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At 7% CAGR, Non Halogenated Flame Retardants Market will witness share from polyolefins till 2024

Author : Ronak Bora | Published Date : 2019-03-25 

 

Non halogenated flame retardants market share from polyolefins is set to grow over 7% by 2024. Halogen free polyolefins include PP, LDPE, PE, LLDPE, EVA and MDPE. They are primarily used in electric cables & wires, construction and transportation sectors. Market share from epoxy resins applications will witness significant growth of over 7% by 2024. Increasing epoxy resin demand utilized for high quality coatings coupled with rapid industrial growth will propel the industry.

Asia Pacific non halogenated flame retardants market will witness gains at around 8% up to 2024. The industry is driven by growing infrastructure activities in the region. Further, emerging business opportunities in countries like India and China has encouraged industry growth. Hotels, auditoriums and stores construction in the nation is increasing at a higher pace. 

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Middle East is anticipating gains in non-halogenated flame retardants market in near future. Increasing large scale infrastructure development and safeguarding construction activities has raised product demand.

The U.S. non halogenated flame retardants market is expected to foresee significant growth due to stringent government norms regarding environmental protection as the product does not contain chlorinate and brominate.

 

Increasing fire incidents has also influenced non-halogenated flame retardants market. Fire in buildings, transport and in various other places has raised the product utilization. Environmental exposure to the product does not cause any harm to the surroundings, due to which the component is added in construction material at the time of construction. The material protects the building from fire flames and unforeseen accidents. 

Rising usage of electronic appliances has positively impacted the product demand. It gives water resistance, good thermal stability which helps the electronic components to last longer and eliminates the chance of fire in the equipment.

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This technology has provided high performing alternative for manufacturers, it has different varieties that appeals for cast polymers. Component is used in polyolefin as a major component. Its primary use in electric cables and wires has pumped non-halogenated flame retardants market. It is used for high quality coatings in industrial sector.

Growing electricity consumption at global level is accelerating demand for non-halogenated flame retardant market. From urban to rural, extensive usage of electricity is driving the product demand. Safety issues are major concern for all the manufacturers, its property of suppressing fire has increased its utilization. 

Non Halogenated Flame Retardants market may surpass USD 3.4 billion by 2024 according to this new research report. Increasing investment in construction sector along with strict regulation for fire safety will drive non halogenated flame retardants market growth. Growing adoption of polymers in several industries including construction, textile and electronics are the factors positively influencing product penetration. Awareness regarding fire safety has propelled non halogenated flame retardants market.

Growing awareness towards environmental protection will support product demand. Besides, to reduce emissions in the environment, it is extensively being used in new buildings and electronics.

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Non halogenated flame retardants market is moderately consolidated with the industry share in the hands of top 4 companies, catering to around 30% of the overall demand. Several players are engaged in expanding their product portfolio to sustain in the industry. Key participants include BASF, Clariant, Albemarle, Huber and Adeka Corporation. 

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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