What is Global Flame Retardant Market?
The Global Flame Retardant Market is a vast and dynamic sector that plays a crucial role in various industries. Flame retardants are substances that significantly reduce the flammability of materials. They are used to meet fire safety standards in a wide range of applications, including construction, electronics, textiles, and transportation. The global market for these substances is continually evolving, driven by technological advancements, regulatory changes, and shifts in consumer demand. In 2023, the market was valued at a substantial US$ 2190 million, and it's projected to grow even further, reaching an impressive US$ 3331 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period from 2024 to 2030.
Organic Halogen Flame Retardant, Organic Phosphorus Flame Retardant, Inorganic Flame Retardant in the Global Flame Retardant Market:
The Global Flame Retardant Market is segmented into various types, including Organic Halogen Flame Retardant, Organic Phosphorus Flame Retardant, and Inorganic Flame Retardant. Organic Halogen Flame Retardants are the largest segment, holding over 45% of the market share. These substances contain halogen elements such as chlorine and bromine, which are effective in reducing the flammability of materials. Organic Phosphorus Flame Retardants, on the other hand, contain phosphorus, which works by promoting charring and reducing the availability of fuel for the fire. Lastly, Inorganic Flame Retardants are typically metal hydroxides, which release water when heated, thereby cooling the material and slowing down the fire.
Wire and Cable, Electronic and Electrical, Automobile, Construction, Others in the Global Flame Retardant Market:
The Global Flame Retardant Market finds its application in various sectors such as Wire and Cable, Electronic and Electrical, Automobile, and Construction. In the Wire and Cable sector, flame retardants are used to reduce the risk of fire in electrical installations. In the Electronic and Electrical sector, they are used in the manufacturing of electronic devices and appliances to prevent electrical fires. In the Automobile sector, flame retardants are used in the production of vehicles to enhance passenger safety. Lastly, in the Construction sector, they are used in building materials to meet fire safety standards.
Global Flame Retardant Market Outlook:
Looking at the market outlook, the Global Flame Retardant Market is set to experience significant growth in the coming years. In 2023, the market was valued at US$ 2190 million, and it's expected to reach US$ 3331 million by 2030, growing at a CAGR of 6.1% during the forecast period from 2024 to 2030. The top five manufacturers globally hold a share of over 25%. In terms of products, Organic Halogen Flame Retardant is the largest segment, with a share of over 45%. Regarding applications, Wire and Cable and Electronic and Electrical sectors are the most promising, each holding a share of about 25%.
| Report Metric | Details |
| Report Name | Flame Retardant Market |
| Accounted market size in 2023 | US$ 2190 million |
| Forecasted market size in 2030 | US$ 3331 million |
| CAGR | 6.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Lanxess, Albemarle, Icl-Group, BASF, Clariant, Adeka, DAIHACHI CHEMICAL, Teijin, NIHON SEIKO, Stahl, THOR, AK Chemtech, Wansheng, Yoke Technology, Haiwang Chemical, ENTER CHEMICAL, Weidong Chemical, Laiyu Chemical, Moris Tech, TAIXING ADVANCED MATERIAL, Tianyi Chemical, Brother Sci.&Tech, Taizhou New Material, SULI, JLS Flame Retardants Chemical, Shunchang Chemical, Faretar, Phosphor Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
