Flame retardant chemicals are most saliently used in the plastic industry. Since the use of plastic is widespread in many end-user industries and all the carbon-based materials are combustible, there is an immense need to decrease the risk of fire-related accidents. Non-halogenated or halogen-free flame retardants have significantly gained popularity with an increase in the number of regulations and restrictions over the usage of brominated flame retardants. Thermal stability and non-toxic nature of the phosphorous non-halogenated flame retardants are used in the form of polycarbonates, polyesters, and polyamides.Nofia flame retardants is an outstanding synergist in brominated flame retardant products and are experiencing massive demand as it is cost-effective and light-weight. Owing to these factors, as of 2018, the global [FURL=https://www.industryarc.com/PressRelease/1997/Flame-Retardant-Chemicals-Market-Research.html]Flame Retardant Chemicals Market[/FURL] size evaluated to be 32.5 billion. The demand for the same is poised to rise at a CAGR of 5.8% during 2019-2025.APAC Region Dominating the Flame Retardant Chemicals Market
APAC is leading the flame retardant chemicals market with a regional share of 41.5% as of 2018. Infrastructural activities are continuously growing in the countries in the ASEAN countries such as China and India, which is developing the structural elements, insulation, electric wires, and cables demand. In addition to this, according to the Global Systems for Mobile Communications (GSMA), APAC’s mobile industry is expected to contribute $1.9 trillion, which is 5.3% of the region’s GDP by the end of 2023. As of 2018, China contributed 1.2 billion unique mobile subscribers with over 97% of these coming from Mainland China, out of which 69% were smartphones. The availability of low-cost electronics substitutes and low-cost labor, the demand for electronic products is increasing, which is also booming the flame retardant chemicals market growth.
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The Major Frontrunners in the Market
Some key players dominating the flame retardant chemicals market are J. Clariant AG, Dow Chemical Company, BASF SE, Huntsman Corporation, Nippon Carbide Industries Co. Inc., Lanxess AG, Du Pont, Akzo Nobel N.V, Albemarle Corp., and J.M. Huber Corporation. Many companies are introducing new products to increase their market presence or entering into strategic mergers and acquisition, joint ventures, and partnerships.
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