The North America flame retardant thermoplastics market size was valued at USD 3.7 billion in 2021 and is expected to expand at a CAGR of 4.8% in the forecast period from 2022 to 2030. Recent developments in the electrical & electronics and automotive & transportation industry are likely to drive the demand for thermoplastics in these application segments. Increase in use of environment-friendly and energy-saving products is also expected to influence the market positively. Ongoing research & developments in technology-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’s application scope are projected to foster the demand.
Rising utilization of flame-retardant thermoplastics in the electrical & electronics, automotive & transportation, building & construction, and industrial application sectors is anticipated to push the manufacturers to backward integration in the value chain during 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 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.
Building & construction industry in Canada is witnessing lucrative growth opportunities. The low cost involved in a facility setup and availability of labor at low cost in comparison with that of the U.S. are the factors that are attracting the attention of the manufacturers to set up their plants in Canada.
In addition, investments by the government of Canada in infrastructure development are also expected to boost the growth of the construction industry in the country, thereby, creating a high demand for flame retardant thermoplastics during the forecast period.
In terms of value, Acrylonitrile butadiene styrene (ABS) emerged as the largest product segment and accounted for more than 34.0% of the market in 2021. Its properties, such as high strength, rigidity, dimensional stability, and low cost over other substitutes make it suitable for the various industries. The lighter weight of ABS also results in ease of usage and transport.
ABS is widely used in electrical & electronics and automotive & transportation application and is gaining popularity owing to 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. Thermoplastics, such as ABS, liquefy, which allows them to be easily injected, molded, and recycled. However, ABS is not used in high-heat situations because of its low melting point. LEGO toys and computer keyboards are also significant applications for Acrylonitrile butadiene styrene thermoplastic compounds
The demand for polycarbonate in electrical & electronics and automotive & transportation applications has been tremendously rising in the recent past. It is easily moldable and flexible, making it an ideal material for thermoforming applications. Polycarbonate is tough & strong and some grades of the plastic are even optically transparent, making it easy to be engineered. Polycarbonate materials are produced by the overall reaction of phosgene and bisphenol A (BPA).
Owing to its chemical and mechanical properties, polypropylene is extensively used in manufacturing automotive components, packaging & labeling, medical devices, and diverse laboratory equipment among various others. It is resistant to several chemical solvents, acids, and bases and has excellent mechanical strength. It is also among the most highly formulated thermoplastics across the globe.
The growing building & construction industry in the U.S. is expected to significantly contribute to the growth of the flame-retardant thermoplastics market. In recent years, the construction industry has witnessed favorable growth in the U.S. on account of increasing infrastructural developments.
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 due to the increasing demand for electronics equipment from the gaming industry. According to Game Industry Biz, the global gaming industry was worth USD 135 billion in 2018 and is continuously growing.
Major companies, such as Electronic Arts Inc., Nintendo, Zynga, and Activision Publishing, Inc., among others, in the gaming industry organize global gaming tournaments that require the construction of various game zones for practicing games. Thus, the growing gaming industry is expected to fuel the growth of the flame-retardant thermoplastics market during the forecast period
The growth of the construction industry, including residential, industrial, and commercial construction, in Mexico is anticipated to contribute to the growth of the flame retardant thermoplastics market during the forecast period. Reconstruction and development of urban infrastructure in marginalized communities are expected to provide major growth opportunities for flame retardant thermoplastics in the building & construction industry.
Most of the key players operating in the North America flame retardant thermoplastics market 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 & 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 during the coming years. Some of the prominent players in the North America Flame Retardant Thermoplastics Market 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 CO., INC.
Koninklijke DSM N.V.
Teknor Apex
Report Attribute |
Details |
Market size value in 2022 |
USD 3.8 billion |
Revenue forecast in 2030 |
USD 5.6 billion |
Growth Rate |
CAGR of 4.8% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2019 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million, CAGR (%) from 2022 to 2030 |
Report coverage |
Revenue forecast, company profiles, competitive landscape, growth factors, trends |
Segments covered |
Product, application, countries |
Region scope |
North America |
Key companies profiled |
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 |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the North America Flame Retardant Thermoplastics Market report based on the product, application, and country:
Product Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)
Acrylonitrile Butadiene Styrene (ABS)
Electrical & Electronics
Housings
Switches
Sockets
Enclosures
Others
Automotive & Transportation
Engine Covers
Interior System
Chassis Suspension System
Other Components
Building & Construction
Industrial
Others
Polycarbonate (PC)
Electrical & Electronics
Housings
Switches
Sockets
Enclosures
Others
Automotive & Transportation
Engine Covers
Interior System
Chassis Suspension System
Other Components
Building & Construction
Flooring
Roofing
Others
Industrial
Others
Polypropylene (PP)
Electrical & Electronics
Housings
Switches
Sockets
Enclosures
Others
Automotive & Transportation
Engine Covers
Interior System
Chassis Suspension System
Other Components
Building & Construction
Flooring
Roofing
Insulation
Others
Industrial
Others
Polystyrene (PS)
Electrical & Electronics
Housings
Switches
Sockets
Enclosures
Others
Automotive & Transportation
Engine Covers
Interior System
Chassis Suspension System
Other Components
Building & Construction
Flooring
Roofing
Insulation
Others
Industrial
Others
Country Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)
U.S.
Canada
Mexico
b. The North America flame retardant thermoplastics market size was estimated at USD 3.7 billion in 2021 and is expected to reach USD 3.8 billion in 2022.
b. The North America flame retardant thermoplastics market is expected to grow at a compound annual growth rate of 4.8% from 2022 to 2030 to reach USD 5.6 billion by 2030.
b. The U.S. dominated the North America flame retardant thermoplastics market with a share of more than 86% in 2021. This is attributable to increased utilization in the building and construction industry for commercial and industrial applications.
b. Some key players operating in the North America flame retardant thermoplastics market include BASF SE; LANXESS; Dow Inc.; ICL; RTP Company; Huber Engineered Materials; Clariant AG; Plastics Color Corporation; Albemarle Corporation; and PolyOne Corporation.
b. Key factors that are driving the North America flame retardant thermoplastics market growth include rising utilization of flame-retardant thermoplastics in the electrical and electronics, automotive and transportation, building and construction, and industrial application sector.
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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 COVID-19 as a key market contributor.
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