Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Europe Flame Retardant Chemicals Market Report (2023-2028)," the market is estimated at USD 1.98 billion in 2023. It is expected to register a CAGR of 4.53% during the forecast period.
Flame retardants include chemicals that are used on materials like textiles, plastics, and surface coatings to delay the start and spread of a fire. The most used elements in flame retardants are bromine, chlorine, and phosphorous. The compounds in these elements are added to treat flammable materials and lower their power to ignite.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.98 billion |
| Market Size (2028) | USD 2.47 billion |
| CAGR (2023-2028) | 4.53% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing living standards in Eastern Europe. |
| The increasing safety standards in the construction of buildings. |
Who are the Top Companies in the Europe Flame Retardant Chemicals Market?
The European flame retardant chemicals market is partially consolidated. The major players in the market are developing new products and partnering with several other companies to cater to a wider consumer base and expand their market presence.
Significant players in the European flame retardant chemicals market are,
- Albemarle Corporation
- BASF SE
- CLARIANT
- DIC Corporation
- Dow
- Eti Maden
- ICL
- Italmatch Chemicals S.p.A
- J.M. Huber Corporation
- LANXESS
- MPI Chemie BV
- Nabaltec AG
- RTP Company
- THOR
- TOR Minerals
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Key Highlights from the Europe Flame Retardant Chemicals Market Report:
Buildings and Construction Segment to Drive the Market
- In Europe’s building and construction industry, flame retardants are used in structural insulation. Insulation in homes and other buildings is used to keep the temperature ideal and save energy, which is expected to drive the demand for flame retardants.
- Flame retardants also find applications in polyolefin foams in buildings for sound insulation and thermal insulation for pipes.
Germany is Likely to Drive the Market
- The German economy is the largest in Europe. In 2022, Germany witnessed increased industrial development, high state spending, and booming construction. The country has 41 assembly and engine production plants, contributing significantly to the region’s automobile production.
- Germany houses one of the leading manufacturing bases of the automotive industry. It has several prominent equipment manufacturers, engine producers, and system integrators.
What are the Latest Developments in the Europe Flame Retardant Chemicals Market?
- In September 2022, LANXESS launched a non-halogen flame retardant for glass fiber-reinforced plastics for the electrical and electronics industry.
- In July 2022, BASF SE collaborated with THOR GmbH to produce a non-halogen flame retardant additive. The product complies with the safety standards of sustainable products.
Mordor Intelligence has Segmented the Europe Flame Retardant Chemicals Market Based on Product Type, End-User Industry, and Geography:
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Non-halogenated
- Inorganic
- Aluminum Hydroxide
- Magnesium Hydroxide
- Boron Compounds
- Phosphorus
- Nitrogen
- Other Types
- Inorganic
- Halogenated
- Brominated Compounds
- Chlorinated Compounds
- Non-halogenated
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Electrical and Electronics
- Buildings and Construction
- Transportation
- Textiles and Furniture
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Europe Flame Retardant Chemicals Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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