North America Flame Retardant Thermoplastics Industry Overview
The North America flame retardant thermoplastics market size is expected to reach USD 5.6 billion by 2030, registering a CAGR of 4.8%, during the forecast period, according to a new report by Grand View Research, Inc. Developments in the electrical & electronics and automotive & transportation industry is likely to drive the demand for thermoplastics in these application segments. Increasing use of environment-friendly and energy-saving products is also expected to influence the market, positively.
Building & construction industry in Canada is witnessing lucrative growth opportunities. Low cost involved in facility set up and availability of labor at low cost in comparison with that of the U.S. are the factors that are attracting the attention of manufacturers to set up their plants in Canada. In addition, investments by the government of Canada in infrastructure development are also anticipated to boost the growth of the construction industry in the country, thereby, creating a high demand during the forecast period.
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.
Based on the Product Insights, the market is segmented into Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polypropylene (PP), and Polystyrene (PS)
- In terms of value, Acrylonitrile butadiene styrene (ABS) emerged as the largest product segment and accounted for more than 34.0% of the market in 2021.
- ABS is widely used in electrical & electronics and automotive & transportation application and is gaining popularity owing to its high strength, rigidity, and dimensional stability.
- The demand for polycarbonate in electrical & electronics and automotive & transportation applications has been tremendously rising in the recent past. It is easily moldable and flexible, making it an ideal material for thermoforming applications.
- Owing to its chemical and mechanical properties, polypropylene is extensively used in manufacturing automotive components, packaging & labeling, medical devices, and diverse laboratory equipment among various others.
North America Flame Retardant Thermoplastics Country Outlook
- U.S.
- Canada
- Mexico
Key Companies Profile & Market Share Insights
Most of the key players operating in the North America flame retardant thermoplastics market have integrated their raw material production and distribution operations to maintain product quality and expand regional reach. This provides companies a competitive advantage in the form of cost benefits thus increasing the profit margin.
Companies are undertaking research & development activities to develop new products to sustain market competition and changing end-user requirements. Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in this industry during the coming years.
Some 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
Order a free sample PDF of the North America Flame Retardant Thermoplastics Market Intelligence Study, published by Grand View Research.
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