Global non halogenated flame retardants market is predicted to touch over USD 3.4 billion by the end of 2024 as a result of large applications of polymers usage in automobiles, electronics, and construction. Key features such as low toxic emissions, safety, insulation, weight reduction, and durability can boost the industry demand. Growing health and ecological concerns are predicted to drive the industry growth trends.
Non halogenated flame retardants market share is predicted to surpass USD 3.4 billion by 2024
Non halogenated flame retardants industry size worth over USD 1.6 billion in 2017, is projected to register a CAGR of around 8% over 2018-2024. Factors like wide applications of polymers in automobile and construction sectors to improve their fire resistance is predicted to boost the industry growth.
However, ecological issues related to the use of brominated products is predicted to negatively impact the environment hindering the industry growth. Furthermore, scarcity of key raw materials like Phosphorus and Aluminum hydroxide can pose a threat to industry growth due to its high loading features.
Non halogenated flame retardants industry is segmented in terms of products, applications, end use industries, and regions.
Aluminum hydroxide non halogenated flame retardants market size to exceed 1.8 million tons by 2024
Phosphorous based product segment size is projected to grow at around 8% over 2016-2024 as a result of their smoke suppressing and fire extinguishing features.
Aluminum hydroxide segment is predicted to exceed 1.8 million tons growing at a rate of around 7% over 2018-2024 as a result of its cost-effectiveness and thermodynamic properties. Furthermore, its extensive use in paints, rubber and polymers have added to segment growth.
Polyolefins non halogenated flame retardants market size to grow at around 7.5% over 2018-2024
Epoxy resins market size is anticipated to witness a high growth rate of around 7.5% over forecast timeframe due to applications in paints & coatings, adhesives, and electronic devices as a result of its fire resistance characteristics.
Engineering thermoplastics segment can exceed USD 280 million by the end of 2024 owing to its use in the production of medical devices and vehicle parts.
Polyolefins market size worth over USD 450 million in 2017, is predicted to record a CAGR of 8.5% over the forecast timeframe. Its applications in wires & cables and laboratory equipment for safety purposes is predicted to drive the application segment growth.
Electrical non halogenated flame retardants market to grow at a rate of around 7.5% over 2018-2024
Construction industry is predicted to exceed USD 1.2 billion by the end of 2024. The growing use of polymers as safety materials in switchboards and wires & cables in construction industry along with applications in paints & coatings is predicted to drive the segment growth over the period of 2016-2024.
Transportation industry is predicted to witness a noticeable growth over the period of 2018-2024.
Electrical industry segment is predicted to register a CAGR of around 7.5% over the forecast timeline The growth of the segment can be attributed to the smoke, acidity, and toxin reducing properties of halogen free cables used in electrical applications for environmental safety.
North America non halogenated flame retardants market to contribute over USD 1.25 billion by 2024
Market size in North America worth over USD 750 million in 2017, is predicted to produce over USD 1.25 billion by the end of 2024. U.S. non halogenated flame retardants industry dominated the North American industry in terms of revenue, with Aluminum Hydroxide contributing to a major portion of the overall revenue share over the forecast timeline.
Market share in Asia Pacific is predicted to grow at a CAGR of around 8% over 2018-2024. Factors such as fire safety issues and the huge presence of production units are predicted to contribute towards the growth. Countries like India, China, and Indonesia are predicted to contribute towards the regional growth as a result of heavy investments in the construction sector.
Latin America is predicted to contribute towards the industry growth over the forecast timeline due to the presence of a large amount of automobile manufacturers.
Middle East & Africa with good infrastructure facilities in countries like South Africa, Saudi Arabia, UAE, and Qatar are predicted to promote the industry growth over the forecast timeline.
Key industry players include Italmatch Chemicals, BASF, Albemarle, FRX Polymers, and DuPont.
Segments Covered in this Report:
By End Use
The above information is provided on a regional and country basis for the following: