Aug 1, 2022   SOURCE: BusinessWire

North America Flame Retardant Thermoplastics Market Trends Analysis Report 2022 - ResearchAndMarkets.com

The "North America Flame Retardant Thermoplastics Market Size, Share & Trends Analysis By Product (Polycarbonate, Polypropylene, Polystyrene), By Application (Electronics, Automotive, Construction, Industrial), And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The North America flame retardant thermoplastics market size is expected to reach USD 5.6 billion by 2030, registering a CAGR of 4.8%,

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.

Flame retardant thermoplastics are finding increased utilization in the building & construction industry for commercial & industrial applications. The construction industry in the U.S. is expected to observe growth owing to new import tariffs, changing trade deals, a strong economy, proliferation of mega projects, focus on smart cities, and increasing household construction.

The electrical & electronics industry in the U.S. is growing on account of increasing demand for electronics equipment from the gaming industry, which is expected to drive the market.

North America Flame Retardant Thermoplastics Market Report Highlights

  • The North America flame retardant thermoplastics market was valued at USD 3.7 billion in 2021 and is expected to expand at a CAGR of 4.8% from 2022 to 2030
  • Acrylonitrile Butadiene Styrene product segment occupied the largest revenue share on account rising trend of its high strength, rigidity, and dimensional stability.
  • ABS is a tough flame-retardant thermoplastic material and is resistant to physical impact, corrosive chemicals, and heat
  • Rising demand for environment-friendly and energy-saving products & solutions is expected to drive this market
  • The automotive & transportation application segment accounted for more than 17.0% in North America in 2021 and is projected to expand at a CAGR of 4.6% during forecast period
  • Stringent environmental rules & regulations and focus on indoor air quality is expected to drive the polystyrene based products
  • Increasing investment from government & private institutions in the automotive & transportation and building & construction sector is projected to contribute to the demand for these flame-retardant thermoplastics

Market Dynamics

Market Driver Analysis

  • Rising Awareness for Halogen-Free Flame-Retardants
  • Growth in Automotive Industry
  • Growing Demand from Electrical & Electronics Industry

Market Restraint Analysis

  • Fluctuating Raw Material Prices
  • Stringent Government Regulations in the Region in Line to the Chemicals Used

Business Environment Analysis

  • Industry Analysis - Porter's Five Forces Analysis
  • Industrial Plastics Market - PESTEL Analysis

Company Profiles

  • 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

For more information about this report visit https://www.researchandmarkets.com/r/o3231u