Market Snapshot
Global demand for flame retardant continues to grow with plastic industries being one of the primary consumers. Increased polymer productions is partly driving the sales of both halogenated and inorganic or mineral flame retardants. Performance wise, halogenated compounds are excellent but are found to have health and environmental implications. Several chlorinated and brominated flame retardants are banned from commercial use. As a result, the focus is shifting towards halogen-free flame retardants that are ecologically sustainable. In 2017, more than USD 2,190 Mn worth halogen-free flame retardants were sold worldwide. The global market for halogen-free flame retardants is projected to capture a CAGR of 5.76% between 2018 and 2023. There has been a healthy uptick in application of non-halogenated flame retardants in the building and construction sector in recent years owing to their greater viability. Therefore, investment in non-halogenated compounds is expected to go up in the near future.
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Global Market for Halogen-Free Flame Retardants-Competitive Dashboard:
ü Clariant AG
ü LANXESS
ü J.M. Huber Corporation
ü Israel Chemicals Limited
ü Nabaltech AG
ü BASF SE
ü Celanese Corp
ü RTP Company
ü Greenchemicals SpA
ü Kisuma Chemicals B.V.
ü Amfine Chemical Corporation
Global Market for Halogen-Free Flame Retardants-Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the Global Halogen-Free Flame Retardants Market based on type, resin type, and end-use. By type, the market has been segmented into aluminum trihydrate, phosphorous-based, magnesium hydroxide, and others. Among these, the aluminum trihydrate segment is poised to capture a relatively higher share of the market thriving at the highest pace. The growth of the segment can be ascribed to the availability of aluminum trihydrate at meager costs.
By resin type, the market is segmented into polyethylene, polypropylene, epoxy, unsaturated polyesters, polyvinyl chloride, styrenics, engineered thermoplastics, rubber, and others. The polyethylene segment is estimated to reach a valuation of USD 775.98 Mn by the end of 2023 accounting for a substantial share of the market.
By end-use, the market has been segmented into building and construction, electrical and electronics, transportation, consumer goods, and others. The building and construction segment commanded the most significant share of the market in 2017. It is likely to remain a highly lucrative market in the foreseeable future reaching a valuation of USD 1320.45 Mn by the end of 2023.
Regional Outlook:
By region, the halogen-free flame retardants market has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific held the most substantial share of the market in 2017 and is projected to retain its prominence towards the end of 2023 registering a CAGR of 6%. The developments in the building and construction, and, electrical and electronics industries have augured well for the halogen-free flame retardants market in the region. Led by China, the regional market is expected to witness increased demand from the automotive industry.
Europe is expected to retain a significant fraction of the market over 2023 exhibiting a healthy CAGR of 5.61% during the assessment period. The growth is attributable to the increased renovation and rebuilding activities coupled with strict regulatory enforcements such as REACH, RoHS, WEEE, etc.
North America is anticipated to be an emerging growth pocket in the global halogen-free flame retardants market. The region is set to expand at a CAGR of 5.75%. Stringent environmental regulations and building codes in the developed economies are poised to pave the way for growth opportunities in the region.
The Middle East & Africa and Latin America currently account for the least shares in the global market. However, the regions exhibit tremendous potential owing to the growing building and construction industry, and, stabilizing economies.
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