Asia-Pacific Non-Halogenated Flame Retardant Chemicals Market - Segmented By Type, End-User Industry, and Geography – Growth, Trends, and Forecasts (2017 - 2022)
The global non-halogenated flame retardant chemicals market accounted for around USD 1,424.14 million in 2016, and is expected to register a CAGR of 7.18% during 2017-2022 (henceforth, referred to as the forecast period). The demand for non-halogenated flame retardants is driven by the rapid growth of infrastructure in the emerging economies such as India and increasing consumer demand for electrical & electronic products across the world.
Building & construction industry has the dominant market share in the non-halogenated flame retardant chemicals market. The increasing population, coupled with the growing purchasing power of middle-class population in developing economies, such as India, South Korea, and ASEAN countries, has boosted the need for infrastructural projects, such as recreational centers, shopping malls, sophisticated healthcare centers, high-rise buildings (to cater to the needs of high population in small areas), and many others, leading to high demand of non-halogenated flame retardant chemicals.
The major driver for non-halogenated flame retardant chemicals market is the stringent government regulations against the usage of halogenated flame retardant chemicals, owing to the increase in environmental and health concerns regarding halogenated flame retardants. Non-halogenated flame retardant chemicals are a substitute for halogenated flame retardant chemicals in major applications, with phosphorous being the most widely used type of non-halogenated flame retardant chemicals. Other types of non-halogenated flame retardant chemicals include aluminum hydroxide, magnesium hydroxide, boron-based compounds, nitrogen, zinc stannate, zirconium acetate, etc.
REGIONS WHERE SCOPE FOR NON-HALOGENATED FLAME RETARDANT CHEMICALS IS RISING
In terms of consumption, North America accounted for the largest market size (in USD million). During the forecast period, the market is projected to grow with an estimated CAGR of 7.83%, the highest among the regions including North America, Asia-Pacific, Europe, South America, and Middle-East & Africa. In North America, the major demand for non-halogenated flame retardant chemicals originates from the building & construction segment (especially from the growing repair construction industry), as the construction industry in the United States is recovering after a decline in 2014. Additionally, with the growing demand for electronic products and automobiles in the region, the demand for and usage of non-halogenated flame retardant chemicals is increasing in the region.NOTABLE DEVELOPMENTS IN THE MARKET
In May 2017, Clariant and Huntsman have signed a definitive agreement to form merger of equals, HuntsmanClariant, which is expected to be a leading global specialty chemical company
In April 2017, LANXESS successfully completed the acquisition of US-based Chemtura, a leading manufacturer of flame retardant chemicals, aiding LANXESS in expanding their customer base in both North America and China
In June 2016, Nyacol Nano Technologies, Inc., a US-based firm, operating in the R&D and manufacturing of inorganic colloids and nano materials, has launched a new series of non-halogenated flame retardants - BurnEx® 608
Why purchase our Non-Halogenated Flame Retardant Chemicals Market Report
What is the impact of LANXESS’ acquisition of Chemtura, on the non-halogenated flame retardant chemicals market?
Will the thriving construction industry aid in the growth of the non-halogenated flame retardant chemicals market?
Know about: The latest technological advancements in the manufacture of non-halogenated flame retardant chemicals
How do the regulations against halogenated flame retardant chemicals, affect the non-halogenated flame retardant chemicals market?
Analysis of various perspectives of the market with the help of Porter’s five forces analysis
Which type of non-halogenated flame retardant chemical will dominate the market?
Which regions will witness the fastest growth during the forecast period?
Identify the latest developments, market shares, and strategies employed by the major market players, such as:
Huber Engineered Materials
DAIHACHI Chemical Industry Co., Ltd.