LONDON, July 30, 2019 /CNW/ -- Frost & Sullivan's recent analysis of the flame retardants market reveals that while the tightening fire safety standards and regulations will continue to be primary growth contributors, the rapid adoption of electric vehicles, smart appliances, and novel consumer electronics is creating the much-needed tailwind for market evolution. Market transformation will be augmented by an emphasis on the development and promotion of effective substitutes and value-added grades for existing applications. Frost & Sullivan expects the global flame retardants market to expand at a steady compound annual growth rate (CAGR) of 3.8% from 2018 to 2025.
"Stringent regulations and rigorous standards pertaining to the environment, energy consumption, and health and safety have engendered several Mega Trends, including lightweighting and metal-to-plastics conversion," said Gautam Rashingkar, Senior Analyst, Chemicals & Materials. "However, increasing the use of plastics, polymers, and composites renders the average home and vehicle all the more susceptible to fire hazards."
Frost & Sullivan's recent analysis, Global Flame Retardants Market, Forecast to 2025, discusses the factors and trends that have shaped the sector, opportunities that can be tapped and challenges that lie ahead. Flame retardants and material groups covered in the research include Alumina Trihydrate (ATH), brominated, chlorinated, phosphorus-based, Antimony Trioxide, and others (melamine-based, zinc-based, and magnesium hydroxide).
For further information on this analysis, please visit: http://frost.ly/3mv
From a market perspective, Asia-Pacific, by far, dominates due to a concentration of key end-use industries such as consumer electronics and electrical applications. Asia-Pacific manufacturers are increasingly adopting highly regulated European or American fire safety standards due to high production share destined for these markets. Furthermore, evolving regulatory scenarios in the APAC region, especially in China, are expected to boost flame retardants market opportunities.
"Considering the need to adhere to stringent regulations and the necessity to ensure optimum performance, incumbents are likely to exhibit a preference for sustainable synergies," noted Rashingkar. "Moreover, as effective alternatives to low-molecular weight and volatile flame retardants, manufacturers are promoting the use of polymeric flame retardants characterised by high molecular weights, low volatility, and no bioaccumulation."
Participants should aim to tap additional growth opportunities by:
- Developing application-specific offerings and high value-added products.
- Minimising the impact of restrictions and regulations on the use of flame retardants by diversifying their product portfolio.
- Partnering with OEMs to quantify the environmental impact of the end product and assess the contribution of substitutes.
- Strengthening their business and product portfolios in Asia-Pacific countries, where significant investments are expected.
"Although the overall flame retardants market has recorded steady expansion, certain individual chemistries have been questioned for probable toxicity and ill-effects such as increasing the risk of neurodevelopmental problems, reproductive harm, endocrine disruption, and cancer," observed Rashingkar. "The movement to stop their use is gaining momentum and will impede market growth."
Global Flame Retardants Market, Forecast to 2025 is part of Frost & Sullivan's Chemicals & Materials research and analyses available through the Frost & Sullivan Leadership Council, which helps organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Flame Retardants Market, Forecast to 2025
SOURCE Frost & Sullivan