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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:
1. 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.
2. 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.
3. 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.
4. 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)
Polymer Outlook
(Revenue, USD Billion; 2019-2030)
Application Outlook
(Revenue, USD Billion; 2019-2030)
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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:
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