Flame Retardants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Flame Retardants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global flame retardants market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 6.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Flame retardants are chemicals applied to prevent, stop or slow down the combustion of flammable materials, such as wood, plastic, paper, rubber and fibers. They are manufactured using organohalogens, organophosphates and various active compounds, such as bromine, chlorine, phosphorus, nitrogen, aluminum, magnesium, boron and carbon. Flame retardants are commonly used for the manufacturing of automobile bumpers, overhead compartments, seats covers, furnishing products, such as carpets, curtains and upholstery, and electronic devices, including televisions, laptops and personal computers. They are also widely used in electric cables, polystyrene and polyurethane insulation foams and building and construction materials. However, long-term exposure to flame retardants can have detrimental effects on human health and can cause neurological damage, hormonal disruption and cancer.

Flame Retardants Market Trends:
The increasing utilization of fire retardants across various industries, such as automotive, electronics, construction, aviation and textile, is one of the key factors driving the market growth. Moreover, rising awareness among the masses regarding the need for effective fire management solutions to prevent fire incidents and property loss is providing a thrust to the market growth. For instance, consumer electronics manufacturers are widely using flame retardants in electric wire insulations in circuit boards, electronic casing, and wires and cable systems to prevent fires. In line with this, the widespread adoption of phosphorous-based flame retardants in rigid polyurethane foams is also contributing to the growth of the market. Additionally, various product innovations, such as the development of halogen-free variants that are sustainable and safe for humans upon exposure, are favoring the market growth. Other factors, including significant growth in the chemical industry across the globe, along with the implementation of favorable fire safety standards and regulations, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flame retardants market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application and end use industry.

Breakup by Type:

Alumina Trihydrate
Brominated Flame Retardants
Antimony Trioxide
Phosphorus Flame Retardants
Others

Breakup by Application:

Unsaturated Polyester Resins
Epoxy Resins
PVC
Rubber
Polyolefins
Others

Breakup by End Use Industry:

Construction
Wires and Cables
Automotive and Transportation
Electrical and Electronics
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Almatis GmbH, BASF SE, Borealis GmbH (OMV Aktiengesellschaft), Budenheim Ibérica S.L.U, Campine NV, Clariant AG, Dover Chemical Corporation (ICC Industries Inc.), Dow Inc., ICL Group Ltd, Lanxess AG, Otsuka Chemical Co. Ltd. and RTP Company (Miller Waste Mills Inc.).

Key Questions Answered in This Report:
How has the global flame retardants market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global flame retardants market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global flame retardants market and who are the key players?
What is the degree of competition in the industry?