Flame Retardant Market Players: Clariant, LANXESS, BASF SE, And ICL
Flame Retardant Industry Overview
The global flame retardant market size is anticipated to reach USD 12.99 billion by 2028, registering a CAGR of 8.0% over the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to the growing application scope in key end-use industries including automotive, electrical & electronics, transportation, construction, and others. In addition, increasing demand for these products in applications, such as polyolefin, Engineering Thermoplastics (ETP), epoxy resins, Polyvinyl Chloride (PVC), and rubber, coupled with the presence of favorable government regulations, especially in Asia Pacific, North, America, and Europe, will drive the market in the coming years.
Halogenated products, including brominated, chlorinated, phosphate-based, and antimony trioxide-based, are widely used in various applications, such as printed wiring boards, wires & cables, floorings, flexible polyurethane foams, polyolefins, polyamides, wall sheeting, refrigeration, and others. The demand for environmentally friendly products, such as non-halogenated flame retardants, is growing at a rapid pace. The Asia Pacific, North America, and Europe regions have emerged as the largest consumers owing to the presence of stringent environmental sustainability policies and the rising awareness about fire safety among consumers.
Phosphorus-based flame retardants, both chlorinated and non-halogenated, are extensively used in flexible and rigid polyurethane foams and the demand is anticipated to augment in the coming years. They have wide application prospects, and it is a vital part of inorganic flame retardants.
These products can be divided into inorganic and organic phosphorous products. Asia Pacific holds a substantially high share owing to the increasing product penetration in the end-use industries including automotive, electrical & electronics, construction, and others. The markets in Asia Pacific are witnessing high production, especially in countries, such as India, China, Japan, and South Korea, owing to the growing emphasis on eco-labeled fire resistance products.
The COVID-19 pandemic has highly impacted the growth of the automotive and construction, sectors. The halting of manufacturing activities, slowing down of construction projects, and ongoing labor shortages owing to travel restrictions are expected to affect the demand for the products and their derivatives in construction applications over the forecast period. The global market is highly competitive due to the presence of a large number of multinationals that are engaged in constant R&D activities. Companies, such as BASF SE, Clariant, DuPont, DSM, Albemarle Corp., and LANXESS have a global presence and dominate the market due to a wide range of products for each application market. A majority of these companies have integrated their business operations across the value chain.
Flame Retardant Market Segmentation
Grand View Research has segmented the global flame retardants market on the basis of product, application, end use, and region:
Based on the Product Insights, the market is segmented into Halogenated, and Non-Halogenated.
- The non-halogenated product segment dominated the market with a revenue share of more than 59% in 2020. This is attributed to the rising demand for environmentally friendly and less toxic flame retardants. A combination of antimony trioxide and brominated organic compounds is commonly used as flame retardants in mounding compounds, and they are known to have deleterious environmental effects.
- The application of flame retardants is expected to increase as it plays a vital role in reducing the general risk of fire associated with the use of highly combustible feedstock in products, such as textiles, clothing, composites, and plastics.
Based on the Application Insights, the market is segmented into Polyolefins, Epoxy Resins, UPE, PVC, ETP, Rubber, Styrenics, and Others.
- The polyolefins application segment dominated the market with a revenue share of 26.13% in 2020 owing to the growing use of polyolefins as plastics in numerous applications. The product is added to polyolefins to reduce the spread of flame, prevent the polymer from dripping, and suppress smoke formation. Construction fabrics, mattress covers, roofing and siding, components in trains and planes, carpet backing, automotive fabrics, and others are a few examples of products that require flame retardants in polyolefin fabrics.
- Polyvinyl chloride is the most widely used polymer, mainly in communication and electrical cables in insulation and domestic applications in doors, gutters, house sidings, and window frames. It has a high level of resistance to combustion. Although, PVC is not considered to be safe owing to smoke and toxic gases, such as benzene, chlorine compounds, and other aromatics.
Based on the End-use Insights, the market is segmented into Construction, Transportation, Electrical & Electronics, and Others.
- The electrical & electronics end-use segment dominated the market with a revenue share of 38.15% in 2020. Its high share is attributed to an increased usage of the product in the plastic casing of electric products for consumer safety and to reduce the risk of fire.
- The rapidly developing transportation industry and the need to address fire safety in the automobile industry are expected to boost the product demand. The rising environmental concerns are expected to propel the demand for halogen-free flame retardant products across various industries. Manufacturers are developing a wide range of products with different chemical compositions.
Flame Retardants Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key companies are constantly undertaking new initiatives to develop innovative products as an alternative to halogen-based flame retardants in an attempt to strengthen their position in the global market. The rising demand for halogen-free products is attracting new manufacturers to the market. The existing companies are entering into the manufacturing industry to gain significant market share against their competitors. An extensive product portfolio enables the manufacturers to meet the rising demand from new and existing customers. Some prominent players in the global flame retardant market include:
- Clariant
- LANXESS
- BASF SE
- ICL
- Abermarle Corp.
- DuPont
- DSM
Order a free sample PDF of the Flame Retardants Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment