India Flame Retardants Market To Reach $1,247.2 Million By 2030

India Flame Retardants Market Growth & Trends

The India flame retardants market size is expected to reach USD 1,247.2 million by 2030, expanding at a CAGR of 9.3% during the forecast period, as per the new report by Grand View Research, Inc. The growth is expected to be driven by surging investments in the construction, automotive, transportation, and electrical industries, which are key consumers of flame retardants in India as they have to meet fire safety and prevention regulations.

Rising awareness among consumers regarding crucial escape time during fire breakouts and the surging effectiveness of flame retardants, along with their increasing advantages, are proving beneficial for growth in India. The demand for consumer electronics has witnessed positive growth in the country in the recent past owing to the rising disposable income of consumers, improving the living standard of the masses, and expanding product portfolios of manufacturers. The flourishing consumer electronics industry in India is also expected to fuel the growth of the market in the coming years.

Companies are making efforts to develop innovative products that can offset the factors restraining the growth in the country. Consequently, a high degree of integration across the value chain is taking place in India to optimize supply chain efficiency and maximize profit returns. The product manufacturers are also focused on establishing long-term supply contracts with distributors/suppliers to ensure a continuous supply of their products in the market. They can sell their products either directly or through distribution channels to various end-use industries such as construction, transportation, and electronics.

The key players operating in the flame retardants market in India are Albemarle Corporation, BASF SE, Clariant, DSM, and DuPont. These players account for significant shares, owing to their widespread supply chains, along with their vast product portfolios. In comparison with the other market players, the top three companies in the market, including Albemarle Corporation, BASF SE, and Clariant, witness more penetration of their products in the construction, transportation, and electronics, industries. An extensive range of flame retardants offered by these companies to end users has fueled surged their sales revenue.

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India Flame Retardants Market Report Highlights

• The powder form segment dominated the market with a revenue share of 58.6% in 2022. This is attributed to the surging usage of powered Flame Retardants in latex paints, clear coatings, vinyl esters, oil-based paints, etc.

• The non-halogenated segment is projected to witness the fastest growth, in terms of revenue, with a CAGR of 9.7% from 2023 to 2030. The environment-friendly characteristics of the product are anticipated to play a prominent role in its increasing demand

• Antimony trioxide is estimated to be the fastest-growing application, in terms of revenue, with a CAGR of 10.0% from 2023 to 2030. As it is a highly efficient flame retardant and can be used in low concentrations to achieve the desired flame-retardant properties

• The electrical & electronics end-use segment held the largest volume share of 39.3% in 2022. Electrical and electronic devices have a high risk of fire due to the presence of heat sources and electrical currents. Flame Retardants are used to reduce the risk of fire and limit the spread of flames in case of a fire

• The market exhibits a high level of forward integration of companies across the value chain owing to reduce the overall cost and subsequent increase in profit margins of the companies

India Flame Retardants Market Segmentation

Grand View Research has segmented the India flame retardants market based on form, product, and end-use:

India Flame Retardants Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Powder

• Liquid

India Flame Retardants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Halogenated Flame Retardants

  • Brominated

  • Chlorinated Phosphates

  • Antimony Trioxide

  • Others

• Non-Halogenated Flame Retardants

  • Aluminum Hydroxide

  • Magnesium Dihydroxide

  • Phosphorus Based

  • Others

India Flame Retardants End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Construction

• Transportation

• Electrical & Electronics

• Others

List of Key Players in the India Flame Retardants Market

• ACURO ORGANICS LIMITED

• Albemarle Corporation

• BASF SE

• Clariant

• DSM

• DuPont

• Huber Engineered Materials

• ICL (Israel Chemicals Ltd)

• Italmatch Chemicals S.p.A

• LANXESS

• Niknam Chemicals Private Limited