Albany, NY -- (SBWIRE) -- 06/18/2015 -- Flame retardant chemicals are halogen, nitrogen and phosphorous containing compounds which are added to plastics and rubber in order to reduce the magnitude of burning and inhibit flames. They are increasingly being used in construction of buildings, textiles, and automobile and electronic parts manufacturing.

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These additives do not alter the property of the parent material but delays if not completely stop the burning of the material. With the growing safety regulations with regards to fire and the extensive use of flammable materials, these chemicals have gained high importance over the past few years.

These chemicals are extensively used as additives to plastics and rubber. This growth is mainly driven by the increasing demand from end user industries like construction, electrical, and electronic manufacturing. In terms of geography, Asia Pacific is the largest market in terms of consumption of these chemicals and is expected to have the highest growth in production along with consumption over the next five years. Due to their extensive use and superior quality, flame retardant chemicals are the fastest growing segment of the plastic industry.

The flame retardant chemicals market based on product type can be segmented into chlorinated, brominated, antimony oxide, and phosphorous, among others. Based on end user application, the market is segregated based on use in building and construction, automobiles, wire and cables, electric, electronics and textiles.

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The market will show considerable growth over the next five years primarily due to the growth in the construction industry coupled with the growing demand from the Asia Pacific region. In addition, the growing safety regulations with respect to fire have increased the demand for these chemicals. There has also been a steady growth in the demand from other application sectors, especially wire and cables and electronics. However, increasing stringent environmental regulations coupled with the high cost of flame retardant chemicals acts as a major inhibitor for the market.

Major opportunities in the market are dependent on the development of better quality flame retardant chemicals. The use of bio based flame retardant chemicals and at a comparatively lower cost could boost the market in the near future. The major players in the flame retardant chemicals market include AkzoNobel N.V, BASF SE, Clariant AG, Albemarle Corp, Dow Chemical Company, DuPont, and Lanxess AG.

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