Flame-resistant thermoplastics will soon become a common building material in North America, according a report from FMI

The North American flame retardant thermoplastics market is set to witness an impressive growth rate of 4.8% over the forecasted years of 2022 to 2032. The North American flame retardant thermoplastics market size is anticipated to reach a valuation of around US$ 6.2 Billion by the end of the year 2032 by picking up from the current valuation of US$ 3.9 Billion in the year 2022.

The demand for flame retardant thermoplastics is anticipated to increase due to ongoing advancements to raise their quality and safety requirements. Numerous North American flame retardant thermoplastics businesses are raising their R&D budgets in an effort to produce new goods that are less hazardous to public health and their surroundings.

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It is a pliable and highly deformable polymer, which makes it perfect for thermal fabrication purposes resulting in higher flame retardant thermoplastics market opportunity in North America that is being exploited. The North America flame retardant thermoplastics market growth can also be ascribed to rising consumer recognition of the benefits of flame retardant thermoplastics as building materials.

Due to its great durability, stiffness, and low shrinkage, ABS is utilized extensively making it the highest selling segment of the North America flame retardant thermoplastics market. ABS is a robust thermoplastic polymer that is flame-retardant, resistant to heat and corrosive chemicals, awarding it as the most important segment for the North America flame retardant thermoplastics market growth.

Key Takeaways from Market Study

The overall growth of the North America flame retardant thermoplastics market beer market is estimated to be around US$ 2.3 Billion during the coming decade by recording an average CAGR of 4.8%.
Due to its increasing popularity of high tensile strength, stiffness, and dimensional stability, the Acrylonitrile Butadiene Styrene product sector held the majority of the profit share.
This North America flame retardant thermoplastics market size is anticipated to be driven by rising demand for environmentally friendly and energy-saving goods and services.
The automotive and transportation application sector is expected to grow at a rate of 4.6% over the course of the projection period, representing more than 17% of all flame retardant thermoplastics applications in North America in 2021.
The demand for flame retardant thermoplastics items based on polystyrene is anticipated to increase due to strict environmental laws and regulations and an emphasis on indoor air quality.

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Competitive Landscape

Some of the well-known North America flame retardant thermoplastics market players are 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., and Teknor Apex among others.

Recent Developments in the North America Flame Retardant Thermoplastics Market:

BASF SE disclosed In January 2021 that it has collaborated with CoHaMa Co., Ltd. to develop hand straps for use in rail and aviation transportation systems. These hand straps or TPU, whose sales are anticipated to increase in the Northern American region, are made of flame-retardant thermoplastic polyurethane without any halogen content.
In September 2019, ICL-IP announced that it would increase the rate at which bromine compounds were generated and is expected to double its FR1025's production capabilities. It is an eco-friendly thermoplastic flame retardant called FR1025 is expected to improve the company's financial situation in the near future.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.