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Flame Retardants Market Analysis

ID: MRFR//1866-CR | 449 Pages | Author: Priya Nagrale| February 2021

The Flame Retardants Market is moulded by a horde of variables that by and large impact its development and patterns. Here is a breakdown of the key viewpoints characterizing the market elements:
Rigid Fire Wellbeing Guidelines:
Severe fire security guidelines across businesses, including development, hardware, and car, drive the interest in fire retardants.
Market elements are altogether affected by advancing security guidelines, as producers look for consistent answers for meet administrative necessities.
Development Industry Development:
The development business is a significant buyer of fire retardants, particularly in materials like protection, froths, and materials.
Market elements are intently attached to the development of the development area, with expanded urbanization and foundation improvement adding to the interest in flame retardant materials.
Ascend in Electronic Gadgets:
The gadgets business depends on fire retardants to upgrade the wellbeing of electronic gadgets and parts.
The proliferation of electronic devices and the requirement for flame retardants to reduce the risk of fire in electronic applications influence market dynamics.
Auto Security Norms:
Severe security guidelines in the car business drive the fuse of flame retardant materials in vehicle insides and parts.
Market elements are formed by the auto area's obligation to meeting security guidelines and improving imperviousness to fire in vehicles.
Shopper Merchandise Applications:
Flame retardants track down applications in an extensive variety of customer merchandise, including furniture, materials, and domestic devices.
Market elements are affected by customer inclinations for fire safe items and the business' reaction to giving protected and consistent products.
Developments in flame retardant formulation technology:
Continuous innovative work led to mechanical headways in fire resistant details, working on their viability and natural profiles.
Developments in flame retardant science impact market elements by offering arrangements that balance wellbeing and supportability.
Ecological Worries and Guidelines:
Expanding natural mindfulness prompts the advancement of harmless to the ecosystem flame retardants.
Market elements are formed by guidelines limiting the utilization of specific flame retardants synthetic compounds, driving makers to zero in on eco-accommodating other options.
Worldwide Market Patterns:
The Flame Retardants Market is impacted by worldwide market patterns, remembering shifts for assembling areas and inventory network elements.
Market elements are receptive to changes sought after from various locales and the business' transformation to worldwide monetary circumstances.
Unrefined substance Accessibility and Evaluating:
The accessibility and estimating of unrefined components, like bromine, phosphorus, and aluminum hydroxide, influence market elements.
Vacillations in natural substance costs can impact the expense design of flame retardants, influencing market seriousness.
Wellbeing and Security Concerns:
Wellbeing and security concerns connected with the utilization of specific flame retardants synthetic substances influence market elements.
Market patterns are impacted by a shift towards fire retardants with lower poisonousness and diminished wellbeing chances.
Shift towards Without halogen Flame Retardants:
The market elements are seeing a shift towards sans halogen fire retardants because of worries about the ecological effect of halogenated compounds.
Producers are adjusting to this pattern by creating elective flame-retardant arrangements that meet administrative necessities.
Market Combination and Consolidations/Acquisitions:
Key players in the Flame Retardants Market consolidate through mergers and acquisitions.
Market elements are affected by the essential moves of organizations expecting to extend their item portfolios and reinforce their market positions.

Global Flame Retardants Market Overview

The Flame Retardants Market Size was estimated at USD 8.65 billion in 2023. The Flame Retardants industry is projected to grow from USD 9.25 Billion in 2024 to USD 14.76 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.02% during the forecast period (2024 - 2032). Increased demand for flame retardants in infrastructure and a rise in consumption of electronics are the key market drivers contributing to the overall growth of the market.

Flame Retardants Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Flame Retardants Market Trends

  • Growing flame retardants in infrastructure are driving market growth

Market CAGR for flame retardants is driven by the rising demand for flame retardants in infrastructure. The market for plastic parts in the infrastructure and transportation sectors is extremely competitive. The market for flame retardants is likewise being driven primarily by this. Explosions and fire-related catastrophes are more likely now with more residential and commercial buildings. As a result, there are now more stringent fire safety laws and policies in industrialized nations, increasing the Application of flame retardants in construction to comply with government standards.

