Flame retardants refer to additives that are used extensively in polymers in order to enhance their fire resistance and delay the spread of fire in case of ignition. Flame retardants do not essentially make the polymer non-combustible but help in resisting fire. Polymers are used in diverse applications across industries such as building and construction, electronics, textiles, transportation, and others. As a result, the demand for flame retardants is projected to grow at a substantial rate around the world. Halogenated and non-halogenated are the two key types of flame retardants available in the global market.
Growing Demand from Diverse Industries to Drive Global Non-halogenated Flame Retardants Market
Non-halogenated flame retardant is a type of flame retardants that does not comprise halogen. This product type is efficient and environment-friendly in comparison with the other halogenated counterparts. As consumer awareness regarding the need to switch to environment-friendly products rises and the demand for cleaner products increases across the globe, the demand for global non-halogenated flame retardants market from several industries is also estimated to rise in the next few years. This will substantially augment the growth of the overall market in the near future. The global market for non-halogenated flame retardants is projected to register a 6.40% CAGR between 2015 and 2025.
The rising demand for polymer and favorable regulatory environment are the prime factors estimated to augment the growth of the global non-halogenated flame retardants market in the next few years. In the past few years, the emergence of nanotechnology in the development of innovative products has generated several opportunities for the leading players in the market. However, some concerns related to the performance of non-halogenated flame retardants, especially in plastic applications, affect the chemical and physical characteristics of the end products. These concerns are projected to curtail the growth of the overall market in the next few years.
Electrical and Electronics Segment to Register Robust Growth in Global Non-halogenated Flame Retardants Market
In terms of product, the global non-halogenated flame retardants market can be classified into phosphorous-based, metal oxide-based, nitrogen-based flame retardants, and others. Among these, the phosphorous-based segment is expected to witness robust growth in the next few years. This segment is anticipated to remain in the leading position in the near future as well and generate potential growth opportunities for the key players operating in the overall market.
Furthermore, in terms of end-use, the global market for non-halogenated flame retardants can be divided into electrical and electronics, construction, automotive, and others. In 2015, the construction segment led the global non-halogenated flame retardants market, holding a massive share. Nevertheless, this segment is anticipated to lose its dominance in the next few years. On the other hand, the electrical and electronics segment is estimated to witness substantial growth in the near future.
Asia Pacific Excluding Japan (APEJ) to Witness Robust Growth in Near Future
The non-halogenated flame retardants market has been classified on the basis of geography into Latin America, Asia Pacific Excluding Japan, North America, Eastern Europe, Western Europe, Japan, and the Middle East and Africa. In 2015, North America was the dominant region in the global market; however, the Asia Pacific Excluding Japan regional segment is projected to grow at a fast pace in the next few years.
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Some of the most prominent players operating in the non-halogenated flame retardants market across the globe are Amfine Chemical Corporation, Clariant International Limited, Nabaltec AG, THOR Group Ltd., Israel Chemical Limited, Huber Engineered Material, Chemtura Corporation, Albemarle Corporation, Italmatch Chemicals S.p.A, and FRX Polymers Inc.