Dublin, Aug. 25, 2022 (GLOBE NEWSWIRE) -- The "Thermoset Molding Compound Market By Type, By End User: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global thermoset molding compound market was valued at $9.8 billion in 2020, and is projected to reach $18.0 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
Thermosetting compounds provide thermosetting plastic parts with heat resistance, dimensional stability, high bending strength, electrical insulation, and functionality, making them ideal for a variety of applications. The molecules are linked via a cross-linking process through irreversible chemical reactions under heat and pressure.
They are generally stronger than thermoplastics due to polymer cross-linking and are suitable for high-temperature applications. Each type of thermosetting plastic has unique properties and is used in a variety of applications such as electrical and electronic equipment, automobile bodies, and aerospace equipment.
The global thermosetting compound market is driven primarily by the rapid growth of urbanization and increase in demand from the electronics and automotive industries. Increase in demand for high metal weight and safety in the transport and aviation universe and the need for thermal stable and corrosion-resistant composites propagate the market growth.
The increase in investment in emerging economic countries related to transport infrastructure brought an increase in demand for automotive and airborne transport-related products. Rise in demand for these products actively influences the demand for thermosetting growth. In particular, rapid change in the human living environment after the introduction of portable electronic gadgets, such as smartphones and laptops create a large demand for electrical equipment, which drives the growth of the thermoset molding market.
Fluctuations in crude oil prices and regulatory challenges related to hazardous waste, need for high investment by investors to manufacture products, and presence of fierce competition among a large number of global giants are among the markets. It is expected to hinder growth.
The thermoset molding compound market is segmented on the basis of type, end-user, and region.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current thermoset molding compound market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
- An in-depth analysis of thermoset molding compound market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global thermoset molding compound market.
Key Market Segments
By End User
- Automotive
- Aerospace
- Electrical and Electronics
- Others
By Type
- Phenolic Resin
- Epoxy Resin
- Polyester Resin
- Urea Formaldehyde
- Melamine Formaldehyde
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- South Africa
- Rest of LAMEA
Key Findings of Study
- By region, Asia-Pacific accounted for the largest market share in 2020.
- By type, the phenolic resin segment held the largest market share in 2020.
- By end-user, the automotive segment held the largest market share in 2020.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: THERMOSET MOLDING COMPOUND MARKET, BY TYPE
CHAPTER 5: THERMOSET MOLDING COMPOUND MARKET, BY END USER
CHAPTER 6: THERMOSET MOLDING COMPOUND MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Companies Mentioned
- Ashland Global Holding Inc.
- BASF
- Eastman Chemical Company
- Evonik Industries AG
- Hexion Inc.
- Huntsman Corporation
- Kolon Industries Inc.
- Kyocera Chemical Corporation
- Plastics Engineering Company
- Rogers Corporation
For more information about this report visit https://www.researchandmarkets.com/r/8bgx88
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