Environmental and safety regulations are expected to drive growth of non-halogenated flame retardants.
San Francisco, California (PRWEB) June 30, 2014
The global market for non-halogenated flame retardants is expected to reach USD 2.54 billion by 2020, according to a new study by Grand View Research, Inc. Concern for human health and environment has led to many countries banning halogen based flame retardants. These regulations and legislations are key factors positively affecting the demand for halogen free retardants. Polymers are being increasingly used in many end use industries such as automotive, electrical, construction, etc. Increased use of polymers has given a significant rise to risk of fire accidents. Extensive use of non-halogenated flame retardants for countering these instances will lead to its increased demand and eventual market growth. The estimated CAGR for market revenue is 8.2%. However, issues with processing of these materials are expected to be a challenge for market participants.
The report “Non-Halogenated Flame Retardants Market Analysis By Product (Aluminum Hydroxide, Phosphorous Based), By Application (Polyolefins, Epoxy Resin, UPE, PVC, ETP, Rubber, Styrenics), By End Use Industry (Electrical, Construction, Transportation) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/non-halogenated-flame-retardants.
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Further key findings from the study suggest:
- The global market for non-halogenated flame retardants is expected to reach 2013.9 kilo tons, growing at an estimated CAGR of 7.3% from 2014 to 2020 in terms of volume.
- Phosphorous based retardants are expected to generate over 50% of the overall market revenue, growing at an estimated CAGR of 8.3% till 2020. It is also estimated to be the fastest growing segment in revenue terms.
- Construction is leading non-halogenated flame retardants end use segment in terms of revenue, however its estimated CAGR of 7.9% is the lowest.
- North America was a dominant consumer of non-halogenated flame retardants in 2013 with over 40% volume share and is expected to continue this trend with a CAGR of 7%, below the consolidated industry CAGR of 7.3%.
- Market structure is fragmented with a number of players accounting for more than 60% of the market share.
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For the purpose of this study, Grand View Research has segmented the non-halogenated flame retardants market on the basis of product, application, end use and region:
- Global Non-Halogenated Flame Retardants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Aluminum hydroxide
• Phosphorous Based
• Others (nitrogen, magnesium hydroxide, etc.)
- Global Non-Halogenated Flame Retardants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Epoxy resins
• Others Applications
- Global Non-Halogenated Flame Retardants End Use industry Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Others (furniture, textiles, etc.)
- Non-Halogenated Flame Retardants Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
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