Global Flame Retardant Thermoplastic Market Overview
As per MRFR analysis, the Flame Retardant Thermoplastic Market Size was estimated at 16.36 (USD Billion) in 2022.
The Flame Retardant Thermoplastic Industry is expected to grow from 17.47(USD Billion) in 2023 to 31.6 (USD Billion) by 2032. The Flame Retardant Thermoplastic Market CAGR (growth rate) is expected to be around 6.8% during the forecast period (2024 - 2032).
Key Flame Retardant Thermoplastic Market Trends Highlighted
The Flame Retardant Thermoplastic Market is experiencing significant growth, driven by rising concerns over fire safety regulations and the increasing demand for lightweight and durable materials across various industries. The growing adoption of flame-retardant thermoplastics in the construction, automotive, and electrical electronics sectors is a key driver of market growth.
Emerging trends in the market include the development of bio-based and sustainable flame retardants, as well as the integration of nanotechnology to enhance the fire-resistant properties of thermoplastics. Opportunities for growth lie in the exploration of new applications in industries such as aerospace and renewable energy. Key players in the market are investing in research and development to meet the evolving needs of customers and drive innovation in the flame-retardant thermoplastic industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flame Retardant Thermoplastic Market Drivers
Rising Demand for Electrical and Electronic Equipment
The increasing demand for electrical and electronic equipment is a major driver of the Flame Retardant Thermoplastic Market Industry. These devices, including smartphones, laptops, televisions, and other consumer electronics, require flame-retardant materials to meet safety regulations and prevent the spread of fire in case of electrical faults or overheating. The growing adoption of these devices, particularly in developing economies, is expected to continue to drive demand for flame-retardant thermoplastics in the coming years.
Stringent Fire Safety Regulations
Nowadays, fire safety regulations and standards applied by governments and industries all over the world are becoming stricter and stricter. In particular, it relates to the construction, transportation, and consumer electronics industries, where it is compulsory to use flame-retardant materials to make the lives and properties of humans better protected. As a result, more and more manufacturers have begun to use flame retardant thermoplastics when producing their goods to comply with these requirements and satisfy their customers who demonstrate an increase in the demand for safe products.
Technological Advancements and Product Innovations
The modern tendency of continuous improvement in flame retardant technology contributes to the emergence of thermoplastic materials with better fire resistance properties. In particular, applications of nanotechnology and halogen-free flame retardants, as well as new types of additives to ensure better flame retardancy without losing the other functional properties of the materials, are expected to promote the adoption of flame retardant thermoplastics in the diverse applications.
These emerging applications also contribute to the market growth.
Flame Retardant Thermoplastic Market Segment Insights
Flame Retardant Thermoplastic Market Type Insights
The Flame Retardant Thermoplastic Market is segmented by Type into Acrylonitrile-Butadiene-Styrene (ABS), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyethylene Terephthalate (PET), Polyphenylene Oxide (PPO), and Styrene-Acrylonitrile (SAN). ABS is the largest segment, accounting for over 30% of the Flame Retardant Thermoplastic Market revenue in 2023. ABS is a versatile material with good flame retardant properties, and it is used for various applications, such as automotive, electronics, and construction.
PA is the second-largest segment, accounting for over 25%. PA is a high-performance material with good flame retardant properties, and it is used for demanding applications, such as automotive and aerospace. PBT is the third-largest segment, accounting for over 20%. PBT is a semi-crystalline material with good flame-retardant properties and high heat resistance. Therefore, it is used for applications in electrical and electronic components. PC is the fourth-largest segment, accounting for over 15%. PC is a transparent material with good flame-retardant properties and high impact resistance. Therefore, it is used for applications in electronics, appliances, and automotive.
PET is the fifth-largest segment, accounting for around 5%, and PET is a lightweight material with good flame-retardant properties and high transparency. Therefore, it is used for applications in packaging, bottles, and films. PPO is the sixth-largest segment, accounting for over 3%, and PPO is a high-performance material with good flame retardant properties and high heat resistance, therefore, it is used for applications in automotive, electrical, and electronics. SAN is the smallest segment, accounting for less than 3%, and SAN is a copolymer with good flame retardant properties and high impact resistance. Therefore, it is used for applications in automotive, appliances, and toys.
