Halogen-Free Flame Retardant Market Size

The market for halogen-free flame retardants demonstrated a value of USD 2,191.95 million in 2017, and projections indicate an upward trajectory, reaching USD 3,067.05 million by the conclusion of the forecast period, with a Compound Annual Growth Rate (CAGR) of 5.76%. In terms of volume, the market encompassed 1,458.31 thousand tons in 2017 and is anticipated to experience a growth rate of 4.85% throughout the forecast period. Several market-driven factors significantly influence the halogen-free flame retardants market, including robust demand within the building and construction industry, a rising need in the electrical and electronics sector, strict regulations against halogenated flame retardants, and an increased utilization of non-halogenated flame retardants in emerging economies, particularly in the Asia-Pacific region.

The building and construction industry extensively employs polymers in various forms such as plastics, composites, foams, textiles, and paints and coatings. Plastics are favored for profiles, cables, films, and sheets due to their attributes like high durability, corrosion resistance, and ease of cleaning and repair. However, these materials pose fire risks, necessitating the use of halogen-free flame retardants to meet stringent fire safety standards and building codes. The application of these flame retardants plays a crucial role in preventing or slowing down the spread of fire, thereby providing essential escape time. Consequently, the building and construction segment dominated the market share, representing 42.15% in 2017, and is anticipated to exhibit substantial growth in the forecast period. Valued at USD 923.91 million in 2017, this segment is projected to reach USD 1,320.45 million by the end of 2023. In terms of volume, the segment accounted for 635.96 thousand tons in 2017 and is expected to grow to 862.78 thousand tons by 2023.

The escalating demand for flame retardants in the building and construction sector is propelled by the widespread use of plastics, composites, and other materials, all of which require effective fire prevention measures. These materials are integral to various applications, such as profiles, cables, films, and sheets, where their unique properties make them indispensable despite their inherent fire risks. Notably, textiles used in home furnishings, including curtains, draperies, upholstery, and carpets, present a specific challenge due to their highly flammable nature. The incorporation of halogen-free flame retardants becomes essential to mitigate these fire risks and adhere to stringent safety standards.

Looking ahead, the building and construction segment is expected to maintain its significant market share and witness robust growth. This growth trajectory is underpinned by the continuous demand for flame retardants to ensure fire safety in diverse applications within the industry. As regulations become more stringent and the awareness of fire safety standards increases, the utilization of halogen-free flame retardants is poised to become even more crucial, driving the market's expansion in the years to come.