Market Size of Flame Retardant Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Flame Retardant Chemicals Market Analysis
The flame retardant chemicals market is projected to register a CAGR greater than 4% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the construction industry is recovering fast and is estimated to rise in the coming years, which will stimulate the demand for the flame retardant chemical market.
- Over the short term, increasing infrastructure activities in Asia-Pacific, a rise in safety standards in building construction, and rising consumer electrical and electronic goods manufacturing are expected to drive the market's growth.
- Environmental and health concerns regarding halogenated flame retardants and the non-suitability of hydroxides for high-temperature applications are expected to hinder the market's growth.
- Rising awareness regarding environment-friendly flame retardants and active R&D into non halogenated flame retardants are expected to act as market oppurtunities.
- Asia-Pacific dominates the market across the world due to the high construction activities in the region.
Flame Retardant Chemicals Industry Segmentation
Flame retardant chemicals are compounds added to or otherwise incorporated into compounds to slow the spread of fire or prevent fire, mainly used in building and construction materials, electronics and electrical devices, furnishings, and transportation. The flame retardant chemicals market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into non-halogenated flame retardant chemicals and halogenated flame retardant chemicals. By end-user industry, the market is segmented into electrical and electronics, buildings and construction, transportation, and textiles and furniture. The report also covers the market size of and forecasts for the flame retardant chemicals market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
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Flame Retardant Chemicals Market Size Summary
The flame retardants market is poised for growth, driven by increasing infrastructure activities and heightened safety standards in building construction, particularly in the Asia-Pacific region. This region dominates the global market due to significant construction activities, with China and India leading the charge. The demand for flame retardants is bolstered by the need for fire safety regulations in building materials and products, especially in structural insulation. However, the market faces challenges from environmental and health concerns related to halogenated flame retardants and the limitations of hydroxides in high-temperature applications. Despite these challenges, the market is presented with opportunities through rising awareness of environmentally friendly alternatives and ongoing research and development into non-halogenated flame retardants.
The market landscape is characterized by a fragmented structure, with major players like ICL Group, LANXESS, BASF SE, Albemarle Corporation, and Jiangsu Yoke Technology Co. Ltd. holding significant shares. These companies are actively innovating and expanding their product offerings to meet the evolving demands of various industries. For instance, LANXESS introduced new phosphorous-based flame retardants with enhanced thermal and mechanical stability, while BASF SE has strengthened its portfolio through strategic partnerships and new product launches aimed at the electronic industry. The ongoing developments in the aerospace and automotive sectors, particularly in China, India, and Malaysia, are expected to further drive the demand for flame retardants, supporting the market's growth trajectory over the forecast period.
Flame Retardant Chemicals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Infrastructure Activities in Asia-Pacific
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1.1.2 Rise in Safety Standards in Building Construction
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1.1.3 Rising Consumer Electrical and Electronic Goods Manufacturing
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1.2 Restraints
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1.2.1 Environmental and Health Concerns Regarding Brominated and Halogenated Flame Retardants
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Regulatory Policy Analysis
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1.6 Raw Material Analysis
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1.7 Technical Snapshot
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Non-halogenated Flame Retardant Chemicals
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2.1.1.1 Inorganic
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2.1.1.1.1 Aluminum Hydroxide
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2.1.1.1.2 Magnesium Hydroxide
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2.1.1.1.3 Boron Compounds
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2.1.1.2 Phosphorus
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2.1.1.3 Nitrogen
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2.1.1.4 Other Product Types
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2.1.2 Halogenated Flame Retardants Chemicals
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2.1.2.1 Brominated Compounds
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2.1.2.2 Chlorinated Compounds
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2.2 End-user Industry
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2.2.1 Electrical and Electronics
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2.2.2 Buildings and Construction
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2.2.3 Transportation
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2.2.4 Textiles and Furniture
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Australia and New Zealand
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.2.4 Rest of North America
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Qatar
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2.3.5.4 Rest of Middle East & Africa
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Flame Retardant Chemicals Market Size FAQs
What is the current Flame Retardant Chemicals Market size?
The Flame Retardant Chemicals Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Flame Retardant Chemicals Market?
ICL Group, LANXESS, Albemarle Corporation, BASF SE and Jiangsu Yoke Technology Co. Ltd are the major companies operating in the Flame Retardant Chemicals Market.
