TAGS: Flame Retardants
Non-halogenated flame retardants market size was valued at USD 4,104.33 million in 2020 and is projected to reach USD 7,941.11 million by 2028, growing at a CAGR of 8.60% from 2021 to 2028.
Fulfills Consumer Demands
Non-halogenated flame retardants are predicted to expand in prominence as engineering plastic becomes more widely used in high-end applications like automobiles. Non-halogenated flame retardants are becoming increasingly popular as engineering plastic addition due to their ability to fulfill consumer demands.
Furthermore, it emits low toxicity fumes, allowing it to be used throughout the transportation system. This is fueling the expansion of the market for non-halogenated flame retardants. Rapid urbanization, along with an increase in the number of fires, is expected to boost demand for non-halogenated flame retardants.
Rising environmental concerns are contributing to the construction of green buildings across the world, where non-halogenated flame retardants are a vital component for ensuring safety. All of these factors are expected to drive non-halogenated flame retardants market development during the forecast period.
The expanding construction sector is a significant element driving the non-halogenated flame retardants market growth. Plastic’s growing popularity in the construction sector is fueled by the fact that it is an excellent alternative to metal and saves energy.
Volatility in the need for and availability of raw materials used in the manufacturing of non-halogenated flame retardants is likely to stymie industry expansion throughout the forecast period. The market expansion of non-halogenated flame retardants is likely to be hindered by concerns about melamine-based flame retardants, such as feeding and dosage. As a result, the aforementioned factors are likely to have a negative influence on market growth in the future.
Key Players
The “Global Non-Halogenated Flame Retardants Market” study report provides insight with an emphasis on the global market including some of the major players such as
Clariant,
Albemarle Corporation, Israel Chemical Limited,
Italmatch Chemicals S.p.A, Chemtura Corporation,
Nabaltec AG,
FRX Polymer Inc.
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Source: VMR