Surging Demand from Electrical and Electronics Industry Propels Flame Retardants Market Growth
According to the latest market study on “Flame Retardants Market Forecast to 2031 – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type and End-Use Industry,” the market was valued at US$ 6.44 billion in 2023 and is projected to reach US$ 9.56 billion by 2031; it is anticipated to record a CAGR of 5.1% from 2023 to 2031. The report highlights key factors contributing to the flame retardants market size and prominent players along with their developments in the market.
The soaring demand from the electrical & electronics industry is propelling the need for flame retardants, primarily due to the increasing complexity and ubiquity of electronic devices. As the global market for electronics grows, fueled by consumer demand for smartphones, tablets, laptops, and other smart devices, the need for materials that ensure these products are safe and reliable becomes paramount. According to the International Data Corporation (IDC), 41.6 billion Internet of Things (IoT) devices capable of generating 79.4 zettabytes (ZB) of data will be in use by 2025. This exponential increase in data traffic over the Internet is due to the growing penetration of smartphones and other consumer electronics that can be connected to the Internet due to the rising popularity of IoT. Thus, the rise in demand for IoT devices is expected to foster the flame retardants market growth during the forecast period.
Flame Retardants Market Breakdown – by Region
Flame Retardants Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Halogenated, (Bromine-Based and Chlorine-Based), Halogen-Free (Phosphorus-Based, Aluminum Hydroxide, Magnesium Hydroxide, and Others)], End-Use Industry (Building and Construction, Automotive and Transportation, Electrical and Electronics, Textiles, and Others), and Geography
Flame Retardants Market Dynamics and Analysis by 2031
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According to Invest India, the global electronics manufacturing services market is anticipated to reach US$ 1,145 billion by 2026, at a CAGR of 5.4% during 2021–2026. The India Brand Equity Foundation states that the Indian electronics manufacturing industry is projected to reach US$ 520 billion by 2025. Flame retardants are essential in this context because they help prevent fires by inhibiting or slowing the spread of flames. This protection is critical in devices that generate heat or are prone to electrical faults, ensuring that they meet stringent safety standards and regulatory requirements.
As devices become smaller and more powerful, they generate more heat, increasing the risk of fire hazards. Flame retardants are integrated into various components such as circuit boards, connectors, casings, and cables to mitigate the risk of fire hazards. The increasing adoption of electric vehicles, renewable energy systems, and smart home technologies also contributes to this demand. These applications require robust safety measures to protect against potential electrical fires, making flame retardants indispensable in their production.
The electronics industry demands flame retardants that can withstand high temperatures and prevent circuit fires. The companies ensure that their flame-retardant-treated products comply with fire safety standards and regulations. Rigorous testing and certification processes are conducted to verify that the products meet legal and safety requirements. The electronics industry helps maintain public safety and prevent fire-related hazards by adhering to these standards. Their compliance efforts also drive the adoption of safer and more environmentally friendly flame-retardant formulations as they seek to minimize health and environmental impacts while meeting regulatory demands. Thus, the growing electrical and electronics industry significantly boosts the growth of the global flame retardants market.
The flame retardants market faces challenges in its growth trajectory due to the impact of stringent government policies, impacting various aspects of production, distribution, and usage. Many traditional flame retardants, especially those containing bromine, chlorine, and certain phosphorous compounds, have been found to pose health and environmental risks. Advancements in flame retardant technologies to develop eco-friendly flame retardants are poised to mitigate the deterrents and provide lucrative opportunities for the market by addressing safety concerns and meeting stringent regulatory standards. Thus, the shift toward green flame retardants is expected to set latest flame retardants market trends.
The flame retardants market analysis is carried out by identifying and evaluating key players operating in the market across different regions. ADEKA CORPORATION; Albemarle Corp; Avient Corp; BASF SE; J.M. Huber Corporation; Clariant AG; RTP Company; ICL Group Ltd; Italmatch Chemicals S.p.A; Lanxess AG; Alpha Calcit Füllstoff GmbH & Co. KG; AIR WATER INC; Konoshima Chemical Co., Ltd.; THOR Group Ltd; Nabaltec AG; Georg Nordmann; Marubeni Corp; Celanese Corp; Domo Chemicals GmbH; and Greenchemicals S.r.l, are among the key players profiled in the flame retardants market.
Flame Retardants Market Report Segmentation:
The global flame retardants market is segmented on the basis of type and end-use industry. Based on type, the market is bifurcated into halogenated and halogen-free. Based on end-use industry, the market is divided into building and construction, automotive and transportation, electrical and electronics, textile, and others.
Based on type, the halogen-free segment accounted for a larger flame retardants market share in 2023. Bromine-based and chlorine-based are two types of halogenated flame retardants. Whereas, halogen-free flame retardants include phosphorus-based, aluminum hydroxide, magnesium hydroxide, and others. Aluminum hydroxide, also known as aluminum trihydrate, finds its application as a flame-retardant filler for the polymer industry. It is halogen-free and environmentally friendly, which strengthens its scope in the end-use industries. Aluminum hydroxide is colorless and inexpensive, as well as known to posses good fire-retardant properties. Thus, the aluminum hydroxide segment holds a major share in the flame retardants market.
Based on end-use industry, the building and construction segment held the largest flame retardants market share in 2023. Flame retardants, when added to construction materials, reduce the rate at which materials burn, increase the threshold temperature at which a material ignites, and minimize the spread of flames. Insulation and structural elements are major applications of building materials that require the fire-protective benefits of flame retardants.
The flame retardants market report scope is broadly segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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