Valley Cottage, NY -- (SBWIRE) -- 06/19/2019 -- Future Market Insights (FMI) delivers key insights on the global non-halogenated flame retardants market in its latest report titled "Non-Halogenated Flame Retardants (NHFR) Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025".
In terms of value, the global non-halogenated flame retardants market is projected to expand at a CAGR of 6.4% during the forecast period.
NHFR are flame retardant compounds that do not contain any halogen. These are more environment friendly than their halogenated counterparts. These compounds find application in plastics, rubber, and textiles materials. Among these, they find largest application in plastics.
Growing use of plastics in the construction industry, driven by rising urbanisation is propelling demand for NHFR worldwide. NHFR are widely used in automotive plastics, which significantly increases its demand from the transportation and automobile industry across the globe.
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Rising concerns regarding the environmental impact of halogenated flame retardants is fuelling growth of the non-halogenated flame retardants market. Non-halogenated flame retardants can be recycled and also produce relatively low and non-toxic smoke as compared to its other counterparts.
Implementation of stringent environmental regulations across the globe is encouraging adoption of non-halogenated flame retardants, especially in the electrical & electronics industry, which is expected to be the fastest growing segment in the market over the forecast period.
Non-halogenated Flame Retardants Market Segmentation
The global non-halogenated flame retardants market is segmented on the basis of product type, end-use industry, application and region.
On the basis of product type, the global NHFR market is segmented into metal hydroxide based, phosphorous based, nitrogen based and others product segments.
Among product types, the phosphorous based segment accounted for the largest value share in the global non-halogenated flame retardants market in 2014, followed by the metal oxide based and nitrogen-based segments respectively. The phosphorous-based segment is projected to remain the largest segment throughout the forecast period, creating an incremental $ opportunity of US$ 1,117.2 Mn between 2015 and 2025.
On the basis of end-use industry, the market is segmented into electrical and electronics, automotive, building and construction and others.
Building & construction industry accounted for the largest end-use industry segment in 2014, followed by electrical & electronics and automotive & transportation segments respectively. However, electrical & electronics is projected to emerge as the largest end-use industry segment by the end of the forecast period. The electrical & electronics segment is expected to create incremental $ opportunity of US$ 699.7 Mn between 2015 and 2025.
Application-wise, the NHFR market is segmented into polyolefin (PO), epoxy, unsaturated polyester (UPE), rubber, polyvinyl chloride (PVC), polyurethane (PU), styrenics, engineering thermoplastics (ETP) and others.
The report also offers in-depth information about the market across seven major regions, namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa and Japan.
In 2014, North America accounted for the largest market value share in the global NHFR market, followed by Western Europe and APEJ respectively. Developed regions namely, North America, Western Europe and Japan collectively accounted for approximately three-fourth value share of the overall market in 2014. APEJ is expected to emerge as the fastest growing market for non-halogenated flame retardants over the forecast period.
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Non-halogenated Flame Retardants Market: Leading Companies
The key players in the non-halogenated flame retardants market that have been covered in this study are Clariant International Limited, Albemarle Corporation, Israel Chemical Limited, Italmatch Chemicals S.p.A, Chemtura Corporation, Nabaltec AG, FRX Polymer Inc, Huber Engineered Material, Amfine Chemical Corporation and THOR Group Ltd. accounted for the largest market share in the global non-halogenated flame retardant market by the end of financial year 2014–2015.