The North America flame retardant thermoplastics market is expected to reach a market valuation of USD 3.9 Billion by the year 2022, accelerating with a CAGR of 4.8% by 2022 to 2032. The North America flame retardant thermoplastics market share is anticipated to be valued at about USD 6.2 Billion by 2032 end.
The sales of flame retardant thermoplastics in recent years are probably being driven by recent advancements in consumer electronics and automobiles & related industries. The demand for North America flame retardant thermoplastics is expected to be boosted by technological developments, innovations, and research to broaden the applicability of the commodity.
| Attributes | Value |
|---|---|
| North America Flame Retardant Thermoplastics Market Size (2022) | USD 3.9 Billion |
| North America Flame Retardant Thermoplastics Market Projected Size (2032) | USD 6.2 Billion |
| North America Flame Retardant Thermoplastics Market Value CAGR (2022 to 2032) | 4.8% |
It can also be anticipated that increased use of environmentally and energy-friendly solutions would have a favorable impact on the North America flame retardant thermoplastics market share. Because of stringent environmental rules and regulations and an increased focus on indoor air quality, it is projected that demand for products made of polystyrene would be crucial for the emerging trends in the North American flame retardant thermoplastics market.
The North America flame retardant thermoplastics market growth is projected to be boosted by continuous research and technological advancements in fire-resistant polymer composites, which provide great toughness and heat resistance with reduced thickness.
Recently, as evident from the North American flame retardant thermoplastics market survey, there has been a sharp increase in the demand for polycarbonate products in industrial electronic equipment as well as automobile and aerospace applications.
Because it is also equally durable and sturdy and certain grades are even optically clear this segment of North America flame retardant thermoplastics market share has acquired a considerable amount of traction in the last couple of years.
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Flame retardant thermoplastics in the building and construction sector are anticipated to see significant growth prospects due to the renovation and expansion of city amenities for disadvantaged populations.
In the upcoming years, the new market research report on North America flame retardant thermoplastics projects an increase in the use of the product in several new application sectors that would force businesses to reverse integrate mostly in the supply chain.
Thus a greater involvement in the production process is expected to speed up the process of turning resources into goods and services and provide North America flame retardant thermoplastics market players a price advantage over their competitors.
Thermoplastics, like ABS, deform, making it simple to infuse, shape, and regenerate them. However, owing to its low melting point, ABS is not utilized in high-heat conditions which could limit the growth of the North America flame retardant thermoplastics market growth prospects to a certain extent.
Stringent government regulations for controlling the chemical residues released from flame retardant thermoplastics manufacturing plants can pose as a major challenge to the growth of the target market. Restriction on the sales and uses of halogen is also anticipated to limit the North American flame retardant thermoplastics growth in the future days.
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The demand for these flame-retardant thermoplastics is anticipated to be boosted by rising funding from public and private organizations for the safety of public buildings and areas.
Acrylonitrile butadiene styrene (ABS), which accounted for more than 34% of the 2021 North American flame retardant thermoplastics market statistics report, established itself as a leading product group in terms of value. It is excellent for a variety of sectors thanks to its qualities, including high tensile strength, stiffness, impact resistance, and inexpensive cost compared to its alternatives.
ABS is easier to use and carry because of its reduced weight making it the most sought-after product segment in the North American flame retardant thermoplastics market size. Computer hardware and LEGO sets are also the prominent uses of acrylic butadiene styrene thermoplastic polymers consequently turning up this segment into the most profitable segment for the North American flame retardant thermoplastics market players.
Over the course of the forecast period, the automotive and transportation application sub-segment is anticipated to expand at a pace of 4.6%. By accounting for more than 17 percent of all flame retardant thermoplastics applications in North America in 2021.
With the proliferation of megaprojects with a focus on green infrastructure, the USA flame-retardant thermoplastics market is predicted to rise exponentially.
