CHICAGO, Oct. 16, 2023 /PRNewswire/ -- The report "Flame Retardants Market by Type (Aluminum Trihydrate, Antimony Oxide, Brominated), Application (Epoxy, Polyolefin, Unsaturated Polyester), End-Use Industry (Building & Construction, Electronics & Appliances), and Region - Global Forecast to 2028", size was USD 7.0 billion in 2022 and is projected to reach USD 9.5 billion by 2028, at a CAGR of 5.2%, between 2023 and 2028.
Flame retardants are used in various end-use industries including building & construction, electronics & appliances, automotive & transportation, wires & cables, textiles, and others. Flame retardants are chemicals or materials that are added to various products to reduce their flammability and slow down the spread of fires. They are used in a wide range of industries and applications to enhance fire safety.
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190 - Tables
80 - Figures
280 - Pages
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Nitrogen is projected to register the highest CAGR, in terms of value, of the global flame retardants during the forecast period.
The increasing demand for nitrogen-based flame retardants is driven by several factors, including concerns about the environmental and health impacts of traditional flame retardants, regulatory changes, and the need for effective fire safety solutions. Nitrogen-based flame retardants have gained attention due to their potential to provide fire protection while addressing some of the shortcomings associated with other types of flame retardants. All these factors are expected to drive the demand for nitrogen type of flame retardant during the forecast period.
Building & construction is estimated to be the largest end-use industry of the flame retardants, in terms of value, during the forecast period.
Fire safety standards in the construction industry require materials and products used in buildings to meet specific fire performance criteria. Flame retardants help construction materials, such as insulation, roofing, and wall materials, meet these standards by slowing down the spread of flames and reducing the release of toxic smoke and gases during a fire. This is expected to drive the demand for flame retardants in building & construction end-use industry.
Epoxy is estimated to be the largest application of the flame retardants, in terms of value, during the forecast period.
Epoxy resins are used in various construction applications, including adhesives, coatings, and structural components. Epoxy flame retardants are essential in construction materials to enhance fire safety in buildings, infrastructure, and transportation projects. The electronics industry relies heavily on epoxy-based materials for circuit boards, encapsulation, and insulation. Flame retardant epoxy materials are crucial to prevent electrical fires and ensure the safety of electronic devices and systems. All these factors drive the demand for flame retardants in epoxy application.
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Western Europe is estimated to be the second-largest market for the flame retardants market, in terms of value, during the forecast period.
Western Europe has stringent safety regulations and standards related to fire safety in buildings, electronics, transportation, and consumer products. These regulations often require the use of flame retardants to meet specific fire performance criteria. The Western European construction sector places a strong emphasis on fire safety due to the potential risks associated with densely populated urban areas. Flame retardants are widely used in the construction industry to enhance the fire resistance of building materials, such as insulation, roofing materials, and wall coatings. Increasing construction and infrastructure activities in the region is expected to drive the market for flame retardants in building & construction application.
The key players profiled in the report include Albemarle Corporation (US), Clariant AG (Switzerland), LANXESS AG (Germany), BASF SE (Germany), ICL Group Ltd. (Israel), Nabaltec AG (Germany), Huber Engineered Materials (US), ADEKA Corporation (Japan), Italmatch Chemicals S.p.A. (Italy), and Avient Corporation (US).
Browse Adjacent Market: Specialty Chemicals Market Research Reports & Consulting
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Alumina Trihydrate Market - Global Forecast to 2025
Bromine Market - Global Forecast to 2028
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