Flame Retardants Market by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, and Others), by Application (Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, and Others), and by End User Industry (Construction, Automotive and Transportation, Electronics, and Others)– Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Materials and Chemical | Publish Date: 20-Mar-2024 | No of Pages: 378 | No. of Tables: 235 | No. of Figures: 200 | Format: PDF | Report Code : N/A
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Market Overview
The global Flame Retardants Market size was valued at USD 8.35 billion in 2023, and is predicted to reach USD 12.66 billion by 2030, with a CAGR of 6.13% from 2024 to 2030. Flame retardants are chemicals or materials added to products to reduce the flammability and slow down the spread of fire.
Flame retardants are crucial additives used in various sectors such as construction, electronics, automotive, fabrics and textiles to enhance fire safety and comply with regulatory standards. These additives work by either disrupting the combustion process or forming a protective layer that inhibits the ignition and propagation of flames, thereby reducing the risk of fire-related accidents and property damage.
Growth in construction activities fuels the market growth
The construction industry is experiencing significant growth globally, leading to an increased demand for flame retardants in building materials. This demand stems from the need to enhance fire safety measures and adhere to strict building codes and regulations.
As construction projects expand, there's a greater emphasis on incorporating fire-resistant materials to minimize the risk of fires and ensure compliance with safety standards. Flame retardants play a crucial role in improving the fire resistance of various construction materials such as insulation, coatings, and plastics, thereby bolstering overall safety in buildings and structures. This trend underscores the importance of flame retardants in supporting the safety and integrity of construction projects worldwide.
Stringent government regulations are boosting the growth of the market
The demand for fire retardant materials is on the rise due to increasing regulatory requirements and standards across industries such as construction, electronics, and automotive. Governments and industry bodies are imposing stricter rules to enhance fire safety in buildings, electronic devices, and vehicles.
As a result, there's a growing need for flame retardants to meet these standards and ensure compliance with safety regulations. In June 2023, the U.S. government published new rules regarding flame retardants for certain non-ongoing uses, aiming to regulate their significant new applications.
These regulations, outlined in the publication, have the potential to impact the flame retardants market by addressing specific non-ongoing uses of these materials. This trend is pushing manufacturers to invest in flame retardant technologies to develop products that effectively mitigate fire risks and enhance overall safety in various applications.
Technological Advancements is further boosting the market growth
Ongoing research and development endeavors are propelling advancements in flame retardant technologies, leading to the creation of more effective and eco-friendly flame-retardant products. Through continuous innovation, manufacturers are devising novel formulations and methods that enhance the fire-retardant properties of materials while also prioritizing environmental sustainability.
In October 2023, Solvay, launched the latest Solvalite grade, aimed at bolstering flame retardancy in battery enclosures, particularly in electric vehicles. This innovative solution responds to the growing need for heightened safety standards in battery applications, catering to the rapidly expanding electric vehicle market.
These efforts focus on developing flame retardants that not only provide robust fire protection but also minimize environmental impact, such as by reducing toxic emissions and improving biodegradability. The result is a new generation of flame-retardant solutions that offer improved performance and eco-friendliness, meeting the evolving needs of industries while aligning with environmental conservation goals.
Environmental concerns along with cost considerations restrains the market growth
However, environmental concerns along with cost considerations associated with the implementation of flame retardants are restraining the growth of the market. Many traditional flame retardants contain chemicals that can persist in the environment and bioaccumulate in organisms, leading to potential ecological harm. Implementing flame retardant measures, such as using specialized materials or additives, can add to the overall cost of manufacturing products, impacting. The development of bio-based and halogen-free flame retardants creates opportunities for the market
The flame retardants market is poised for growth with the development of bio-based and halogen-free flame retardants. As environmental concerns continue to rise and regulations become more stringent, there is a growing demand for flame retardant solutions that are safer and more sustainable. Bio-based flame retardants, derived from renewable sources, offer an eco-friendly alternative to traditional chemicals, reducing reliance on fossil fuels and minimizing environmental impact.
Similarly, halogen-free flame retardants address health and environmental concerns associated with halogen-containing compounds, providing safer alternatives for various applications. These developments represent lucrative opportunities for the flame retardants market as industries seek greener and more sustainable solutions to meet regulatory requirements and consumer demands.
Asia-Pacific Dominates the Flame Retardants Market
The growing automotive industry in the Asia Pacific region is a significant driver for the flame retardants market. As countries such as China, India, and Southeast Asian nations experience rapid economic development and urbanization, there is a surge in demand for automobiles. According to the International Trade Administration, China remains the global leader in vehicle sales and manufacturing output, maintaining its position as the largest vehicle market worldwide.
