The global market for non-halogenated flame retardants is expected to reach USD 2.54 billion by 2020, according to a new study by Grand View Research, Inc. Concern for human health and environment has led to many countries banning halogen based flame retardants. These regulations and legislations are key factors positively affecting the demand for halogen free retardants. Polymers are being increasingly used in many end use industries such as automotive, electrical, construction, etc. Increased use of polymers has given a significant rise to risk of fire accidents. Extensive use of non-halogenated flame retardants for countering these instances will lead to its increased demand and eventual market growth. The estimated CAGR for market revenue is 8.2%. However, issues with processing of these materials are expected to be a challenge for market participants.
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Further key findings from the study suggest:
- The global market for non-halogenated flame retardants is expected to reach 2013.9 kilo tons, growing at an estimated CAGR of 7.3% from 2014 to 2020 in terms of volume.
- Phosphorous based retardants are expected to generate over 50% of the overall market revenue, growing at an estimated CAGR of 8.3% till 2020. It is also estimated to be the fastest growing segment in revenue terms.
- Construction is leading non-halogenated flame retardants end use segment in terms of revenue, however its estimated CAGR of 7.9% is the lowest.
- North America was a dominant consumer of non-halogenated flame retardants in 2013 with over 40% volume share and is expected to continue this trend with a CAGR of 7%, below the consolidated industry CAGR of 7.3%.
- Market structure is fragmented with a number of players accounting for more than 60% of the market share.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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