Global Flame Retardant Masterbatches Market: Key Innovations Witnessed, Banking on Emerging Fire Risk Scenarios
Material flammability has been an issue as old as noted history, and for as long as individuals have suffered from fire damage, they has developed flame retardant solutions. These innovations are spawned by new technologies and improvements, as science continues to progress in discovering and solving such problems. New fire risk scenarios occur when new technological practices gets ahead of fire safety engineering capabilities. For instance, growth in the use of plastics in automobiles for gaining fuel efficiency has resulted in unexpected fire risks in tunnels and car parks. This could lead to catastrophic consequences when a car catches fire. Changing fire risk scenarios are resulting in the development of new flame retardants, with the aim to improve the efficiency, health, and safety profile of these substances.
A recent publication by Transparency Market Research (TMR) on the flame retardant masterbatches market highlights the key aspects pertaining to the industry. Continued efforts towards reducing fire accidents, coupled with developments made in an attempt to increase the efficiency of flame retardant masterbatches is likely to drive the market in the forthcoming years.
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Evolutionary Timeline of the Flame Retardant Masterbatches Market
Although flame retardant solutions used today are an aftermath of modern technological advancements, the concept of treating materials to make them fire-repelling goes back centuries, and can be traced to Roman history. While early innovators focused on treating materials to protect them from fire, 19th century chemists took flame resistance to the next level with key discoveries, including the one made by French chemist Joseph Louis Gay-Lussac, where ammonium phosphates and borax enable materials to absorb greater amounts of heat. Fire retardant solutions used over several years ago are no more utilized at present. Moreover, present day solutions may also be replaced in the near future, as new chemistries or forms emerge.
As the flame retardant industry matured, it faced newer challenges, including concerns regarding the impact of some flame-retardant compounds on the environment as well as human health. Some of these compounds have been banned or voluntarily phased out by manufacturers, in a bid to overcome this challenge. The flame retardant masterbatches market is expected to record ~170,500 kilo tons of sales in 2019. Flame retardant chemistry must be personalized to work in a particular polymer for a particular fire risk regulatory test, resulting in the creation of new flame retardant formulations to address these new tests. Similarly, new formulations with reduced environmental impact are expected to be commercialized in the near future.
Impact of Undercurrents on the Flame Retardant Masterbatches Market
Emerging Fire Risk Scenarios Caused by Flammable Materials
New fire risk scenarios are observed across distinct industries on account of the changing use of materials and products. Particularly in the building and construction industry, fire risks are driven by the use of plastic materials to replace older construction parts, where ease of installation remains a primary design driver over fire safety considerations. Moreover, as more humans move to suburban areas, there could be a rise in losses due to natural fires. Such scenarios are likely to generate growth opportunities for flame retardant masterbatches market players.
Shift towards Polymeric and Reactive Flame Retardants
The industry has witnessed a shift to reactive and polymeric flame retardants to further improve its environmental profile. Reactive flame retardants are molecules that have an active flame retardant chemistry present along with chemical groups that can react with the polymer to bond the flame retardant to the polymer covalently. This has resulted in a shift towards these retardants due to their unique characteristics. Polymeric flame retardants are also gaining traction as they are not easily bioaccumulated and do not easily migrate out of a polymer.
Highly Attractive Sales Opportunities from Automotive Industry
Improving technologies in the automotive industry are bolstering the involvement of electronic devices in automobiles. Increasing applicability of electrical and electronic gadgets fabricated with cables and wires in automobiles are creating potential fire risks. Flame retardant masterbatches are used in these systems to prevent such risks, thereby offering significant sales opportunities for flame retardant masterbatches market players.
Although the market is likely to witness substantial growth throughout the forecast period, health risks associated with the use of flame retardant masterbatches, including birth defects, infertility, reduced IQ, hormone disruptions, and cancer, are likely to impact the adoption of flame retardant masterbatches, thereby impeding market growth.
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Key Strategies in Flame Retardant Masterbatches Market
Establish New Manufacturing Facilities
Several manufacturers are involved in expanding their production capabilities of flame retardant masterbatches in a bid to meet the constantly rising demand. The establishment of newer manufacturing facilities helps companies maximize their market share and expand their consumer base.
Develop Specialty Masterbatch Products
As the demand for flame retardant masterbatches continues to grow across a number of end-use industries, manufacturers concentrate on developing specifically-designed flame retardant masterbatches that address the distinct heat endurance requirements of end users. With the development of specialty flame retardant masterbatches, manufacturers are able to meet both, performance requirements and regulatory standards.
Capitalize on Preference for Halogen-free Variants
Halogen-free flame retardant chemicals are attaining major acceptance among end users on account of their environment-friendliness and recommendations by key regulatory bodies. Regulations pertaining to the restriction on utilizing halogenated flame retardants, including chlorinated and brominated flame retardants, are encouraging various R&D activities to develop halogen-free and non-toxic flame retardant solutions that can resist heat with least impact on the environment. Such scenarios are compelling companies to concentrate their efforts towards these variants.
