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India Flame Retardants Chemicals Market - Forecast(2023 - 2028)
India Flame Retardants Chemicals Market Overview
The India Flame Retardants Chemicals Market size
is forecast to grow at a CAGR of 6.4% during the forecast period 2022-2027 and reach US$319.2 million by 2027. Flame retardant
chemicals are primarily applied as additives to base materials used in multiple
industries in order to slow down or prevent the growth of the fire. It can be
categorized into various product types such as non-halogenated chemicals
composed of aluminum hydroxide, magnesium hydroxide, antimony trioxide,
phosphorous and more and halogenated chemicals composed of brominated
compounds and chlorinated compounds. It is used in a wide range of industries
such as building & construction, electrical & electronics, automotive,
aerospace and other industries. In 2020, the COVID-19 lockdown had
significantly reduced production activities as a result of the country-wise
shutdown of manufacturing sites, shortage of labor and the decline of the
supply and demand chain in India, thus, affecting the Indian Flame Retardants Chemicals market size. However, a steady recovery in automobile
production has been witnessed in India since 2021. Flame retardant chemicals
are primarily used in interior parts and components of an automobile such as
seats, cables, wires and other electronic components, owing to their excellent
process stability, high impact resistance and heat resistance. According to
the International Organization of Motor Vehicle Manufacturers (OICA), the total
automobile production in India reached 43,99,112 units in 2021, an incline of
30% from 33,94,446 units in 2020. An increase in automobile
production along with the surging demand from the aerospace industry acts as the
major driver for the market. On the other hand, health hazards associated with
the use of flame retardant chemicals may confine the growth of the market.
Report Coverage
The “India Flame Retardants Chemicals Market Report– Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the India Flame Retardants Chemicals Industry.
Key Takeaways
- The properties of flame retardant chemicals such as high tensile strength, impact resistance, excellent heat resistance and superior fire protection capabilities make it ideal for use in construction, automotive and electronic industries.
- Non-halogenated
product type held a significant share in the India Flame Retardants Chemicals Market in 2021. Its wide range of properties and benefits such as high strength,
non-toxicity and more is expected to increase its demand over other product
types in the market.
- Construction
industry held the largest portion of the India Flame Retardants Chemicals Market share in 2021, owing to the increasing demand for flame retardant chemicals
for use in construction materials for fire prevention and protection.
Figure: India Flame Retardants Chemicals Market Revenue, 2021-2027 (US$ Million)
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India Flame Retardants Chemicals Market Segment Analysis – By Product
The non-halogenated segment held a significant
portion of the India Flame Retardants Chemicals Market share in 2021, owing to the
range of benefits it offers over other types of flame retardant chemicals. For
instance, non-halogenated flame retardant chemicals composed of aluminum hydroxide, magnesium hydroxide, antimony trioxide,
phosphorous and more
are non-toxic in nature and do not release harmful gases upon combustion as
opposed to halogenated flame retardant chemicals. Moreover, non-halogenated
flame retardant chemicals are not persistent, owing to which, they do not cause
bioaccumulation as compared to halogenated flame retardant chemicals. They are
capable of functioning independently which is an added advantage as they do
not require a synergist in order to provide the required performance.
Furthermore, non-halogenated flame retardant chemicals are greener additives
and are not associated with any environmental or regulatory concerns in
comparison to halogenated product types. Hence, all of these benefits are
driving its demand for halogenated product types, which in turn, is expected
to boost the India Flame Retardants Chemicals Market size during the forecast period.
India Flame Retardants Chemicals Market Segment Analysis – By End-Use Industry
The construction industry held the largest portion of the India Flame Retardants Chemicals Market share in 2021 and is expected to grow at a CAGR of 6.6% between 2022 and 2027, owing to the increasing demand for flame retardant chemicals from the construction sector in India. For instance, in August 2021, the construction of the airport terminal commenced in Rajkot, India. The airport will cover an area of 1,032 hectares, while its new terminals will be capable of handling 1,300 passengers at a time. The new airport is scheduled to be operational in 2023. Furthermore, recent insights from Invest India state that there are around 115 future construction projects that are currently under the planning phase in India in 2022. The total investment in these construction projects is around US$ 11.63 million. It includes the construction of hotels, shopping complexes, office buildings and more. Thus, such surging developments in the construction sector in India are expected to increase the demand for flame retardant chemicals as an additive for use in construction materials utilized in floors, roofs, electric wires and cables of a building, owing to its excellent heat resistance and fire protection capabilities. This is expected to accelerate the growth of the market in India during the forecast period.
