North America Flame Retardant Thermoplastics Market Research, Key Players, Analysis And Forecast 2027: Grand View Research Inc.
The North
America flame retardant thermoplastics market size is anticipated to reach USD 4.9 billion by 2027, registering a CAGR of 4.6% during the forecast
period, according to a new report by Grand View Research, Inc. Developments in
the electrical and electronics and automotive and 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.
The global COVID-19 pandemic has led to a
sudden pause to manufacturing activities across the globe, affecting the demand
for plastics and also production & processing of them. The most critically
impacted end-use segments of the plastics industry include automotive &
transportation, consumer goods, industrial equipment, construction, and
electronics. The report will account for Covid19 as a key market contributor.
Building and construction industry in
Canada is witnessing lucrative growth opportunities. Low cost involved in
facility setup and availability of labor at low cost in comparison with that of
U.S. are 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
construction industry in the country, thereby, creating a high demand over the
forecast period.
Flame retardant thermoplastics are
finding increased utilization in building and construction industry for
commercial and industrial applications. Construction industry in 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. Electrical and electronics industry in the
country is growing on account of increasing demand for electronics equipment
from gaming industry which is expected to drive the market.
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North America
Flame Retardant Thermoplastics Market Report Highlights
- Acrylonitrile Butadiene Styrene product
segment occupied the largest revenue share in 2020 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 and solutions is expected to drive North
America flame retardant thermoplastics market.
- The automotive and transportation
application segment accounted for 17.2% market share in 2020 and is
projected to expand at a CAGR of over 4% over forecast period
- Stringent environmental rules and
regulations and focus on indoor air quality is anticipated to drive the
polystyrene based products
- Increasing investment from government and
private institutions in the automotive and transportation and building and
construction sector is projected to contribute to the demand for these
flame-retardant thermoplastics
- Key market players 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,
Koninklijke DSM N.V., and Teknor Apex
Ongoing research and developments in nanotechnology-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
application scope are projected to foster demand.
Rising utilization of flame-retardant thermoplastics in the
electrical and electronics, automotive and transportation, building and
construction, and industrial application sectors is anticipated to push
manufacturers to backward integration in the value chain over 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.
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 of the 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.
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Most of the key players 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 and 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 in the coming years. Some of
the prominent companies manufacturing these products 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; Koninklijke DSM N.V.; and Teknor Apex.
Grand View Research has segmented the North America flame
retardant thermoplastics market on the basis of product and country:
North America Flame Retardant
Thermoplastics Product Outlook (Volume, Tons; Revenue, USD Million, 2016 -
2027)
·
Acrylonitrile Butadiene Styrene (ABS)
o
Electrical & Electronics
o
Housings
o
Switches
o
Sockets
o
Enclosures
o
Others
o
Automotive & Transportation
o
Engine Covers
o
Interior System
o
Chassis Suspension System
o
Other Components
o
Building & Construction
o
Industrial
o
Others
·
Polycarbonate (PC)
o
Electrical & Electronics
o Housings
o Switches
o Sockets
o Enclosures
o Others
o
Automotive & Transportation
o Engine
Covers
o Interior
System
o Chassis
Suspension System
o Other
Components
o
Building & Construction
o Flooring
o Roofing
o Others
o
Industrial
o
Others
·
Polypropylene (PP)
o
Electrical & Electronics
o Housings
o Switches
o Sockets
o Enclosures
o Wires
and Cables
o Battery
o Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
More Information:www.grandviewresearch.com
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