Non-Halogenated Flame Retardants Market worth over $3.4 billion by 2024
Published Date: February 9, 2017 Authors: Kunal Ahuja, Sonal Singh
As per a new study published by Global Market Insights, Inc., the Non Halogenated Flame Retardants Market size is anticipated to exceed USD 3.4 billion till 2024. Increasing investment in the construction sector coupled with stringent regulations towards fire safety will propel the industry outlook.
Europe non halogenated flame retardants market is governed by regulations introduced by WEEE and REACH. WEEE directive 2012/19/EU aims to substantially increase recycling capacity and cover additional group of products. Various parameters including toxicity, ecological effects and fire resistance capacity are considered before authorizing sales and distribution of fire suppressants.
Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.
Non halogenated flame retardants market share from polyolefins is set to grow at over 7% through 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% through 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the business outlook.
Increasing polymer adoption in automotive and construction industries will impel non halogenated flame retardants market demand. Polymers are base material with chemically linked additives to suppress fire. Chlorine and bromine based additives used in manufacturing polymers will have a negative impact on the ecosystem owing to large quantities of toxic materials present.
Browse key industry insights spread across 113 pages with 168 market data tables & 24 figures & charts from the report, “Non Halogenated Flame Retardants Market By Application (Polyolefins, Epoxy Resin, UPE, PVC, ETP, Rubber, Styrenics), By Product (Aluminum Hydroxide, Phosphorous Based), By End Use (Construction, Electrical, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
North America non halogenated flame retardants market sales, led by U.S., will surpass USD 1.3 billion in 2024. Federal government guidelines laid down by the Environment Protection Agency will stimulate sales of bio based products and limit brominated and chlorinated fire suppressors demand. In 2015, North America electrical industry used more than 100 kilos ton fire suppressants.
For Europe non halogenated flame retardants market size by phosphorous based retardants is expected to generate demand exceeding 120 kilo tons by 2024. Aluminum hydroxide is expected to grow over 8% through 2024, subject to wide application in industries including electronics, construction and electrical equipment.
Middle East will witness growth over 9% through 2024 owing to large scale infrastructural development coupled with stringent regulations towards safeguarding construction activities. Asia Pacific non halogenated flame retardants market is set to exceed USD 800 million by 2024, subject to rapid growth in construction industry. China accounted for over 40% of construction sector in the region in 2015. Latin America transportation industry witnessed demand surpassing 3 kilo tonnes by 2015 and will grow significantly over the forecast period.
Notable participants in the non-halogenated flame retardants industry include Albermarle, Nabaltec, BASF, Israel Chemicals, Clariant, Chemtura, Italmatch Chemicals, and Huber. The companies integrate backwards to negate possible raw material scarcity. Industry players are increasingly focusing on broadening their product portfolio by adding fire suppressants with low toxicity made from magnesium hydroxide, melamine and phosphorus. Demand supply deficit of raw material may jeopardize non halogenated flame retardants market price.