India Flame Retardants Chemicals Market - Forecast(2023 - 2028)

Report Code: CMR 1477 Report Format: PDF + Excel

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.

By Type: Intumescent Flame Retardants, Organophosphorus Flame Retardants, Endothermic Flame Retardants, Others.
By Product: Non-Halogenated (Inorganic Compounds (Aluminum Hydroxide, Magnesium Hydroxide, Boron Compounds, Antimony Oxides), Nitrogen-based, Phosphorous-based, Others), Halogenated (Brominated Compounds, Chlorinated Compounds).
By Application: Dyes, Varnishes, Synthetic Resins (Epoxy, Polyester, Polyamide, Amino, Others), Hydraulic Fluids, Construction Additives, Electronic Components, Others.
By End-Use Industry: Transportation (Automotive (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicles), Aerospace (Commercial, Military, Others), Marine, Locomotive), Construction (Residential, Commercial, Industrial), Home Appliance, Electrical & Electronics, Adhesives & Sealants, Coatings, Textile, Others.

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)

India Flame Retardants Chemicals Market

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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:

  1. Albemarle Corporation
  2. BASF SE
  3. Clariant
  4. Daihachi Chemical Industry Co., Ltd.
  5. DIC CORPORATION
  6. DuPont
  7. ICL Group
  8. Italmatch Chemicals SpA
  9. J.M. Huber Corporation
  10. 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

Non Halogenated Flame Retardants Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

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1. India Flame Retardants Chemicals Market - Market Overview
    1.1 Definitions and Scope
2. India Flame Retardants Chemicals Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Product
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
3. India Flame Retardants Chemicals Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. India Flame Retardants Chemicals Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. India Flame Retardants Chemicals Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. India Flame Retardants Chemicals Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. India Flame Retardants Chemicals Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. India Flame Retardants Chemicals Market – By Type (Market Size - US$ Million/Billion)
    8.1 Intumescent Flame Retardants
    8.2 Organophosphorus Flame Retardants
    8.3 Endothermic Flame Retardants
    8.4 Others
9. India Flame Retardants Chemicals Market – By Product (Market Size - US$ Million/Billion)
    9.1 Non-Halogenated
        9.1.1 Inorganic Compounds
            9.1.1.1 Aluminum Hydroxide (ATH)
            9.1.1.2 Magnesium Hydroxide
            9.1.1.3 Boron Compounds
            9.1.1.4 Antimony Oxides
        9.1.2 Nitrogen-based
        9.1.3 Phosphorous-based
        9.1.4 Others
    9.2 Halogenated
        9.2.1 Brominated Compounds
        9.2.2 Chlorinated Compounds
10. India Flame Retardants Chemicals Market – By Application (Market Size - US$ Million/Billion)
    10.1 Dyes
    10.2 Varnishes
    10.3 Synthetic Resins
        10.3.1 Epoxy
        10.3.2 Polyester
        10.3.3 Polyamide
        10.3.4 Amino
        10.3.5 Others
    10.4 Hydraulic Fluids
    10.5 Construction Additive
    10.6 Electronic Components
    10.7 Others
11. India Flame Retardants Chemicals Market – By End-Use Industry (Market Size - US$ Million/Billion)
    11.1 Transportation
        11.1.1 Automotive
            11.1.1.1 Passenger Cars
            11.1.1.2 Light Commercial Vehicle
            11.1.1.3 Heavy Commercial Vehicles
        11.1.2 Aerospace
            11.1.2.1 Commercial
            11.1.2.2 Military
            11.1.2.3 Others
        11.1.3 Marine
        11.1.4 Locomotive
    11.2 Building & Construction
        11.2.1 Residential
        11.2.2 Commercial
        11.2.3 Industrial
    11.3 Electrical & Electronics
    11.4 Adhesives & Sealants
    11.5 Coatings
    11.6 Textile
    11.7 Others
12. India Flame Retardants Chemicals Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. India Flame Retardants Chemicals Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Country Level - Major companies
    13.3 Market Share by Key Product Type/Product category - Major companies
14. India Flame Retardants Chemicals Market – Key Company List by Country Premium Premium
15. India Flame Retardants Chemicals Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
    * "Financials would be provided to private companies on best-efforts basis."