According to a report released by Research and Markets, a foreign market research organization, by 2020, the European flame retardant market will grow at a steady rate of 5.3%, exceeding US$2.1 billion. Europe is the third largest flame retardant market in the world, accounting for 22% of the global market share.
According to the application, flame retardants can be divided into the following types: electrical and electronic applications, construction, wire and cable, automobiles, textiles and others. The two largest areas are construction and electrical and electronic applications, which together account for 45% of the entire market.
The areas of electronic and electrical applications and wire and cable are the fastest growing markets, and this increase is mainly attributable to the growth of electronic products. The stringent European fire safety standards and regulations also promote the use of flame retardants.
Chlorine-based flame retardants have always occupied a major share of the European market and are now facing a crisis of diminishing share and phase-out. This is because of its adverse health effects and the emergence of alternative raw materials such as metal hydroxides.