DUBLIN, July 14, 2021 /PRNewswire/ -- The "Flame Retardant Chemicals Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Flame Retardant Chemical Market was estimated to grow at a compound annual growth rate of over 5% for the forecasted period. The increased demand for flame retardant products is mainly due to stringent fire safety regulations. This report examines the quantitative aspects of the Flame Retardant Chemical Market, as well as its key drivers, challenges, growth potential, and future prospects.
Flame Retardant Chemicals Market: Overview
To reduce the flammability of consumer goods such as furniture, electronic devices, and clothing, flame retardant chemicals are added. The presence of an ignition source activates flame retardants, which are designed to prevent or slow the spread of ignition through a variety of physical and chemical means. They can be introduced as a copolymer during the polymerization process, afterwards added to the polymer during the molding or extrusion process, or applied as a topical finish (especially for textiles). Inert gases or compounds with endothermic and thermal resistance qualities are used to make flame retardants. Furthermore, the choice of a specific chemical is dependent on the material to which it is to be added, because the chemical's constituent elements react differently with fire. In 2019, more than 2 million tones of flame retardants were processed globally.
Increasing New Construction Projects Boosting the Market Growth
On the basis of end-user, construction and building dominated the market owing to increased construction activity around the world. The entire value of new construction put in place in the United States was over USD 1365 billion in 2019, is expected to illustrate a growth rate of roughly 4.5%, further increasing the demand for flame retardant chemicals. Governments all over the world are establishing higher safety standards for smoke and flammability in various products. Due to increasing development activity in developing countries, the construction industry will probably emerge as one of the main consumers of flame retardant chemicals.
The global flame retardant chemicals market is also being propelled ahead by increased demand from the transportation and auto industries. In the approaching years, the demand from the home furnishing business is also predicted to increase. Other application sectors, such as electronics and wires and cables, are expected to grow steadily in the near future. The flame retardants act in two respects: they either prevent a fire from beginning or dramatically slow it down after it has started. They are used in plastics and other materials, and they have no effect on the raw material's qualities.
Adverse Impact of Covid-19 Framed a Major Set Back
In 2020, COVID-19 adversely affected the market. Because of the pandemic scenario, during the lockdown imposed by government construction and automotive works were temporarily stopped; thereby reducing the demand for flame retardants. The construction industry is, however, rapidly recovering and is expected to increase over the next several years, boosting requirements for the flammable chemical market. In addition to covid-19, rising environmental and health concerns, high pricing of flame retardant products, and rising concerns about harmful content hinder the market's expansion.
China to Be the Single Largest Market
Flame Retardant Chemical Market was dominated by Asia-Pacific for the year 2020. China alone accounts for nearly a quarter of worldwide flame retardant demand. China's high demand is fueled by the country's growing chemical and automobile industries. India is also anticipated to grow its market share in the global market as a result of increased foreign investment. In North America, on the other hand, the market will grow significantly in the coming years, because fire safety in all end products is mandatorily regulated by strict regulations. In addition, due to the growing use of these products by the automotive industry, the Europe market will show significant growth in the next few years.
The key players in the industry include Albemarle Corporation, BASF SE, Huber Engineered Materials (HEM), The DOW Chemical Company, Chemtura Corporation, Lanxess AG, NabaltecAG, ICL (Israel Chemicals Ltd.), Ciba specialty chemicals, AkzoNobel. To achieve a significant competitive advantage in this market, major players are investing in the creation of revolutionary flame-retarded products. To compete for the market's top spot, the other firms are developing halogen-free flame retardants.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.
Report Scope by Segments
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Flame Retardant Chemicals Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Current Scenario: New Product Launches, Increase in Animal Free Testing