The Flame Retardant Thermoplastic Market is estimated to grow at a CAGR of over 6% from 2023 to 2032. This is primarily ascribed to the increasing usage of flame-retardant thermoplastics across varied end-use industries such as automotive, electronics and construction.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flame Retardant Thermoplastic Market Application Insights
The Application segment of the Flame Retardant Thermoplastic Market holds significant importance, influencing the overall market growth. In 2023, the Flame Retardant Thermoplastic Market revenue from the Automotive segment is projected to reach USD 4.2 billion, showcasing a substantial contribution to the market. The Electrical and Electronics segment is anticipated to exhibit a steady growth rate, driven by the rising demand for flame-retardant thermoplastics in electronic devices and components. The Building and Construction segment is expected to witness notable growth, attributed to the increasing use of flame retardant thermoplastics in construction materials to enhance fire safety.
The Consumer Goods segment is projected to contribute significantly to the market, driven by the growing adoption of flame-retardant thermoplastics in consumer products such as appliances and furniture. The Industrial segment is expected to grow steadily, supported by the demand for flame-retardant thermoplastics in industrial applications such as machinery and equipment.
Flame Retardant Thermoplastic Market Flame Retardant Type Insights
The Flame Retardant Thermoplastic Market is segmented into halogenated, non-halogenated, phosphorus-based and nitrogen-based flame retardants. Among these, the non-halogenated flame retardants segment is projected to dominate the market share during the forecast period. Rising environmental concerns have led to stringent regulations on the use of halogenated flame retardants, driving the demand for eco-friendly, non-halogenated alternatives. The Flame Retardant Thermoplastic Market segmentation provides detailed data and insights on various aspects of the market.
This data can be useful for businesses to make informed decisions and strategies to increase their market share and revenue.
Flame Retardant Thermoplastic Market End-Use Industry Insights
The end-use industry segment plays a crucial role in shaping the Flame Retardant Thermoplastic Market. Among the key end-use industries, automotive, electrical and electronics, building and construction, medical, and aerospace stand out as major contributors. The automotive industry is projected to witness significant growth in the coming years, driven by rising demand for lightweight and fire-resistant materials in vehicle production. The electrical and electronics sector is also expected to contribute substantially to market growth due to increasing demand for flame-retardant materials in consumer electronics, appliances, and industrial equipment.
The building and construction industry is anticipated to remain a key end-use segment, fueled by growing construction activities and stringent fire safety regulations worldwide. The medical industry is expected to experience steady growth as flame-retardant thermoplastics are used in various medical devices and equipment. The aerospace industry is projected to contribute to market growth due to the need for lightweight and fire-resistant materials in aircraft manufacturing. Overall, the diverse end-use industries provide a strong foundation for the Flame Retardant Thermoplastic Market, driving innovation and growth in the years to come.
Flame Retardant Thermoplastic Market Regional Insights
The Flame Retardant Thermoplastic Market is segmented into five regions - North America, Europe, APAC, South America and MEA. Among these, North America and Europe held the largest market share in 2023 and are expected to continue their dominance during the forecast period. The growth in these regions can be attributed to the increasing demand for flame-retardant thermoplastics in the automotive and electrical electronics industries. APAC is expected to witness the highest growth rate during the forecast period, owing to the rapidly growing automotive industry in the region.
The demand for flame retardant thermoplastics is also expected to increase in South America and MEA due to the growing construction and infrastructure sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flame Retardant Thermoplastic Market Key Players And Competitive Insights:
Major players in Flame Retardant Thermoplastic Market industry are constantly striving to gain a competitive edge in the market. Leading Flame Retardant Thermoplastic Market players are focusing on developing innovative products and expanding their production capacities to meet the growing demand for flame-retardant thermoplastics. They are also investing heavily in research and development to stay ahead of the competition. The Flame Retardant Thermoplastic Market industry is highly competitive, with a number of major players vying for market share.
A leading company in the Flame Retardant Thermoplastic Market is Lanxess, a German specialty chemicals company. Lanxess offers a wide range of flame-retardant thermoplastics, including polyamide, polycarbonate, and polyethylene terephthalate (PET). The company's flame-retardant thermoplastics are used in a variety of applications, including automotive, electrical and electronics, and construction. Lanxess has a strong global presence, with production facilities in Europe, Asia, and the Americas.
A competitor company in the Flame Retardant Thermoplastic Market is BASF, a German chemical company. BASF offers a similar range of flame retardant thermoplastics to Lanxess, including polyamide, polycarbonate, and polyethylene terephthalate (PET). BASF's flame retardant thermoplastics are also used in a variety of applications, including automotive, electrical and electronics, and construction. BASF has a global presence, with production facilities in Europe, Asia, and the Americas.
