What is the Market Size and Growth Rate of the Global Flame Retardants Market?
The flame retardants market size has seen robust growth in recent years. The market is projected to grow from $8.42 billion in 2024 to $8.95 billion in 2025, at a compound annual growth rate (CAGR) of 6.4%. The growth during the historical period is primarily driven by an increase in consumer goods manufacturing, safety concerns in transportation, awareness of fire hazards, growth in the electronics industry, and stringent fire safety regulations.
The market is anticipated to continue its upward trend, expected to reach $11.84 billion in 2029, at a CAGR of 7.2%. Factors contributing to this growth include rapid urbanization, increasing electronic device usage, demand for environmentally friendly flame retardants, and global efforts to reduce fire incidents. Major trends in the forecast period include advancements in nanotechnology, demand in automotive applications, collaborations for research, development, consumer awareness, and product labeling, use in textiles and upholstery, global expansion and market penetration.
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What are the Key Growth Drivers of the Flame Retardants Market?
The increasing demand for electronic products is a significant driver for the flame retardants market. The rise in electronics demand stems from technological advancements, fast replacement cycles, growing disposable income, and changing consumer preferences. Flame retardants are chemically adhered to the circuit boards of electronics during manufacturing, preventing any chemicals from leaching into the environment or potentially harming users’ health. For instance, according to the India Brand Equity Foundation (IBEF), a 30% year-on-year growth in electronics manufacturing is anticipated between 2020 and 2025, resulting in a rise in output of $163.14 billion. As a result, the increasing demand for electronic products is anticipated to spur the demand for flame retardants.
What are the Major Segments Within the Global Flame Retardants Market?
The flame retardants market covered in this report is segmented by:
1) Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
2) Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics And PET)
3) End User: Construction, Automotive And Transportation, Electronics, Other End-Users (Textiles, Aerospace, And Adhesives)
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Which Companies Are Dominating the Flame Retardants Industry?
Major companies operating in the flame retardants market are BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A., Nabaltec AG, Du Pont de Nemours and Company, Koninklijke DSM NV, Israel Chemicals Limited, Budenheim Chemicals KG, Eastman Chemical Company, Hangzhou Lingrui Chemical Company Limited, Hongbaoli Group Company Limited, Huntsman International LLC, Daihachi Chemical Industry Co. Ltd., DIC Corporation, Dow Chemical Company, Nyacol Nano Technologies Inc., Rinkagaku Kogyo Co. Ltd., RTP Company, Sanwa Chemical Co. Ltd., Shandong Brother Sci. & Tech. Co. Ltd., Tor Minerals International Inc., Tosoh Corporation, UFP Industries Inc., Lubrizol Corporation, Akzo Nobel NV, Clariant International Ltd., Sinopec Shanghai Petrochemical Company Limited.
What Trends are Emerging in the Flame Retardants Market?
Product innovations have emerged as a key trend gaining traction in the flame retardants market. Major companies are focusing on developing innovative products to meet customer demand. For instance, in September 2024, Asahi Kasei Corporation, a Japan-based chemical company, introduced LASTAN flame-retardant nonwoven fabric. This fabric has superior flame resistance, capable of withstanding temperatures up to 1,300 °C with a limiting oxygen index (LOI) of 50 or higher, providing high safety levels in EV battery applications. Its lightweight and flexible design allows for easy processing into complex shapes, making it a superior alternative to traditional materials for effective thermal runaway protection and enhanced durability against particle impacts.
Which Region Dominates the Flame Retardants Market and Which is Expected to Grow Fastest?
Asia-Pacific was the largest region in the flame retardants market in 2024. It is also expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Flame Retardants Market Report 2025 Offer?
Flame retardants are chemicals used to treat combustible materials to prevent fires or retard the spread of existing fires, thereby increasing the amount of time for escape. Flame retardants provide an essential layer of fire protection and are crucial for reducing the hazards associated with fire. The Flame Retardants Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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