According to a report, “North America Flame Retardant Thermoplastics Market Analysis Report By Application (Electrical & Electronics, Transportation), By Product (Amorphous, Crystalline), And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., the North America flame retardant thermoplastics market size is expected to reach USD 116 million by 2025, according to a new study by Grand View Research, Inc. The market is estimated to expand at a CAGR of 3.3% during the forecast period. Rising demand for flame retardant materials from end-use industries in North America due to high awareness levels regarding fire safety products is driving the regional market. Major consumers include construction, transportation, and electrical and electronics sectors.
Major Key Players of North America Flame Retardant Thermoplastics Market:
Key participants include BASF SE, Chemtura Corporation, The Dow Chemical Company, Israel Chemicals Ltd., Huber Engineered Materials, RTP Company, Clariant International Ltd., and Plastics Color Corporation. Several multinationals with their operations in North America, are focusing on introducing eco-friendly products that have lesser adverse effects on human health. The industry also receives high investment from foreign allied industry investors to culture technology, thereby serving a wider consumer base.
Key Highlights from the report:
U.S. led the North America flame retardant thermoplastics market. Positive outlook of the plastic industry in the region is expected to benefit the flame retardant thermoplastics market
Amorphous flame retardant was the dominant product segment in 2017. These materials change viscosity when heated and exhibit isotropic flow as well as lower mold shrinkage
Transportation is the fastest-growing application segment. Rising production of passenger and commercial vehicles in North America is expected to boost product demand
Key companies in the market include Teknor Apex Company; Royal DSM; Washington Penn Plastics Co., Inc.; Asahi Kasei Plastics North America, Inc.; SABIC; A Schulman; PolyOne Corporation
Several major companies focus on M&A activities, technological innovations, and other strategies to strengthen their market position
For example, in June 2017, BASF announced the increase of propionic acid production capacity at its Verbund manufacturing site by 30,000 metric tons. The expansion is jointly headed by BASF and Sinopec and is expected to start production by 2019.
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U.S. is one of the major markets for thermoplastics. The positive outlook for plastic industry is expected to benefit the North America flame retardant thermoplastics market. The demand for value added plastics is on the rise and with rising investment in downstream products fire retardant materials are expected to witness high production over the forecast period.
Grand View Research has segmented the North America flame retardant thermoplastics market on the basis of product, application, and country:
North America Flame Retardant Thermoplastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America Flame Retardant Thermoplastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Electrical & Electronics
North America Flame Retardant Thermoplastics Country Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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