Flame retardant coating additives act as key ingredients for manufacturing coating based flame retardants and are also used for enhancing the retardancy of the flame.
Though bromine occupies a major share of the market, phosphorous is growing at a faster rate owing to its less hazardous attributes.
Key stakeholders such as Lanxess AG, BASF S.E, Clariant A.G and Dow are leaning towards additives other than bromine as it has been banned for manufacturing flame retardants in Europe and the United States.
Key takeaways of Global Flame Retardant Coating Additives Market
- The global flame retardants coating additives market is anticipated to create a value opportunity of around $200 million during the forecast period, adding 1.5X times more value as compared to 2019;
- Market consolidation is set to affect the flame retardant coatings additive market by the end of 2029, with bromine accounting for more than 30% of the market. Intermediate functions are projected to grow at just over 3% CAGR, as they are key agents for the production of flame retardants. Bromine flame retardants are set to decline at a faster pace by 1.8X;
- Phosphorus is set to grow at a sluggish 3% during the forecast period of 2019-2029 and is set to gain 800 BPS through 2029;
- Europe holds the leading share and accounts for 20,000 tons of flame retardant coatings additive production to cater to the requisite demand from flame retardant producers in Europe;
- South Asia & Oceania and East Asian markets are set to grow at a steady pace, due to near absence of demand from these regions;
- Global flame retardants coatings additives market is highly consolidated in nature with BASF AG, Lanxess AG, DuPont and Clariant AG as top contenders in the global market
Manufacturers Adopting Inorganic Strategies to Increase their Foothold in Flame Retardant Coating Additives Market
Flame retardant coating additives market stakeholders such as BASF S.E, Clariant AG, Dow, DuPont, Lanxess AG are keenly looking for captive utilization of flame-retardant coating additives for the manufacturing of flame retardants. Stakeholders are also trying to acquire flame retardant additives to enhance their profit margins and also to strengthen their position in the market, thus, leading to lower competition among the market players.