According to the report, the global flame retardant chemicals market was valued at approximately USD 6.0 billion in 2014 and is expected to reach USD 10.0 billion by 2020, growing at a CAGR of around 10% between 2015 and 2020. In terms of volume, global flame retardant chemicals market stood at 2.5 million tons in 2014. Zion Research has published a new report titled “Flame Retardant Chemicals (Aluminum Trihydrate (ATH), Antimony Oxides, Bromine, Chlorine, Organophosphorus and Others) Market for Building & Construction, Electronics, Automotive & Transportation, Wires & Cables, Textiles, and Other End-users: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”.
Flame retardant chemicals are additives added to manufactured materials, such as plastics and textiles, and surface finishes and coatings that inhibit, suppress, or delay the production of flames to prevent the spread of fire. They may be mixed with the base material (additive flame retardants) or chemically bonded to it (reactive flame retardants). Flame retardants are the combination of a variety of different chemicals with different properties and structures that act as the flame retardant. Flame retardants are designed to minimize the risk of a fire from starting and limit the spread of fire. Flame retardant chemicals are generally used to treat flammable materials such as textile and polymers. Some of the most widely used flame retardant chemicals include bromine, phosphorus, nitrogen and chlorine. Some inorganic compounds are also used as a flame retardant, either alone or as part of a flame retardant system in combination with bromine, phosphorus or chlorine. Flame retardant chemicals can be generally classified as halogenated and non-halogenated flame retardants.
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The global flame retardant chemical market is primarily driven by technological advancements in fire safety solutions and regulations. Strong regulations’ regarding fire safety of buildings & construction and automobile has resulted into strong growth of fire retardant chemicals in the recent past. Plastic and textile are growing popularity among end-users owing to several operational benefits offered by these materials. However, plastic and textile are highly flammable materials. With increasing use of plastic and textile in large number of applications in host of industries such as building & construction, automotive, electrical & electronic is resulted into growing need for fire safety. However, toxicity issues related to use of halogenated flame retardants and high cost of non-halogenated flame retardants is expected to be major restraint of the global flame retardant chemical market.
Aluminum trihydrate (ATH), antimony oxides, bromine, chlorine, organophosphorus and others are the key product segments of flame retardant chemicals market. Bromine was the largest segment of the flame retardant chemicals market with over 25% share in 2014. However, stringent environmental regulations on the usage of bromine in electrical and electronics in Europe and North America are expected to hold back the growth of this segment during the forecast period. Organophosphorus is expected to be one of the fastest-growing product segments of the flame retardant chemicals market in the years to come.
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On the basis of end-users, the global flame retardant chemicals market has been segmented into building & construction, electronics, automotive & transportation, wire & cables, textiles, and others. In terms of demand, the building & construction was the largest end-use industry segment of the flame retardant chemicals market and accounted for more than 30% of the global market share in 2014. Rising building & construction activities in emerging countries are is a major factor driving demand for flame retardant chemicals. This, in turn, is boosting the building & construction application segment of the flame retardant chemicals market. The demand from electrical industry is expected to exhibit moderate CAGR between 2015 and 2020.
Asia Pacific dominated the global flame retardant chemicals market in 2014 followed by North America and Europe. In terms of volume, Asia Pacific accounted for more than 40% of the global flame retardant chemicals market in 2014 and is expected to be the fastest-growing market in the near future. North America accounted for the second-largest market share of the flame retardant chemicals market in 2014. Furthermore, Latin America and Middle East & Africa are also projected to grow at a steady pace due to growing automotive and construction industry in these regions.
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AkzoNobel N.V, BASF SE, Clariant AG, Albemarle Corp, Dow Chemical Company, DuPont, Lanxess AG, Israel Chemicals Ltd (ICL), Chemtura Corporation, Bayer Materialscience, and Dic Corporatio are some major players included in global flame retardant chemicals market.
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