Flame retardants are chemicals added to various materials in order to reduce their tendency to ignite and slow the fire. They are used in electrical appliances such as electronics equipment, automobiles and certain building products. Flame retardant levels in buildings and homes can be lowered by using polyurethane rather than polystyrene foam insulation.
Negative effect of Flame Retardant on Health Likely to Hamper Market Growth
The use of flame retardants has come under scrutiny in recent years, as concerns have arisen about their potential health effects. Some flame retardants have been linked to cancer, reproductive problems and neurological disorders. In addition, they can be toxic to aquatic life. Because of these concerns, there is growing demand for flame retardant-free products. Some companies are now offering flame retardant-free furniture, textiles and other products. The furniture industry has seen the greatest increase in demand for flame retardant-free products, as consumers become more aware of the dangers of these chemicals. There is also a growing market for organic cotton products, which do not contain any flame retardants.
Growing Inclination Towards Environment-Friendly Flame Retardants
Global flame retardant market is witnessing a considerable growth in the demand for environment friendly flame retardant chemical products as people are becoming more aware of the need to protect the environment. These products are made from natural ingredients and are non-toxic, making them safer for both people and the environment. Many of these products are also biodegradable, meaning they will break down quickly and not leave any harmful residues behind. This makes them a better choice than traditional chemical fire retardants, which can be toxic and harmful to both humans and the environment.
Environment friendly fires safety chemical products are ideal for use in a variety of applications, including homes, schools, hospitals, and office buildings. They can be used to put out small fires or to prevent them from starting in the first place. In addition, they can be used to protect furniture, carpets, and other belongings from damage in the event of a fire.
Stringent Government Regulation Regarding Fire Safety
With the growing awareness regarding fire safety, commercial and residential users have started using fire retardant chemicals across various products such as electrical appliances, furniture, offices, kitchenware, among others. The demand for fire retardant chemicals has significantly risen in the last few years and they are used in all types of surface regions such as walls, carpets, textiles, papers, and paints.
The global flame retardant market is expected to rise at a steady pace due to the use of these chemicals across various applications. Further, most countries across the world have started enforcing stricter fire safety norms, which will make people conscious about better living standards and use quality products that support good health conditions. With most residential and commercial buildings aiming towards sustainable development it is highly likely that they would opt for environmentally friendly fires safety chemical products which can prevent fires from spreading rather than extinguish them once they occur. This trend is expected to drive demand for flame retardant chemicals in the market.
Aluminum Hydroxide to Continue Leading Flame Retardant Market
The automotive industry is the largest consumer of aluminum hydroxide. Aluminum hydroxide is used in the production of various types of automotive parts and components. The use of aluminum hydroxide as a flame retardant in the automotive industry is growing rapidly. This is because it can help reduce the flammability of materials and components. Aluminum hydroxide is also used in the production of batteries. Batteries are an important component of many electronic devices, including laptops and smartphones. The use of aluminum hydroxide as a flame retardant in battery production can help improve safety and reduce the risk of fire, which further driving growth of the flame retardant market. Apart from this, the product is majorly preferred in construction industry as one of the key construction materials such as insulation panels and roofing materials, which can be made more fire-resistant with the addition of aluminum hydroxide. This can help prevent fires from spreading and causing damage to buildings.
Regional Outlook of Global Flame retardant market
Asia Pacific is the leading region in terms of demand for both brominated and chlorinated flame retardants (FRs) and accounting for over half of the global demand. The region's market share has risen above 50% in 2021 and is projected to continue dominating the demand throughout the forecast period. The regional demand is mainly attributed to China as it is one of the biggest consumers and producers of flame retardants. China alone accounted for over 25% of all FR demand in Asia Pacific. Moreover, the growth is majorly driven by rapidly expanding construction, automotive, and electrical & electronics sectors. The stringent regulations for safety against fire accidents in various countries including China and Japan are fueling the demand for these chemicals in the region. Additionally, rapid industrialization and urbanization in developing economies such as India and Indonesia are also contributing to the regional flame retardant market.
The North America is the second largest flame retardant market. The region has a well-established infrastructure and strong manufacturing base, which is supporting the growth of the market. Additionally, stringent regulations for safety against fire accidents are fueling the demand for fire retardant chemicals in this region.
Some of the key producers in the global flame retardant market are DSM, LANXESS, Clariant, BASF SE, Abermarle Corp., ICL, and DuPont.
Key Elements Included In The Study: Global Flame Retardant Market
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