The global Flame Retardant market size is expected to be worth around US$ 20.9 billion by 2030, according to a new report by Vision Research Reports.
The global Flame Retardant market size was valued at US$ 8.46 billion in 2020 and is anticipated to grow at a CAGR of 9.0% during forecast period 2021 to 2030.
|Product, Application, End use|
|Clariant; LANXESS; Abermarle Corp.; BASF SE; ICL; DuPont; DSM|
The demand for flame retardants is anticipated to be driven by the growing usage of fire-resistant products in various end-use industries, such as electrical & electronics, transportation, construction, and others. These industries are increasingly using flame retardant-based materials to meet the fire safety and prevention regulations.
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.
By Product Analysis
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.
Antimony trioxide when combined with hydromagnesite fillers offers advantageous flame retardant properties. However, the environmental effects of antimony trioxide are expected to propel the demand for environmentally friendly and safer alternatives, such as non-halogenated flame retardants, in the future.
Many of our daily objects incorporating engineered thermoplastic materials, such as textiles, household appliances, automobiles, and airplanes, are now being intensively examined for their flammability.
By Application Analysis
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.
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.
By End-use Analysis
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.
By Regional Analysis
Asia Pacific led the global market with a revenue share of more than 55.6% in 2020 and is anticipated to grow at the fastest CAGR over the forecast period of 2021 to 2030.
North America includes the rising demand for electrical components in numerous applications, such as power cables, wiring, and connectors, mainly used in building, transportation, and electronic devices. The production facilities in Asia Pacific account for a large share of the product market. The market is led by China and India.
The Flame Retardant market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Flame Retardant market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Flame Retardant market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Flame Retardant market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Flame Retardant market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Flame Retardant capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Flame Retardant by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Flame Retardant market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Flame Retardant market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Flame Retardant market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Flame Retardant industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Flame Retardant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Flame Retardant market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Flame Retardant market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Flame Retardant market. These factors have benefited the growth of the global market for Flame Retardant. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Flame Retardant. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Flame Retardant are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are: