Covestro AG, Solvay, and SABIC are dominating the market for Global Flame Retardant Thermoplastics Market in 2019

Global flame-retardant thermoplastics market is expected to grow a CAGR of 4.7% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.

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Global flame-retardant thermoplastics market is a highly concentrated market which includes key players and local players. The market has witnessed increased strategic developments owing to favourable market scenario. The rapid industrialization has simultaneously increased the need for stringent safety and security measures across various industries, especially in building & construction, electronics, and automotive industry. Based on historical data, the number of injured and dead people from fire combustion products has been larger than the number of injure and dead people from direct heat/flame exposure; therefore, flame retardant materials have emerged as an essential safety protocol in order to address the loss of material and risks caused by a potential fire. Therefore, tools and equipment those are susceptible to fire hazards and ignition are developed using flame retardant thermoplastics. The market will prominently grow in the coming years due to need of enabling the fire retardancy in polymers. Low price range of flame-retardant thermoplastics as well as high ROI results is drawing the attention of SMEs to the flame retardant thermoplastics market.

The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For an instance, in February 2018, LANXESS acquired phosphorus additive business of Solvay. The company also acquired the U.S. production site of Solvay in Charleston, South Carolina. The production site consists of six production plants each manufacturing flame-retardant additives and intermediate products for agrochemicals. The acquisition will help the company to grow its sales in mid-sized markets and the North America and Asia regions.

Covestro AG, Solvay and SABIC dominated the global flame-retardant thermoplastics market. The other key players existing in the market includes LyondellBasell Industries Holdings B.V., EMS-CHEMIE HOLDING AG, Mitsubishi Engineering-Plastics Corporation, LANXESS, LOTTE ADVANCED MATERIALS CO., LTD., LATI Industria Termoplastici S.p.A., Idemitsu Kosan Co.,Ltd., Radici Partecipazioni SpA, Trinseo, LG Chem., TORAY INDUSTRIES, INC., RTP Company, Dow, BASF SE, PMC Group, Inc., PolyOne, DSM, DuPont, and Asahi Kasei Corporation and others.

Covestro AG:

Covestro AG headquartered in Leverkusen, Germany, was established in 2015. The company is engaged in manufacturing of polymer materials. The company has four operating divisions namely, polyurethanes, polycarbonates, coatings, adhesives, specialties, and other, among which polycarbonates is the market focused business division. Covestro AG focuses on producing the polymer materials for various industries worldwide. The product portfolio offered by the company comprises of polycarbonates, polyurethanes, films, solid and multiwall sheets, thermoplastic polyurethanes, elastomers, coatings, adhesives.

It has its wide geographic presence in the Europe, Americas, and Asia-Pacific with workforce of approximately 16,770 employees. The company has various subsidiaries, such as Covestro B.V. (Netherlands), Covestro Elastomers SAS (France), Covestro International SA (Switzerland), Covestro S.r.l. (Italy), Covestro UK Limited (U.K.) among others.

Solvay:

Solvay headquartered in Brussels, Belgium, was founded in 1863. The company focuses on developing innovative and sustainable solutions related to advanced materials and specialty chemicals. Its product portfolio include amines, antioxidants and stabilizers, barium and strontium derivatives, calcium and magnesium derivatives, composites, flavors and fragrances, fluorine derivatives, lithium derivatives, mining chemicals, peroxygens, phenols and derivatives, phosphorus specialties, polymers, process materials, rare earths and metal compounds, silicium derivatives, sodium derivatives, solvents, specialty chemicals, specialty polymers, sulfur derivatives, surfactants.

It has its wide geographic presence in the Asia-Pacific, Europe, Middle East & Africa, Latin America, and North America with workforce of approximately 24,500 employees. It operates through its subsidiaries, such as Solvay Argentina SA, Buenos Aires (Argentina), Cytec Asia Pacific Holdings Pty Ltd, Baulkham Hills (Australia), Solvay Stock Option Management S.P.R.L., Brussels (Belgium), Techpolymers Industria E Comercio Ltda, Sao Paulo (Brazil), Cytec Canada Inc, Niagara Falls Welland (Canada) among others.

SABIC:

SABIC is headquartered in Riyadh, Saudi Arabia, was founded in 1976. The company focuses on manufacturing of petrochemicals, specialties, agri-nutrients, and metals such as polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers. SABIC offers wide range of products in the categories of polymers, chemicals, agri-nutrients, metals, and specialties. The company operates through three business segments which include petrochemicals & specialties, agri-nutrients, hadeed, among which petrochemicals & specialties is the market focused business segment. It offers compounding solutions in the form of polycarbonate/acrylonitrile-butadiene-styrene based thermoplastic blends, flame retardant polyester and polycarbonate resins, under its market focused product category.

It has its wide geographic presence in the America, Europe, Middle East & Africa, and Asia-Pacific with workforce of approximately 33,000 employees. It operates through its subsidiaries, such as SABIC Innovative Plastics Argentina SRL (Argentina), SABIC Australia Pty Ltd. (Australia), SABIC Innovative Plastics South America (Brazil), SABIC Innovative Plastics Canada, Inc (Canada), SABIC Innovative Plastics Shanghai Co., Ltd (China) and others.