Market Analysis: Global Thermoset Composites Market
Global Thermoset Composites Market is expected to rise from its initial estimated value of USD 47.85 billion to an estimated value of USD 80.81 billion by 2026, registering a CAGR of 6.77% in the forecast period of 2019-2026. Increasing demand of light weight material from various end- user industries is driving the market.
Market Definition: Global Thermoset Composites Market
Thermoset composites are those polymers which once converted into solid form cannot be converted back to its original form. They usually have high strength. Due to their high performance and light weight they are widely used in aerospace & defense, wind energy, transport, sporting goods, marine, construction & infrastructure, pipe & tank and electrical & electronic.
- Increasing demand of lightweight materials is driving the growth of this market.
- Growing wind energy sector is increasing the demand for thermoset composites; which is a factor driving the market
- Problems related to recyclability and reusability of the product is restraining the growth of this market.
- High cost for Research and Development is restraining the market.
Segmentation: Global Thermoset Composites Market
- By Fiber Type
- Glass Fiber Thermoset Composite
- Carbon Fiber Thermoset Composite
- Other Fiber Composites
- Resin Type
- Polyester Resin
- Vinyl Ester Resin
- Epoxy Resin
- Phenolic Resin
- Polyurethane Resin
- Other Thermoset Resins
- Manufacturing Process
- Lay-Up Process
- Tape Lay-Up
- Hand Lay-Up
- Spray Lay-Up
- Filament Winding Process
- Infusion Process, Compression
- Molding Process
- Injection Molding Process
- Pultrusion Process
- Other Processes
- Lay-Up Process
- By End- Use
- Aerospace & Defense
- Wind Energy
- Sporting Goods
- Construction & Infrastructure
- Pipe & Tank
- Electrical & Electronics
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In February 2018, IDI Composites International announced the launch of their two new thermoset composites Ultrium and Fortium STC. They can improve the durability and flexibility of many products and is very useful for designer and engineers. These two new materials have high stiffness and strength. The main aim is to give molders and OEMs a material that requires high strength but is cost- effective.
- In October 2018, Bitrez announced the launch of their Curabox which is a flame retardant benzoxazine thermoset resins. They have excellent mechanical and electrical properties and have high service temperature which makes it very suitable for manufacturer. They can be widely used in primary and secondary structures for aerospace and in structural part of trains, buses, trucks and cars.
Global thermoset composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of thermoset composites market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the thermoset composites market are Owens Corning, TORAY INDUSTRIES, INC., JEC Group, TEIJIN LIMITED, SGL Carbon, PPG Industries, Inc., Huntsman International LLC., Mitsubishi Chemical Holdings Corporation, Solvay, TAEKWANG Industrial Co., ltd, Carbon Mods, Hexion, Johns Manville., AGY, Quantum Composites, Plasan Carbon Composites, Gaffco Ballistics Inc, Henkel AG & Co. KGaA, KINECO – KAMAN, Advanced Composites Inc.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved