Increasing applications in the aerospace, defense, electrical and electronics, wire and cable, pipe and tank, transportation, building and construction, and marine sectors.
The global Flame-Retardant Plastics Market size was USD 46.26 Billion in 2021 and is expected to register a revenue CAGR of 3.7% during the forecast period. Rising demand for thermoplastics to reduce carbon emission, rising demand for flame retardant plastics in electrical and electronics sectors, high demand to reduce fire hazards in automotive and construction industries, and rising demand for non-halogenated polymers are the key factors driving the revenue growth of the market.
Flame retardants are chemical compounds that are used to prevent or delay the ignition/burning of Plastic. To avoid combustion, it is required to create a thermally stable polymer that is less likely to decompose into combustible gases when subjected to heat stress. The purpose of integrating flame retardant chemicals into polymers is to ensure that specific items are safer to use in terms of fire. Synthetic polymers have largely supplanted traditional materials in recent years, however, the majority of them are flammable and can burn in the presence of high heat and Oxygen. Therefore, it is crucial to use flame retardants for plastics so that they can create flame retardants that lessen the risks of fire. Increased fire resistance, reduced flame spread, and reduced heat release are the primary goals of flame retardancy.
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Top Lading Players: Covestro AG, DuPont, SABIC, Borealis AG, Huntsman Corporation, Olin Corporation, BASF SE, LyondellBasell, Showa Denko AA, HEXION Inc.
Upcoming Trends in Flame-Retardant Plastics Market:
Flame-retardant plastics are widely used in various applications such as electronics, construction, and automotive industries to reduce the risk of fire. With the growing concern for safety and increasing demand for lightweight materials, the flame-retardant plastics market is expected to see several upcoming trends in the near future.
Here are some of the upcoming trends in the flame-retardant plastics market:
- Increasing demand for halogen-free flame retardants: Halogen-based flame retardants have been widely used in the past, but they are being replaced by halogen-free alternatives due to their negative impact on the environment and human health. The demand for halogen-free flame retardants is expected to increase in the coming years.
- Growing demand for flame-retardant plastics in the automotive industry: The automotive industry is one of the largest users of flame-retardant plastics. With the increasing demand for electric vehicles and lightweight materials, the demand for flame-retardant plastics in this industry is expected to grow.
- Increased focus on sustainable flame-retardant plastics: With the growing concern for sustainability, manufacturers are focusing on developing sustainable flame-retardant plastics that are environmentally friendly and can be recycled or reused.
- Advancements in flame-retardant technologies: With the continuous research and development in the field of flame-retardant technologies, new and innovative flame-retardant plastics are being developed that are more effective and efficient in reducing the risk of fire.
Some Key Highlights from the Report:
- Polyurethanes are widely used in the building, construction, automotive and transportation sectors. Polyurethane foams are used as fillings in a wide variety of products including furniture, bedding, carpet underlayment, automotive upholstery, and packaging. Flexible polyurethane foams account for nearly 30.0% of the total North American polyurethane market. Thermoplastic flame-retardant polyurethanes offer several other beneficial properties such as high modulus, abrasion resistance, flexibility and impact resistance.
- Thermoset plastics are expected to grow faster during the forecast period as they do not melt with increasing temperature and retain their shape and strength even at high temperatures. The main types of thermoplastic flame retardants are organophosphorus compounds, which can include phosphorus-halogen compounds and mixtures of phosphorus with halogenated flame retardants.
- In October 2019, Polymaker, an advanced additive manufacturing materials company, partnered with Covestro AG to launch three innovative multi-purpose polycarbonate-based additive manufacturing materials for a variety of industrial applications.
- In May 2020, DuPont Teijin Films announced the launch of a clear, flame-retardant polyester film made from polyethylene terephthalate (PET) to enhance safety in transportation, electronics, construction, label industries, and more.
Segments covered in the report:
Polymer Type Outlook (Revenue, USD Billion; 2019-2030)
- Polyvinyl Chloride
- Polyolefin
- Polyurethane
- Acrylonitrile Butadiene Styrene
- Polycarbonate
- Epoxy
- Polyester
- Others
Polymer Outlook (Revenue, USD Billion; 2019-2030)
- Thermoset
- Thermoplastic
Application Outlook (Revenue, USD Billion; 2019-2030)
- Aerospace & Defense
- Electrical & Electronics
- Wire & Cable
- Pipe & Tank
- Transportation
- Building & Construction
- Marine
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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