According to Future Market Insights (FMI), the global bromine flame retardant (BFR) market is expected to experience significant growth, with its value forecasted to rise from USD 2,399.5 million in 2024 to USD 4,264.0 million by 2034. This growth reflects a compound annual growth rate (CAGR) of 5.9% over the forecast period. The increasing demand for BFRs can be attributed to their essential role in enhancing fire safety across various industries, including electronics, construction, and automotive, driving their adoption globally.
Increasing awareness and stringent regulations regarding fire safety is expected to propel demand for bromine flame-retardant materials. Technological advancements lead to developing more efficient and environmentally friendly flame retardants, driving the BFR market growth.
The booming construction, automotive, and electronics industries are further contributing to the market expansion. The bromine flame retardant market finds extensive utilization across various end-use industries, including electronics, construction, automotive, textiles, and aerospace.
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Regulatory requirements and the need for enhanced fire safety measures in several sectors drive widespread adoption of bromine flame retardant materials. The increasing focus on sustainability and environmental protection further drives the demand for eco-friendly flame retardant solutions, particularly in construction and textiles.
Looking at the global outlook, the bromine flame retardant market is witnessing a balanced equilibrium between supply and demand. While demand continues to rise steadily due to increasing safety regulations and industrial growth, the market benefits from a stable supply of raw materials and efficient production processes.
Key Takeaways from the Report
- The global bromine flame retardant (BFR) market is projected to thrive at 5.9% CAGR through 2034.
- By type, the tetrabromobisphenol A (TBBPA) segment is expected to surge at a CAGR of 5.1% by 2034.
- By application, the building & construction segment is set to hold a market share of 36.5% in 2024.
- North America is expected to account for a significant share of around 23.8% in 2023.
- India is anticipated to grow at a CAGR of 6.3% by 2034.
“Initiatives for green buildings that put sustainability and energy efficiency first are being promoted in several areas. Environmentally friendly flame retardants are in demand as a result of these activities, which frequently include fire safety criteria. In response to this demand, BFR producers are creating environmentally friendly solutions. The desire for safer and less toxic alternatives are surging as a result of growing public awareness of the possible health hazards linked to some BFRs.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
The global bromine flame retardant (BFR) market is fragmented, with leading players accounting for 35% to 40% of the share. Albemarle Corporation, Akzo Nobel N.V., ICL, Lanxess, BASF SE, Clariant, and ISU Chemical are the leading manufacturers and suppliers of bromine flame retardant (BFR) listed in the report.
Key bromine flame retardant (BFR) companies invest in continuous research to produce new products and increase their capacity to meet end-user demand. They are also inclined toward adopting strategies to strengthen their footprint, including acquisitions, partnerships, mergers, and facility expansions.
For instance,
- In 2022, Canada-based FRX Innovations announced that Nofia-branded flame retardants received the SAFER accreditation from ChemFORWARD.
- In 2022, BASF SE launched a novel type of thermoplastic Polyurethane termed as ‘Elastollan R 2600 FHF’ from its Elastollan product line.
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More Insights into the Bromine Flame Retardant (BFR) Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global bromine flame retardant (BFR) market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.
To understand the global market potential, growth, and scope, the market is segmented based on type (Tetrabromobisphenol A [TBBPA], Hexabromocyclododecane [HBCD], Polybrominated Diphenyl Ethers [PBDEs], Decabromodiphenyl Ethane [DBDPE], Brominated Polystyrene [BPS], Others) application (electrical and electronics, building & construction, textile & furniture, automotive, aerospace & defense, plastic & polymer, others) and region.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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