According to the latest market research study released by Technavio, the global flame retardant chemicals market is expected to grow at a CAGR almost 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global flame retardant chemicals market based on end-user:
Global flame retardant chemicals market share by end-user 2015
|
Building and construction |
25.71% |
|
Electricals and electronics |
24.90% |
|
Wires and cables |
19.11% |
|
Transportation |
14.20% |
|
Textile and furnishing |
8.58% |
|
Others |
7.50% |
Source: Technavio
The top four revenue contributing end-user segments are discussed below:
Global flame retardant chemicals market in building and construction segment
The building and construction segment accounted for around 26% of the global flame retardant chemicals market. Flame retardant chemicals find its application in several kinds of rubbers, resins, and plastics such as PVC, paints and coatings, epoxy resins, engineering thermoplastics, polyolefin, and unsaturated polyester. The market for flame retardant chemicals is affected by the growth of end-user industries, fueled by the population growth, economic growth, increasing awareness, and need for better infrastructure. In the building and construction segment, flame retardant chemicals are used for structural elements and structural insulation. In the structural elements, metal sheets, steel, plaster, and concrete used in construction, are coated with special paints and sealants that expand and form a nonflammable insulating foam. However, at high temperatures, steelwork loses its capacity to endure weight and collapses. Thus, to maintain this structural strength, the flame-retardant coatings are used to insulate the metal structure from heat. In case of structural insulation, polystyrene foam boards and rigid polyurethane board panels that are used for insulation purposes involve flame retardant chemicals. Polystyrene foam board insulations are large sheets of plastic foams used in the insulating basement, walls, roofs, and ceiling and are used for insulating walls and ceilings for soundproofing, especially in theaters and nightclubs.
Global flame retardant chemicals market in electricals and electronics segment
Flame retardant chemicals find its usage in various electricals and electronics such as in consumer electronics: smartphones, laptops, DVRs, and TV sets and in communication and technology equipment: computer servers, modems, microprocessors, radios, fax machines, and printers. It is used in various electrical appliances such as dishwashers, vacuum cleaners, clothes dryers, and refrigerators, and in case of electrical parts it is used in connectors, plugs, switches, USB ports, and socket connectors. Few important components that require flame retardant chemicals include printed circuit boards, electrical connectors, and electrical cabinets and enclosures. The growing population in the APAC region will propel the growth in the electricals and electronics industry, which in turn will drive the market growth during the forecast period.
Global flame retardant chemicals market in textile segment
In the textile industry, flame retardants are used for carpets, plastics, and curtains used in furniture. These chemicals are added to both natural and synthetic fibers used in furniture for households and offices. Polyurethanes and polyesters are commonly used in sofas, theater seats, and different types of chairs and seating. Flame retardant chemicals are filled in these plastics and foams so that they can endure an open flame for up to 12 seconds without spreading. The additive flame retardants that act as a barrier between the flame and the material and deters oxygen supply to the fire are often used in this segment. With the rise in disposable income, the living standards has improved, which is driving growth in the textile industry, thereby, driving this market for flame retardant chemicals in the segment.
Global flame retardant chemicals market in transportation segment
Flexible plastics, foams, and composite materials are slowly replacing the conventional materials such as wood and metals that are used in cars, ships, trains, and airplanes. The high combustion risk of these materials calls for the need for flame retardant chemicals in their production. In the transportation industry, components which require flame retardant chemicals include housing and dashboard, thermal insulation, connectors, battery casing, electronic components, acoustic insulation, under the hood parts, upholstery, boat cover, truck cover, and door and partition internal panels. In this segment phosphorus-based, halogen-containing, nitrogen-based, and metal hydrates are used as flame retardants. An impressive surge in motor vehicle production will boost the market growth over the forecast period.
The top leading vendors operating in the global flame retardant chemicals market are:
- Albemarle
- AkzoNobel
- BASF
- Chemtura
- Israel Chemicals
Other prominent vendors in the market include Clariant, DOW Chemical, Huber Engineered Materials, Italmatch Chemicals, LANXESS, and Nabaltec.
A more detailed analysis is available in the Technavio report titled, ‘Global Flame Retardant Chemicals Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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