The flame retardants market size was valued at US$ 6.44 billion in 2023 and is expected to reach US$ 9.56 billion by 2031; it is estimated to register a CAGR of 5.1% from 2023 to 2031.

Flame retardant plastics and polymer compounds are required in the manufacturing of automotive components and aviation materials. Flame retardant coatings and polymers are used in aircraft interior components such as seats, lighting, galleys, or cockpit equipment. Flame retardants are used in automotive components and mass transportation vehicle applications. Flame retardants demonstrate improved processing characteristics in plastics such as acrylonitrile butadiene styrene and high-impact polystyrene. According to the International Organization of Motor Vehicle Manufacturers, North America registered an increase in the production of motor vehicles from 14.79 million vehicles in 2022 to 16.16 million vehicles in 2023. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025. According to the International Trade Administration data released in 2022, the automotive industry of Mexico accounts for 3.5% of the country's GDP and 20% of the manufacturing gross domestic production.

Based on type, the flame retardants market is segmented into halogenated, (bromine-based and chlorine-based), halogen-free (phosphorus-based, aluminum hydroxide, magnesium hydroxide, and others). Halogen-free segment is expected to register highest CAGR in the flame retardants market from 2023 to 2031. Magnesium hydroxide is filled in high volumes in materials to achieve a flame-retardant effect as magnesium hydroxide is known to be a less efficient flame retardant. The surface properties of magnesium hydroxide are modified to improve the mechanical properties of materials.

Based on end-use industry, the market is segmented into building and construction, automotive and transportation, electrical and electronics, textiles, and others. The building and construction segment held the largest share in the flame retardants market in 2023. Flame retardants are used as additives in paints and coatings used in residential, commercial, and industrial buildings. According to the American Coatings Association, in the US, architectural coatings are the largest segment of the paint industry, accounting for more than 50% of the total volume of coatings produced yearly. Flame retardants, when added to construction materials, reduce the rate at which materials burn, increase the threshold temperature at which a material ignites, and minimize the spread of flames. Insulation and structural elements are major applications of building materials that require the fire-protective benefits of flame retardants.

In the flame retardants market, Asia Pacific is expected to register highest CAGR during 2023-2031. The construction industry needs materials that can enhance the fire resistance of building components. The requirements of these industries in Asia Pacific shape the production priorities and innovation efforts of flame-retardant manufacturers. Moreover, end-use industries significantly influence the development and customization of flame retardants. They work closely with manufacturers to convey their specific needs and performance criteria, which can include factors such as thermal stability, mechanical properties, environmental impact, and cost-effectiveness. In addition, end-use industries play a crucial role in the regulatory and compliance landscape of flame retardants. These industries must ensure that their flame-retardant-treated products comply with fire safety standards and regulations.

A few players operating in the global flame retardants market include ADEKA CORPORATION; Albemarle Corp; Avient Corp; BASF SE; J.M. Huber Corporation; Clariant AG; RTP Company; ICL Group Ltd; Italmatch Chemicals S.p.A; Lanxess AG; Alpha Calcit F?llstoff GmbH & Co. KG; AIR WATER INC; Konoshima Chemical Co., Ltd.; THOR Group Ltd; Nabaltec AG; Georg Nordmann; Marubeni Corp; Celanese Corp; Domo Chemicals GmbH; and Greenchemicals S.r.l. Players operating in the global flame retardants market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global flame retardants market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the flame retardants market.