In terms of value, the flame retardants market is estimated to grow from USD 7.0 billion in 2022 to USD 9.5 billion by 2028, at a CAGR of 5.2%. The demand for flame retardants is influenced by a number of safety-related, legal, and industry-specific issues. Flame retardants are substances or chemicals that are included in a variety of goods to lessen their flammability and slow down the spread of fires.
Flame Retardants Companies
The key players profiled in the report include Albemarle Corporation (US), Clariant AG (Switzerland), LANXESS AG (Germany), BASF SE (Germany), ICL Group Ltd. (Israel), Nabaltec AG (Germany), Huber Engineered Materials (US), ADEKA Corporation (Japan), Italmatch Chemicals S.p.A. (Italy), and Avient Corporation (US). The flame retardants market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.
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Israel Chemicals Group Ltd.(ICL) is one of the leading companies producing specialty fertilizers, phosphate products, and flame retardants. ICL Ltd. operates through four business segments: industrial products, potash, phosphate solutions, and innovative agricultural solutions. It offers flame retardants through their industrial products and phosphate solutions segments. ICL provides different products in the flame retardants market, and most of its products are phosphorus-based. The industrial products segment of the company is one of the leading manufacturer of bromine across the globe. ICL has a global presence, with production facilities and operations in numerous countries around the world. It operates globally with around 195 manufacturing units.
Lanxess AG is a global specialty chemicals company headquartered in Cologne, Germany. It was founded in 2004 as a spin-off from the chemicals and pharmaceuticals company Bayer AG. Lanxess is known for its expertise in the development, manufacturing, and marketing of a wide range of specialty chemicals, plastics, and rubber products. The company offers a wide range of products through four segments: advanced intermediates, specialty additives, consumer protection, and engineering materials. LANXESS AG offers phosphorous- and bromine-based flame retardants through the specialty additives segment. Lanxess has a strong global presence, with production sites and subsidiaries in various countries. The company currently has 13,200 employees in 33 countries.
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