Assessment of the Competitive Landscape
Compounder Americhem Inc. recently announced the acquisition of India-based Prescient Color Ltd., a wholly-owned subsidiary of Sudarshan Chemical Industries Ltd. This acquisition deal complements Americhem’s position in the global synthetic fiber market and expands its regional extent in a high growth geography.
BASF AG, after two years of extensive research, presented prototypes of its particle foam-based polyethersulfone (PESU), which the company claims to be the world’s first. The foam possesses unique characteristics such as inherent flame retardancy and high-temperature resistance. These characteristics it ideal for complex-shaped components in trains, airplanes, and cars that require superior mechanical properties, along with the ability to withstand high temperatures and to address stringent flame-retardant needs.
The flame retardant masterbatches market is marginally consolidated, as the top five players account for ~ 55% share in the global market. However, there are a large number of players competing in the market that cater to the rest of the ~ 45% share. Key players in the flame retardant masterbatches market are focusing their efforts towards the development of sustainable masterbatches to reduce environmental impact. Investments in expanding manufacturing facilities and research centers to continue innovating in the flame retardant masterbatches market are majorly being observed. Apart from this, key players are also considering business acquisitions and partnerships as vital profit-gaining strategies that allow them to expand their presence in untapped markets.
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Analysts’ Inference of the Market
TMR analysts have a positive perspective of the flame retardant masterbatches market, as the industry continues to witness growth on account of the rising demand. According to the analysts, the flame retardant masterbatches market will continue to exhibit significant growth. Manufacturers are mostly based in Europe and North America, and are well-established in these regions. However, Asia Pacific economies are likely to create major demand, owing to the expanding automotive industry and growing use of plastic in numerous end-use industries. Moreover, in the coming years, the flame retardant mastebatches market is expected to show tremendous growth in Asia Pacific, owing to a rise in the demand from electric vehicle manufacturers. New entrants can develop specific products that are ideal for EVs to strengthen their market position in Asian countries.
Flame Retardant Masterbatches Market Description
- When added to various types of flammable thermoplastics such as PS, PP, PA, and PC, flame retardant masterbatches increase resistance to ignition; reduce flame spread; suppress smoke formation; and prevent polymers from dripping. Flame retardant masterbatches are broadly classified into brominated and halogenated masterbatches.
- Key end-use industries of flame retardant masterbatches include automobile, building & construction, electrical & electronics, consumer products, and packaging. The electrical & electronics segment holds a prominent share of the global flame retardant masterbatches market.
Key Growth Drivers of the Flame Retardant Masterbatches Market
- The global flame retardant masterbatches market is anticipated to expand at a significant pace during the forecast period, primarily owing to the rise in the demand for these masterbatches in the electrical & electronics Flame retardant masterbatches are employed in electrical cables such as communication cables, internal device wiring, power supply cords, and fiber optic cords.
- The implementation of stringent government regulations on fire safety is expected to boost the demand for flame retardant masterbatches. Governments across the world are taking steps to prevent fire accidents. This is anticipated to drive the global flame retardant masterbatches market.
- Rise in the demand for flame retardant masterbatches in building & construction applications due to safety concerns is also estimated to propel the global flame retardant masterbatches market. Flame retardant masterbatches incorporated with plastics are primarily used as building materials. These comply with fire safety regulations.
Key Growth Challenges of the Flame Retardant Masterbatches Market
- Toxicity risks associated with the use of flame retardant masterbatches is a key challenge for the flame retardant masterbatches market. Flame retardant masterbatches are linked with serious health risks such as infertility, birth defects, neurodevelopmental delays, reduced IQ, behavioral problems, hormone disruptions, and cancer.
- Brominated and chlorinated flame retardants commonly found in consumer goods belong to a class of chemicals called semi-volatile organic compounds. They pose environmental concerns. This is another factor adversely affecting the flame retardant masterbatches market.
Lucrative Opportunities in the Global Flame Retardant Masterbatches Market
- The automotive industry offers lucrative opportunities for the flame retardant masterbatches market. The automotive industry is likely to transform significantly post 2020, as most of the vehicles manufactured after 2020 are expected to be electric vehicles. Electric vehicles mostly consist of plastic and are highly flammable, thus, there is high risk of fire.
- Dashboard switches, stereo and audio components, engine controls, automotive power supplies, digital display systems, braking systems, power converters, and navigation systems are some of the electronic devices fabricated where wire and cables are highly used. Flame retardant masterbatches are primarily used in these systems to prevent fires.
Asia Pacific a prominent Flame Retardant Masterbatches Market
- Asia Pacific is a prominent consumer of flame retardant masterbatches in terms of value and volume. China is a key country in terms of production and consumption of flame retardant masterbatches in the region. Major players in the flame retardant masterbatches market such as Dongguan GreenTech Plastics Co., Ltd and DIC Corporation operate in China and Japan.
- After China, Japan and India are prominent consumers of flame retardant masterbatches in Asia Pacific. Increase in the demand for flame retardant masterbatches in building and construction applications is boosting the flame retardant masterbatches market in Japan and India.
