The flame retardants global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Flame Retardants Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The flame retardants market size has grown strongly in recent years. It will grow from <b>$7.94 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to consumer goods manufacturing, safety concerns in transportation, awareness of fire hazards, electronics industry growth, stringent fire safety regulations.
The flame retardants market size is expected to see strong growth in the next few years. It will grow to <b>$10.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. </b> The growth in the forecast period can be attributed to rapid urbanization, increasing electronic device usage, demand for environmentally friendly flame retardants, global efforts to reduce fire incidents. Major trends in the forecast period include advancements in nanotechnology, demand in automotive applications, collaborations for research and development, consumer awareness and product labeling, use in textiles and upholstery, global expansion and market penetration.
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Scope Of Flame Retardants Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Flame Retardants Market Overview
Market Drivers –
The increasing demand for electronic products will drive the flame retardants market going forward. The demand for electronics is rising due to technological advancements, fast replacement cycles, growing disposable income, and changing consumer preferences. During manufacturing, flame retardants are chemically adhered to the circuit boards of electronics, preventing any chemicals from leaching into the environment or potentially harming users’ health. For instance, according to the India Brand Equity Foundation (IBEF), an Indian Government export promotion agency, a 30% year-on-year growth in electronics manufacturing is anticipated between 2020 and 2025. It will result in a rise in output of $163.14 billion. Therefore, increasing demand for electronic products will lead to an increase in demand for flame retardants.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the flame retardants market. Major companies operating in the flame retardants sector are focused on developing innovative products to meet customer demand. For instance, in November 2021, Italmatch Chemicals S.p.A., an Italy-based flame retardants company, launched ‘Liquid Masteret,’ a new phosphorus-based flame retardant. The business introduced its concentrated mixtures of micro-encapsulated and stabilized red phosphorus (RP). The product is utilized in the transportation, electrical & electronics, and construction industries, particularly when halogen is not recommended because of the very corrosive smoke it produces in the event of a fire.
The flame retardants market covered in this report is segmented –
1) By Type: Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide, Phosphorous Flame Retardants, Other Types
2) By Application: Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber, Polyolefins, Other Applications (Engineering Thermoplastics And PET)
3) By End User: Construction, Automotive and Transportation, Electronics, Other End-Users (Textiles, Aerospace, And Adhesives)
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Regional Insights –
Asia-Pacific was the largest region in the flame retardants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the flame retardants market report 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, Apexical Inc., 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, Broadview Technologies Inc., Chemtura Corporation, Clariant International Ltd., Rio Tinto Group Corp., Sinopec Shanghai Petrochemical Company Limited
Table of Contents
1. Executive Summary
2. Flame Retardants Market Characteristics
3. Flame Retardants Market Trends And Strategies
4. Flame Retardants Market – Macro Economic Scenario
5. Global Flame Retardants Market Size and Growth
…
31. Global Flame Retardants Market Competitive Benchmarking
32. Global Flame Retardants Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Flame Retardants Market
34. Flame Retardants Market Future Outlook and Potential Analysis
35. Appendix
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