The global flame retardants market is expected to reach USD 11.96 billion by 2025, according to a new report by Grand View Research, Inc. Favorable regulatory scenario promoting the use of these materials for fire safety is expected to fuel market growth over the forecast period. Flame retardants are added to potentially flammable products as a precautionary measure against fire hazards.
Stringent fire safety regulations and guidelines have forced construction industry to adopt flame retardant usage. The usage of the high amount of composite material and plastics has increased the risk of fire hazards. To reduce this risk and to increase the critical escape time in case of fire hazards, there has been an increase in FR usage and this trend is expected to grow over the next nine years thus benefitting flame retardant demand.
Non halogenated flame retardants emerged as the leading product segment and accounted for 57.7% of total market volume in 2015. The product segment is also expected to witness the highest growth of 5.7% over the forecast period. Favorable regulations regarding the use of non halogenated flame retardants are expected to drive this segment over the forecast period.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/flame-retardant-market
Further key findings from the report suggest:
·
The global flame retardant market demand was
2.49 million tons in 2015 and is expected to exceed 4.0 million tons by 2025,
growing at a CAGR of 4.9% from 2016 to 2025
·
Aluminum hydroxide had the highest penetration
within the non halogenated segment, in terms of demand in 2015 and is expected
to grow at an estimated CAGR of 5.7% over the forecast period. Regulations
restricting the usage of halogenated flame retardants have been benefitting
their non halogenated counterparts
·
Epoxy resins were the largest application
segment and accounted for 24.1% of total market volume in 2015. Polyolefins are
expected to experience the fastest growth of 5.5% over the forecast period.
·
Electrical & electronics was the leading
end-use industry consuming flame retardants with a demand share exceeding 40%
in 2015. It is also expected to witness the highest growth of 5.2% over the
forecast period. The growth of electronics industry particularly in Asia
Pacific coupled with favorable regulations is expected to drive growth.
·
They are used widely in electronics &
electrical industry to achieve the prescribed flammability standards.
Components such as printed wiring boards, electrical connectors, wires &
cables and electrical cabinets & enclosures use flame retardants.
·
Asia Pacific was the leading consumer and
accounted for 47.9% of total market volume in 2015. The presence of
manufacturing hubs, rising demand for construction and consumer electronics in
the region are the primarily attributed reasons for the highest penetration.
The region is also expected to witness the highest growth over the forecast
period.
·
Major industry participants include Chemtura
Corporation, Albemarle Corporation, Israel Chemical LTD., Clariant
International Ltd., BASF, & DSM N.V. Companies have been inking agreements
to allow the marketing and sale of their products in the regional markets.
Capacity addition, expansion, and increase in raw material storage capacity to
deal with demand fluctuations have been undertaken by major industry participants.
Read detailed report or request for sample of this research report: - http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the flame retardant market on the basis of product, application, end use and region:
Product Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
·
Halogenated Flame Retardants
o
Brominated FR
o
Chlorinated Phosphates
o
Antimony Trioxide
o
Others
·
Non Halogenated Flame Retardants
o
Aluminum Hydroxide
o
Magnesium Dihydroxide
o
Phosphorous Based
o
Others
Application Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 -
2025)
·
Polyolefins
·
Epoxy resins
·
Unsaturated Polyester
·
Polyvinyl Chloride
·
Engineering Thermoplastics
·
Rubber
·
Styrenics
·
Others
End-Use Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 -
2025)
·
Construction
·
Transportation
·
Electrical & Electronics
·
Others
Regional Outlook (Volume, Kilo Tons, Revenue; USD Million, 2014 -
2025)
·
North America
o
U.S
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
Central & South America
·
Middle East and Africa
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/press-release/global-flame-retardant-market
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