Flame Retardant Masterbatches Market: Europe Offers Growth Opportunities
- Europe is another prominent region in terms of production of flame retardant masterbatches. Germany is a highly lucrative country in the flame retardant masterbatches market in Europe.
- Europe is a mature region of the global flame retardant masterbatches market. Several manufacturers and distributors of flame retardant masterbatches operate in the region. LANXESS, a Germany-based company, is a key producer of flame retardant masterbatches in Europe.
- In December 2018, LANXESS invested US$ 223 Mn for expanding its flame retardants additives business. The company significantly strengthened its market position after acquiring Chemtura, a U.S.-based company, in 2017. The company’s brominated flame retardant additives and bromine derivatives have been integrated into Lanxess’ business with phosphorus-based flame retardant additives.
Leading Players in the Flame Retardant Masterbatches Market
Key players operating in the global flame retardant masterbatches market are
- Albemarle Corporation
- BASF SE
- Clariant International AG
- DIC Corporation
- Ampacet Corporation
- Cromex S/A
- Dongguan GreenTech Plastics Co., Ltd
- DOVER CHEMICAL CORPORATION
- FERRO-PLAST Srl
- Polyplast Muller GmbH
TMR’s recent report on the flame retardant masterbatches market provides report audience a holistic market outlook with the help of an extensive analysis of the global market. The TMR study on the flame retardant masterbatches market evaluates the industry with respect to the historical and current market scenario, and provides a forecast for the period of 2019-2027. Report readers gain aid in business decision-making with the help of the findings and exclusive flame retardant masterbatches market insights included in the publication. TMR’s report also provides an assessment of the key flame retardant masterbatches market dynamics that are likely to impact the market in the future. The study also includes a thorough evaluation of the key industry trends and developments made by flame retardant masterbatches market players. The TMR publication is divided in vital sections that allows readers to gain an individual understanding of the flame retardant masterbatches market.
Key Questions Answered in the Report
- How much will the flame retardant masterbatches market value in the coming five years?
- What are key factors that are likely to drive the flame retardant masterbatches growth throughout the forecast period?
- Which type of flame retardant masterbatches would gain major popularity among the end-use industries in 2020?
- What are key developments carried out by flame retardant masterbatches market players?
- Which region is likely to create growth opportunities for the flame retardant masterbatches market?
The first chapter in the study on the flame retardant masterbatches market includes a preface that provides a brief market understanding, including the definition and scope of the market. This chapter showcases the key research objectives that allows readers to gain a concise market outlook. Following this section is the executive summary that sheds light on the flame retardant masterbatches market aspects covered in the report. Following this, the flame retardant masterbatches market report includes a market overview, which provides a glance into the market in terms of key flame retardant masterbatches market dynamics such as drivers, opportunistic avenues, and restraining factors.
The next chapter offers an outlook of the global flame retardant masterbatches market evaluation and forecast in terms of volume and value. Following this overview is the market outlook in terms of the regulatory scenario in different regions around the world. Following this is a detailed segmentation analysis of the flame retardant masterbatches market. Evaluation includes bifurcation on the basis of type, resin, end-use industry, and region. Evaluation of the key segments in the flame retardant masterbatches market, and inclusion of year-on-year growth projection and the basis point share analysis further helps readers identify lucrative avenues.
The TMR report on the flame retardant masterbatches market provides an evaluation of the regional landscape of the market. This geographical assessment helps market players make strategic decisions pertaining to their expansion strategies and investments. Segment-wise and country-level assessment of individual regions helps audiences of the flame retardant masterbatches market study assess the potential of the market. Backed with year-on-year growth projections, and global value and volume share, this section is a significant part of the report on the flame retardant masterbatches market.
TMR’s study on the flame retardant masterbatches market includes a holistic competitive assessment providing details of leading market players. This sections highlights the nature of the flame retardant masterbatches market with the help of the market share held by leading, emerging and new players. The dashboard view of the competitive landscape in the flame retardant masterbatches market report allows readers to understand the strategies implemented by players and their performance in the flame retardant masterbatches market, featuring the focus areas of flame retardant masterbatches market players. The competitive structure of prominent players in the flame retardant masterbatches market is also discussed in the study.
The TMR report on the flame retardant masterbatches market is based on an in-depth assessment of the market, including comprehensive primary and secondary research. Detailed evaluation of the flame retardant masterbatches market in terms of competitive landscape is backed with individual-level analysis of various aspects related to the market. An evaluation of the historical and current market scenario for flame retardant masterbatches, focusing on key market segments, regions, market dynamics, and other qualitative inputs, helps TMR analysts derive at vital predictions. The report offers a forecast analysis for the flame retardant masterbatches market. Report audiences can access the flame retardant masterbatches market study to gain a forecasted market assessment for the period of 2019–2027.
Global Flame Retardant Masterbatches Market: Taxonomy
Alumina Trihydrate (ATH)
Building & Construction
Electrical & Electronics
Middle East & Africa