Flame Retardants Market size is estimated to cross USD 21 Billion by the end of 2035, growing at a CAGR of 8.10% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of flame retardants was over USD 8 Billion. The growth of the market can be attributed to the increasing usage of flame-resistant products in various end-user industries such as electronics, construction, and others. For the sake of compliance with fire safety and prevention regulations, these sectors are increasingly using flame-retardant materials. Increased awareness among consumers about the improved fire safety of combustible materials and products is also anticipated to drive flame retardants market growth in the forecast period. Flame retardants in offices and homes prevent an increasing number of electrical or consumer goods from being exposed to fire. Research cites that in the USA, flame retardants were used in television casings to reduce the risk of electronic fire by 54%.
In addition to these, factors that are believed to fuel the market growth of flame retardants include the rise in the production of plastic and its use in multiple products. The use of plastics has grown drastically over the years and sustainable flame retardants are required for effective fire treatment. For instance, between 2008 and 2019, world plastic production rose steadily by nearly 10 million metric tons. As plastics are easy to handle and have low density, more plastics are being incorporated into buildings. In a very short time, the plastics fire load may cause buildings to be at high-temperature levels. All these factors are predicted to present the potential for market expansion over the projected period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
8.10% |
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Base Year Market Size (2022) |
USD 8 Billion |
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Forecast Year Market Size (2035) |
USD 21 Billion |
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Regional Scope |
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End-user (Building & Construction, Electronics & Appliances)
The global flame retardants market is segmented and analyzed for demand and supply by end-use industry into building & construction and electronics & appliances. Out of the two types of flame retardants, the electronics & appliances segment is estimated to gain the largest market share of about ~34% in the year 2035. The growth of the segment can be attributed to the growing demand for computers, tablets, smartphones, and other new electronics in order to prevent any chemicals from reaching the environment or affecting consumers' health through the use of flame retarders while they are being manufactured. This is estimated to contribute to the growth of the market in the forecast period. India's domestic electronics production grew by more than 23% from $29 billion to $81.5 billion with a compound annual growth rate of 23 %. In the global market for flame retardants, this may lead to an increase in the electronics segment.
Type (Aluminum Trihydrate, Antimony Oxide, Brominated)
The flame retardants market is also segmented and analyzed for demand and supply by type into aluminum trihydrate, antimony oxide, and brominated. Amongst these three segments, the aluminum trihydrate segment is expected to garner a significant share in the year 2035. In order to minimize the flames' intensity, ATH is formed by releasing water molecules through an endothermic reaction. When using ATH, because it does not release toxic smoke during the burning process, it is preferred over halogen compounds. Demand for ATH compounds will increase as a result of the reduced impact on the environment and stringent legislation governing the use of halogens, which will help to make this part one of the main segments in the forecast period.
The combustibility and flammability of the products in which they are contained are reduced by Brominated compounds. In clothing, electronics, and furniture, these compounds are the most effective. The market is expected to be driven by the increasing demand for brominated compounds in the Asia Pacific. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global flame retardants market includes the following segments:
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By Type |
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By Application |
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By End Use Industry |
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APAC Market Statistics
The share of flame retardants market in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~38% by the end of 2035. The growth of the market can be attributed majorly to the increasing presence of significant electronics industries and increasing construction activity. The region is estimated to have around 61.0% of the world's population and has a rapidly growing manufacturing and processing sector. The Asia Pacific has the largest flame retardants market, with China accounting for most of them. which is expected to double in size. The demand for various sectors such as construction, electronics & appliances, and automotive is also being increased by the increasing population in this region that has a more diversified income stream. Flame retardants are applied to textiles, inhibiting or suppressing the combustion process. Reports cite that the Indian textile sector is, on the other hand, attracting FDI of over $3.75 billion from April 2000 to March 2021, as stated in a report. In addition, owing to lower labor prices, reduced costs of building production units, and cost-efficient flame retardants, manufacturers across the globe have come to view Asia as a promising market. These factors are anticipated to contribute to the growth of the market in the forecast period.
North American Market Forecast
The North American flame retardants market is estimated to be the second largest, registering a significant share by the end of 2035. The growth of the market can be attributed majorly to the increasing industrialization and construction activities in the region. The growth of the market is also by the implementation of rigorous rules and regulations for fire safety is a contributing factor to the US position in the market. The regulation imposes a requirement on manufacturers to use these stabilizers in their finished products. Continued research and technological advances in fire resistance polymer composites, which provide excellent durability and heat resistance down to the point of low thickness are other factors contributing to the growth of the market.
Europe Market Forecast
Further, the flame retardants market in Europe is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing use of flame retardants in the construction industry. Fire retardants are mainly used to provide structural insulation in the European building and construction industry. For the purpose of maintaining optimum temperatures and energy savings, insulation is being used in homes and buildings. In addition, flame retardants are of major use to polyolefin foam in buildings for heating, ventilation, and air conditioning purposes as well as a thermal insulation material for pipes or other materials.
Author Credits: Smruti Ranjan, Rajrani Baghel
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