Flame Retardant Market Distributors | Marketing Channel Future Trend | Forecast Report

Felton, Calif., USA, Oct. 15, 2020 — /EPR Network/ —

The global Flame Retardant Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global flame retardant market size was valued over USD 6.27 billion in 2015. Flame retardant is a key component reducing the impact of fires on people, property, and environment. Flame retardants either prevent the fire from starting or slow it down significantly. The growth in industries such as construction, transportation, and electrical & electronics is expected to propel market demand over the forecast period. 

Key Players: 

Key industry players include BASF, Albemarle, Chemtura, ICL, Clariant International Ltd., Italmatch Chemicals, Huber Engineered Materials, DSM & Thor Group Ltd. Major industry participants have focused their efforts on the acquisition of local companies to increase their global footprint. Companies are investing heavily in product innovation to gain market share. 

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Growth Drivers: 

Governments around the world have framed stringent regulations aimed at reducing destruction caused to life and property due to fire. Government regulation pressure and growing awareness regarding fire safety among industry participants are expected to boost market demand.

Flame retardants are used to reduce this risk of fire in a wide range of electronic products such as smartphones, laptops, refrigerators, TV sets, printed wiring boards, and vacuum cleaners. Rising disposable income is boosting the growth of electrical & electronics segment owing to which the demand for flame retardants is expected to be high in this application segment.

Construction end use segment is anticipated to grow at a CAGR of 6.8% over the forecast period on account of growing investments in developing countries. Fire safety and prevention is the primary concern of the consumers in construction, the demand is expected to grow rapidly over the forecast period.

End-Use Outlook: 

• Construction
• Transportation
• Electrical & Electronics 

Application Outlook: 

• Polyolefins
• Epoxy resins
• Unsaturated Polyester
• Polyvinyl Chloride
• Engineering Thermoplastics
• Rubber
• Styrenics 

Regional Insight:

Asia Pacific was the major regional segment and accounted for over 45% of total volume in 2015. High demand from countries such as China, Japan, and India are benefitting the market growth. The upcoming electrical & electronics manufacturing hubs coupled with a positive outlook for construction sector is expected to drive the flame retardant market over the forecast period.

The growing pressure of regulatory agencies such as REACH and European Flame Retardant Association (EFRA) is driving the demand for these products in Europe. Europe consumed over 600 kilotons in 2015. The presence of a large number of end-use industries is expected to boost market growth in this region.

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