PUBLISHER: The Business Research Company | PRODUCT CODE: 1425519
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425519
Halogen-Free Flame Retardants Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on halogen-free flame retardants market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for halogen-free flame retardants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The halogen-free flame retardants market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Halogen-free flame retardants are substances devoid of specific halogen elements like fluorine, chlorine, bromine, iodine, and astatine, which are known to generate toxic gases and cause corrosion in metals when exposed to fire.
The primary categories of halogen-free flame retardants include aluminum hydroxide, organophosphorus, and others. Aluminum hydroxide, a naturally occurring mineral, exists in various forms such as white, gelatinous, or crystalline hydrates of alumina. These compounds find applications across polyolefins, epoxy resins, unsaturated polyester, polyvinyl chloride, rubber, engineered thermoplastics, styrenics, and more. They are utilized by diverse industries like textiles, transportation, wires and cables, electrical and electronics, building and construction, among others.
The halogen-free flame retardants market research report is one of a series of new reports from The Business Research Company that provides halogen-free flame retardants market statistics, including halogen-free flame retardants industry global market size, regional shares, competitors with a halogen-free flame retardants market share, detailed halogen-free flame retardants market segments, market trends and opportunities, and any further data you may need to thrive in the halogen-free flame retardants industry. This halogen-free flame retardants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The halogen-free flame retardants market size has grown rapidly in recent years. It will grow from $5.25 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. Historical growth can be attributed to increasing environmental concerns, the emphasis on safety standards, evolving consumer preferences, growth within the construction industry, heightened awareness in the textile sector, and the impact of research and development initiatives.
The halogen-free flame retardants market size is expected to see strong growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth in the forecast period is driven by stricter regulatory measures, a growing emphasis on the circular economy, the expansion of electrical and electronics (E&E) recycling, urbanization and infrastructure development initiatives, the transition towards sustainable packaging, and increased awareness regarding health and safety concerns. Major trends expected during this period encompass an amplified focus on safety within construction materials, a surge in demand for electronics and electrical applications, innovations in product formulations, extensive research and development in bio-based flame retardants, and the fostering of collaborations and partnerships within the industry.
The growing health concerns associated with halogen-based flame retardants and their impact on the environment are anticipated to be key drivers for the expansion of the halogen-free flame retardants market. Regulatory measures, such as the European Union's Regulation (EU) 2019/2021, prohibiting the use of halogenated flame retardants in specific applications, reflect a global trend towards adopting safer alternatives. This regulatory landscape is stimulating the demand for halogen-free alternatives in various industries.
Moreover, the aerospace industry, focused on sustainable practices and environmental impact reduction, is increasingly embracing halogen-free flame retardants. These alternatives are perceived as more eco-friendly compared to their traditional counterparts, aligning with the aerospace sector's sustainability goals. The projected significant growth in the global commercial aviation business, as forecasted by the International Air Transport Association (IATA), further underscores the industry's expansion and the subsequent need for sustainable materials, including halogen-free flame retardants.
The halogen-free flame retardants market is witnessing a significant trend toward technological advancements, with key companies actively investing in research and development to introduce innovative products. For instance, BASF and THOR GmbH collaborated to introduce non-halogenated flame retardance additives, crucial components for various plastic and composite applications in transportation, construction, and industrial sectors. This partnership combines BASF's Flamestab halogen-free flame retardant with THOR's phosphonates AFLAMMIT technology, particularly beneficial for enhancing flame resistance in challenging polyolefin applications.
Moreover, major players are focusing on product innovation, introducing halogen-free flame-retardant (HFFR) grades containing recycled and biobased resin, catering to the rising demand for environmentally responsible solutions. Avient, for instance, launched sustainable Thermoplastic Elastomer (TPE) grades for USB-C cable jackets, specifically designed to meet high flame-retardant compliance while utilizing sustainable raw materials. These innovations in materials aim to address the growing need for eco-conscious products without compromising on performance or processing characteristics.
In December 2021, LANXESS, a renowned German-based chemical company specializing in chemical intermediates, additives, specialty chemicals, and plastics, successfully completed the acquisition of Emerald Kalama Chemical for $1.04 billion. This strategic acquisition signifies LANXESS's concerted effort to expand into lucrative high-margin segments within the specialty chemicals industry. Emerald Kalama Chemical is a Netherlands-based provider of specialty chemicals company, including halogen-free flame retardants.
Major companies operating in the halogen-free flame retardants market report are Clariant AG, LANXESS, J.M. Huber Corporation, Israel Chemicals Limited, Nabaltech AG, BASF SE, Italmatch Chemicals s.p.a., Dupont De Nemours Inc., Albemarle Corporation, Akzo Nobel N.V., Chemtura Corporation, DSM N.V., FRX Polymers Inc., Greenchemicals SpA, ICL Industrial Products, Jiangsu Yoke Technology Co. Ltd., Kisuma Chemicals, Kyowa Chemical Industry Co. Ltd., Lanpoly Chemical Industrial Co. Ltd., Nippon Carbide Industries Co. Inc., Oceanchem Group Limited, Sinochem Group, Sumitomo Chemical Co. Ltd., Thor Group Limited, Tosoh Corporation, Zhejiang Wansheng Co. Ltd., Presafer UluslararasI A.S., Budenheim Iberica S.L., Aurum Chemicals Corporation, AGC Chemicals Americas Inc.
North America was the largest region in the halogen-free flame retardants market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the halogen-free flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the halogen-free flame retardants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The halogen-free flame retardants market consists of sales of phosphorus-based halogen-free flame retardants and magnesium hydroxide-based halogen-free flame retardants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.