The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Textile Flame Retardants Market Growth & Trends
The global textile flame retardants market size is expected to reach USD 682.6 million by 2027 registering a CAGR of 3.9%, as per a new report by Grand View Research Inc. The market growth is expected to be majorly driven by the rising demand from industrial, defense, public safety services, transportation, and household end-use sectors across the globe.
The market has observed a rise in the demand for high-quality flame-retardant textile fibers. As a result, manufacturers have significant opportunities to provide uniform and high-quality products through an enhanced supply chain. The manufacturing process plays a vital role in determining the quality and quantity of the product.
Aluminum hydroxide-based flame retardants emerged as one of the prominent product segments. The growth in this segment can be attributed to increasing product demand for textile back coating applications. Furthermore, restrictions on the usage of halogenated products, such as bromine and chlorine, have added on to the rising demand for aluminum hydroxide-based flame retardants.
Asia Pacific is one of the potential markets owing to high demand from end-use industries, favorable government initiatives in developing economies, technological developments, and improved fire safety measures. Moreover, the region, especially China, is a hub for manufacturing textile products and is also a prominent direct exporter of end product, i.e. flame-retardant fabrics to the developed economies of North America and Europe.
However, limitations in regulatory framework compared to other regions are projected to challenge the market growth in APAC over the forecast period. Trade halts, supply chain disruptions, and industrial shutdowns caused by the impact of COVID-19 in some of the major economies, such as U.S. and China, are likely to add on to the industry challenge in 2020.
Textile Flame Retardants Market Report Highlights
- Brominated product segment held the largest market share in 2019 and will retain the dominant position throughout the forecast years
- Polyester application is expected to account for the maximum market share by 2027 while PU segment is estimated to register the fastest CAGR over the forecast period
- Durable segment is expected to hold a prominent market value share and witness a growth of 3.9% between 2020 and 2027
- Back coating is likely to be the largest technology segment while foam coating is likely to register the fastest CAGR from 2020 to 2027
- Asia Pacific is expected to be the dominant consumer, owing to the prominence of industrial end-use sector in the region
- Strategic alliances between major market participants to increase market penetration and profit margins are likely to be witnessed more during the forecast period