Flame Retardants Market to Surpass $12,028.4 Million Revenue by 2030, Says P&S Intelligence

NEW YORK, July 19, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the size of the flame retardants market was $7,565.1 million in 2021. This figure will increase to $12,028.4 million by 2030, at a growth rate of above 5% during this decade. This has a lot to do with technological advancements, increasing research and development activities, and growing end-use industries. Furthermore, the increasing stringency of the regulations on fire safety in different nations propels the growth of the market.

The highest demand in the flame retardants market was generated by the building & construction industry, which held about 40% of the revenue share, in the year 2021. The growing infra activities in countries such as China and India drive the requirement for these chemicals. For example, infrastructure activities in APAC are propelled by many government initiatives, such as the Smart City Mission and PMAY scheme in India, and the Chinese Belt and Road Initiative.

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The higher revenue was generated by non-halogenated flame retardants in the year 2021, and this category will grow with a rate of over 5%. The main reason for this is that these chemicals show excellent flame retardancy, thermodynamic characteristics, and smoke suppression, which is why they are an ideal fit for anti-fire purposes in many industries.

The electrical & electronics industry will showcase the highest growth rate, of nearly 6%, in the flame retardants market in the coming years. This will be due to the swelling use of plastics in the manufacture of electronic components and growing consumption of insulation on products for fire risk reduction and consumer safety. Flame retardants offer augmented resistance to internal and external sources of heat, particularly to electrical wires and cables.

In 2021, APAC garnered the largest revenue share, of about 50%, and it will have the greatest revenue in the near future as well. This is mainly due to the rapidly growing industrial sector and infra development. Additionally, this region is the biggest manufacturer of electronics around the globe, accounting for 70–75% of the total production. Japan, South Korea, and China produce a wide variety of electrical components and supply them to numerous industries worldwide.

Browse detailed report on Global Flame Retardants Market Analysis and Growth Forecast Report 2030

China generates the highest demand for flame-resistant materials in the APAC flame retardants market as it is the major industrial base for electrical & electronic apparatus. Moreover, the momentous developments in the commercial and residential construction sectors and transportation & automotive sector in the nation have been pushing the consumption of materials that do not catch fire.

Flame Retardants Market Report Coverage

By Type

• Halogenated
• Brominated compounds
• Chlorinated compounds
• Non-Halogenated
• Inorganic
• Aluminum hydroxide
• Magnesium hydroxide
• Boron compounds
• Phosphorus
• Nitrogen

By End-Use Industry

• Buildings & Construction
• Electrical & Electronics
• Automotive & Transportation
• Textiles & Furniture

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• APAC
• China
• India
• Japan
• Australia
• South Korea
• LATAM
• Brazil
• Mexico
• MEA
• Saudi Arabia
• South Africa

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