Flame Retardant Market Size, Growth Trends and Forecast

The Halogen-Free Flame Retardants Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Halogen-Free Flame Retardants Market:

https://www.thebusinessresearchcompany.com/report/halogen-free-flame-retardants-global-market-report

According to The Business Research Company’s Halogen-Free Flame Retardants Global Market Report 2024, The halogen-free flame retardants market size has grown rapidly in recent years. It will grow from $5.25 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to environmental concerns, safety standards, consumer preferences, growth in construction industry, awareness in textile industry, research and development initiatives..

The halogen-free flame retardants market size is expected to see strong growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing stringency of regulations, rising focus on circular economy, growth in electrical and electronics (e&e) recycling, urbanization and infrastructure development, shift towards sustainable packaging, health and safety awareness.. Major trends in the forecast period include increasing focus on safety in construction materials, rising demand in electronics and electrical applications, innovation in product formulations, research and development in bio-based flame retardants, collaborations and partnerships..

Growing health concerns regarding the use of halogen-based flame retardants because of the polluted environment are expected to propel the growth of the halogen-free flame retardants market going forward. Several regulations are being introduced for the growing concerns regarding human health through environmental pollution, which had resulted in the ban of several halogen-based flame retardants across the world, and as a result, increases the demand for the halogen-free flame retardants market. For example, in February 2020, the European Union, a Europe-based supranational political and economic union (EU), approved Regulation (EU) 2019/2021, a set of rules. As of March 1, 2021, halogenated flame retardants were also prohibited from being used in plastic enclosures and stands for electronic displays. Therefore, growing health concerns regarding the use of halogen-based flame retardants because of the polluted environment drive the growth of the halogen-free flame retardants market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=8067&type=smp

The halogen-free flame retardants market covered in this report is segmented –

1) By Type: Aluminum Hydroxide, Organophosphorous, Other Types

2) By Application: Polyolefins, Epoxy Resin, Unsaturated Polyester, Polyvinyl Chloride, Rubber, Engineered Thermoplastic, Styrenics, Other Applications

3) By End User: Textile, Transportation, Wires And Cables, Electrical And Electronics, Building And Construction

Technological advancement is a key trend in the halogen-free flame retardants market. Major companies in the halogen-free flame retardants market are advancing in their new technologies and research and developments halogen-free flame retardants market. For instance, in July 2022, BASF a Germany – based manufacturer and chemical producer, and THOR GmbH, a Germany-based manufacturer of chemical products, combined their expertise to introduce non -halogenated flame retardance additives- a vital component for plastic components or composites that are frequently used in transportation, construction, domestic, and industrial applications since unintentional exposure to heat and flame can cause catastrophic damage and put lives in danger. For polyolefins, which are traditionally a difficult flame resistance application, the combined flame-retardant additives offer customers and end users with the advanced benefits of BASF’s halogen-free flame retardant Flamestab and THOR’s phosphonates AFLAMMIT technology.

The halogen-free flame retardants market report table of contents includes: