Flame Retardants Market by Type (Alumina Trihydrate, Brominated Flame Retardants, Antimony Trioxide and Phosphorus Flame Retardants), Application (Unsaturated Polyester Resins, Epoxy Resins, PVC, Rubber and Polyolefins), and End Use Industry (Construction, Automotive & Transportation and Electronics) – Global Opportunity Analysis and Industry Forecast, 2014-2022
|The global flame retardants market is expected to reach $10,212 million by 2022, from $6,558 million in 2015 registering a CAGR of 6.6% during the forecast period. Flame retardants are chemicals used in different applications by different end users. For instance, flame retardants are added to fabrics in textile industry, such as polyester fabrics, nylon fabrics, and polypropylene fabrics to make them flame resistant. Polypropylene is utilized as flame retardants for wire and cable jacketing, small appliances, lawn and garden tools, furniture components, toys and kitchen tools. Flame retardants are added to thermoplastic vulcanizate elastomers in less concentrations in guidance with restriction of hazardous substance (RoHS) to stimulate heat resistance of a material to ignition and reduce the rate of flame spread. In the entire process, the use of flame retardants as additives prevents a small fire from becoming a catastrophe.
At present, the global flame retardants market witnesses vivid opportunities due to the increase in demand for flame retardant chemicals in a wide number of end use industries. Moreover, rise in use of flame retardants in the electronic industry due to its property of decreasing the flammability of combustible semiconductors and substances is another key factor that augments the growth of the market.
Flammable plastic materials are used in abundance in modern vehicles, foams, cables, textiles, polymer formulations for electronic applications as well as in mechanical parts. This poses a high range of fire risk. Hence, flame retardants are added to these materials to halt fires in mechanical, structural, and decorative components, such as electrical short circuits, mechanical faults, and overheating. Automotive industry is the largest consumer of brominated flame retardant-hexabromocyclododecane (HBCDD). HBCDD is used for plastic cabinet and casings, insolation panels and automotive textiles. Furthermore, flame retardants are added to seats to ensure safety to passengers as small flames such as cigarettes and matches could prompt ignition.
The report segments the global flame retardants market on the basis of type, application, end use industry, and geography. On the basis of type, the market is segmented into alumina trihydrate, brominated flame retardants, antimony trioxide, phosphorus fire retardants, and others (chlorinated flame retardants and boron compounds). On the basis of application, the global flame retardants market is bifurcated into unsaturated polyester resins, epoxy resins, PVC, rubber, polyolefins, and others (engineering thermoplastics and PET). On the basis of end user industry, the global flame retardants market can be segmented into construction, automotive & transportation, electronics, and others (textile, aerospace, and adhesives). Geographically, the global flame retardants market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Leading market players have invested huge capital in R&D activities to develop advanced products to cater to the demand of end users. The major players in the industrial explosives market are:
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging market trends and opportunities in the global flame retardants market.
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KEY MARKET SEGMENTS
Unsaturated Polyester Resins
By End Use Industry
Other players in the value chain include
Turning Star Inc.
*The above list of companies is not profiled in the report, and can be added based on client interest.
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