The global flame retardant thermoplastics market is likely to rise at a considerable pace in the coming years. The increasing applications of the product across diverse industry verticals, including building and construction, aviation, and chemicals, will emerge in favor of market growth. According to a report by Fortune Business Insights, titled “Flame Retardant Thermoplastics Market Size, Share & Industry Analysis, By Form (Amorphous, Crystalline), By Material (Polyamide & blends, Polycarbonate & blends, PBT/PET & blends, Polyphenylenoxide & blends, Polypropylene & blends) By Application (Electric/Electronic and Household Appliances, Building & Construction, Transportation) Others and Regional Forecast, 2022-2029,” the market will derive growth from the presence of several large scale companies across the world

Flame retardant thermoplastics are used in applications that involve flame risks and fire-prone environment. The flame retardant chemicals are used in thermoplastics to increase their resistance to fire and flammable products. These products are required to maintain specific standards and guidelines laid down by regulatory authorities and organizations. The presence of several large scale companies operating in the market, driven by increasing product applications will emerge in favor of market growth. Additionally, the increasing investment in the development of efficient products will bode well for growth. The constant research and development activities associated with the development of favourable flame retardant material as well as thermoplastics will lead to an increase in adoption of thee product across the world. Increasing applications of the product, especially in the aviation industry, has opened up a huge potential for the growth of the market in the coming years.

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ICL-IP Announces Plans to Increase Production Capacity of Bromine Compounds

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing efforts put in by major companies to increase the production capacities of flame retardant thermoplastics as well as the material associated with it, has made the highest impact on market growth. Accounting to the increasing demand for the product, companies are looking to adopt newer strategies that will help them establish a wider consumer base. In September 2019, ICL-IP announced that it plans to increase its production capacity of bromine compounds for its customers in the Asia Pacific. The company will increase its production capacity of FR1025, a product that it categorized as an environment-friendly polymeric flame retardant, by 50%. ICL-IP’s latest activity will not just benefit the company but will also have a direct impact on the growth of the overall market in the coming years.

Asia Pacific Dominates the Market; Increasing Production Capacities in China to Aid Growth

The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific currently dominates the market. The increasing production of flame retardant thermoplastics in major economies, especially China, will aid the growth of the regional market. The modifications in regulatory scenario associated with the material in the past five years have emerged in favor of market growth. The market in Europe will derive growth from the increasing product demand in several countries including Germany, France, and UK. The increasing product applications in the building and construction industries will aid the growth of the market in the Middle East and Africa.

List of companies profiled in the report:

  • Asahi Kasei Corporation
  • BASF S
  • Celanese Corporation
  • Covestro AG
  • DuPont
  • EMS-CHEMIE HOLDING AG
  • Idemitsu Kosan Co., Ltd.
  • LANXESS AG,
  • LATI Industria Termoplastici S.p.A.
  • LG Chem
  • LOTTE ADVANCED MATERIALS CO., LTD
  • Mitsubishi Engineering-Plastics Corporation
  • RTP Company
  • SABIC
  • Solvay

Industry Developments:

October 2019: SONGWON announced that it has introduced new range of flame retardants. This new range is reported to halogen-free range of flame retardants.

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