New York, NY, Feb. 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Halogen Free Flame Retardant Market By Type (Aluminum Hydroxide, Organo- Phosphorous and Other Type), By Application Type (Polyolefin, Epoxy Resins, Polyvinyl Chloride (PVC), Unsaturated Polyester (UPE), Rubber, Engineered Thermoplastics (ETP), Styrenics and Others), For End User (Building and Construction Industry, Electrical and Electronics Industry, Transportation Industry, Wires and Cables Industry and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024”.
According to the report, in the year 2016, the global halogen free flame retardant market was valued at more than USD 3,000 million and it is expected to reach more than USD 6,900 million by 2024. The global halogen free flame retardant market is expected to exhibit a CAGR of more than 8% between 2017 and 2024. In terms of volume, the demand for halogen free flame retardant is expected to reach around 3,000 thousand tons in 2024 at a CAGR of more than 7% during forecast period.
Browse through 21 Tables & 34 Figures spread over 120 Pages and in-depth TOC on "Global Halogen Free Flame Retardant Market by Type, Industry Share, Trends and Forecast 2016 – 2022”.
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Market Report Highlights
- Recent implementation of new environmental legislation imposed by government on use of halogenated flame retardants is expected to drive the growth of global halogen free flame retardant market
- Increasing adoption of halogen free flame retardants in different industries such as building & construction, electrical & electronics is expected to boost the demand for halogen free flame retardant
- Emerging economies such as China and India are expected to experience a significant market growth owing to increasing construction, electrical & electronics, and transportation industry
- Aluminum hydroxide has leading share and is gaining more traction owing to its extensive properties such as easy availability, low cost, and, non-toxic nature
- Polyolefin is most widely used polymer and possess diverse applications in cables and automotive parts among others
- Building & construction dominate the market, however, electrical & electronics is expected to emerge as the most potent end-user segment over the forecast period
- North America holds the dominant position in the global halogen free flame retardant market with around 35% share in 2016
- The Asia Pacific is expected to be the fastest growing region in the upcoming years.
- China, Japan, and India are the leading countries in the global halogen free flame retardant market in Asia Pacific
- Critical concerns in functional properties such as loading levels and setbacks in cognitive operations may affect the market growth negatively
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Some of the key factors that would fuel the growth of the market include awareness for fire safety products among the end-user industries, increasing application of plastics in numerous industries along with several regulations led by the governing bodies on the use of halogenated flame retardants. End-user industries are replacing various metal materials with plastic components in their manufacturing process to reduce overall weight and reduce costs. However, plastic materials are more susceptible to catch fire as compared to metal components. Thus, halogen-free flame retardant chemicals are widely used to manufacture these plastic materials which are utilized in manufacturing industries.
Our research analysts observed that there will be an increasing demand for aluminum hydroxide flame retardant owing to its easy availability, non-toxicity and low cost. The major applications of aluminum hydroxide flame retardants are cables, rubber products, flame retardant wires, electrical arcing and carpet backing among others.
Browse the full " Halogen Free Flame Retardant Market, By Type (Aluminum Hydroxide, Organo- Phosphorous and Other Type), By Application Type (Polyolefin, Epoxy Resins, Polyvinyl Chloride (PVC), Unsaturated Polyester (UPE), Rubber, Engineered Thermoplastics (ETP), Styrenics, and Others), For End User (Building and Construction Industry, Electrical and Electronics Industry, Transportation Industry, Wires and Cables Industry, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024" report at https://www.zionmarketresearch.com/report/halogen-free-flame-retardant-market
In the type segment, aluminum hydroxide flame retardant holds major share. The aluminum hydroxide flame retardant dominated the market in 2016 with around 70% market share and is expected to maintain this trend over the forecast period. Factors like nontoxic nature, easy availability and low cost are driving the growth of aluminum hydroxide flame retardants. Moreover, aluminum hydroxide possesses the properties such as it absorbs a significant amount of heat and decomposable at 230° C. Aluminum hydroxide flame retardants are also used as fillers in various materials. Aluminum hydroxide acts as an effective smoke suppressant in a wide range of polymers, such as ethylene vinyl acetate, polyesters, PVC, acrylics, epoxies, and rubber.
According to the analysts and insights shared by industry experts during primary research, stringent regulations and environmental concerns regarding usage of halogenated flame retardants are expected to provide ample opportunities for global halogen free flame retardant market during the forecast period.
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The global halogen-free flame retardant market is segmented on the basis of the type, end-user industry, application type, and the geographical regions.
Global Halogen Free Flame Retardant Market: Type Segment Analysis
- Aluminum Hydroxide
- Organo- Phosphorous
- Others
Global Halogen Free Flame Retardant Market: End-User Industry Segment Analysis
- Building and Construction Industry
- Electrical and Electronics Industry
- Transportation industry
- Wires and Cables Industry
- Others
Global Halogen Free Flame Retardant Market: Application Type Segment Analysis
- Polyolefin
- Epoxy Resins
- Polyvinyl Chloride (PVC)
- Unsaturated Polyester (UPE)
- Rubber
- Engineered Thermoplastics (ETP)
- Styrenics
- Others
Global Halogen Free Flame Retardant Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
- GCC
- South Africa
- Rest of the Middle East and Africa
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