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Increasing demand from the electronics industry is a key factor driving flame retardant market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, November 10, 2022 /EINPresswire.com/ -- The global flame retardant market size was USD 6.72 Billion in 2021 and is expected to register a revenue CAGR of 5.1% during the forecast period, according to latest analysis by Emergen Research. Flame retardants market revenue growth is driven by factors such as rising fire safety laws, expansion of end-use sectors, rising demand from the electronics industry, and increased demand from the construction sector.

Flame retardants are regularly applied or sprayed on the following products: foam, upholstery, and mattresses, building and construction materials (electrical wires and cables), and insulation materials (polystyrene and polyurethane insulation foam). Many flame retardant products have been removed from the market or are no longer manufactured. However, because it does not decay rapidly, it can be used reliably in the environment for many years. They can also bioaccumulate or accumulate over time in humans and animals. Humans are exposed to flame retardants in a variety of ways, including in their diet and consumer items in the home, car, and office.

The use of flame retardants has given an important layer of fire protection, saving lives and property. These chemicals are utilized to provide vital fire safety protection in electrical devices. One of the most significant advantages of flame retardants in product development is that they can prevent the inadvertent ignition of electrical equipment and, if ignition does occur, it decreases the combustion rate. They are chemically linked to the circuit boards of consumer electronics, preventing any chemicals from leaching into the environment or posing health risks to users. The purpose of circuit boards is to transfer electrical current; hence proponents of flame retardants assert that fire protection is an apparent requirement. The plastic shells that wrap circuitry and electronics also contain flame retardants, with possibly more severe health effects. They are introduced to plastics at the end of the production process without bonding or reacting with the finished material, making it much easier for them to leak into the environment.

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What Questions Should You Ask before Buying a Market Research Report?

• How is the flame retardant-market evolving?

• What is driving and restraining the flame retardant market?

• How will each flame retardant submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each flame retardant submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading flame retardant markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

• What are the flame retardant projects for these leading companies?

• How will the industry evolve during the period between 2020 and 2030? What are the implications of flame retardant projects taking place now and over the next 10 years?

• Is there a greater need for product commercialisation to further scale the flame retardant market?

• Where is the flame retardant-market heading and how can you ensure you are at the forefront of the market?

• What are the best investment options for new product and service lines?

• What are the key prospects for moving companies into a new growth path and C-suite?

Our lives are more easy thanks to electricity, but they are also unluckily riskier. The demand for chemicals that stop plastics and other flammable materials from igniting or at least slow down fires is growing as a result of the development in e-mobility, charging stations, batteries, and photovoltaic systems. For the sixth study, Ceresana has examined the global market for all fire retardants, including ATH, organophosphorus, ATO, and other additives as well as brominated and chlorinated flame retardants.

Due to their possible effects on human health and the environment, many flame retardants are divisive. For instance, they may produce toxins or accumulate in living things. Another difficulty is recycling plastics made of flame-resistant materials. Aluminum trihydroxide, commonly known as halogen-free aluminium hydroxide, is regarded as being somewhat environmentally friendly. Second place goes to brominated flame retardants, which are hazardous and are utilised primarily in electrical items and foams. Significant geographical disparities are caused by governmental policies and regulatory restrictions, such as the RoHS Directive on the restriction of hazardous compounds in electrical and electronic equipment.

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The report further divides the flame retardant market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the flame retardant market.

Emergen Research has segmented the global flame retardant market on the basis of product type, application, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

Alumina trihydrate

Brominated Flame Retardant

Antimony Trioxide

Phosphorous Flame Retardants

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Unsaturated Polyester Resins

Epoxy Resins

PVC

Rubber

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Construction

Automotive & Transportation

Electronics

Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report also studies the key companies of the flame retardant market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:

Albemarle Corporation, BASF SE, Dow, Eastman Chemical Company, Hangzhou Lingrui Chemical Co., Ltd, Hongbaoli Group Co., Ltd., Huntsman Corporation, Lanxess, Muby Chemicals, and Sasol.

Some Key Highlights From the Report

Brominated flame retardant segment accounted for largest revenue share in 2021. Brominated Flame Retardants (BFRs) are synthetic chemical mixtures that are added to a variety of products, including those designed for industrial use, to make them less flammable. Polymers, textiles, and electronic equipment are common applications. By assuring the duration of flames, brominated flame retardants serve a vital role in lowering the impact on people, property, and the environment.

PVC segment accounted for a moderate revenue share in 2021. Poly Vinyl Chloride (PVC) is a commonly used polymer, particularly in electrical and communication cables as an insulating covering and in domestic applications such as window panes, doors, and house sidings. As a result of its flame-retardant properties, PVC inhibits both the initiation and spreading of fire. Fire protection is provided not only by the presence of chlorine inside the polymer matrix but also by the creation of a carbonized product as a result of the recent evolution of hydrogen chloride. It is hypothesized that a carbonized product has conjugated & cross-linked structures that safeguard the polymer main chain during combustion. As flame retardants for PVC, chemical substances such as coordination compounds, metal alloys, and inorganic and organic chemicals are recommended.

Automotive & transportation segment accounted for a significant revenue share in 2021. Flame retardants are used in the automotive industry for functional and structural thermoplastic engineering components found under the hood. They play an important role in heat insulation in mass transit, trucks, marine industry, and aviation. The most frequent materials used for this purpose are stiff polyurethane foams, crosslinked polyolefins, and crosslinked plasticized PVC and nitrile rubber mixtures. It is also important to note the use of plasticized PVC-coated fabric to manufacture automobile and boat covers.

Market in Europe accounted for moderate revenue share in 2021. Increasing production of consumer electrical and electronic goods, rise in safety regulations in building construction, and increase in standard of living in eastern European countries are expected to propel the need for flame retardants. In the European construction and engineering business, flame retardants are predominantly utilized for structural insulation.

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