Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Thermoset Composites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Thermoset Composites Market to Reach $93.3 Billion by 2030
The global market for Thermoset Composites estimated at US$59.5 Billion in the year 2023, is projected to reach a revised size of US$93.3 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2023-2030. 
Thermoset composites represent a thriving market with significant growth potential, as indicated by the global key competitors' percentage market share and their competitive market presence in 2023. The market outlook highlights dynamic drivers and restraints shaping its trajectory, with resin type analysis showing epoxy, polyester, and other resin types contributing to sales.
Epoxy Composites, one of the segments analyzed in the report, is projected to record 6.4% CAGR and reach US$41 Billion by the end of the analysis period. Growth in the Polyester Composites segment is estimated at 5.5% CAGR for the next 8-year period. Further segmentation by fiber type reveals the dominance of glass fibers, while applications span across transportation, wind energy, construction, aerospace, marine, sporting goods, and other sectors.
Understanding thermoset composites entails insights into fiber-reinforced composites, fabrication methods like contact molding, and innovative approaches such as utilizing flax oil. Recent market activity underscores the industry's dynamism and ongoing developments, driving stakeholders to adapt to evolving market trends and opportunities.
The U.S. Market is Estimated at $10.8 Billion, While China is Forecast to Grow at 6.9% CAGR
Regionally, Asia-Pacific emerges as a focal point, with China leading in sales growth, followed by Latin America, the Middle East, Africa, and other regions.
The Thermoset Composites market in the U.S. is estimated at US$10.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$18.9 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 560 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $59.5 Billion |
| Forecasted Market Value (USD) by 2030 | $93.3 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Thermoset Composites - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Thermoset Composites Market Brims with Immense Growth Potential : Prospects & Outlook
- Global Thermoset Composites Market: Dynamic Drivers & Restraints
- Analysis by Resin Type
- World Thermoset Composites Market by Resin Type (2023 & 2030): Percentage Breakdown of Value Sales for Epoxy, Polyester, and Other Resin Types
- Analysis by Fiber Type
- World Thermoset Composites Market by Fiber Type (2023 & 2030): Percentage Breakdown of Value Sales for Glass, and Other Fiber Types
- Analysis by Application
- World Thermoset Composites Market by Application (2023 & 2030): Percentage Breakdown of Value Sales for Transportation / Automotive, Wind Energy, Construction, Aerospace & Defense, Marine, Sporting Goods, and Other Applications
- Regional Analysis: Asia-Pacific Enjoys Spotlight with Major Stake in Global Thermoset Composites Market
- World Thermoset Composites Market by Region (2023 & 2030): Percentage Breakdown of Sales for Developed and Developing Regions
- World Thermoset Composites Market - Geographic Regions Ranked by CAGR (Sales) for 2022-2030: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- An Introduction to Thermoset Composites
- Fiber-Reinforced Composites
- Contact Molding: A Method for Fabrication of Fiber-Reinforced Thermoset Composites
- Thermoset Composites from Flax Oil
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Composite Materials Set to Gain Widespread Application
- Game-Changing Trends for Thermoplastic Composites Market
- Fresh Efforts to Resolve Recyclability Gap for Thermoset Composites at End of Life
- Safeguarding Thermoset Composites against Air Bubble-Caused Pinhole Defects
- Long-Fiber Thermoset Composites: A Growing Market
- Rising Applications of Thermoset Composite Materials in Aerospace and Automobile Sectors Minimize Carbon Emission Levels
- Composites Witness Growing Use in Automobiles
- Thermoset Composites Market Shifts to Higher Gear with Thriving Automotive Industry
- How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
- The Bane and Boon of Covid-19 on Composites Market
- Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Auto Industry's Shift towards Fuel Efficient Vehicles Fuels Demand for Lightweight Composites, Benefiting Market Growth
- Auto Industry's Focus on Lightweight Construction Drives Measures to Achieve CO2 Targets: OEM Fleet Target Development in the EU (in g CO2/km) for the Years 2016, 2021 and 2030
- Performance Characteristics of Common Lightweight Materials
- Automakers, Suppliers Eye EV Opportunities
- World Electric Vehicles (EVs) Annual Sales in Thousand Units for Years 2020, 2022, 2024, and 2026
- KTM Technologies Develops New Multi-material, Adhesive-free Joining Technology
- Wind Energy: One of the Largest Application Markets for Thermoset Composites
- Global Energy Generation Mix (in %) for 2018 and 2050
- Use of Thermoset Composites in Wind Energy Segment Gains Momentum
- Circular Pathway for Wind Turbine Value Chain with Recycled Thermoset Composites
- Construction Market to Drive Long Term Growth
- Thermoset and Fiber-Reinforced Composites Gains Traction Among Commercial and Residential Construction Companies
- Recovery in Global Construction Sector to Post Gains in Long Term
- Global Construction Spending (in US$ Trillion) for the Years 2020-2028
- Rising Investments in Infrastructure Projects Strengthens Market Prospects
- Global Infrastructure Spending (in US$ Trillion) by Region/Country Over the Period 2010-2030
- Global Infrastructure Spending Estimates (in US$ Trillion) by Sector Over the Period 2013-2030
- Progressive Expansion in Use Case Results in Composites Evolving as Mainstream Aerospace Material
- Composites Make Up for About Half of Total Weight of Modern Aircraft: Percentage Breakdown of Structural Weight Composition by Material for Airbus 350XWB and Boeing 787
- Evolution of Composite Materials as % of Aircraft Mass for Select Fighter Aircrafts
- Polymer Composites in Vogue
- Future of Aerospace Industry
- Staged Recovery over Long-Term
- Global Commercial Airline Revenues (in US$ Billion) for the Years 2010, 2015, 2020, and 2025
- Aging Fleet Presents Opportunities for Commercial Aircraft PMA
- Average Age (in Years) of Globally Operating Aircraft Fleet for 2020 & 2030
- Average Age (in Years) of Select Airlines Around the World
- Marine Industry Offers Pockets of Opportunities to Thermoset Composites, as Marine Vessel Construction Moves towards Advanced Composites
- Use of Thermoset Composites for Manufacturing Marine Components Gain Momentum
- Need for Durable Recreational and Sports Goods & Equipment Augurs Well for Thermoset Composites Market
- Global Sports Equipment Market Size (in US$ Billion) for 2019, 2022 and 2025
- Application of Thermoset Composites for Manufacturing Electrical and Other Appliances Exhibit a Robust Surge
- Overcoming Host of Challenges Linked to Processing of Thermosetting Materials
FOCUS ON SELECT PLAYERS(Total 71 Featured)
- Accurate Plastics Inc.
- Advanced Composite Structures Australia Pty Ltd
- AGY Holding Corp.
- Arkema S.A.
- Avient Corporation
- China Jushi Co., Ltd.
- Hexcel Corporation
- Hexion Inc.
- Huntsman International LLC.
- JEC Group
- Johns Manville Corporation
- KINECO - KAMAN
- Lingol Corporation
- Mar-Bal, Inc.
- Mitsubishi Chemical Corporation
- Owens Corning
- Plasan Carbon Composites
- PPG Industries, Inc.
- Reliance Industries Limited.
- SGL Carbon SE
- Solvay S.A.
- Teijin Limited
- Toray Advanced Composites
For more information about this report visit https://www.researchandmarkets.com/r/kxcgt0
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