Non-halogenatedFlame Retardants Market for Polymer: Introduction
Theglobal non-halogenated flame retardants market for polymer was valued at ~US$ 2 Bn in 2018 and isanticipated to expand at a CAGR of ~8% from 2019 to 2027. The global non-halogenatedflame retardants market for polymer is driven by growth in the building &construction industry. In terms of value, the market in North America isexpected to expand at a CAGR of ~8% duringthe forecast period. In North America, American Chemistry Council’s NorthAmerican Flame Retardant Alliance (NAFRA) is an organization that supportsproducers, suppliers, and companies.
KeyDrivers of Non-halogenated Flame Retardants Market for Polymers
Halogenatedretardants are considered toxic. Owing to such reasons, several end-useindustries are now shifting to the use of non-halogenated flame retardants.Flame retardants are popularly used as additives in polymers in order toincrease the fire resistance during fire accidents or in case of ignition. Thedrive by fire safety regulations regarding risk of fire hazards in variousend-use industries, including construction and electrical are also consideredas one of another key growth factor for the global demand for non-halogenatedflame retardants. Moreover, increasing polymer usage in multiple industries isalso leading to high demand for flame retardant polymers.
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ElectricalApplications to Offer Lucrative Opportunities
Worldwide,the construction industry widely utilizes the non-halogenated flame retardantsfor paints, coatings, building materials, wires, and cable applications. Theconstruction industry collectively accounted for ~46% marketshare in 2018.Similarly, the electrical industry is growing at a CAGR of ~8% for theperiod from 2019 to 2027 and isexpected to be the upcoming fastest growing end-use industry due to thewidespread use of non-halogenated flame retardants in electrical equipment.Engineering Thermoplastic (ETP) retardant demand is expected to surge due toits estimated growth rate of 8% CAGRfrom 2019 to 2027, whereas,Polyolefins accounted for 26% shareof the market in 2018 andis likely to grow at a moderate rate over the forecast period.
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SafetyConcerns in Terms of Usage to Hamper Market
Concernsrelated to the safe usage of non-halogenated flame retardants materials inplastics, toxicity; and environmental compatibility are hampering thenon-halogenated flame retardants market for polymer. Furthermore, certainissues in functional properties like loading levels and setbacks in cognitiveoperations of non-halogenated flame retardants are growth restraining factorsexpected to hinder the market growth in the coming years.
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GrowthOpportunities in Asia Pacific
Basedon region, the global non-halogenated flame retardants market for polymer hasbeen divided into North America, Europe, Asia Pacific, Latin America, andMiddle East & Africa. North America accounted for ~42% of theglobal non-halogenated flame retardants market in 2018. Thebuilding & construction industry held the prominent share of the market inNorth America. This region was then followed by Europe and Asia Pacific whichtogether accounted for ~56% marketshare. In terms of production, Asia Pacific holds major share of the globalnon-halogenated flame retardants market for polymer, as key producing countriessuch as China, India and Japan, are based in the region. Presence of rapidlyexpanding economies, such as India and China, is estimated to create lucrativeopportunities for the non-halogenated flame retardants market for polymer inAsia Pacific in the near future.
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KeyPlayers in Global Market
Theleading players in the non-halogenated flame retardants market for polymers areAlbemarle, Israel Chemicals Limited (ICL), Nabaltec AG, Italmatch, andClariant. These companies accounted for more than 40% of themarket share. Albemarle being the leading player in the market is engaged inmanufacturing of aluminum hydroxide and magnesium hydroxide under the brandname Martinal and Magnifin respectively. In December 2018,LANXESS invested US$223 Mn for expanding its flame retardants additivesbusiness. The company significantly strengthened its market position afteracquiring Chemtura, a U.S.-based company, in 2017. Thecompany’s brominated flame retardant additives and bromine derivatives havebeen integrated into Lanxess’ business with phosphorus-based flame retardantadditives. Owing to increasing environmental concerns, and technologicaldevelopments in non-halogenated flame retardants, a number of companies areentering the non-halogenated flame retardant market.
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