By 2025, domestic production is projected to reach 35 million vehicles, underscoring the country's significant presence and growth in the automotive industry. With this growth, automotive manufacturers are increasingly focused on ensuring safety standards and regulations compliance. Flame retardants play a crucial role in enhancing fire safety within vehicles by reducing the risk of ignition and slowing down the spread of flames in case of a fire incident.
Therefore, the automotive industry's need for flame retardant materials to meet safety requirements is driving the demand for flame retardants in the Asia Pacific region. As a result, flame retardant manufacturers are witnessing growing opportunities to supply their products to automotive manufacturers and suppliers across the region.
Also, the proliferation of electronic devices and gadgets in the Asia Pacific region has led to an increased demand for flame retardants in components and casings to mitigate fire risks and ensure product safety. As the region experiences rapid industrialization and urbanization, coupled with the growing adoption of electronic devices in both consumer and industrial sectors, there is a heightened emphasis on fire safety regulations and standards. GSMA reports that Asia Pacific is projected to reach over 3 billion smartphone connections by 2030, resulting in a smartphone adoption rate of 94% for the region, surpassing the global average of 92%.
This drives the need for flame retardant materials to be incorporated into electronics manufacturing processes across various industries, including telecommunications, consumer electronics, and automotive sectors, thus fuelling the demand for flame retardants in the Asia Pacific market.
North America to Show Steady Growth in the Flame Retardants market
North-America is expected to witness an increased demand for flame retardants in the coming years, driven by stringent regulations and standards imposed by government bodies and industry associations to enhance fire safety across various sectors such electronics, and automotive. The US government introduced the "Significant New Uses Rules for Certain Non-Ongoing Uses" on June 22, 2023, through the Environmental Protection Agency (EPA). It requires notice to the EPA before chemical substances and mixtures are used in new ways, with a requirement for notification at least 90 days prior to initiating activities via a significant new use notice (SNUN).
These regulations mandate the use of flame-retardant materials in building materials, electronic devices, and vehicles to mitigate fire risks and ensure compliance with safety requirements. Additionally, the developed transportation industry in the U.S. is driving the flame retardants market through its stringent safety regulations and standards. As per the American Trucking Association, trucks are responsible for transporting approximately 72.6% of the nation's freight by weight.
In 2022, these vehicles moved 11.46 billion tons of freight, accounting for 72.6% of the total domestic tonnage shipped. In the automotive, aerospace, and rail sectors, there is a critical need for flame retardant materials to enhance fire safety and meet regulatory requirements.
As vehicles become more technologically advanced and incorporate a greater number of electronic components, the risk of fire-related incidents increases. Consequently, manufacturers are increasingly turning to flame retardant materials to mitigate these risks and ensure passenger safety.
Additionally, with a growing emphasis on sustainability and environmental responsibility, there is a demand for flame retardants that are both effective and eco-friendly. This combination of regulatory compliance, technological advancement, and environmental consciousness is propelling the growth of the flame retardants market in the U.S. transportation industry.
Competitive Landscape
Several market players operating in the flame retardants market include Albemarle Corporation, BASF SE, The Dow Chemical Company (DOW), Eastman Chemical Company, Hangzhou Lingrui Chemical Co. Ltd., Hongbaoli Group Co. Ltd., Huntsman International LLC, Lanxess, Muby Chemicals, Sasol Limited, and others. These market players are adopting product launches, and acquisition across various regions to maintain dominance in the flame retardants market.
For instance, in May 2023, Huntsman Corporation launched new materials designed to improve flame retardancy in consumer electronics. These materials enhance fire safety in electronic devices such as smartphones, tablets, and laptops.
Moreover, in November 2022, LANXESS launched Emerald Innovation NH 500, a new phosphorus flame retardant designed to enhance fire safety in various applications, including electronics, automotive, and construction materials.
Key Market Segments
By Type
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Alumina Trihydrate
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Brominated Flame Retardants
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Antimony Trioxide
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Phosphorous Flame Retardants
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Others
By Application
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Unsaturated Polyester Resins
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Epoxy Resins
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PVC
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Rubber
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Polyolefins
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Others
By End User Industry
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Construction
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Automotive & Transportation
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Electronics
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Others
By Region
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North America
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The U.S.
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Canada
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Mexico
-
-
Europe
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The U.K.
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
-
-
Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
-
-
Rest of the World (RoW)
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 8.35 Billion |
|
Revenue Forecast in 2030 |
USD 12.66 Billion |
|
Growth Rate |
CAGR of 6.13% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Albemarle Corporation
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BASF SE
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The Dow Chemical Company (DOW)
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Eastman Chemical Company
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Hangzhou Lingrui Chemical Co. Ltd.
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Hongbaoli Group Co. Ltd.
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Huntsman International LLC
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Lanxess
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Muby Chemicals
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Sasol Limited
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