Flame Retardant Additives Market: Overview
Flame retardant additives are chemicals that are added to materials to slow down or prevent the growth of fire by inhibiting the combustion process, and limiting the amount of heat released. Plastics are not thermally stable by themselves. Thus fire retardant additive are added to the polymer so that it is thermally stable. Thermally stable polymers do not decompose into combustible gases under high temperatures, which inhibits combustion from initiating. Thermally stable polymers are difficult and expensive to process and might have performance limitations, thus plastic manufacturers use flame-retardant additives to impart flame-retardant properties to polymers. Flame retardants additives contain one or more of the following elements: chlorine, boron, aluminum, bromine, phosphorus, nitrogen, or silicon.
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Flame Retardant Additives Market: Drivers & Restraints
Functional fillers are extensively employed in plastics due to the increase in usage of plastics in the automotive industry. This is encouraging companies to invest more in research & development activities to develop new additives. This, in turn, is anticipated to drive the flame retardant additives market in the next few years. Furthermore, rise in demand for lightweight plastic materials in various industries is estimated to boost the demand for flame retardants additives during the forecast period.
Companies operating in the global flame retardant additives market strive to explore new and better ways to manufacture flame retardant additives. Development of new processes to produce flame retardant additives is estimated to propel the market in the next few years. However, volatility in prices of raw materials is projected to hamper the flame retardant additives market during the forecast period.
Flame Retardant Additives Market: Key Segments
In terms of type, the global flame retardant additives market can be divided into Alumina Trihydrate (ATH), antimony oxide, brominated, chlorinated, phosphorus, zinc sulfide, zinc oxide, boron compounds, magnesium hydroxide, and nitrogen containing compounds. The ATH segment is estimated to expand at a rapid pace in the next few years due to the rise in need for lightweight plastic materials in developing economies such as China, India, and Brazil.
Based on end-use industry, the flame retardant additives market can be segmented into building & construction, electronics & appliances, automotive & transportation, wires & cables, textiles, aerospace, furniture, and adhesives. The automotive & transportation segment is projected to expand at a significant pace during the forecast period due to the consistent use of flame retardant additives to manufacture automotive parts across the globe.
Flame Retardant Additives Market: Regional Outlook
In terms of region, the global flame retardant additives market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific and North America are anticipated to constitute major share of the global market during the forecast period. The flame retardant additives market in Asia Pacific is projected to expand at a significant pace due to the rise in per capita income in developing economies such as China and India. Increase in per capita income is boosting the spending power of consumers. This, in turn, is estimated to propel the demand for high-quality products in Asia Pacific. Additionally, rise in usage of flame retardant additives to manufacture construction materials is fueling the flame retardant additives market in the region. Middle East & Africa is expected to be a lucrative region of the global flame retardant additives market during the forecast period due to the rise in demand for flame retardant additives to manufacture automotive components in the region.
Flame Retardant Additives Market: Key Players
Prominent players operating in the global flame retardant additives market include Albemarle Corporation, Italmatch Chemicals S.p.A., Clariant AG, and BASF SE. These players engage in research & development activities, alliances, and mergers & acquisitions to gain market share
