sales of flame retardants among chemical manufacturing, oil & gas, textiles, and electronics sectors. 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.

Flame Retardants Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

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.

Flame Retardants Market
By Type
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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.

Flame Retardants Market
By End Use Industry
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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. 

Flame Retardants Market
By End Use Industry
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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.

Impact Of Covid-19 On The Global Flame Retardants Market

  • The novel coronavirus led to incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and economy across the globe.
  • COVID-19 negatively impacted the flame retardants market, owing to its dependence on automotive, aerospace, and building & construction sectors. According to a report published by the National Center of Information (NCI), in April 2020, the automotive industry witnessed 30% decline in sales in March 2020 compared to March 2019, owing to lockdowns and shutdowns of auto plants.
  • The ongoing health crisis increased the supply-demand gap, hampering the global flame retardants supply chain.  
  • In addition, several automotive companies have either shutdown or halted their operations, due to risk of infections among workforce, in which flame retardants are used as automotive foams in under-hood areas, including air intakes, manifolds, pumps, and covers for cams and valves. This temporarily hampered the growth of flame retardants market amid the COVID-19 period.
  • In addition, the decline in income of customers and international travel restrictions led to contraction of demand for flame retardants among the aerospace sectors. For instance, according to a report published by the Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than September 2019, affecting long-term existential threat to manufacturers, the supply chain, and to the entire air travel industry.
  • Furthermore, COVID-19 put a temporary halt on various aircraft manufacturing projects, which, in turn, has shrank the demand for flame retardants among the aerospace & aviation sectors. 

Flame Retardants Market Report Highlights

Aspects Details
Flame Retardants Market By Type
By Type
  • Alumina Trihydrate
  • Brominated Flame Retardants
  • Antimony Trioxide
  • Phosphorous Flame Retardants
  • Others
Flame Retardants Market By Application
By Application
  • Unsaturated Polyester Resins
  • Epoxy Resins
  • PVC
  • Rubber
  • Polyolefins
  • Others (Engineering Thermoplastics and PET)
Flame Retardants Market By End User Industry
By End User Industry
  • Construction
  • Automotive & Transportation
  • Electronics
  • Others (Textiles, Aerospace, and Adhesives))
Flame Retardants Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Flame Retardants Market By Key players in the global flame retardants market are:
By Key players in the global flame retardants market are:
  • Albemarle Corporation
  • BASF SE
  • DOW
  • Eastman Chemical Company
  • Hangzhou Lingrui Chemical Co. Ltd.
  • Hongbaoli Group Co. Ltd.
  • Huntsman International Llc
  • Lanxess
  • Muby Chemicals
  • Sasol

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.


 

Author Name(s) : Nikhil Mittal | Eswara Prasad
Frequently Asked Questions?

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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Flame Retardants Market

Global Opportunity Analysis and Industry Forecast, 2021-2030