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Non-Halogenated Flame Retardants Market will surpass $3.4bn with over 8% CAGR till 2024.

Non-Halogenated Flame Retardants Market will surpass $3.4bn with over 8% CAGR till 2024.

Non-halogenated flame retardants market to amass huge wealth via construction and automotive applications over 2016-2024, APAC more likely to propel the regional growth
Asia Pacific non-halogenated flame retardants market is set to exceed USD 800 million by 2024 led by electronics, construction and electrical equipment industries.

Europe Non Halogenated Flame Retardants Market size by phosphorous based retardants is expected to generate demand exceeding 120 kilo tons by 2024. Aluminum hydroxide is expected to grow over 8% by 2024, subject to wide application in industries including electronics, construction and electrical equipment.

The incessant efforts by governmental bodies to maintain environmental safety have led to the augmentation of non-halogenated flame retardants market . Citing an instance of the same, FRX Polymers, a key player in non-halogenated flame retardants industry, has developed an eco-friendly product named Nofia ® flame retardant   as a replacement for Antimony, a halogenated flame retardant, in brominated flame retardant systems. The light-weight, low-priced non-halogenated flame retardant apparently finds myriad applications across the transportation, consumer electronics, construction, and textiles sectors, owing to its beneficial traits such as durability, transparency, and high melt flow. Analogous to the aforementioned, Clariant, a renowned specialty chemicals firm has introduced Exolit OP® 1400, a non-halogenated flame retardant, which provides thermal stability for polyamides and is known for its sustainability & outstanding performance across warm and moist conditions. With its safety and eco-friendly features, the product has gained immense popularity across the electrical & electronics, farming, consumer goods, and automotive industries. Product innovation, thus, has proved to substantially boost non-halogenated flame retardants market.

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Capacity expansions have contributed substantially toward non-halogenated flame retardants market since past few years and the trend is expected to depict an upswing even over the many years to come. In 2016, Huber Engineered Materials, a division of J.M. Huber Corporation and a major player in non-halogenated flame retardants market, had declared to expand the production capacity of its product Martinal® fine precipitated alumina trihydrate (ATH) flame retardants by 10% at its newly purchased Martinswerk unit in Germany. The remaining 70% capacity expansion is slated to take place by the end of September 2017 with 20% production capacity expansion already in the completion stages at the firm’s Arkansas subsidiary in the U.S. The capacity expansion, as per experts, is certain to help the firm expand its product portfolio across roofing, coatings, reinforced polyester molding & pultrusion, silicone rubber, engineering thermoplastics, wire and cable, and carpet backing.

In a major breakthrough, LANXESS AG, a leading specialty chemicals firm based in Germany, has introduced highly reinforced non-halogenated flame retardant polyamide Durethan BKV 45 FN04 possessing beneficial features such as exceptional light reflection, heat resistance, tensile strength, high thermal conductivity, and durability. The escalated product applications in large connectors and structural components are expected to influence non-halogenated flame retardants market size in the future.

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The rapid surge in the construction activities across India and China has powered the growth of non-halogenated flame retardants industry across APAC, with China contributing over 40% of the regional construction expenditure. On the contrary, LATAM non-halogenated flame retardants market is largely dependent on the transportation sector, which has observed a rampant expansion over the last few years.

Subject to the extensive emphasis on developing eco-friendly products, manufacturers have been implementing go-green initiatives, which will lead non-halogenated flame retardants industry to depict lucrative growth prospects in the years ahead. Based on the currently observed industry traits, it has been claimed by analysts that non-halogenated flame retardants industry will surpass USD 3.4 billion by 2024, having accrued a revenue of USD 1 billion in 2015.

Browse key industry insights spread across 113 pages with 168 market data tables & 24 figures & charts from the report, “Non Halogenated Flame Retardants Market Forecast, 2016 – 2024” in detail along with the table of contents:  

https://www.gminsights.com/industry-analysis/non-halogenated-flame-retardants-market-report

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https://www.gminsights.com/industry-analysis/linear-low-density-polyethylene-LLDPE-market 

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