North America Flame Retardant Thermoplastics Market Growth & Trends
The North America flame retardant thermoplastics market size is expected to reach USD 5.6 billion by 2030, registering a CAGR of 4.8%, during the forecast period, according to a new report by Grand View Research, Inc. Developments in the electrical & electronics and automotive & 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 & construction industry in Canada is witnessing lucrative growth opportunities. Low cost involved in facility set up and availability of labor at low cost in comparison with that of the U.S. are the 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 the construction industry in the country, thereby, creating a high demand during the forecast period.
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 on account of increasing demand for electronics equipment from the gaming industry, which is expected to drive the market.
North America Flame Retardant Thermoplastics Market Report Highlights
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook