openPR Logo
Press release

Recyclable Thermoset Market to Witness 6.3 % CAGR over the Next Five Years

01-28-2019 07:05 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Recyclable Thermoset Market to Witness 6.3 % CAGR over the Next

Stratview Research has launched a research report on. The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Recyclable Thermoset Market from 2018 to 2023.

This is segmented in five ways to provide a 360 degree holistic view. The segments are –
• By Technology Type (Mechanical Process, Energy Recovery Process, and Feedstock Process ),
• By Thermoset Type (Unsaturated Polyester Resin, Epoxy Resin, Phenolic Resin, Polyurethane Resin,and Others),
• By End-Use Industry Type (Building & Construction, Transportation, Aerospace & Defense, Wind Energy, Electricals & Electronics, and Others),and
• by Region
o North America (Country Analysis: The USA, Canada, and Mexico)
o Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
o Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
o Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

Stratview Research, has presented the study of Recyclable Thermoset Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Strategic collaboration with institutes and industry stakeholders; execution of mergers & acquisitions, and formation of the long-term contracts are some of the major strategies adopted by the companies to remain competitive in the market. They have a high focus on R&D in order to develop commercially viable and economical technologies to address the existing challenges

Go through the detailed scope: https://www.stratviewresearch.com/toc/327/Recyclable-Thermoset-Market.html
Or
Get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/327/Recyclable-Thermoset-Market.html

Thermoset is the most widely accepted matrix system
The recyclable thermoset market is likely to grow at a healthy CAGR of 6.3% over the next five years, propelled by a host of factors including organic growth of the composites industry, an increasing preference of thermoset over thermoplastics, high focus on the green and sustainable materials, and the introduction of strict government regulations regarding the ban of landfill disposal.

Thermoset is the most widely accepted matrix system for fabricating composite parts. The matrix system has efficaciously been gaining penetration in most of the end-use industries, owing to its excellent strength and interlaminar properties. Unsaturated polyester, epoxy, and phenolic are the most commonly used matrices globally. Other major thermosets are polyurethane, vinyl esters, BMI, cyanate esters, and silicones. However, one of the biggest constraints of thermoset resin is its non-recyclability, owing to a large number of cross-link in its structure. The generation of waste from thermoset composites is mainly derived from the end-of-life of composite parts as well as from the scrap accumulated during the fabrication of composite parts.

Stringent regulations regarding the fuel efficiency enhancements and the carbon emission reductions, such as CAFÉ Standards, are creating an enormous pressure on automakers to make their vehicles fuel efficient. Automakers are unraveling this challenge by incorporating lightweight composite materials in the structural and semi-structural sections of their new vehicle models. A similar trend has been observed in the aerospace & defense industry where major airframers are introducing the next-generation aircraft with composites content up to 50% of the structural weight of the aircraft with the purpose to improve the fuel efficiency and to reduce the carbon emissions.

Such factors are incessantly engendering a greater demand for composite materials, especially of thermoset composites, in order to address different requirements of various industries. All the major stakeholders of various industries are increasingly betting on these materials in order to meet their existing as well as upcoming requirements, but the non-recyclability of thermosets is limiting their potential up to some extent.

The impact of non-recyclability of thermoplastic composites became even severe due to the ban on waste import in the major markets, especially China and introduction of strict landfill reduction laws in Europe. For instance; End-of-Life Vehicles generates between 7 to 8 million tonnes of waste in the European Union, which need to be managed properly in order to protect the environment. The European Union issued End-of-Life Vehicle Directive in 2000 with a complete implementation in 2003, which states a minimum 95% reuse or recovery of vehicle’s weight manufactured after January 2015.
Similarly, China was the dumping ground of the global trash and accumulated more than half of total global trash every year. The country used to import approximately 9 million metric tons of plastic scraps every year. However, the recent ban on the import of 24 waste items in China is scrambling the global leaders including the USA, Japan, and Europe, who used to export most of their waste to the country.

