According to a new market report published by Lucintel, the future of the thermoset resin in the global composites market is attractive with opportunities in various end use industries, including marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, and consumers goods. The thermoset resin in the global composites market is expected to reach an estimated $23.9 billion by 2027 with a CAGR of 5.1% from 2021 to 2027. The major drivers for growth in this market are due to the increasing demand for lightweight materials, and performance benefits of reinforced composites over rival materials.
In this market, polyester, thermoset, epoxy, phenolic, polyurethane, and others are the major resin type used in different end use industries. Lucintel forecast that polyester resin will remain the largest segment by value and volume over the forecast period because it offers performance benefits for different applications. Epoxy resin is expected to witness the highest growth over the forecast period
Within the thermoset resin in the global composites market, construction is expected to remain the largest segment by both value and volume. Expected growth in the infrastructure development, rehabilitation of old infrastructures, and capital investment in industrial development are the major driving forces that spur growth for these segments over the forecast period.
APAC is expected to remain the largest region by value and volume over the forecast period and is also expected to witness the highest growth over the forecast period due to growth in end use industries and increasing demand for lightweight materials.
Emerging trend, which have a direct impact on the dynamics of the industry, include use of hybrid thermoset resin in many applications. BASF, Covestro, Huntsman, Ashland, and AOC are among the major suppliers of the thermoset resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the thermoset resin in the global composites market by end use, process, resin, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Thermoset Resin in the Global Composites Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the thermoset resin in the global composites market by end use, process, resin, and region as follows:
By End Use [Value ($B) and Volume (M lbs.)shipment analysis for 2016 – 2027]:
Marine
Pipe and Tank
Construction
Transportation
Wind Energy
Aerospace and Defense
Electrical and Electronics
Consumer Goods
Others
By Process [Volume (M lbs.) shipment analysis for 2016 – 2027]:
Hand lay up/ Spray Up
Resin Infusion
Filament Winding
Pultrusion
Injection Molding
Compression Molding
Prepreg Lay-Up
Other
By Resin Form [Value ($B) Volume (M lbs.) shipment analysis for 2016 – 2027]:
Polyester
Vinyl Ester
Epoxy
Phenolic
Polyurethane
Others
By Region [Value ($B) shipment analysis for 2016 – 2027]:
North America
Europe
Asia Pacific
The Rest of the World
This 224-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link www.lucintel.com/thermoset-resin-in-the-global-composites-market.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the thermoset resin in the global composites market by end use (marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, consumers goods, and others), manufacturing process (hand lay-up/ spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay-up, and others), resin type (polyester, thermoset, epoxy, phenolic, polyurethane, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?