Flame Retardant Thermoplastic Market Trends

  • Report ID: 3181
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Flame Retardant Thermoplastic Market Trends

Growth Drivers

  • Growing Demand for Flame Retardant Thermoplastics in Various End Use Industries
  • Increasing Research and Development in Flame Retardant Thermoplastics

Challenges

  • Stringent Government Norms to Manufacture the Product

Flame Retardant Thermoplastic Market: Key Insights

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

5.5%

Base Year Market Size (2024)

USD 9.14 billion

Forecast Year Market Size (2037)

USD 18.33 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 3181
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of flame retardant thermoplastic is assessed at USD 9.57 billion.

Flame Retardant Thermoplastic Market size was valued at USD 9.14 billion in 2024 and is expected to reach USD 18.33 billion by 2037, registering around 5.5% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is set to dominate majority revenue share by 2037, owing to rising industrialization as well as urbanization in the region.

The major players in the market are BASF SE, Toray Industries, Inc., Clariant, J.M. Huber Corporation, PMC Polymer Products, Inc., Teknor Apex, Avient Corporation, Washington Penn, Albermarle Corporation, Polyvisions Inc., and others.
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