Global Flame Retardants Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Flame retardants are chemicals as well as materials used to reduce or extinguish flame in polymers, textiles and coatings, adhesives, sealants and elastomer (CASE). Some of the most important flame retardants elements include bromine compounds, phosphorus compounds and chlorinated compounds. Other flame retardants include aluminum trihydroxide, antimony oxide, boron compounds, magnesium hydroxide, and other products. Aluminium trioxide accounts for the largest market share with an estimated 40% of the global flame retardants consumption. Phosphorous and brominated compounds together account for around 33% of total with almost equivalent share of each product.

The major applications of flame retardants are building & construction, electrical & electronics, automotive, textile & furniture and others. Amongst all the end-uses, building & construction accounts for the largest share is for flame retardants. The demand for flame retardants is likely to grow owing to increase in demand from the plastics and building & construction sector especially in China and other Asian countries. In the mature economies of the region like Western Europe and North America, especially USA, the market for flame retardants is likely to get a boost owing to stringent regulations and safety issues.

Flame retardants demand patterns are very different between various regions and countries. Demand growth for flame retardant chemicals will be below global averages in the mature economies like Western Europe, USA and Japan. While at the same time it will be much higher in Asian countries like China, India, South East Asia and Rest of the world. One reason for this is the geographic shift of many manufacturing industries (such as the footwear & sporting goods, automotive and electrical & electronics industry) to areas of lower labor costs such as China, India and other Asian economies. Most of these industries also use engineering plastics and increase in demand for engineering plastics from these industries is likely to add to increase in demand for flame retardants. Organophosphorous compounds are expected to witness faster growth at 3.4% followed by aluminium trihydroxide at 2.9% during the forecast period. Overall, Prismane Consulting forecast that demand for flame retardants will grow at an average rate of 3.4% per annum through 2025.