Flame Retardants Market Trends

Growth Drivers

• Growing Fire & Safety Regulations to Aid in Expansion – Increased risks of explosions and fire-related accidents have been generated by the increasing number of households and businesses. Due to that, stringent fire safety legislation and protocols have been introduced in a number of countries across North America and Europe. This has led to a growing use of flame retardants in buildings for the purpose of complying with these government regulations. Due to increasing consumer demand for household appliances, electronic equipment, and motor vehicles, regulations on fire protection have been drawn up by bodies such as the National Fire Protection Association NFPA and the International Code Council. In October 2020, the EU Green Deal and the subsequent Chemical Strategy for Sustainability were launched to promote the use of halogen-free flame retardants HFFRs, and smoke suppressants.
• Rising Development of Innovative Flame Retardants – Market players are developing synergists that are anticipated to boost the market growth. The quantity needed to achieve the same level of flammability can be reduced by including synergists in these products. Synergists are also designed to overcome problems such as corrosivity and impart properties such as excellent dispersion and UV stability. In order to improve mechanical performance, allow lower phosphorous levels, and reduce corrosion, Dow Corning has developed a flame-retardant synergist named Dow Corning 43821.
• Increasing Bromine Production Capacity– In June 2021 Tosoh Corporation announced that it will expand the capacity to produce bromine by 30 % at its plant situated in Nanyo, Shunan City, Japan, for use in flame retardants and a variety of applications. It should be completed by January 2023, which will allow the company to grow its business and become more profitable.
• Increasing Demand for Flame Retardants in Construction Sector– It is expected that flame retardants are used in the construction sector to create buildings that are more immune to fire. Studies and trials conducted in Europe, the US, and India found that flame retardants incorporated into upholstered furniture have been shown to provide useful escape time as a way of reducing the spread of fire. For example, the European Commission has estimated that over the last 10 years in Europe, there will be a 20 % reduction in fire deaths due to the use of flame retardants.

Challenges

• Environmental and health concerns – Flame retardant substances may enter the water, soil, or air from products, and may come into contact with humans. They are known to have severe health effects on humans such as thyroid disruption, cancer, reproductive toxicity, cancer, and neurologic dysfunction. These additives are persistent pollutants that can bioaccumulate food chains. This is estimated to be the growth-hindering factor of the market.
• High loading levels that alter the final products
• Supply chain challenges in the Asia Pacific region