Global Halogen-Free Flame Retardants market outlook 2024, Forecast To 2033
4 Mar, 2024
The halogen-free flame retardants market has experienced rapid growth, rising from$5.25 billion in 2023 to$5.82 billion in 2024, with a compound annual growth rate (CAGR) of 10.8%. Historical drivers include environmental concerns, safety standards, consumer preferences, growth in the construction industry, awareness in the textile industry, and research and development initiatives. Anticipated strong growth in the coming years will drive the market to$8.46 billion by 2028, propelled by increasing stringency of regulations, rising focus on the circular economy, growth in electrical and electronics (E&E) recycling, urbanization and infrastructure development, shift towards sustainable packaging, and health and safety awareness. Major trends in the forecast period include increasing focus on safety in construction materials, rising demand in electronics and electrical applications, innovation in product formulations, research and development in bio-based flame retardants, and collaborations and partnerships.
Global Halogen-Free Flame Retardants Market Key Driver
Growing health concerns regarding the use of halogen-based flame retardants because of the polluted environment are expected to propel the growth of the halogen-free flame retardants market going forward. Several regulations are being introduced for the growing concerns regarding human health through environmental pollution, which had resulted in the ban of several halogen-based flame retardants across the world, and as a result, increases the demand for the halogen-free flame retardants market. For example, in February 2020, the European Union, a Europe-based supranational political and economic union (EU), approved Regulation (EU) 2019/2021, a set of rules. As of March 1, 2021, halogenated flame retardants were also prohibited from being used in plastic enclosures and stands for electronic displays. Therefore, growing health concerns regarding the use of halogen-based flame retardants because of the polluted environment drive the growth of the halogen-free flame retardants market. In 2023, the market size for halogen-free flame retardants is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Halogen-Free Flame Retardants Market ReportGlobal Halogen-Free Flame Retardants Market Segments
The global halogen-free flame retardants market covered in this report is segmented –
1) By Type: Aluminum Hydroxide, Organophosphorous, Other Types
2) By Application: Polyolefins, Epoxy Resin, Unsaturated Polyester, Polyvinyl Chloride, Rubber, Engineered Thermoplastic, Styrenics, Other Applications
3) By End User: Textile, Transportation, Wires And Cables, Electrical And Electronics, Building And Construction
By Geography: The regions covered in the halogen-free flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the halogen-free flame retardants market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the halogen-free flame retardants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Halogen-Free Flame Retardants Industry Players
Clariant AG, LANXESS, J.M. Huber Corporation, Israel Chemicals Limited, Nabaltech AG, BASF SE, Italmatch Chemicals s.p.a., Dupont De Nemours Inc., Albemarle Corporation, Akzo Nobel N.V., Chemtura Corporation, DSM N.V., FRX Polymers Inc., Greenchemicals SpA, ICL Industrial Products, Jiangsu Yoke Technology Co. Ltd., Kisuma Chemicals, Kyowa Chemical Industry Co. Ltd., Lanpoly Chemical Industrial Co. Ltd., Nippon Carbide Industries Co. Inc., Oceanchem Group Limited, Sinochem Group, Sumitomo Chemical Co. Ltd., Thor Group Limited, Tosoh Corporation, Zhejiang Wansheng Co. Ltd., Presafer Uluslararasi A.S., Budenheim Iberica S.L., Aurum Chemicals Corporation, AGC Chemicals Americas Inc.
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Halogen-Free Flame Retardants Market Overview
Halogen-free flame retardants refer to a substance that lacks a certain group of halogen elements and is said to be halogen-free (fluorine, chlorine, bromine, iodine, and astat). In addition to poisonous gases that are hazardous to people, these fire components also cause metals to corrode.
Halogen-Free Flame Retardants Global Market Report 2023 provides data on the global halogen-free flame retardants market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The halogen-free flame retardants market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.