Flame Retardants Market Size, Share, Analysis, Growth, Trends, Industry Report 2024-2033| BASF SE, ICL Group Limited, Albemarle Corporation, J.M. Huber Corporation, Italmatch Chemicals S.p.A

Overview and Scope

Flame retardants are chemicals used to treat combustible materials in order to either prevent fires from starting or retard the spread of existing fires and increase the amount of time for escape. Flame retardants give customers an essential layer of fire protection and can be crucial for lowering the hazards associated with fire.

Sizing and Forecast

The flame retardants market size has grown strongly in recent years. It will grow from $7.94 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. 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 $10.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. 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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Segmentation & Regional Insights

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)

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.

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Major Driver Impacting Market Growth

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.

Key Industry Players

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

The flame retardants market report table of contents includes:

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

26. South America Flame Retardants Market

27. Brazil Flame Retardants Market

28. Middle East Flame Retardants Market

29. Africa Flame Retardants Market

30. Flame Retardants Market Competitive Landscape And Company Profiles

Top Major Players: