Flame Retardant Chemicals are helpful in reducing the harmful effects of fires and burns by delaying the process and controlling the spreading of fires. These chemicals are generally phosphorus, nitrogen, and halogen compounds that are mixed with plastic and rubber to control and restrict burning fires. This special benefit of the fire retardants made them a primary choice in the treatment of flammable substances in the textiles.
The global flame retardant chemicals market is estimated to grow at a compound annual growth rate higher than 6% to cross USD 12 billion by 2022. The flame retardants cannot alter the flammable property of any compound but procrastinate the burning process to reduce higher damage. Textiles, automobile and electronic parts, and building constructions are the most popular sectors that incorporate the use of flame retardant chemicals to mitigate the risk of unexpected fire accidents.
Polyolefins, paints and coatings, epoxy resins, unsaturated polyesters, polyvinyl chloride (PVC), engineering thermoplastics and so on are the leading application areas of the flame-retardant chemicals. Nonhalogenated flame retardants are gaining prominence in the recent years due to their zero toxicity and nature-friendly composition. These retardants are made using phosphorus, nitrogen, metal hydroxides, magnesium hydroxides, and boron. The increasing demand from the industrial sector, strict environmental regulations, and improved rules for toxic compounds will propel the growth of nonhalogenated flame retardants in the future.
Strict government policies for implementing safety standards and increasing risk of fire and mishaps in the construction, and automotive industry are driving the demand for flame retardant chemicals. The increasing investments of the Asia Pacific companies in the construction and infrastructure projects like shopping malls, recreational centres, high-rise buildings and modern healthcare centres, along with the growing population and spending capacity are improving the growth potential for the global flame retardant chemicals market.
On the flip side, the increasing prices, lack of raw materials, and concerns related to toxic nature of the chemicals can impede the growth of flame retardants market. The harmful side effects caused by the flame-retardant chemicals to living creatures is also restricting the growth of the international market. However, the demand from growing construction, transportation, automobile, electrical wires and cables, and home furnishing industries is expected to accelerate the growth of global flame retardant chemicals market.
Independent Research Consultant
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