3.3. Drivers
3.3.1. Regulations for fire safety are becoming more stringent
3.3.2. End-use industry growth to stimulate the flame retardant chemicals market
3.4. Challenges
3.4.1. Health and Environmental Issues Limiting the Spread of Conventional Flame Retardants
3.4.2. Hydroxides are unsuitable for high-temperature applications.
3.5. Opportunities
3.6. Attractive Investment Proposition, by Geography, 2020
3.7. Competitive Landscape (Key Players)
3.7.1. Mergers and Acquisition Analysis
3.7.2. Agreements, Collaborations and Partnership
3.7.3. New Product Launches
Chapter 4. Flame Retardant Chemicals Market, By Product, 2019 - 2029 (US$ Mn)
4.1. Overview
4.2. Aluminum Trihydroxide (ATH)
4.3. Brominated Compounds
4.4. Chlorinated Compounds
4.5. Organophosphorus
4.6. Antimony Compounds (ATO)
4.7. Others
Chapter 5. Flame Retardant Chemicals Market, By Application, 2019 - 2029 (US$ Mn)
5.1. Overview
5.2. Polyolefin
5.3. Epoxy
5.4. PVC
5.5. Polyamide
5.6. Others
Chapter 6. Flame Retardant Chemicals Market, By End-Users, 2019 - 2029 (US$ Mn)
6.1. Overview
6.2. Building and Construction
6.3. Electronics and Appliances
6.4. Automotive and Transportation
6.5. Wires and Cables
6.6. Textiles
6.7. Others
Chapter 7. Flame Retardant Chemicals Market, By Regional Market Analysis, 2019 - 2029 (US$ Mn)
7.1. Definition & Scope
7.2. Regional Market Share Analysis, 2019 & 2029
7.3. Regional Market Dashboard
7.4. Regional Market Snapshot
7.5. Regional Market Share Analysis 2019 to 2029
7.5.1. North America
7.5.2. Europe
7.5.3.Asia Pacific
7.5.4. Latin America
7.5.5.Middle East and Africa
7.6. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
7.6.1. North America
7.6.2. Europe
7.6.3. Asia Pacific
7.6.4. Latin America
7.6.5. Middle East and Africa
7.7. Market Size, & Forecasts, Revenue and Trend Analysis, 2019 to 2029
Chapter 8. North America Flame Retardant Chemicals Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
8.1. North America Flame Retardant Chemicals Market Analysis, 2019-2029
8.2. North America Flame Retardant Chemicals Market, by product, 2019 - 2029 (US$ Mn)
8.3. North America Flame Retardant Chemicals Market, by application, 2019 - 2029 (US$ Mn)
8.4. North America Flame Retardant Chemicals Market, by end users, 2019 - 2029 (US$ Mn)
8.5. North America Flame Retardant Chemicals Market, by region, 2019 - 2029 (US$ Mn)
8.5.1. U.S.
8.5.2. Canada
Chapter 9. Latin America Flame Retardant Chemicals Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
9.1. Latin America Flame Retardant Chemicals Market Analysis, 2019-2029
9.2. Latin America Flame Retardant Chemicals Market, by product, 2019 - 2029 (US$ Mn)
9.3. Latin America Flame Retardant Chemicals Market, by application, 2019 - 2029 (US$ Mn)
9.4. Latin America Flame Retardant Chemicals Market, by end users, 2019 - 2029 (US$ Mn)
9.5. Latin America Flame Retardant Chemicals Market, by region, 2019 - 2029 (US$ Mn)
9.5.1. Brazil
9.5.2. Argentina
9.5.3. Mexico
Chapter 10. Europe Flame Retardant Chemicals Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
10.1. Europe Flame Retardant Chemicals Market Analysis, 2019-2029
10.2. Europe Flame Retardant Chemicals Market, by product, 2019 - 2029 (US$ Mn)
10.3. Europe Flame Retardant Chemicals Market, by application, 2019 - 2029 (US$ Mn)
10.4. Europe Flame Retardant Chemicals Market, by end users, 2019 - 2029 (US$ Mn)
10.5. Europe Flame Retardant Chemicals Market, by region, 2019 - 2029 (US$ Mn)
10.5.1. United Kingdom
10.5.2. Germany
10.5.3. France
10.5.4. Italy
10.5.5. Spain
10.5.6. Rest of Europe
Chapter 11. Asia Pacific Flame Retardant Chemicals Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
11.1. Asia Pacific Flame Retardant Chemicals Market Analysis, 2019-2029
11.2. Asia Pacific Flame Retardant Chemicals Market, by product, 2019 - 2029 (US$ Mn)
11.3. Asia Pacific Flame Retardant Chemicals Market, by application, 2019 - 2029 (US$ Mn)
11.4. Asia Pacific Flame Retardant Chemicals Market, by end users, 2019 - 2029 (US$ Mn)
11.5. Asia Pacific Flame Retardant Chemicals Market, by region, 2019 - 2029 (US$ Mn)
11.5.1. Japan
11.5.2. China
11.5.3. India
11.5.4. ASEAN
11.5.5. Rest of APAC
Chapter 12. Middle East & Africa (MEA)Flame Retardant Chemicals Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
12.1. Middle East & Africa (MEA) Flame Retardant Chemicals Market Analysis, 2019 - 2029
12.2. Middle East & Africa (MEA) Flame Retardant Chemicals Market, by product, 2019 - 2029 (US$ Mn)
12.3. Middle East & Africa (MEA) Flame Retardant Chemicals Market, by application, 2019 - 2029 (US$ Mn)
12.4. Middle East & Africa (MEA) Flame Retardant Chemicals Market, by end users, 2019 - 2029 (US$ Mn)
12.5. Middle East & Africa (MEA) Flame Retardant Chemicals Market, by region, 2019 - 2029 (US$ Mn)
12.5.1. Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. South Africa
12.5.4. Rest of MEA
Chapter 13. Company Profiles
13.1. Albemarle Corporation
13.1.1. Business Overview
13.1.2. Financial Information (Subject to data availability)
13.1.3. ApplicationPortfolio
13.1.4. Key Developments
13.2. ICL (Israel Chemicals Ltd.)
13.3. BASF SE
13.4. Huber Engineered Materials (HEM)
13.5.The DOW Chemical Company
13.6.Chemtura Corporation
13.7. Lanxess AG
13.8. NabaltecAG
13.9. Ciba specialty chemicals
13.10. AkzoNobel
For more information about this report visit https://www.researchandmarkets.com/r/kyqjl4
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