Non-halogenated Flame Retardants Market for Polymer: Introduction
The global non-halogenated
flame retardants market for polymer was valued at ~US$
2 Bn in 2018 and is
anticipated to expand at a CAGR of ~8% from 2019 to 2027.
The global non-halogenated flame retardants market for polymer is driven by
growth in the building & construction industry. In terms of value, the
market in North America is expected to expand at a CAGR of ~8% during
the forecast period. In North America, American Chemistry Council’s North
American Flame Retardant Alliance (NAFRA) is an organization that supports
producers, suppliers, and companies.
Key Drivers of Non-halogenated
Flame Retardants Market for Polymers
Halogenated
retardants are considered toxic. Owing to such reasons, several end-use
industries are now shifting to the use of non-halogenated flame retardants.
Flame retardants are popularly used as additives in polymers in order to
increase the fire resistance during fire accidents or in case of ignition. The
drive by fire safety regulations regarding risk of fire hazards in various
end-use industries, including construction and electrical are also considered
as one of another key growth factor for the global demand for non-halogenated
flame retardants. Moreover, increasing polymer usage in multiple industries is
also leading to high demand for flame retardant polymers.
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Electrical Applications to Offer
Lucrative Opportunities
Worldwide,
the construction industry widely utilizes the non-halogenated flame retardants
for paints, coatings, building materials, wires, and cable applications. The
construction industry collectively accounted for ~46% market
share in 2018. Similarly, the electrical
industry is growing at a CAGR of ~8% for the
period from 2019 to 2027 and
is expected to be the upcoming fastest growing end-use industry due to the
widespread use of non-halogenated flame retardants in electrical equipment.
Engineering Thermoplastic (ETP) retardant demand is expected to surge due to
its estimated growth rate of 8% CAGR from 2019 to 2027,
whereas, Polyolefins accounted for 26% share of
the market in 2018 and is
likely to grow at a moderate rate over the forecast period.
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Safety Concerns in Terms of Usage
to Hamper Market
Concerns
related to the safe usage of non-halogenated flame retardants materials in
plastics, toxicity; and environmental compatibility are hampering the
non-halogenated flame retardants market for polymer. Furthermore, certain
issues in functional properties like loading levels and setbacks in cognitive
operations of non-halogenated flame retardants are growth restraining factors
expected to hinder the market growth in the coming years.
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Growth Opportunities in Asia
Pacific
Based on
region, the global non-halogenated flame retardants market for polymer has been
divided into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. North America accounted for ~42% of the
global non-halogenated flame retardants market in 2018. The
building & construction industry held the prominent share of the market in
North America. This region was then followed by Europe and Asia Pacific which
together accounted for ~56% market
share. In terms of production, Asia Pacific holds major share of the global
non-halogenated flame retardants market for polymer, as key producing countries
such as China, India and Japan, are based in the region. Presence of rapidly
expanding economies, such as India and China, is estimated to create lucrative
opportunities for the non-halogenated flame retardants market for polymer in
Asia Pacific in the near future.
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Key
Players in Global Market
The leading
players in the non-halogenated flame retardants market for polymers are
Albemarle, Israel Chemicals Limited (ICL), Nabaltec AG, Italmatch, and
Clariant. These companies accounted for more than 40% of
the market share. Albemarle being the leading player in the market is engaged
in manufacturing of aluminum hydroxide and magnesium hydroxide under the brand
name Martinal and Magnifin respectively. In December 2018,
LANXESS invested US$ 223 Mn for
expanding its flame retardants additives business. The company significantly
strengthened its market position after acquiring Chemtura, a U.S.-based
company, in 2017. The company’s brominated
flame retardant additives and bromine derivatives have been integrated into
Lanxess’ business with phosphorus-based flame retardant additives. Owing to
increasing environmental concerns, and technological developments in
non-halogenated flame retardants, a number of companies are entering the
non-halogenated flame retardant market.
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