The market for non-halogenated flame-retardant chemicals is expected to grow at a CAGR of over 5% during the forecast period. Major factors driving the market studied are the increasing consumer demand for electrical & electronic products across the world.
New York, March 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-Halogenated Flame Retardant Chemicals Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05877789/?utm_source=GNW
The non-suitability of hydroxides to high temperatures may hinder the market.
- Environmental and health concerns regarding brominated and other flame retardants are also expected to drive the market during the forecast period.
- Increasing legislation banning of halogenated flame retardants is likely to act as an opportunity in the future.
- Europe is expected to dominate the market across the globe. While, Asia-Pacific region is likley to witness the fastest growth during the forecast period.
Key Market Trends
Increasing Demand from the Buildings and Construction Industry
- Household fires are one of the primarily causes for the loss of human life. Non-halogenated flame retardants are used in building materials and products, primarily due to strict fire safety regulations. In buildings, flame retardants are majorly used in structural insulation. Insulations are used in homes and other buildings, in order to maintain comfortable temperature, while conserving energy.
- The major insulation materials include polystyrene foam boards and rigid polyurethane foam panels. Moreover, non-halogenated flame retardants find major applications in polyolefin foams. They are used in buildings, primarily in the HVAC applications, such as sound insulation and thermal insulation for pipes.
- Globally, various fire standards are driving the market for non-halogenated flame retardants. With the increasing environment concerns related to the use of flame retardants, the applications for non-halogenated flame retardants have been increasing significantly.
- Phosphorus-based flame retardants are mostly used non-halogenated flame retardants in polyurethane foams, especially in liquid substances. The flame retardants used for rigid PU foams are available in three forms, such as additive liquid flame retardants, reactive liquid flame retardants, and solid flame retardants.
- The global construction industry is growing at a healthy rate, where the Asia-Pacific and Middle East & African regions are witnessing huge investment in the construction sector due to numerous market opportunities available in these markets, along with the increasing demand for residential houses and the growing population.
- Thus, all the aforementioned factors are expected to drive the demand for non-halogenated flame retardant chemicals, during the forecast period.
Europe to Dominate the Market
- Europe region is expected to dominate the global market. The German economy is the largest in Europe, and fifth in the world.
- The German electronic industry is the Europe’s biggest, and the fifth largest worldwide. The electrical and electronics industry accounted for more than 10% of the total German industrial production and about 3% of the country’s gross domestic product (GDP). Moreover, the electrical and electronics industry accounted for around 23% of the entire FDI of the country.
- The German automotive industry accounted for approximately 20% of the total revenue of the German industries. Germany accounted for approximately 30% of the total passenger cars manufactured in the European region. Sixteen of the world’s 100 top automotive suppliers are based in Germany.
- The country’s world-class R&D infrastructure and complete industry value chain integration create a well-established automotive environment. This enables companies to develop and adopt cutting-edge technologies. The country also has the largest number of OEM plants in Europe, with 41 assembly and engine production plants that contribute to one third of the total automobile production in Europe.
- The German aerospace industry witnessed a substantial growth over the past two decades. The Federal Ministry of Economic Affairs and Energy lists aerospace as a key industry in Germany, with high growth rates and a strong industrial core.
- Owing to all the aforementioned factors, the maret for non-halogenated flame retardant chemicals is projected to grow in the region during the forecast period.
The global non-halogenated flame retardant chemicals market is consolidated in nature, with the top five players accounting for a significant share in the global market. The major companies include Nabaltec AG, Huber Engineered Materials, BASF SE, and ICL, among others.
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