NEW YORK, May 8, 2020 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05891726/?utm_source=PRN
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. 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.
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.
Further key findings from the repot suggest:
• Acrylonitrile Butadiene Styrene product segment occupied the largest revenue share in 2019 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 2019 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
Read the full report: https://www.reportlinker.com/p05891726/?utm_source=PRN
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