The Global Flame Retardants Market is projected exhibit a CAGR of around 6% to reach a value of USD 15.5 billion by 2027.
Flame retardants are chemicals, which are added to manufactured materials, that inhibit or delay the spread of a fire. They are designed to minimize the risk of catching fire, even with a small heat source such as a cigarette, candle, or an electrical fault. Government authorities across the globe have various stringent regulations and safety standards for fire protection. These regulations have promoted the use of flame retardant materials, thereby driving the overall growth. Aggressive attempts of manufacturers to avoid mishaps caused due to the fire outbreak is propelling the product demand.
Flame Retardants Market: Drivers & Challenges
Market Drivers:
Rapid infrastructural development across the globe is expected to result in the number of construction activities. The use of flame retardants in the construction industry is essential to meet fire safety standards and codes. Apart from this, these are used on foam, upholstery, and carpets, which are the major part of the building & construction industry.
Flame retardants are used as a protective coating for cables and electrical wiring and as insulation material.
Wide range of polymers such as polypropylene, polyethylene, polyvinyl chloride, acrylonitrile butadiene styrene, among many others finds exclusive applications in the transportation industry. The shift towards the use of lightweight materials in line with the increased fuel efficiency and lower CO2 emissions. These polymers are prone to catch fire, which might cause a fatal disaster.
Moreover, the rapid innovation in electronics for the automotive industry is likely to fuel the use of polymers, thereby, driving the demand for flame retardants.
Market Restraint:
Flame retardant chemicals can find their way into the environment during manufacturing and can leak from products. These retardant chemicals are also released into the environment through e-waste or the uncontrolled burning and dismantling of electronic and electric waste. If exposed or inhaled, these may cause harmful effects in humans and animals such as the endocrine and thyroid disruption, reproductive toxicity, cancer, neurologic dysfunction, and adverse effects on fetal and child development.
Thus, hazardous health effects by inhalation and exposure of flame retardant chemical is likely to hamper the market growth.
The report on the flame retardants market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) Volume (Kilotons) |
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Segments Included |
Type, Resin, and End-users |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
Key Companies Covered
For the scope of the report, In-depth segmentation is offered by Forencis Research
Flame Retardants Market, by Membrane Type
Flame Retardants Market, by Resin
Flame Retardants Market, by End User
Flame Retardants Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
