18 November 2019 - Million
Insights Market Research has published a new report titled ‘Flame Retardant Market – Global Industry Analysis, Size, Share,
Growth, and Forecast, 2018–2026.’ Flame Retardant market report helps
analyze trends and significant developments in the industry.
The global flame retardant market size was valued over USD
6.27 billion in 2015. Flame retardant is a key component reducing the impact of
fires on people, property, and environment. Flame retardants either prevent the
fire from starting or slow it down significantly. The growth in industries such
as construction, transportation, and electrical & electronics is expected
to propel market demand over the forecast period.
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The major product segments in the market are halogenated
flame retardants and nonhalogenated flame retardants. Nonhalogenated product
type was the major product segment in 2015 with demand exceeding 1,400 kilo
tons. The consumption of these products is expected to grow rapidly owing to
growing concerns about pollution caused by halogenated type.
Brominated products dominated the halogenated segment and
accounted for more than 40% market share in 2015. In nonhalogenated type,
Aluminum hydroxide was the largest product segment and its growing application
in end-use industries is expected to augment demand for these products.
Application Insights
Polyolefin was the largest application segment in 2015 and
accounted for more than 20% of the overall market. The high flame retardant
loading capacity exhibited by polyolefins is responsible for their growing
demand in end-use industries such as construction and electrical. The growing
demand for high-quality coatings is expected to boost the application of epoxy
resins. Epoxy resins consumption was estimated to be around 600 kilotons in
2015.
Market Segment:
Product Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
• Halogenated
Flame Retardants
•
Brominated FR
•
Chlorinated Phosphates
•
Antimony Trioxide
•
Others
• Non
Halogenated Flame Retardants
• Aluminum Hydroxide
•
Magnesium Dihydroxide
•
Phosphorous Based
•
Others
Application Outlook
(Volume, Kilo Tons, Revenue; USD Million, 2014 - 2025)
• Polyolefins
• Epoxy resins
• Unsaturated
Polyester
• Polyvinyl
Chloride
• Engineering
Thermoplastics
• Rubber
• Styrenics
• Others
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Asia Pacific was the major regional segment and accounted
for over 45% of total volume in 2015. High demand from countries such as China,
Japan, and India are benefitting the market growth. The upcoming electrical
& electronics manufacturing hubs coupled with a positive outlook for construction
sector is expected to drive the flame retardant market over the forecast
period.
The growing pressure of regulatory agencies such as REACH
and European Flame Retardant Association (EFRA) is driving the demand for these
products in Europe. Europe consumed over 600 kilotons in 2015. The presence of
a large number of end-use industries is expected to boost market growth in this
region.
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