Thermoset Molding Compound Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Thermoset Molding Compound Market: Snapshot
In the current past, thermosets have turned out to be superb trade for metallic or metallic components as they provide highly valuable properties, for instance, mechanical quality, high temperature resistance, compound resistance, electrical protection, and different other advantages. Swift urbanization is having a positive impact on many industries wherein lightweight and solidness of the items are fundamental needs in terms of product. Therefore, the demand in the worldwide thermoset molding compound market is anticipated to grow at an exponential rate in the years ahead.
The expanding requirement for security and safety in aerospace and transportation industries is an essential driver of the global thermoset molding compound market, as thermosets offer quality and sturdiness other than being lightweight. The requirement for financially suitable material to supplant heavy metals, expanding requirement for thermally steady and resistance to corrosion, and easy production of complex are some of the various dynamics pushing the growth of the worldwide thermoset molding compound market. On the other hand, fluctuating prices of crude oil and stringent administrative strategies relating to thermoset resin are anticipated to inhibit the development rate in the upcoming years.
Some of the key end users of thermoset molding are aerospace, electrical and electronics, and most of all automotive. The automotive industry is the probable leading end user owing to the use of thermoset molding in the manufacturing of interior and exterior automotive components.
Global Thermoset Molding Compound Market: Overview
In the recent past, thermosets have become excellent replacement for thermoplastic or metallic components as they offer highly useful properties such as mechanical strength, high temperature resistance, chemical resistance, electrical insulation, and other benefits. Rapid urbanization is reflecting positively on several industries wherein lightweight and durability of the products are essential. As a result, the demand in the global thermoset molding compound market is projected to expand at a robust rate during the forecast period of 2017 to 2025.
This report on global market for thermoset molding compound is an all-inclusive overview of the current condition and based a thorough analysis of all the factors that my influence the demand in the near future, it estimates the state of the market until 2025. This report has been prepared to act as an information guide for targeted audiences such as thermoset molding compound manufacturers, distributors and suppliers, raw material suppliers, end-use industries, and investment research firms. The hallmark of the report is its section on company profiles, wherein a number of prominent players currently active in this market have been overviewed for their market share, operating business segments, business performance, and key strategic moves and recent developments.
The global thermoset molding compound market can be segmented on the basis of resin type into phenolic, epoxy, polyester, and other resins, while on the basis of application, the market can be categorized into aerospace, electrical, automotive, and others. Geographically, the report studies the potential of the market in the regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Global Thermoset Molding Compound Market: Trends and Opportunities
The increasing need for safety in transportation and aerospace industry is the primary driver of this market, as thermosets offer strength and durability besides being lightweight. The need for economically viable material to replace heavy metals, increasing need for thermally stable and resistance against corrosion, and ease in production of complex shapes are some of the other factors augmenting the demand the global thermoset molding compound market. Conversely, volatility of crude oil prices and stringent regulatory policies pertaining to thermoset resin are expected to hinder the growth rate during the forecast period.
Among all the resin type segments, polyester resin has maximum demand, owing to its property of remarkable flexibility and increasing application in automotive body panel. Polyester resin thermoset molding offers excellent resistance to a wide range of chemicals at room temperature such as gasoline, aliphatic hydrocarbons, alcohols, and glycols. Among the end-use application, the electrical and electronics segment continues to be most lucrative as thermoset molding compound are used for various types of electronic packages such as transistors, capacitors, memory devices, and central processing units (CPUs).
Global Thermoset Molding Compound Market: Regional Outlook
Countries such as China and India have become manufacturing hubs for several end-use industries in the recent past. This factor makes this Asia Pacific the most important regional market for thermoset molding compound. The growing economy, low cost labor, and escalating demand for low-maintenance products are some of the factors augmenting the demand from Asia Pacific region.
Companies mentioned in the research report
The report identifies Eastman Chemical Company, Ashland Global Holding Inc., BASF SE, Hexion Inc., Huntsman Corporation, Evonik Industries AG, Kolon Industries Inc., Plastics Engineering Company (Plenco), Kyocera Chemical Corporation, and Rogers Corporation as the key players in global thermoset molding compound market. Product development, collaboration and partnerships, and regional expansion are the key strategies adopted by these players to maintain their stronghold over the market. Some of the other notable players are Hitachi Chemical Company Ltd., Chang Chun Plastics Co. Ltd., Cosmic Plastics Inc., Saudi Basic Industries Corporation (SABIC), and Jiangsu Tianxin Chemical Co., Ltd.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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