Thermoset Resin Composites Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

  • Single User License $3500

Thermoset Resin Composites Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : May, 2021 | Chemical & Materials

Report Digest

Use of thermoset resin composites have been gaining immense traction owing to multiple benefits, including high rigidity & hardness, optimal thermal stability, and exceptional creep resistance. Good recyclability is a key aspect that fosters popularity of thermoset resin composites among multiple end-use industries.

With the exponentially-growing composites industry, in terms of technological developments, developments, and production, the demand for thermoset resin composites is also increasing at a significant pace. They are extensively used across industries such as pipe & tank, electrical & electronics, and construction. Thermoset resin composites are reinforced with inorganic or inorganic fibers, depending on type and nature of the target application.

Thermoset Resin Composites Market- Notable Highlights

  • In 2018, BASF SE signed an exclusive agreement with Gustav Grolman GmbH, a leading European distributor of specialty chemicals, including accelerators, flame retardants, pigments, resins, fillers, and additives for the thermoset industry. As per the agreement, Grolman will become a chief distributor of BASF specialty chemicals space across areas of Portugal, Spain, and Italy.
  • In 2018, Ashland made an announcement of launch of ‘Derakane Signia’ resin for composites. This new formula possesses an undeniable detection system for testing the integrity of designs and offer optimal corrosion resistance as well as mechanical properties with enhanced processing.

Some of the most prominent competitors operating in the competitive landscape of global thermoset resin composites market include –

  • BASF
  • Huntsman International
  • Ashland Inc.
  • The Dow Chemical Company
  • Olin Corporation
  • AtriCure
  • Biotronik
  • Abiomed
  • Biosensors International
  • BioVentrix
  • C. R. Bard
  • Abbott Vascular

Thermoset Resin Composites Market- Dynamics

Surging Demand for Lightweight Vehicles Creates Sustained Opportunities

The demand for lightweight vehicles is underway, as motorists are heading toward lightweight variants with enhanced performance and fuel efficiency. The rising trend of lightweight vehicles is creating significant demand for composites, which in turn is triggering adoption of thermoset resin composites. Moreover, vehicle electrification is also likely to bolster demand for thermoset resin composites, as manufacturing lighter electric cars entails reduction of weight of the batteries as well as electric motors used.

Polyester Remains the Highly-Preferred Thermoset Resin Composite Type

Demand for polyester thermoset resin composites are likely to be high, owing to wide-spread use across multiple applications. Unsaturated polyesters are being used in multiple applications, including wind energy, electrical & electronics pipes, and tanks. Moreover, versatility offered by polyester thermoset resin composites is one among the key pacesetters fostering adoption across multiple applications. In addition, polyester thermoset resin composites are highly economical and offer high water resistance, which makes an ideal investment across multiple end-use applications.

Pipe & Tank Evolves as a Significant End-User, Superior Corrosion Resistance Enhances Product Visibility

The pipe and tank industry is likely to emerge as a key end user for manufacturers of thermoset resin composites to reap sizeable revenues during the forecast period. Thermoset resin composites play a vital role in seamless manufacturing of large as well as small diameter pipes and tanks, on account of their excellent resistance to different types of corrosion, including aerobic and galvanic corrosion. However, tough competition from advanced materials having similar competencies is likely to arrest the adoption of thermoset resin composites, creating significant challenges for the manufacturing from profit-making standpoint.

Thermoset Resin Composites Market Segmentation

By End Use

  • Pipe and Tank
  • Construction
  • Wind Energy
  • Transportation
  • Consumer Goods
  • Electrical/Electronics
  • Marine
  • Aerospace/Defense Others

By Process

  • Hand Lay-Up/Spray Up
  • Filament Winding
  • Injection Molding
  • Compression Molding
  • Prepreg Lay-Up
  • Resin Infusion
  • Pultrusion
  • Others

By Resin

  • Polyester
  • Epoxy
  • Vinyl Ester
  • Phenolic
  • Polyurethane
  • Others

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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.

Pain Points

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?