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Flame Retardants market Innovations
Increased R&D activities, and the growing application of flame retardants in the construction and Electronics industries drive market growth.
WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire / -- Allied Market Research recently published a report titled,“Flame Retardants Market by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorus Flame Retardants, and Others), Application (Unsaturated Polyester Resins, Epoxy Resins, Polyvinyl Chloride (PVC), Rubber, and Polyolefins), and End-use Industry (Construction, Automotive & Transportation, and Electronics): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global flame retardants market was valued at $7.4 billion in 2020 and is projected to reach $14.0 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.
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Key Market Insights
Drivers, Restraints, and Opportunities
- Drivers: Technological advancements, increased R&D activities, and the growing application of flame retardants in the construction and electronics industries drive market growth.
- Restraints: Concerns about environmental and health risks associated with flame retardants hinder growth.
- Opportunities: Regulatory mandates on fire safety standards present new opportunities for market expansion.
Market Segmentation Analysis
By Type
- Antimony Trioxide: This segment dominated the market in 2020 with nearly one-third share, driven by its excellent flame-retardant properties when combined with halogenated compounds. It is widely used across sectors such as construction, oil & gas, and chemical manufacturing.
- Alumina Trihydrate: Expected to grow at the highest CAGR of 6.8% from 2021 to 2030, this segment benefits from its high loading capacity, smoke-suppressing properties, and adoption in various end-use industries.
By End-Use Industry
- Electronics: Contributing nearly 40% of the market share in 2020, this segment is poised to grow at the fastest CAGR of 7.0% during the forecast period. Growth is attributed to advancements in technology and increased use of flame retardants to ensure environmental and consumer safety.
- Other Industries: The construction and automotive & transportation sectors also contribute significantly to market growth.
By Region
- Asia-Pacific: Leading the market in 2020 with nearly 40% share, Asia-Pacific is expected to register the fastest CAGR of 7.4% during the forecast period. The demand for flame retardants in industries like construction, automotive, electrical & electronics, and textiles drives regional growth.
- Other Regions: Europe and North America follow Asia-Pacific in market contribution.
Key Market Players
- Albemarle Corporation
- BASF SE
- DOW
- Eastman Chemical Company
- Hangzhou Lingrui Chemical Co. Ltd.
- Hongbaoli Group Co. Ltd.
- Huntsman International LLC
- Lanxess
- Muby Chemicals
- Sasol
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.