Global halogen-free flame retardant is expected to rise from its initial estimated value of USD 4.31 billion in 2018 to an estimated value of USD 8.24 billion by 2026, registering a CAGR of 8.44% in the forecast period of 2019-2026. This rise in market value can be attributed to the concerns of the materials utilized and regulations posted by the authorities.
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Market Definition: Global Halogen-Free Flame Retardant Market
Halogen-free flame retardants are other compounds or materials that are mixed with the different end-use materials such as textiles, plastic, paints and coatings to make the products flame resistant. Halogen-free compounds are majorly used due to their enhanced chemical properties as usage of halogen causes corrosive smoking during combustion.
- Increasing adoption of environment friendly flame retardants due to the regulations posed by the authorities is expected to drive the market growth
- Regulations & safety measures regarding fire safety is also expected to act as a driver for the market growth
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- Concerns for the loading levels of and restraints in the operations of products due to its usage is expected to act as a restraint to the market growth
Segmentation: Global Halogen-Free Flame Retardant Market
- By Type
- Aluminum Hydroxide
- Organo-Phosphorus Chemicals
- Magnesium Hydroxide
- By Application
- Epoxy Resins
- Unsaturated Polyesters (UPE)
- Poly-Vinyl Chloride (PVC)
- Engineering Thermoplastic (ETP)
- By End-Use Industry
- Electrical & Electronics
- Building & Construction
- By Geography
- North America
- South America
- Rest of South America
- North America
Key Developments in the Market:
- In April 2017, LANXESS announced that they had completed the acquisition of Chemtura. With this acquisition LANXESS has acquired the global leader of flame retardant and associated lubricants.
- In February 2016, J.M. HUBER CORPORATION announced they had completed the acquisition of Martinswerk brand of Albemarle Corporation. With this acquisition HUBER has enhanced its product and services portfolio for fire retardants.
Competitive Analysis: Global Halogen-Free Flame Retardant Market
Global halogen-free flame retardant market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of halogen-free flame retardant market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Halogen-Free Flame Retardant Market
Few of the major competitors currently working in the halogen-free flame retardant market are J.M. HUBER CORPORATION, Clariant, LANXESS, Albemarle Corporation, ICL, Nabaltec AG, BASF SE, Akzo Nobel N.V., Italmatch Chemicals S.p.A., Dongying Jingdong Chemical Co. Ltd., Kisuma Chemicals, RTP Company, Amfine Chemical Corporation, Arkema, KPL International Limited, and Axipolymer Incorporation.
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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