by The Non-Halogenated Flame Retardant Market is estimated to be valued at US$ 4.2 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Non-halogenated flame retardants are commonly used additives in plastics, textiles, coatings and other materials. They help slow or prevent the spread of fire by releasing water, carbon dioxide or other inert gases when heated. Common examples include aluminum trihydrate, magnesium hydroxide, organophosphorus flame retardants and nitrogen containing compounds. Their usage is growing due to stringent fire safety norms and increasing preference for eco-friendly alternatives to halogenated flame retardants which can release toxic smoke in a fire.
Market Dynamics:
Increasing demand for bio-based and environment friendly products is a key driver for the non-halogenated flame retardant market. Stringent regulations against use of brominated flame retardants (BFRs) and chlorinated flame retardants (CFRs) due to environmental and health concerns have boosted research and development of safer alternatives. For example, the European Union banned use of BFRs and CFRs in electrical and electronic equipment. Additionally, growth in industries such as automotive, construction and aerospace which requires compliance with strict fire safety standards also promotes the usage of non-halogenated flame retardants in materials and components.
Segment Analysis
The global non-halogenated flame retardant market is segmented into aluminum hydroxide, magnesium hydroxide, organophosphorus flame retardants, and others. The aluminum hydroxide segment accounts for the largest market share and is expected to maintain its dominance over the forecast period. Aluminum hydroxide is widely used as a flame retardant due to its low cost, effectiveness, and low smoke and toxicity properties. It helps provide safe and durable insulation in wires and cables.
PEST Analysis
- Political: Flame retardant regulations are becoming stricter globally to increase fire safety of materials. The EU has banned certain halogenated flame retardants due to health and environmental concerns.
- Economic: The growing construction, automotive, and electronics industries will drive demand for insulation and wiring materials, spurring growth of the non-halogenated flame retardant market.
- Social: Increasing awareness about fire safety and stringent safety standards are prompting industries to use non-toxic and eco-friendly flame retardants.
- Technological: Manufacturers are developing new organic phosphorus and aluminum-based compounds with better properties like higher efficiency at lower loading levels.
Key Takeaways
The global non-halogenated flame retardant market is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing safety regulations and sustainability initiatives. The market size for 2023 is projected to reach US$ 4.2 Mn.
North America is expected to dominate the global market over the forecast period. Strict flame retardant laws in the US and rising construction activities are driving regional growth.
Key players operating in the non-halogenated flame retardant market are Clariant International Limited, Albemarle Corporation, Israel Chemical Limited, Italmatch Chemicals S.p.A, Chemtura Corporation, Nabaltec AG, FRX Polymer Inc, Huber Engineered Material, Amfine Chemical Corporation, and THOR Group Ltd. Key players are focusing on new product launches and capacity expansions to meet the growing demand.