The USA flame retardant thermoplastics market has been perpetually supported by its building and construction sector which uses these materials more often for manufacturing and commercial applications. The market for flame retardant thermoplastics is also anticipated to increase greatly as a result of the USA's expanding affordable housing sector.
The USA real estate sector has recently experienced a positive trend as a result of an increase in infrastructure projects is expected to propel the flame retardant thermoplastics market key trends and opportunities as well. Moreover, due to increased import taxes, shifting trade agreements, and a booming off-shore trade market the flame retardant thermoplastics market in the USA is projected to remain dominant during the projected period.
Canada's building and construction sector is seeing profitable growth prospects promising for North America flame retardant thermoplastics market opportunities in ample amounts. Flame retardant thermoplastics manufacturers are also choosing to establish their factories in Canada given the lower establishment costs associated with facilities and the lower cost of production compared to that in the USA.
Additionally, the Canadian government's expenditures in infrastructural development are anticipated to fuel the expansion of the nation's building projects, leading to a strong marketplace for North America flame retardant thermoplastics market future trends during the course of the forecast period.
Similarly, over the forecast timeline of 2022 to 3032, it is predicted that Mexico's expanding residential, industrial, and commercial building sectors would help drive the sales of flame retardant thermoplastics in the country.
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In order to meet the escalating market demands, North America flame retardant thermoplastics producers are increasing their infrastructure and manufacturing capacity. Additionally, a lot of businesses that make flame retardant thermoplastics products employ takeover and collaboration techniques to source their input resources.
This North America flame retardant thermoplastics industry is severely fragmented and still relies heavily on consolidations and joint projects, which enable businesses to increase their marketplace presence.
To retain customer satisfaction and broaden their geographical reach, the majority of the flame retardant thermoplastics market key players in North American have equipped their businesses for producing and distributing raw materials. As a result, the profit margin has increased while giving businesses a strategic profit advantage.
North American flame retardant thermoplastics market prominent players are engaging in Research and Development operations to create new goods in order to keep up with price competition and evolving consumer choice. It is anticipated that in the upcoming years, research on novel materials with multi-property combinations will find widespread adoption in this market.
The North American flame retardant thermoplastics market is expected to grow at 4.8% CAGR from 2022 to 2032.
The North American flame retardant thermoplastics market is estimated to be around USD 3.7 Billion in 2022.
The North American flame retardant thermoplastics market is anticipated to reach a valuation of USD 6.2 Billion by 2032.
The Acrylonitrile butadiene styrene (ABS) product segment contributes to more than 34% of the market share.
Canada is the rapidly growing market for the North America flame retardant thermoplastics business.
1. Executive Summary 2. Market Overview 3. Market Background 4. Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product 5.1. Acrylonitrile Butadiene Styrene (ABS) 5.2. Polycarbonate (PC) 5.3. Polypropylene (PP) 5.4. Polystyrene (PS) 6. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Electrical & Electronics 6.1.1. Housings 6.1.2. Switches 6.1.3. Sockets 6.1.4. Enclosures 6.1.5. Others 6.2. Automotive & Transportation 6.2.1. Engine Covers 6.2.2. Interior System 6.2.3. Chassis Suspension System 6.2.4. Other Components 6.3. Building & Construction 6.4. Industrial 6.5. Others 7. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Key Countries Market Analysis 10. Market Structure Analysis 11. Competition Analysis 11.1. BASF SE 11.2. LANXESS 11.3. Dow Inc. 11.4. ICL 11.5. RTP Company 11.6. Huber Engineered Materials 11.7. Clariant AG 11.8. Albemarle Corporation 11.9. PolyOne Corporation 11.10. SABIC 11.11. Asahi Kasei Corporation 11.12. WASHINGTON PENN PLASTIC CO., INC. 11.13. Koninklijke DSM N.V. 11.14. Teknor Apex 12. Assumptions & Acronyms Used 13. Research Methodology
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North America Flame Retardant Thermoplastics Market
