Sunday, September, 15, 2019 01:43:10

Non Halogenated Flame Retardants Market Analysis 2024, Growth By Top Companies, Trends And Application, Industry Forecast

With immense application scope across the automotive sector, Non Halogenated Flame Retardants Market is undoubtedly anticipated to carve a positive growth chart over the coming years. Polymeric materials have been experiencing massive demand in automobiles since the past few years, driven by the deployment of polymers in vehicles as a substitute of steel to increase their aesthetic appeal, function ability, and fuel efficiency. The use of polymers results in reduction of vehicle weight almost up to 10% which ultimately results in fuel optimization. However, various toxicity concerns associated with the product may hamper the non-halogenated flame retardants market expansion over the years. To combat these restraints, market players have been heavily investing in R&D activities to manufacture environmentally viable polymers. As per a report by Global Market Insights Inc., “Non-halogenated flame retardants market is poised to exceed a revenue of USD 3.4 billion by the end of 2024, with a projected CAGR of 8% over 2016-2024.”

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Increasing investment in the construction sector coupled with stringent regulations towards fire safety will propel the industry outlook. Europe non halogenated flame retardants market is governed by regulations introduced by WEEE and REACH. WEEE directive 2012/19/EU aims to   substantially increase recycling capacity and cover additional group of products. Various parameters including toxicity, ecological effects and fire resistance capacity are considered before authorizing sales and distribution of fire suppressants.

Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.

Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.

North America non halogenated flame retardants market size, led by U.S., will surpass USD 1.3 billion in 2015. Federal government guidelines laid down by the Environment Protection Agency will stimulate sales of bio based products and limit brominated and chlorinated fire suppressors demand. In 2015, North America electrical industry used more than 100 kilos ton fire suppressants.

For Europe non halogenated flame retardants market size by phosphorous based retardants is expected to generate demand exceeding 120 kilo tons by 2024. Aluminum hydroxide is expected to grow over 8% by 2024, subject to wide application in industries including electronics, construction and electrical equipment.

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Middle East non halogenated flame retardants market share will witness growth over 9% by 2024 owing to large scale infrastructural development coupled with stringent regulations towards safeguarding construction activities. Asia Pacific non halogenated flame retardants industry is set to exceed USD 800 million by 2024, subject to rapid growth in construction industry. China accounted for over 40% of construction sector in the region in 2015. Latin America transportation industry witnessed demand surpassing 3 kilo tonnes by 2015 and will grow significantly over the forecast period.

Notable industry participants including Albermarle, Nabaltec, BASF, Israel Chemicals, Clariant, Chemtura, Italmatch Chemicals, and Huber. The companies integrate backwards to negate possible raw material scarcity. Industry players are increasingly focusing on broadening their product portfolio by adding fire suppressants with low toxicity made from magnesium hydroxide, melamine and phosphorus. Demand supply deficit of raw material may jeopardize non halogenated flame retardants market price.

Non Halogenated Flame Retardants Industry Insights

1    Industry Segmentation

2    Industry Size and forecast, 2013 – 2024

3    Industry ecosystem analysis

4    Industry Impact forces

4.1    Growth drivers

4.1.1  Positive regulatory outlook

4.1.2  Increasing plastic/polymers demand from transportation industry

4.1.3  Rising infrastructure and construction spending

4.2    Industry pitfalls & challenges

4.2.1  Performance deficiency against halogenated flame retardants

5    Growth potential analysis

5.1    Growth potential analysis – Non halogenated flame retardants

5.1.1  Nanotechnology adoption for product development

5.1.2  Rising electrical industry market penetration in APAC

6    Porter’s analysis

7    Non Halogenated Flame Retardants – Company Market Share Analysis, 2015

8    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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