16-Feb-2018 | Zion Market Research
The new report by the Zion Market Research on the “Global Halogen Free Flame Retardant Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024" has a vast information about the market and its potential.The global halogen-free flame retardant market was valued at more than 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 around 3,000 thousand tons in 2024 at a CAGR of more than 7% during forecast period.
Some of the key factors that would fuel the growth of the market include awareness for fire safety products among the end-user industries, increasing application of plastics in numerous industries along with several regulations led by the governing bodies on the use of halogenated flame retardants. End-user industries are replacing various metal materials with plastic components in their manufacturing process to reduce overall weight and reduce costs. However, plastic materials are more susceptible to catch fire as compared to metal components. Thus, halogen-free flame retardant chemicals are widely used to manufacture these plastic materials which are utilized in manufacturing industries.
Our research analysts observed that there will be an increasing demand for aluminum hydroxide flame retardant owing to its easy availability, non-toxicity and low cost. The major applications of aluminum hydroxide flame retardants are cables, rubber products, flame retardant wires, electrical arcing and carpet backing among others.
Browse the full "Halogen Free Flame Retardant Market, By Type (Aluminum Hydroxide, Organo- 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" report at https://www.zionmarketresearch.com/report/halogen-free-flame-retardant-market
In the type segment, aluminum hydroxide flame retardant holds major share. The aluminum hydroxide flame retardant dominated the market in 2016 with around 70% market share and is expected to maintain this trend over the forecast period. Factors like nontoxic nature, easy availability and low cost are driving the growth of aluminum hydroxide flame retardants. Moreover, aluminum hydroxide possesses the properties such as it absorbs a significant amount of heat and decomposable at 230° C. Aluminum hydroxide flame retardants are also used as fillers in various materials. Aluminum hydroxide acts as an effective smoke suppressant in a wide range of polymers, such as ethylene vinyl acetate, polyesters, PVC, acrylics, epoxies, and rubber.
In the end-user industry segment, building and construction dominate the global halogen-free flame retardant market. Majorly flame retardants are used in various construction materials which would increase the resistance of the materials before it catches fire, it lessens the rate of materials burn and minimize the extent of flames. Flame retardants are mostly used in cables, electrical wires and structural elements of building materials. Building & construction industry is witnessing predominant growth in recent times. This is mainly attributed to urbanization, ever-increasing population and economic development. The global construction industry is expected to reach over USD 11 trillion by 2024 with a CAGR of 5%, with China, India, and the US, accounting for almost 50% of the global growth. Furthermore, the construction sector in the Middle East is likely to develop significantly due to considerable investments in infrastructure development in Qatar, Saudi Arabia, and UAE. Electrical & electronics is expected to emerge as the fastest growing segment in the halogen-free flame retardant market over the forecast period. Halogen-free flame retardants are widely utilized in Electrical and Electronics Industry to prevent fire or sparks in products such as consumer electronics, communication and information technology equipment, electrical appliances, and electrical parts. Electrical & electronics industry is one of the most booming industries across the globe. The increasing demand for electronics attributed to the improved government regulations to attain fire safety in electronics products.
In the application type segment, the polyolefin is dominating the halogen-free flame retardant market. Polyolefin is the most widely used polymer and has a wide range of applications in all industries which has boosted its demand. The wide application range of polyolefin in electrical wires and cables, roofing, and automotive parts is expected to drive the halogen-free flame retardant market. Polyethylene and polypropylene also possess the fire resistance properties. Thus, these polymers are extensively used in packaging, circuit boards, and wires & cables among others which have higher resistance to fire.
North America dominated the halogen-free flame retardant market in 2016 followed by Europe. The implementation of new environmental legislation in Europe and North America had led to a huge growth of the halogen-free flame retardant market in these regions. The Asia Pacific is expected to be the fastest growing region over the forecast period. The rapidly growing construction industry in China and India along with the sharp rise in electrical & electronics industry in this region is expected to fuel the halogen-free flame retardant market in upcoming years.
The major market players in the halogen-free flame retardant market are BASF SE, LANXESS AG, Clariant, and Albemarle Corporation among others.
The global halogen-free flame retardant market is segmented on the basis of the type, end-user industry, application type, and the geographical regions.
Global Halogen Free Flame Retardant Market: Type SegmentAnalysis
Global Halogen Free Flame Retardant Market: End-User Industry Segment Analysis
Global Halogen Free Flame Retardant Market: Application Type Segment Analysis
Global Halogen Free Flame Retardant Market: Regional Segment Analysis
Browse New Press Release: https://www.zionmarketresearch.com/news/halogen-free-flame-retardant-industry
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