PUBLISHER: Grand View Research | PRODUCT CODE: 1433704
PUBLISHER: Grand View Research | PRODUCT CODE: 1433704
The North America flame retardant thermoplastics market size is anticipated to reach USD 5.66 billion by 2030 and it is projected to grow at a CAGR of 4.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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 to expand 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 expected 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.
Increasing fire safety regulations and rising demand for lightweight and high-performance materials are expected to propel the demand of flame retardant thermoplastics market in North America. Stringent fire safety regulations across the region are mandating the use of flame retardant materials across numerous industries such as building & construction, electrical & electronics, and consumer goods.
Flame retardant additives are anticipated to increase the production costs of flame retardant thermoplastics, impacting their prices and market competitiveness. In addition, some flame retardant additives negatively impact the mechanical properties of thermoplastics requiring high optimization to maintain desired performance.