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Showing posts with the label Flame Retardant Thermoplastics Market Trend

North America Flame Retardant Thermoplastics Market Segments and Key Trends 2018-2025

Rising demand for flame retardant materials from end-use industries in North America due to high awareness levels regarding fire safety products is driving the regional market. Major consumers include construction, transportation, and electrical and electronics sectors. The North America Flame Retardant Thermoplastics Market size is expected to reach USD 116 million by 2025, according to a new study by Grand View Research, Inc. The market is estimated to expand at a CAGR of 3.3% during the forecast period. Demand for plastic components across various industries, such as automobiles, marine, and aerospace, to reduce the overall size and weight of the vehicle, demands more flame retardant thermoplastic compounds. Electrical and electronics led the North America flame retardant thermoplastics market in 2017 and is anticipated to maintain its dominance over the forecast period. Flame retardant materials are widely used in this industry and its degree is dependent on product function