Non-Halogenated Flame Retardants Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018
A new report titled “Non-Halogenated Flame Retardants Market for Polymers - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018” published by Transparency Market Research covers the overall market study of the global non-halogenated flame retardant market for polymers.
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The report states that the demand for non-halogenated flame retardants was 1,077.8 kilo tons in 2011 and is however, expected to reach 1,730 kilo tons in 2018. The market is growing at an impressive CAGR of 7.1 % from 2012 to 2018. Considering the non-halogenated flame retardants market in terms of revenue, the overall market was valued at US$1.26 billion in 2011 and is expected to reach US$2.15 billion in 2018. In terms of volume, the market growth is marked at a CAGR of 8.1% from 2012 to 2018.
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Halogenated retardants are considered toxic. Owing to such reasons several end-use industries are now shifting to the use of non-halogenated flame retardants. Flame retardants are popularly used as additives in polymers in order to increase the fire resistance during fire accidents or in case of ignition. Citing this is as one of another key growth factor for the global demand for non-halogenated flame retardants, the drive by fire safety regulations regarding risk of fire hazards in various end-use industries including construction and electrical has boosted the market too. Moreover, increasing polymer usage in multiple industries is also leading to high demand for flame retardant polymers.
However, certain issues in functional properties like loading levels and setbacks in cognitive operations of non-halogenated flame retardants are growth restraining factors expected to hinder the market growth in the coming years.
The non-halogenated flame retardant report is categorized based on key polymers such as epoxy resin, PVC, unsaturated polyester, UPE, rubber, polyolefin, Engineering Thermoplastic (ETP), styrenics and others (polyurethane, synthetic fibers, etc.). Transportation, textile, construction, electrical, furniture, among others are some of the major applications.
Worldwide, the construction industry widely utilizes the non-halogenated flame retardants for paints, coatings, building materials, wires and cable applications. The construction industry collectively accounted for 41.4% market share in 2012. Similarly, the electrical industry is growing at a CAGR of 7.6% for the period from 2012 to 2018 and is expected to be the upcoming fastest growing end-use industry due to the widespread use of non-halogenated flame retardants in electrical equipment.
Engineering Thermoplastic (ETP) retardant demand is expected to surge due to its estimated growth rate of 7.6% CAGR from 2012 to 2018, whereas, Polyolefins accounted for 23.1% share of the market in 2012 and is likely to grow at a moderate rate over the forecast period.
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Geographically, North America accounted for 41.8% of the global non-halogenated flame retardants market in 2012. This region was then followed by Europe and Asia Pacific which together accounted for 33.3% and 22.5% market share, respectively. Between the two, Asia Pacific is expected to be the fastest growing market for non-halogenated flame retardants due to the growth of major end-use industries in China and India.
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