PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515593
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515593
Textile Flame Retardants Market size was valued at USD 571.25 Million in 2023, expanding at a CAGR of 3.8% from 2024 to 2032.
It is projected that growing demands for flame-retardant textiles in end-use sectors like transportation, industrial production, and defense will propel the product's demand. Fire safety is a concern for governments everywhere. Fabrics and textiles are extremely combustible and prone to fire incidents in homes, businesses, the military, and the manufacturing sector because of the intricacy of their construction. By utilizing flame retardants, it is possible to limit the spread of fire and safeguard the surrounding area. A quicker escape time is made possible by the retarding qualities of flame retardants. Fire safety laws have been established in several nations, and makers of retardants are required to abide by them. The expansion of the product market is anticipated to be positively impacted by this trend. Flame retardants are chemicals that are used to retard flame propagation in textiles, plastics, building & construction, electrical & electronics, transportation, and defense applications. Flame retardants exhibit different chemical compositions and are classified into halogenated and non-halogenated retardants.
Textile Flame Retardants Market- Market Dynamics
Increased Awareness of Fire Hazards Driving the Demand for Textile Flame Retardants Market
The market for textile flame retardants has been driven in part by the growing awareness of fire hazards in recent years. Tragic incidents, such as fatal fires in hotels, public spaces, and residential structures, have brought attention to how urgently fire safety regulations must be improved to save lives. Because of this, companies, governments, and customers are now more aware of how critical it is to reduce fire risks and the possibility of losing people and property. The use of flame-retardant fabrics and other fire-resistant materials in a variety of applications has become more important as a result of this increased knowledge. Flame retardants, used in electronics manufacturing, prevent chemicals from leaching into the environment or posing health hazards to users. For instance, the India Brand Equity Foundation (IBEF) forecasts a 30% year-on-year growth in electronics manufacturing between 2020 and 2025, projecting an output increase of $163.14 billion, indicating a surge in flame retardant demand. Compliance with stricter fire safety standards and regulations, particularly in the building and construction industry, has become a key priority for businesses, driving the demand for flame-retardant textiles that meet the required safety standards.
Textile Flame Retardants Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.8% over the forecast period (2024-2032)
Based on type segmentation, halogenated was predicted to show maximum market share in the year 2023
Based on material segmentation, the polyester segment was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Textile Flame Retardants Market is segmented based on Type, Material, End Use Industry, and Region.
The market is divided into four categories based on Type: halogenated flame retardants, phosphorus-based flame retardants, nitrogen-based flame retardants, & others. Among that, the halogenated segment is anticipated the Textile Flame Retardants Market. halogenated flame retardants have emerged as the fastest-growing segment in the textile retardant market, driven by several key factors. Firstly, their robust fire-retardant properties make them highly effective across a wide range of textile applications, leading to increased adoption across various industries.
The market is divided into six categories based on Material: polyester, cotton, viscose, nylon 6, nylon 6, 6, and others. In terms of material, the Polyester segment is anticipated to grow at an important rate during the forecast period. Polyester appears as the textile retardant market sector with the fastest pace of expansion due to a number of critical growth variables. First of all, there exists a substantial demand for flame-retardant polyester fabrics across a multitude of sectors, encompassing clothing, home furnishings, and automotive interiors. Secondly, producers seeking flame-resistant fabrics without compromising on performance favors polyester due to its inherent qualities, including resilience to wrinkling, durability, and adaptability. Additionally, the escalating preference for synthetic fibers, such as polyester, driven by their affordability and ease of maintenance, further augments the necessity for flame-retardant polyester textiles.
Textile Flame Retardants Market- Geographical Insights
Geographically, It is anticipated that the textile flame retardants will be led by Asia Pacific. This is explained by the rise in demand for goods in China's transportation, industrial, and military sectors. However, because of its strong domestic consumption, it is predicted that a decrease in China's exports of clothing and textiles to developed economies in North America and Europe will open up more doors for rival nations such as Bangladesh, Vietnam, and Myanmar to increase their textile export shares. The main factors driving the demand for the product in India, China, Japan, and Australia among others are the region's expanding industrial and transportation activities, as well as low labor costs and cheap raw materials. Key mining companies are also increasingly inclined to expand in the region due to the region's abundance of mineral resources. The Asia Pacific product market is prompt by increased fire safety protocols, robust demand from end-user industries, advantageous government policies, and technological advancements in developing nations. When making the outfits for the mine personnel, flame retardants are employed.
Companies such as Albemarle Corporation, Archroma, Clariant AG, Dow Chemical Company, Albemarle Corporation, Thor Group Ltd., and Nabaltec AG have a high degree of integration across the value chain as they are also engaged in the production of flame retardants. These organization have established themselves as key manufacturers and focus on research and development for novel uses of the product. The global market for textile flame retardants is extremely competitive, with major international competitors focusing on the development of long-term relationships with end-users. The growing demand for flame retardant fabric has led to increased competition in the market. In order to sustain in the competitive environment, manufacturers are involved in adopting several strategic initiatives, including product capacity expansion, acquisitions, and broadening the geographical reach.
In August 2023, An agreement of understanding has been struck between FRX Innovations, a leading developer of sustainable polymeric flame-retardant additives, and LANXESS, a well-known German specialty chemicals business, and large flame retardant producer. The purpose of the agreement is to investigate prospects for cooperation in the creation and manufacturing of ecologically friendly flame-retardant materials.
In October 2020, A specialty chemical company begins constructing its second Flame Retardants production facility in China. The company's global footprint will be strengthened and the growing demand in the area will be satisfied by the growth. The facility demonstrates the company's dedication to providing clients in important areas with premium flame-retardant products.
GLOBAL TEXTILE FLAME RETARDANTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Gujarat State Fertilizers & Chemicals Ltd (GSFC)
Asahi Kasei Corporation
BASF SE
DOMO Chemicals
Ostchem
Fibrant
Shreeji Chemical
Jigchem Universal
Arihant Solvents & Chemicals
Qingdao Hisea Chem Co., Ltd.
LUXI Group
Taiwan Prosperity Chemical Corporation (TPCC)
Ube Industries, Ltd.
Honeywell International Inc
Shandong Haili Chemical Co., Ltd.
Shandong Hualu-Hengsheng
Asahi Kasei Corporation
Innova Corporate
Reliance Industries Limited
Clariant
Others
FIGUREProduct Type segment market share analysis, 2023 & 2032
FIGUREProduct Type segment market size forecast and trend analysis, 2019 to 2032 (USD Million)