North America Flame Retardant Thermoplastics Industry Overview
The North America flame retardant thermoplastics market size was valued at USD 3.7 billion in 2021 and is expected to expand at a CAGR of 4.8% in the forecast period from 2022 to 2030. Recent developments in the electrical & electronics and automotive & transportation industry are likely to drive the demand for thermoplastics in these application segments. Increase in use of environment-friendly and energy-saving products is also expected to influence the market positively. Ongoing research & developments in technology-based flame retardant thermoplastics are likely to boost the market growth as they offer excellent strength and thermal resistance with lower thickness. Technological breakthroughs, innovations, and studies carried out for expanding the product’s application scope are projected to foster the demand.
Rising utilization of flame-retardant thermoplastics in the electrical & electronics, automotive & transportation, building & construction, and industrial application sectors is anticipated to push the manufacturers to backward integration in the value chain during the coming years. Greater participation in the value chain is likely to result in time reduction for transforming raw materials into finished products and in gaining cost advantage.
Gather more insights about the market drivers, restrains and growth of the Global North America Flame Retardant Thermoplastics market
Flame retardant thermoplastics manufacturers are expanding in terms of production capacity and infrastructure, with an aim to cater to the growing market requirements. Moreover, many product manufacturing companies are using acquisition and partnership strategies for procuring raw materials. Mergers and joint ventures are an integral part of this market and allow companies to expand their market position.
Building & construction industry in Canada is witnessing lucrative growth opportunities. The low cost involved in a facility setup and availability of labor at low cost in comparison with that of the U.S. are the factors that are attracting the attention of the manufacturers to set up their plants in Canada.
In addition, investments by the government of Canada in infrastructure development are also expected to boost the growth of the construction industry in the country, thereby, creating a high demand for flame retardant thermoplastics during the forecast period.
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North America Flame Retardant Thermoplastics Market Segmentation
Grand View Research has segmented the North America flame retardant thermoplastics market based on the product, application, and country.
Product Outlook (Volume, Tons; Revenue, USD Million, 2019 – 2030)
- Acrylonitrile Butadiene Styrene (ABS)
- Polycarbonate (PC)
- Polypropylene (PP)
- Polystyrene (PS)
Country Outlook (Volume, Tons; Revenue, USD Million, 2019 – 2030)
- U.S.
- Canada
- Mexico
Key Companies profiled:
Some of the prominent players in the North America Flame Retardant Thermoplastics Market include:
- BASF SE
- LANXESS
- Dow Inc.
- ICL
- RTP Company
- Huber Engineered Materials
- Clariant AG
- Plastics Color Corporation
- Albemarle Corporation
- PolyOne Corporation
- SABIC
- Asahi Kasei Corporation
- WASHINGTON PENN PLASTIC CO., INC.
- Koninklijke DSM N.V.
- Teknor Apex
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