Key Companies in the Flame Retardant Thermoplastic Market Include:
- Tosoh Corporation
- Huntsman International LLC
- Evonik Industries AG
- Lanxess
- DuPont
- Eastman Chemical Company
- ICL Group
- BASF
- Albemarle
- Chemtura Corporation
- Brumberg
- SABIC
- Kronos Worldwide Inc.
- Clariant
- Dow Chemical Company
Flame Retardant Thermoplastic Market Industry Developments
The Flame Retardant Thermoplastic market is projected to reach USD 31.6 billion by 2032, exhibiting a CAGR of 6.8% from 2024 to 2032. Rising concerns over fire safety regulations and increasing demand for flame retardant materials in various end-use industries are driving market growth.
Recent developments include Covestro's launch of a new flame-retardant polycarbonate resin for electrical and electronic applications and SABIC's investment in expanding its flame-retardant thermoplastic production capacity. Furthermore, the growing adoption of flame-retardant thermoplastics in the automotive, construction, and consumer electronics industries is contributing to market expansion.
Flame Retardant Thermoplastic Market Segmentation Insights
Flame Retardant Thermoplastic Market Type Outlook
- Acrylonitrile-Butadiene-Styrene (ABS)
- Polyamide (PA)
- Polybutylene Terephthalate (PBT)
- Polycarbonate (PC)
- Polyethylene Terephthalate (PET)
- Polyphenylene Oxide (PPO)
- Styrene-Acrylonitrile (SAN)
Flame Retardant Thermoplastic Market Application Outlook
- Automotive
- Electrical and Electronics
- Building and Construction
- Consumer Goods
- Industrial
Flame Retardant Thermoplastic Market Flame Retardant Type Outlook
- Halogenated
- Non-Halogenated
- Phosphorus-Based
- Nitrogen-Based
Flame Retardant Thermoplastic Market End-Use Industry Outlook
- Automotive
- Electrical and Electronics
- Building and Construction
- Medical
- Aerospace
Flame Retardant Thermoplastic Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
16.36(USD Billion) |
| Market Size 2023 |
17.47(USD Billion) |
| Market Size 2032 |
31.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.8% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Tosoh Corporation, Huntsman International LLC, Evonik Industries AG, Lanxess, DuPont, Eastman Chemical Company, ICL Group, BASF, Albemarle, Chemtura Corporation, Brumberg, SABIC, Kronos Worldwide Inc., Clariant, Dow Chemical Company |
| Segments Covered |
Type, Application, Flame Retardant Type, End-Use Industry, Regional |
| Key Market Opportunities |
1.      Strong demand from the electronics industry 2.      Growing awareness of fire safety regulations 3.      Innovations in biobased flame retardants 4.      Increasing use in the transportation sector 5.      Expansion into emerging markets |
| Key Market Dynamics |
1.      Rising demand for electronics 2.      stringent fire safety regulations 3.      growth in construction 4.      technological advancements 5.      expanding automotive sector |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Flame Retardant Thermoplastic Market was valued at approximately USD 17.47 billion in 2023.
The Flame Retardant Thermoplastic Market is expected to reach USD 31.6 billion by 2032, exhibiting a CAGR of 6.8% from 2024 to 2032.
Asia-Pacific is expected to dominate the market, accounting for the largest market share due to the increasing demand from the electronics and automotive industries.
Flame Retardant Thermoplastics are used in various applications such as electrical and electronic components, automotive interiors, building and construction, and consumer products.
Some of the key players in the market include BASF, LANXESS, Clariant, SABIC, and Dow.
The market is driven by factors such as increasing demand for flame retardant materials in the electronics industry, growing awareness of fire safety regulations, and rising demand from emerging economies.
The market faces challenges such as fluctuating raw material prices, environmental concerns, and competition from alternative flame retardant materials.
Growth opportunities lie in the development of bio-based and sustainable flame retardant thermoplastics, expanding applications in the aerospace and medical industries, and increasing demand from developing countries.
Key trends include the adoption of halogen-free flame retardants, increasing use of nanocomposites, and the development of self-extinguishing thermoplastics.
Technological advancements, such as the development of advanced flame retardant additives and improved processing techniques, are expected to drive market growth.
