Flame Retardants Study A Red Hot Market: Study Expects Growth Potential for Flame Retardants
Growth expected: A recent market study sees a potential US $ 5.8 billion market for flame retardants in 2018. Stricter legal frameworks and the use of innovative and environmental friendly agents drive the market.
Konstanz/Germany – Analysts agree: the market for flame retardants is on a growth curve. The use of polymers and plastics in consumer goods and electronic devices, but also a growing consciousness of safety issues could drive the market up to US $ 5.8 billions in 2018 – This is the result of a recent market study by Ceresana Research. The analysts expects the biggest growth potential on the emerging markets of Asia: especially the Chinese demand for flame retardants grows by about seven percent per year.
Environmental Concerns and Legal Frameworks Drive New Flame Retardants
Innovative new materials but also increasingly strict legal frameworks drive the market. "The development of flame retardants is strongly influenced by the legal situation and industry standards," explains Oliver Kutsch, Ceresana's director. "Rules and regulations get tightened globally. The individual choice of flame retardants also depends on the corresponding national regulations for health and environmental security, especially in Europe and North America." Restrictions for ecological reasons especially concern halogenated agents, for which more and more less critical alternatives are developed. This development is also reflected in the strong 3.5 to 4.3 percent per year growth of Organophosphates and anorganic flame retardants – much more than brominated or chlorinated agents.
Innovative Materials for New Applications
Recent development of flame retardants focuses on new applications and agents, Ceresana says. Environmental concerns and new materials demand for innovative approaches like nanotechnology, microencapsulation and intumescent systems that form a protective layer when heated. Despite these recent developments the most common flame retardant today is still aluminium hydroxide (ATH), an agent that analysts expect to still dominate the market by 2018.
Building materials, especially those based on PVC, but also plastics, adhesives paints and coating are the most important market for flame retardants.