Reportocean.com “Halogen Free Flame Retardant Market” report has been added to its Research Database.
Halogen Free Flame Retardant Market By Type (Aluminum Hydroxide, Organic- Phosphorous and Other Type), By Application Type (Polyolefin, Epoxy Resins, Polyvinyl Chloride (PVC), Unsaturated Polyester (UPE), Rubber, Engineered Thermoplastics (ETP), Styrenics and Others), For End User (Building and Construction Industry, Electrical and Electronics Industry, Transportation Industry, Wires and Cables Industry and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024
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The report covers forecast and analysis for the halogen free flame retardant market on a global and regional level
The report includes the positive and the negative factors that are influencing the growth of the market
Detailed information about the market opportunities are discussed
The key target audience for the market has been determined in the report
The revenue generated by the prominent industry players has been analyzed in the report
The demand for halogen-free flame retardants in terms of volume has been analyzed in the report
The market numbers have been calculated using top-down and the bottom-up approaches
The halogen-free flame retardant market has been analyzed using Porters Five Forces Analysis
The market is segmented on the basis of type, end-user industry, application type, which in turn bifurcated on a regional level as well
All the segments have been evaluated based on the present and the future trends
The report deals with the in-depth quantitative and qualitative analyses of the halogen-free flame retardant market
The report includes detailed company profiles of the prominent market players
The report provides key trends and key takeawaysobserved in the market
The global halogen-free flame retardant market is a part of the Global Flame retardant chemicals industry. Flame retardants are a key component in reducing the devastating impact of fires. Flame retardants are generally added to or treat potentially flammable materials such as textiles and plastics. Halogen-containing compounds with trioxide are synergistic agents. Thus, the use of halogen-containing flame retardants is limited due to corrosive smoke during combustion along with the evolution of toxic gases. Halogen-free compounds are considered as prominent flame retardant due to their environmentally friendly properties.
Value and Volume
The global halogen-free flame retardant market was valued at around USD 3,000 million in the year 2016 and it is expected to reach more than USD 6,900 million by 2024. The global halogen-free flame retardant market is expected to exhibit a CAGR of more than 8% between 2017 and 2024. In terms of volume, the demand for halogen-free flame retardant is expected to reach around3,000 thousand tons in 2024 at a CAGR of more than 7% from 2017 to 2024.
Drivers and Restraints
The major factor driving the growth of the halogen-free flame retardant market is the rising adoption of environmentally friendly flame retardants across various industries.
Implementation of new environmental regulations imposed by the government on the use of halogenated flame retardants is expected to spur the growth of halogen-free flame retardants market.
Stringent regulations on fire regulations are expected to aid the halogen-free flame retardant market growth.
Increasing activities and investment in the construction sector in developing economies coupled with anticipated growth in the electronics industry in the years to come to provide ample opportunities for players operating in the halogen-free flame retardant market.
Aluminum hydroxide held the largest market share in the halogen-free flame retardant market in 2016 and is expected to continue its dominance over the forecast period. Aluminum hydroxide comprises of diverse properties such as it absorbs a significant amount of heat and decomposable at 230 C. Aluminum hydroxide are used as fillers in several end-user industries owing to its easy availability and lower prices. Organic- Phosphorous is expected to experience decent growth in the upcoming years to come. Other types include magnesium hydroxide, nitrogen, zinc, and borates.
Halogen-free flame retardants are used in various end-user industries such as building construction, electrical electronics, transportation industry, and others. Building construction industry dominated the halogen-free flame retardant market in 2016. Plastics are majorly used in the building and construction industry owing to their high durability, strength, and ease of cleaning and repairing. Halogen-free flame retardants are added to plastics, coatings, and textiles to prevent or delay the spread of fire. The electrical electronics industry is expected to be the fastest growing segment owing to the use of flame retardant materials in electrical connectors, circuit boards and electrical cabinets and enclosures to ensure fire safety.
Polyolefin is the most widely used polymer and has a wide range of applications in all industries which has boosted its demand. Polypropylene is highly flammable at room temperature and leaves no char. Polypropylene is mostly used in packaging, circuit boards, and wires cables and others.
North America accounted for the largest market share in the global halogen-free flame retardant market in 2016. Europe held the second largest market share in 2016 in the total halogen-free flame retardant market. Asia Pacific is expected to be the fastest growing region owing to rapidly growing industrialization and urbanization in India and China. The construction industry in China is witnessing prominent growth in recent times. A sharp rise in the electrical electronics industry in this region is expected to fuel the halogen-free flame retardant market in upcoming years.
The report includes detailed profiles of the prominent market players that are trending in the global halogen-free flame retardant market. The list of the players that are compiled in the report are Huber Engineered Materials, Albemarle Corporation, Akzo Nobel N.V., Clariant, Israel Chemicals Limited, Italmatch Chemicals, LANXESS AG, Nabaltech AG, and BASF SE among others
The prominent market players maintain the competitive edge in the global market by spending more on research and development activities to bring innovative solutions for diversified industries. The leading players in the Halogen Free Flame Retardant Market are striving to bring down the prices further and bring in new innovative formulations into the market.
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