Additionally, market participants are creating effective synergists to improve their fire-retardant properties. The quantity necessary to provide an identical degree of non-flammability can be decreased by using synergists in these items. Additionally, synergists are created to address issues like corrosivity and impart qualities like great dispersion and UV protection. Polyester and polypropylene textiles, among others, are treated with flame retardants in the textile business to render them resistant to flames. To increase heat resistance and slow the rate of flame, they are incorporated into thermoplastic vulcanizate elastomers at minimal quantities in accordance with the RoHS regulations. Incorporating flame retardants as supplements stop small fires from turning into catastrophes.

The ongoing and persistent covid epidemic impacts multiple businesses and geographical areas. COVID-19 impacted the market for flame retardants, as the industry was compelled to take new actions because the need for sales suffered and decreased. Many influential figures and analysts are formulating plans to create novel policies to restore the industry to its pre-crisis state. To prevent COVID-19 from harming market statistics, the governmental authorities put up several initiatives for the industry's growth goals in the current projection years. By expanding the potential, this method stabilizes the market and improves revenue generation.

For instance, the usage of flame retardants has increased significantly over the past four years, especially in electronic devices. According to market research by IHS Consulting, it will keep growing at an annualized rate of 2.7% between 2019 and 2025. The plastics and resin sector is the largest consumer of flame retardants. The majority of the remainder is made up of textile and rubber products. As a result, it is anticipated that demand for flame retardants will increase throughout the projection period due to the rising consumption of electronic devices. Thus, driving the Flame Retardants market revenue.

In 2024, Finolex Cables will introduce a line of eco-friendly wires under the FinoGreen name. It would account for around 5% of the company's wire business. FinoGreen's halogen-free and flame-retardant industrial cables are designed to reduce safety concerns in electrical installations and prevent accidents, notably fires.

In 2024, Trinseo will produce two grades of Emerge-brand polycarbonate resin and one grade of Emerge-brand PC/ABS blend with those performance characteristics. They also stated that the new materials have the same flame-retardant qualities and resilience to heat, oil, grease, and water as PFAS.

MAGNIFIN Magnesiaprodukte GmbH & Co KG (MAGNIFIN) was successfully acquired by Huber Engineered Materials in January 2022. The range of products that were previously offered by MAGNIFIN and represented by Martinswerk GmbH has smoothly blended with Huber’s Fire-Retardant Additives (FRA) strategic business unit. In this respect, the integration is meant to strengthen Huber’s global influence on smoke suppressants, specialized aluminum oxides, and halogen-free fire retardants that it offers.

Flame Retardants Market Segment Insights

Flame Retardants Type Insights

The Flame Retardants market segmentation, based on Type, includes Aluminum Trihydrate, Organo-Phosphorus, Magnesium Hydroxide, and Others. The Aluminum Trihydrate dominated the market, accounting for 60% of the market share (USD 4.9 billion) in 2022. There is a rise in demand for sustainable and less toxic flame retardants that are fulfilled by non-halogenated products, which include Aluminum Trihydrate, which is a key driver in boosting the market growth.

Figure 1:  Flame Retardants Market, by Type, 2022 & 2032 (USD billion)

Flame Retardants Market, by Type, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Flame Retardants Application Insights

The Flame Retardants market segmentation is based on Applications including Building & Construction, Electricals & Electronics, Transportation, Textiles, and Others. The Building & Construction category generated the highest market share of about 53% (USD 4.3 billion) in 2022. Building & construction significantly impacts the flame-retardant market's growth due to the growing population and demand for housing needs in emerging nations. Additionally, in industrial development and building projects, the expansion in construction activities generates market growth.

Flame Retardants Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Flame retardants market region will dominate, owing to the rising consumption of electronics and electrical components among consumers. In addition, Due to rising investments in EVs and private construction projects boost demand for flame retardants in this area.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  Flame Retardants Market Share by Region 2022 (%)

Flame Retardants Market Share by Region 2022

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s Flame Retardants market accounts for the second-largest market share due to increased consumption of automotive goods and supportive government regulations boosting the overall market growth. Further, the German Flame Retardants market dominates the market revenue, and the UK Flame Retardants market is expected to grow steadily in the European Region.

The Asia-Pacific Flame Retardants Market to grow its market share quickly during the projected timeframe. This is due to the growing population and increasing demand for contributions that will boost the market demand. Moreover, China’s Flame Retardants market dominates the market share, and the Indian Flame Retardants market is expected to grow steadily in the Asia-Pacific region.

