Flame retardant chemicals are halogen, nitrogen and phosphorous containing compounds which are added to plastics and rubber in order to reduce the magnitude of burning and inhibit flames. They are increasingly being used in construction of buildings, textiles, and automobile and electronic parts manufacturing.
These additives do not alter the property of the parent material but delays if not completely stop the burning of the material. With the growing safety regulations with regards to fire and the extensive use of flammable materials, these chemicals have gained high importance over the past few years.
These chemicals are extensively used as additives to plastics and rubber. This growth is mainly driven by the increasing demand from end user industries like construction, electrical, and electronic manufacturing. In terms of geography, Asia Pacific is the largest market in terms of consumption of these chemicals and is expected to have the highest growth in production along with consumption over the next five years. Due to their extensive use and superior quality, flame retardant chemicals are the fastest growing segment of the plastic industry.
The flame retardant chemicals market based on product type can be segmented into chlorinated, brominated, antimony oxide, and phosphorous, among others. Based on end user application, the market is segregated based on use in building and construction, automobiles, wire and cables, electric, electronics and textiles.
The market will show considerable growth over the next five years primarily due to the growth in the construction industry coupled with the growing demand from the Asia Pacific region. In addition, the growing safety regulations with respect to fire have increased the demand for these chemicals. There has also been a steady growth in the demand from other application sectors, especially wire and cables and electronics. However, increasing stringent environmental regulations coupled with the high cost of flame retardant chemicals acts as a major inhibitor for the market.
Major opportunities in the market are dependent on the development of better quality flame retardant chemicals. The use of bio based flame retardant chemicals and at a comparatively lower cost could boost the market in the near future. The major players in the flame retardant chemicals market include AkzoNobel N.V, BASF SE, Clariant AG, Albemarle Corp, Dow Chemical Company, DuPont, and Lanxess AG.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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