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The flame retardants market size is projected to reach US$ 9.56 billion by 2031 from US$ 6.44 billion in 2023. The market is expected to register a CAGR of 5.1% during 2023–2031. Development in green materials and the surge in the adoption of green flame retardants are likely to set trends in the market during the forecast period.
Flame Retardants Market Analysis
Flame retardants are highly utilized in building insulation foams as these foams are flammable and their application and use in buildings is strictly controlled through regulations and flammability requirements. In the automotive industry, flame retardants are used for the fabrication of plastic automotive parts. Emerging economies in Asia Pacific and North America offer significant growth opportunities due to rapid industrialization and the potential growth of end-use industries. The growing construction industry, coupled with government support in infrastructure development, is expected to favor the market growth.
Flame Retardants Market Overview
Flame retardants are chemicals applied to materials to prevent burning or slow down the spread of fire by suppressing the chemical reaction in the flame or by forming a protective layer on the surface of a material. The diverse applications of flame retardants across industries, such as construction, electronics, automotive, textile, and furniture, amplify the overall demand. The flame retardants market offers a variety of products, including halogenated and non-halogenated options. The advancement in flame retardant technologies is expected to create lucrative opportunities for market progression in the coming decade. The requirements of these industries shape the production priorities and innovation efforts of flame retardant manufacturers. Moreover, end-use industries significantly influence the development and customization of flame retardants. They work closely with manufacturers to convey their specific needs and performance criteria, which can include factors such as thermal stability, mechanical properties, environmental impact, and cost-effectiveness.
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Flame Retardants Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Flame Retardants Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Flame Retardants Market Drivers and Opportunities
Rapid Growth of Construction Industry to Favor Market
As urbanization and infrastructure development surge, the construction sector will require a variety of materials, such as insulation, wiring, and furnishings, to meet the stringent fire safety standards. Flame retardants comply with safety regulations, thereby reducing the risk of fires in residential, commercial, and industrial buildings. The heightened focus on fire safety in construction projects amplifies the necessity for flame-retardant products, directly boosting their market demand. The rising government investments in high-tech infrastructure are among the major factors augmenting the global flame retardants market share.
Advancements in Flame Retardants Technologies
Advancements in flame retardant technologies are poised to provide significant growth opportunities for the market by addressing safety concerns and meeting stringent regulatory standards. In addition, nanomaterials offer significant improvements in fire resistance and safety. Incorporating nanoparticles such as nanoclays, carbon nanotubes, and graphene into traditional flame retardant formulations can enhance the material's ability to withstand high temperatures and prevent the spread of flames. These advanced nanomaterials can create a protective barrier when exposed to heat, thereby improving the overall effectiveness of flame retardants without the need for higher loading levels of potentially harmful chemicals. In addition, the benefits of nanomaterials extend beyond just enhancing fire resistance.
Flame Retardants Market Report Segmentation Analysis
Key segments that contributed to the derivation of the flame retardants market analysis are type and end-use industry.
- Based on type, the flame retardants market is divided into halogen-free and halogenated. Bromine-based and chlorine-based are two prominent subsegments under the halogenated segment. The halogen-free segment held a larger market share in 2023.
- In terms of end-use industry, the market is segmented into building and construction, automotive and transportation, electrical and electronics, textiles, and others. The building and construction segment held a significant share of the market in 2023.
Flame Retardants Market Share Analysis by Geography
The geographic scope of the flame retardants market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific has dominated the market. Flame retardants have a broad range of automotive applications, such as interior components for fabrication of self-extinguishing parts. According to the International Organization of Motor Vehicle Manufacturers report, 53.93 million motor vehicles were produced in Asia Pacific in 2023, a rise in production compared to 48.96 million vehicles in 2022. China has emerged as one of the largest electric vehicle markets globally, supported by government policies promoting electric vehicles. Therefore, the rising investments in the automotive industry are accelerating the flame retardants market growth in Asia Pacific.
Semiconductors play a critical role in the Chinese government's agenda to develop its domestic integrated circuit (IC) industry. The government has levied new income tax exemptions for advanced technology process nodes and established import duty exemptions for IC manufacturers. It has also provided US$ 50 billion in funds for electronic chip manufacturing. Therefore, the flourishing electrical and electronics industry is anticipated to further propel the market growth in the region during the forecast period.
Flame Retardants Market Report Scope
Flame Retardants Market News and Recent Developments
The flame retardants market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the flame retardants market are listed below:
- Trinseo introduced groundbreaking flame-retardant plastic grades without using pfas additives during manufacturing process. (Source: Trinseo, Press Release, April 2024)
- Azelis partnered with LANXESS to include polymer additives and phosphorous flame retardants in the US. (Source: Azelis, Press Release, March 2024)
- Clariant inaugurated Daya Bay Exolit OP flame retardant plant. (Source: Clariant AG, Press Release, October 2023)
- Lanxess launched halogen-free, flame-retardant PBT compound for high-voltage connectors. (Source: Lanxess AG, Press Release, June 2022)
Flame Retardants Market Report Coverage and Deliverables
The “Flame Retardants Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Flame retardants market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Flame retardants market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces and SWOT analysis
- Flame retardants market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the flame retardants market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific dominated the flame retardants market in 2023.
Rapid growth in the construction industry and surging demand from the electrical and electronics industry are among the factors accelerating the flame retardants market growth.
The adoption of green flame retardants is likely to set trends in the upcoming years.
Albemarle Corp, BASF SE, Clariant AG, Lanxess AG, Celanese Corp, and Domo Chemicals GmbH are the leading players operating in the flame retardants market.
The flame retardants market value is estimated to be US$ 9.56 billion by 2031.
The flame retardants market is expected to register a CAGR of 5.1% during 2023–2031.
The List of Companies - Flame Retardants Market
- ADEKA CORPORATION
- Albemarle Corp
- Avient Corp
- BASF SE
- J.M. Huber Corporation
- Clariant AG
- RTP Company
- ICL Group Ltd
- Italmatch Chemicals S.p.A
- Lanxess AG
- Alpha Calcit Füllstoff GmbH & Co. KG
- AIR WATER INC
- Konoshima Chemical Co., Ltd
- THOR Group Ltd
- Nabaltec AG
- Georg Nordmann
- Marubeni Corp
- Celanese Corp
- Domo Chemicals GmbH
- Greenchemicals S.r.l
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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