For instance, From April 2000 to March 2021, the Indian textile industry attracted $3.75 billion in FDI, according to research released by the India Brands Equity Foundation in December 2021. Furthermore, Asia-Pacific is a desirable market for manufacturers due to low labor costs, affordable setup, and flame retardants. These elements fuel the market's expansion for flame retardants.

Flame Retardants Key Market Players & Competitive Insights

Leading market players invest in research and development on a large scale to increase their production capacity, which will help the Flame Retardants market. Market participants are also undertaking an organic and inorganic strategic approach to expand their brand and market revenue ly, with important market developments including new product launches, partnerships, mergers and acquisitions, capital investments, and strategic alliances with other organizations. The flame Retardants industry must offer cost-effective solutions to compete in fragmented markets.

Manufacturing locally to minimize expenses is one of the key business tactics organizations use in the Flame Retardants industry to benefit customers and capture the majority of market share. The Flame Retardants industry has offered significant advantages to building and construction activity in recent years. Major players in the Flame Retardants market, including 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), and Italmatch Chemicals SpA (Italy), are attempting to increase market share by investing in research and development to produce sustainable solutions.

Clariant AG is an international manufacturer of specialized chemicals based in Muttenz, Switzerland. Catalysis, Care Chemicals, and Natural Resources are the three business segments through which it works. Clariant was established in 1995 after its spinoff from Sandoz, another chemical organization. One of the top specialty chemical firms is internationally known for its innovation, sustainability, and focus. In December 2021, Clariant announced the building of its first manufacturing facility in China so that it may provide products to its Chinese clients.

Joseph Maria Huber established the J.M. Huber Corporation in 1883, with its main office in Edison, New Jersey. Various consumer and industrial products are included in Huber's product line, including dental and personal care products, dietary supplements, flame retardants and smoking suppressants, forest management, and construction materials. They are among the biggest privately held American businesses, with $2.2 billion yearly revenue. They operated as a Portfolio Management Company (PMC), the J.M. Huber Corporation. This organizational structure allows our various businesses to run their enterprises independently while enjoying the advantages of belonging to a sizable, intergenerational family firm. In May 2021, J.M. Huber Corp. announced the execution of a binding contract to buy out RHI Magnesita's (RHIM) 50% stake in their joint venture. As part of acquiring the Martinswerk business, Huber initially completed the acquisition of a 50% ownership position.

Clariant, a specialty chemical business focusing on sustainability, marked another milestone in its China Strategy today with the official opening of its new cutting-edge production facility for halogen-free flame retardants in Daya Bay, Huizhou. The CHF 60 million investment in the plant's first production line will give local customers access to innovative and sustainable Exolit OP flame retardants, as well as related technical expertise, to support the significant growth of engineering plastics applications in the E-mobility and electrical & electronic sectors.

BASF unveiled an innovative range of electronic industry-specific fire-retardant products in April 2022. These polyphthalamides have peculiarities, such as corrosion resistance.

LANXESS introduced novel phosphorus-based flame-retardants for engineering plastics with special properties like mechanical/thermal stability in September 2022.

Key Companies in the Flame Retardants market include

  • 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)

  • Huber Corporation (US)

  • Italmatch Chemicals SpA (Italy)

Flame Retardants Industry Developments

In December 2021, CLARIANT began constructing a new flame-retardant production site in Daya Bay, Guangdong Province, China, where it is already established. CLARIANT expects the new plant to increase its production capacity as well as allow more efficient service delivery for flame retardant solutions that are increasingly sought after in the region.

In November 2021, Italmatch Chemicals SpA presented “Liquid Masteret,” which is a new phosphor flame retardant. It comprises concentrated mixtures of stabilized and micro-encapsulated Red Phosphorus (RP). This offering meets market demands, thus creating an effective way of protecting fires in sectors that prefer non-halogen options.

September 2022 saw LANXESS release novel phosphorous-based flame-retardants having such unique traits as thermal and mechanical stability and engineering plastics compatibility.

Flame Retardants Market Segmentation

Flame Retardants Type Outlook

  • Aluminum Trihydrate

  • Organo-Phosphorus

  • Magnesium Hydroxide

  • Others

Flame Retardants Application Outlook

  • Building & Construction

  • Electricals & Electronics

  • Transportation

  • Textiles

  • Others

Flame Retardants Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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