The global flame retardants market size is expected to reach USD 10.63 billion by 2030, according to a new study by Polaris Market Research. The report “Flame Retardants Market Share, Size, Trends, Industry Analysis Report, By Type (Brominated, Nitrogen, Chlorinated, Phosphorous, Antimony Oxide, Aluminum Trihydrate, Others); By Application; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the market is influenced by factors such as urbanization, industrialization, and the rise in application in the healthcare, automotive, and electronics sectors. Consumers are increasingly moving toward non-halogenated retardants to address rising health and environmental concerns. Industry players are exploring new technologies to develop advanced products to cater to the growing consumer demand.
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Greater concerns regarding fire safety and the implementation of stringent regulations to minimize losses from fire have increased the application of flame retardants in textiles, upholstery, electrical appliances, and automobiles. These products are integrated with flame retardants to address fire safety standards and inhibit the ignition and spread of flames.
On the basis of end-use, the electrical and electronics segment accounted for a significant share of the market in 2021. However, the automotive segment is expected to experience significant growth during the forecast period. Growth in the penetration of passenger vehicles, the introduction of stringent regulations regarding vehicular safety, and an increase in the adoption of electric vehicles boost the growth of this segment.
Asia-Pacific dominated the global market in 2021. The high share of the region is attributed to factors such as industrialization and growth in the automotive sector. Greater application in the building and construction sector and growth in the sale of consumer electronics have further increased the demand for flame retardants in Asia-Pacific. Investments in research and development for the development of non-toxic products, the presence of prominent players in Asia-Pacific, and growth in developing nations in the region countries further contribute to the growth of this region.
Flame Retardants Market Report Highlights
Polaris Market Research has segmented the flame retardants market report based on type, application, end-use, and region:
Flame Retardants, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Flame Retardants, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Flame Retardants, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Flame Retardants, Regional Outlook (Revenue - USD Billion, 2018 - 2030)