Flame Retardants Market Report 2023, Industry Trends, Size and Forecast Till 2028

The latest report by IMARC Group, titled “Flame Retardants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global flame retardants market report. The global market size reached US$ 9.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.

Flame retardants encompass a wide range of chemicals, including chlorine, bromine, aluminum, antimony oxides, molybdenum compounds, zinc, magnesium oxides, organic phosphate esters, halogenated phosphorus, and inorganic phosphorus-containing salts. They are derived from organophosphates and various active compounds, such as nitrogen, graphene, graphite, and silicon-based materials. They enhance the safety of wooden furniture by providing fire protection. When applied to the surface of furniture, they hinder the spread of fire and reduce the amount of heat it generates. This delay in the fire’s progression allows occupants of buildings and homes more time to escape and helps prevent loss of lives and property damage resulting from fires. They play a crucial role in manufacturing automobile components like bumpers, overhead compartments, and seat covers. Their primary function is to prevent, halt, or slow down the combustion process of flammable materials such as wood, plastic, paper, and rubber. Furthermore, flame retardants are employed in fireproofing various furnishing products like carpets, curtains, and upholstery, adding an extra layer of safety and protection. At present, flame retardants find extensive applications in producing electronic devices, including televisions (TVs), smartphones, laptops, and computers across the globe.

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Flame Retardants Market Trends and Drivers:

The global flame retardants market is primarily driven by the rising product utilization across various industrial sectors to mitigate the spread of fires and minimize property damage. Moreover, the rapid expansion of the consumer electronics industry, wherein manufacturers are extensively incorporating flame retardants in electric wire insulations, circuit boards, electronic casings, wires, and cable systems to prevent fire incidents, is positively influencing the market growth. Apart from this, the rising need for effective fire management solutions in residential buildings and public spaces has augmented the demand for flame retardants. In addition, the increasing use of flammable materials such as plastics, foams, and composites in the construction and manufacturing sectors has accelerated the product adoption rate. Besides this, the emergence of safer alternatives, such as non-halogenated flame retardants based on phosphorous, bromine, and chlorine, that are sustainable and pose minimal risks to human health upon exposure, is propelling the market growth. Additionally, the increasing demand for flame retardants owing to the rising explosion-related accidents in offices, industries, and public spaces has catalyzed market growth. Furthermore, the surging adoption of fire retardants for coating industrial machinery and electrical devices to minimize fire-related risks and enhance the safety of employees and workers is contributing to market growth. Other factors, including ongoing research and development (R&D) activities, the rapid expansion of the chemical industry, and the implementation of favorable government initiatives to improve fire safety standards and regulations, are also anticipated to drive the market further.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Alumina Trihydrate
Brominated Flame Retardants
Antimony Trioxide
Phosphorus Flame Retardants
Others

Breakup by Application:

Unsaturated Polyester Resins
Epoxy Resins
PVC
Rubber
Polyolefins
Others

Breakup by End Use Industry:

Construction
Wires and Cables
Automotive and Transportation
Electrical and Electronics
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Competitors Landscape with Key Players:

Almatis GmbH
BASF SE
Borealis GmbH (OMV Aktiengesellschaft)
Budenheim Iberica S.L.U
Campine NV
Clariant AG
Dover Chemical Corporation (ICC Industries Inc.)
Dow Inc.
ICL Group Ltd
Lanxess AG
Otsuka Chemical Co. Ltd.
RTP Company (Miller Waste Mills Inc.)

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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