India Flame Retardants Chemicals Market – Drivers
An increase in automobile production is most likely to increase demand for the product
Flame retardant chemicals composed of aluminum hydroxide, magnesium hydroxide, antimony trioxide,
phosphorous, nitrogen and more
are primarily used in interior parts and components of an automobile such as
seats, cables, wires and other electronic components, owing to their excellent
process stability, high impact resistance and heat resistance. For instance, according to the International Organization of Motor
Vehicle Manufacturers (OICA), the total light commercial vehicle production in
India reached 4,86,911 units in 2021, an incline of 26.2% from 3,85,691 units
in 2020. Similarly, the total passenger car production in India reached
36,31,095 units in 2021, representing a growth of 28% in comparison to 2020. It
further states that the production of heavy trucks in India increased
significantly in 2021 and reached 2,46,407 units from 1,22,576 units in
2020. Furthermore, in October 2021, Godawari E-mobility Ltd. commenced the
development of an electric vehicle plant in Raipur with the aim of increasing
the production of electric vehicles in the country. The development of the new
facility is scheduled to be completed by 2023. Hence, such surging automobile
production in India is expected to increase the demand for flame retardant chemicals
for use in automobile bodies and its electronic components, owing to its
above-mentioned benefits. This is expected to drive the growth of the market in
India in the upcoming years.
Surging demand from the aerospace industry is most likely to increase demand for the product
Flame retardant chemicals are primarily used
in materials on airplanes with the aim of slowing the propagation of fire. They
are used in various components of an aircraft which include glare shields, side
panel backing and cabin interiors including seats, walls, carpets, overhead
luggage storage compartment along with the aircraft’s electrical and electronic
systems. For instance, in November 2021, the Indian government
announced its plan to launch its military aviation project that aims at
building a fifth-generation fighter or medium combat aircraft incorporated with
advanced stealth features and capabilities. The aircraft is scheduled for
launch by the end of 2022. Moreover, the Indian Air Force (IAF) announced its
plans to deliver 73 Tejas Mark-1A fighter jets which are scheduled to be
delivered from 2024 to 2028. Thus, an increase in aircraft production in India
is expected to increase the demand for flame retardant chemicals for use in
aircraft bodies, owing to its range of properties such as high heat resistance,
high impact resistance and more. This is expected to accelerate the growth of
the flame retardant chemicals market in India during the forecast period.
India Flame Retardants Chemicals Market – Challenges
Health hazards associated with the use of flame retardant chemicals may confine the market growth
According to the National Institute of Environmental Health Science,
flame retardant chemicals are known to cause adverse health effects in humans,
which include endocrine and thyroid disruption, reproductive toxicity and
negative effects on the immune system. In severe cases, it is also known to
have adverse effects on fetal and child development along with their
neurological functioning. During the manufacturing process,
these chemicals can get
into the air, water and soil. They can
also leak from products into the air or through the unrestrained burning and
disassembling of electric and electronic waste. Furthermore, some studies indicate
that long-term exposure to these flame retardant chemicals can also lead to
cancer. Thus, such health hazards associated with the use of flame retardant
chemicals may confine the growth of the market.
India Flame Retardants Chemicals Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the India Flame Retardants Chemicals Industry. The top 10 companies in India Flame Retardants Chemicals Market are:
- Albemarle Corporation
- BASF SE
- Clariant
- Daihachi Chemical Industry Co., Ltd.
- DIC CORPORATION
- DuPont
- ICL Group
- Italmatch Chemicals SpA
- J.M. Huber Corporation
- LANXESS
Recent Developments
- In June 2020, FLEXCON, which has its subsidiary in India, launched V-59FR non-halogenated flame-retardants specifically for applications within the transportation industry. It is ideal for use in aerospace and automotive applications such as floor coverings, seat cushions, seat belts, compartment shelves and more.
- In
October 2019, Songwon Industrial Co., Ltd., which has its subsidiary in India, launched its
new range of flame retardant chemicals. The main aim of this launch was to
expand the company’s product portfolio and to meet the increasing demand for
sustainable solutions from the automotive, electronics and other industrial
sectors.
Relevant Reports
Report Code: CMR 23682
Report Code: CMR 0083
Report Code: CMR 17853
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