According to the latest report by IMARC Group, titled, “Flame Retardants Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027“, The global flame retardants market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 6.9% during 2022-2027.
Flame retardants refer to chemicals that are utilized to stop, prevent, or slow down the combustion of flammable materials, such as wood, plastic, paper, rubber, etc. They are produced using organ halogens, organophosphates, and numerous active compounds, including bromine, chlorine, phosphorus, nitrogen, etc. Flame retardants find extensive applications in the manufacturing of automobile bumpers, overhead compartments, seat covers, electronic devices, furnishing products, etc. They are also used in electric cables, polystyrene and polyurethane insulation foams, building and construction materials, etc.
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The growing product demand across several industries, such as automotive, electronics, construction, aviation, textile, etc., is primarily driving the flame retardants market. Furthermore, the increasing awareness among individuals and organizations regarding adequate fire management solutions to prevent fire accidents and property loss is also propelling the market growth. Besides this, the rising adoption of phosphorous-based flame retardants in rigid polyurethane foams is further augmenting the global market. Moreover, several innovations, including the development of halogen-free variants that are sustainable and safe for humans upon exposure, are catalyzing the market growth. In the coming years, the expanding chemical industry, coupled with the implementation of favorable fire safety regulations, is projected to fuel the flame retardants market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Almatis GmbH
- BASF SE
- Borealis GmbH (OMV Aktiengesellschaft)
- Budenheim Ibérica S.L.U
- Campine NV
- Clariant AG
- Dover Chemical Corporation (ICC Industries Inc.)
- Dow Inc.
- ICL Group Ltd
- Lanxess AG
- Otsuka Chemical Co. Ltd.
- RTP Company (Miller Waste Mills Inc.).
The report has segmented the market based on type, application and end use industry.
Breakup by Type:
- Alumina Trihydrate
- Brominated Flame Retardants
- Antimony Trioxide
- Phosphorus Flame Retardants
Breakup by Application:
- Unsaturated Polyester Resins
- Epoxy Resins
Breakup by End Use Industry:
- Wires and Cables
- Automotive and Transportation
- Electrical and Electronics
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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