Brand Story
14 Nov 2022, 20:45 GMT+10
The global flame retardant chemicals market stood at US$ 7.46 Bn in the year 2020 and is expected to witness a CAGR of 7.1% between 2022 and 2032.
The end-use verticals like transportation, electrical & electronics, construction, and likewise are increasingly incorporating flame retardant chemicals in their daily operations to adhere to fire prevention and safety regulations. In homes and offices, flame retardant chemicals do eliminate risk of fire from consumer and electrical goods. They also perform the function of safeguarding modernized materials and equipment like building insulation, circuit boards, engineering thermoplastics, cables, and likewise.
However, halogenated flame retardants like chlorinated, brominated, and others are not preferred due to the health hazards caused by them. It needs to be known that some compounds like HBCD (Hexabromocyclododecane) are banned in Canada, Japan, and the EU. This has, in turn, called for developing safer alternatives like bromine-, phosphorus-, and chlorine-based non-halogenated flame retardant chemicals. Along these lines, GYC Group has started offering a spectrum of products free of halogens.
The manufacturers are looking for comparatively less toxic products for making alterations in product composition like aluminum trihydroxide. The demand would be arising from the applications like epoxy resins, polyolefins, PVC (polyvinyl chloride), rubber, engineering thermoplastics, and likewise.
Non-halogenated flame retardant chemicals hold more than 50% of the market share as of the year 2020. This could be reasoned with growing demand for less toxic and environmentally-friendly flame retardants. Combination of brominated organic compounds and antimony trioxide is generally used in the form of flame retardants in the mounding compounds. They are known for having negligible effects on the environment.
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The same antimony trioxide, on combining with hydromagnesite fillers, renders benefits, but adverse effects of antimony trioxide on the environment are expected to restrain the usage of antimony trioxide as flame retardant chemicals in the near future.
Polyolefins are holding the largest market share (more than 20%) due to their increasing applications in plastics in various applications. The polymer could thus be prevented from dripping, and smoke formation could be subverted. Products needing flame retardant chemicals in the polyolefin fabrics include mattress covers, construction fabrics, carpet packing, components in planes and trains, siding and roofing, automotive fabrics, and likewise. Future Market Insights has walked through these facts with insights in its latest market study entitled 'Flame Retardant Chemicals Market'.
Key Takeaways from Flame Retardant Chemicals Market
Competitive Landscape
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"Flame retardant chemicals, on adding to combustible materials like plastics, textiles, and coatings, prevent fire or slow down as far as growth is concerned, which is driving the market for flame retardant chemicals", says an analyst from Future Market Insights.
How does the Flame Retardant Chemicals Market go?
With inevitability of fire safety requirements all over, the flame retardant chemicals market is expected to grow inadvertently in the near future.
Key Segments
By Type
By Application
By Region
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
to be continued...!
Have a Look at Related Research Reports of Chemicals & Materials
Chloromethane Market Sales: Global chloromethane demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032
Aerospace Maintenance Chemical Market Demand: The global aerospace maintenance chemical market is anticipated to move steadily, registering a nominal CAGR of 3.4% during the forecast period 2022-2032.
Iron Powder Market Growth: The iron powder market is likely to register a CAGR of 5.2% during the forecast period and is anticipated to reach an iron powder market share of US$ 10265.75 Million in 2032, from US$ 6183.49 Million in 2022.
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The post Flame Retardant Chemicals Market to Display Impressive Growth of 7.1% CAGR, Major Players are Clariant, BASF, Chemtura, AkzoNobel appeared first on Future Market Insights.
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