Detroit, July 05, 2018 (GLOBE NEWSWIRE) -- Stratview Research announces the launch of a new market research report on Recyclable Thermoset Market by Technology Type (Mechanical Recycling, Feedstock Recycling, and Energy Recovery), by Thermoset Type (Unsaturated Polyester Resins, Epoxy Resins, Phenolic Resins, Polyurethane Resins, and Others), by End-Use Industry Type (Building & Construction, Transportation, Wind Energy, Electricals & Electronics, Aerospace & Defense, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Global Recyclable Thermoset Market: Highlights
As per Stratview Research, the global recyclable thermoset market is projected to grow at an impressive CAGR of 6.3% during the forecast period of 2018-2023. Organic growth of the composites industry, increasing preference of thermoset over thermoplastics, high focus on green and sustainable materials, and introduction of strict government regulations regarding the ban of landfill disposal are some of the major factors that are proliferating the growth of recyclable thermoset market.
Research findings suggest that, UPR (Unsaturated Polyester Resin) is likely to remain the most dominant segment of the market during the forecast period, driven by high usage in various cost-sensitive industries including transportation and building & construction. However, epoxy resin is likely to be the fastest-growing segment of the market during the same period, propelled by increasing usage in transportation, aerospace & defense, and electrical & electronic industries.
Based on the technology type, mechanical recycling currently dominates the market, driven by high usage in Asia-Pacific, the largest thermoset composites market. However, feedstock recycling is likely to be the fastest-growing segment of the market, driven by its numerous advantages including higher-quality materials.
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Building & construction and transportation are the largest consumers of thermoset composites worldwide, driven by increasing demand for lightweight, durable, corrosion-resistant, and highly aesthetic parts. Whereas, transportation and aerospace & defense industries are likely to be the fastest-growing market over the next five years.
Connora Technologies, Adesso Advanced Materials Inc., Mallinda, LLC, and INTCO Recycling are the major players active in the market.
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Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences and Oil & Gas.