ID: MRFR/CnM/1866-CR | February 2021 | Region: Global | 449 pages
The global report of flame retardants market presents in-depth information regarding the Flame Retardants industry. It offers and covers the important parameters that include multiple terms. The report's key overview provides the parameters that include Challenges, charges, capacity, share, size, marketplace expanding, and technological innovations. The market overview also presents the opportunities and key vendors and key players. The global flame retardants market is expected to a growth CAGR of 6.76% in the year 2025.
Flame retardants are materials that are used to add the compounds such as textiles, plastics, and coatings to prevent the ignition of fires. The Flame retardants market contains multiple end-user applications that include transportation, construction, building, and electronics accessories. This is also used during the polymerization process, molding process, and extrusion. The flame retardants industry is categorized into two forms one is halogenated and non-halogenated flame retardants. But simultaneously, it offers some serious environmental and health issues. Most of the countries like the Environmental Protection Agency (EPA), the European Union, and the US banned most of the halogenated flame retardants. These flame retardants are widely used in diverse end-use applications and have gained significant attention due to the growing flame retardant demand.
Covid 19 analysis:
The continuous and ongoing covid pandemic impacts multiple industries and regions. It offers a bad impact on people as well as private and government organizations. The covid 19 pandemic teaches the market to identify the gap between the supply and demand chain. The covid 19 report also helps you to analyze the value of the insights of the flame retardants market demand. COVID 19 impact has hampered the flame restraints market, just like any other sector in the world. The demand for sales was impacted and reduced, which forced the industry to adopt new measures. Multiple key players and analysts are making strategies to develop the new measures which can help to get back the industry in normal condition. The governmental authorities proposed multiple strategies for the industry's growth plans in the present forecast years to prevent COVID 19 from hampering the market statistics. In this way, the market is being stabilized and gives better revenue generation by increasing the opportunity.
Major drivers of the market:
The global flame retardants market is projected to witness growth registering a CAGR of 6.76%. The report is presented for the period of 2019–2025. There are multiple prominent factors that drive the market growth and rate. The prominent factors that increase this market's revenue include the building & construction, automotive, and electrical & electronics industries.
There is a huge demand for plastic components in the market in the transportation and infrastructure sector. This is also the major driving factor for the growth of the global flame retardant market. When we talk about the countries, then India, China, and the USA are also getting top on the flame retardant market's revenue generation. Because of the huge popularity and opportunity in the market, the market is expected to grow in the upcoming future.
The market restraints of flame retardants market:
At the same time, multiple restraints in the market affect the growth of the market. There are some regulations to use halogenated flame retardants in different countries. The difference in the cost of raw materials also affects the global growth of the market. The increase in the disposable capital income and the investments by the government for the commercial and infrastructural development gives value to the market and raises the market value in the upcoming years.
The role of the construction sector in the market growth:
The flame retardants market witness a considerable amount of rising in the field of the construction sector. The increasing popularity of this market occurs due to the transportation, building and construction, textile, electronic devices, and consumer goods that can contribute to the market upsurge. The increase in construction activities creates market growth on the basis of commercial construction and development projects.
The role of the Automobile Sector in Flame Retardant Market
There is a huge rise in plastic components in the growing automotive sector in flame retardants market growth. The flame retardant is integrated into the automotive seats for the enforcement that hinders the market upsurge. However, the growing utility of recyclable halogen-free Flame Retardants makes the flame retardant market more popular.
The global flame retardants market is fragmented into multiple fields. The market is segmented into application, region, type, and resin.
Segmentation based on the type:
Based on the type, the flame retardants market forecast is segmented into halogenated and non-halogenated flame retardants. According to the market report, the non-halogenated market holds the largest market share. It covers the 60% CAGR between 2019-25. The non-halogenated segment is further divided into sub-segmentation, including aluminum trihydrate, magnesium hydroxide, organo-phosphorus, and others. Among all these, the trihydrate segments hold the largest share of around 55% in the period of 2023.
Segmentation based on resin:
The flame retardants market share is segmented into polypropylene, polyethylene, unsaturated polyesters, styrene, rubber, epoxy, and polyvinyl chloride-based on the resin. Among these, the polyethylene segment holds the largest market share. Polyethylene is expected to the growth by 25% that reach over USD 3,500 million by 2025. The growth of the segment is gaining popularity for the widespread availability and extensive use of flame retardant polyethylene.
Segmentation based on the analysis:
The global flame market retardants the broad range of applications that are based upon the multiple segments. The market has segmented into the electrical and electronics, transportations and textiles, and electronics industry. Among them, the building and construction industry holds the largest market, flame retardants market size. It turns a CAGR of 7.5% from 2019 to 2025. The growth of this field increases due to the growth in infrastructural activities.
Regional players of the market:
The regional analysis of the Global flame retardants Market is divided into the basis of regions. This consists of the regions of Europe, North America, Asia-Pacific, Latin America, and Middle East & Africa. Among these, the Asia Pacific market holds the largest market share due to consumer electronics and automobile industries' growth. The emerging countries that affect the market grew into a good rise in India, China, and Indonesia. The Asia Pacific market owns the largest market share, up to USD 4000 million, having a CAGR of 7.5%. After that, Europe is the second-largest market that is owing to the construction. The European market has registered moderate growth with a CAGR of around 5.5% between 2019 to 2025. The flame retardants market report is expected to reach a CAGR of USD 2500 million. Besides that, North America shares 20% of the global share. Latin America and the middle east also cover the witnessed significant growth over the forecast period. These regions create multiple opportunities that affect the market growth in the period of 2023.
The market key players:
The global flame retardants market is fragmented into multiple key players. It has multiple vendors that work for the growth of the organization in the global market. To produce maximum market share, the key players are following all the governmental regulations. The key players are working and emphasizing the development of halogen-free flame retardants by improving the performance.
The global flame retardants market players who operate the global flame retardants market adopt various strategies that include mergers & acquisitions, expansion, joint ventures, alliances, and expansion to maintain the position and increase the geographic presence. Multiple people are investing in this market because of the increasing demand in the automotive industry to gain maximum revenue. The multiple key players of this market are:
The segmentation table of the flame restraint market:
Global Flame Retardants Market, by Type
Global Flame Retardants Market, by Resin
Global Flame Retardants Market, by Application
Global Flame Retardants Market, by Region
|Market Size||USD 3,500 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||By Type and Halogenated, By Resin, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Clariant (US), ICL (Israel), LANXESS(Germany), BASF SE(Germany), RTP Company Clariant (US), Nabaltec AG(Germany), Celanese Corporation (US), Green chemicals SpA (Italy), Kisumu Chemicals (The Netherlands), Dow (US), Akzo Nobel N.V. (The Netherlands), Amfine Chemical Corporation (US), M. Huber Corporation (US), Italmatch Chemicals SpA (Italy)|
|Key Market Opportunities||Challenges, charges, capacity, share, size, marketplace expanding, and technological innovations|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The flame retardants market has a CAGR of 6.5% for the forecast period of 2019 to 2025.
The Asia Pacific region dominates the market of flame retardants market.
End user industries like building & construction, electricals & electronics, transportation, consumer goods, and others would assist growth for the flame retardants market.
Germany would dominate the European flame retardant market.