Wellesley, Mass, April 04, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals the flame retardant chemicals industry remains in flux, owing to factors such as the discontinuation of widely used flame retardants and emerging technology that promises protection with reduced or eliminated toxic effects. The global consumption of flame retardant chemicals is expected to reach 5.6 billion pounds and 7.3 billion pounds in 2017 and 2022, respectively.
BCC Research's Flame Retardant Chemicals reports many organizations and governments are reassessing the benefits of flame retardants against the negative side effects that cause harm to human health or the environment, putting the industry in flux.
Research Highlights
- Aluminum trihydrate (ATH), as a flame retardant chemical had the largest market share by volume in 2016.
- The volume of bromine-based flame retardant chemicals consumed is expected to supersede that of ATH by 2022, when bromine-based chemicals are expected to capture 25% of the market vs. 24% for ATH.
- Plastics and textiles applications are expected to achieve the highest growth rates due to the growth in electronics applications, housing and construction.
"Some states are permitting the removal of flame retardant chemicals from some applications to meet consumer preferences for toxic-free products," notes Kevin Fitzgerald, BCC Research editorial director. "Consumers who opt for immediate health benefits are placing themselves at risk from inadequate fire protection should they experience a fire."
Industry with a Purpose to Achieve Modest Growth
The flame retardant chemicals industry exists because it serves the purpose of protecting human life and property. Since the loss of both are costly either on a personal basis or financial basis, the flame retardant chemicals industry should continue to grow until new materials are developed that are naturally flame retardant or the use of materials that are flammable is discontinued.
"China and India are requiring flame retardant chemicals be incorporated in products produced or imported to their countries, creating new opportunities for manufacturers," says Fitzgerald. "At the same time, many flame retardant chemical companies the world over have developed new products that are replacements or alternatives to those products that have been banned."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.