As of now, major composite thermoset players are paying for landfill disposable but the introductions on strict landfill regulations and high focus on saving the environment by opting green materials are leading the thermoset recycling necessary. Mechanical recycling and incineration (energy recovery) are currently the most used recycling technologies of thermoset materials but these technologies have certain disadvantages including the non-economic viability. To maintain the inevitable growth momentum of composite thermosets, it is important for the composite industry stakeholders to make rigorous efforts towards the development of efficient recycling technologies for thermoset composites that can be commercially viable and economical in nature.

Mechanical recycling currently dominates the market
Based on the technology type, the recyclable thermoset market is segmented into Mechanical Recycling, Feedstock Technology, and Energy Recovery. Mechanical recycling currently dominates the market, driven by a high usage in the Asia-Pacific, the largest thermoset composites market. Mechanical recycling is a manual process in which thermoset-made parts are pierced into fine particles, which are used as a filler or as a reinforcement. The recycling process is highly labor intensive and is highly preferred in China and India, owing to the availability of low-cost labor coupled with relatively less stringent landfill regulations. The process produces relatively low-quality fillers, which cannot be used in high-performance applications and also, this is a bit more expensive than the fillers, such as clay.

Energy recovery is another process and accounts for a considerable share of the total recyclable thermoset market; however, the process has incessantly been losing its share, owing to the generation of heat during combusting thermosets as well as the generation of harmful gases.

Feedstock recycling is likely to be the fastest-growing segment of the market, driven by its numerous advantages including higher-quality materials. The continuous efforts for the development of efficient feedstock recycling would propel the segment’s growth in the coming years.

UPR is likely to remain the most dominant segment
Based on the thermoset type, the market is segmented into Unsaturated Polyester Resin (UPR), Epoxy Resin, Phenolic Resin, Polyurethane Resin, and Other Resins. UPR is likely to remain the most dominant segment of the market during the forecast period, driven by a high usage in various cost-sensitive industries including transportation and building & construction. UPR is the most widely used resin systems that offer excellent performance at a relatively low cost.

Epoxy resin is likely to be the fastest-growing segment of the market during the same period, propelled by an increasing usage in the transportation, Aerospace & Defense, and electricals & Electronics industries. Epoxy resin offers better mechanical and interlaminar properties but at a relatively high cost as compared to UPR.

Building & Construction and transportation are the largest consumers
Based on the end-use industry type, the market is segmented into Building & Construction, Transportation, Wind Energy, Electricals & Electronics, Aerospace & Defense, and Others. Building & Construction and transportation are the largest consumers of thermoset composites worldwide, driven by an increasing demand for lightweight, durable, corrosion-resistant, and highly aesthetic parts.

The transportation and aerospace & defense industries are likely to be the fastest-growing market over the next five years. Both end-use industries are increasingly increasing the penetration of composite parts into the structural and semi-structural applications in order to meet their current market requirements. Composite recycling becomes a necessity as both industries are highly relying upon thermoset composites.

Boeing and Airbus together generate almost 1 million lbs. of cured and uncured carbon fiber prepreg waste every year from the production of the B787 and A350XWB aircraft programs. Considering the waste of entire supply chain, the waste escalated to 4 million lbs. per years. It becomes inevitable for the industry leaders to better handle the thermoset waste to produce parts.

Asia-Pacific is likely to remain the largest recyclable thermoset
Based on the regions, Asia-Pacific is likely to remain the largest recyclable thermoset market over the next five years, driven by a higher usage of mechanical recycling technology, which is further propelled by a low-cost labor and relatively less stringent regulations regarding the usage of waste. Also, Asia-Pacific is the largest producer as well as the procurer of composite materials, driven by the presence of assembly/manufacturing plants of highly cost-sensitive industries including electricals & electronics, wind energy, transportation, and building & construction.

Europe, another major market for recyclable thermoset, is likely to witness the highest growth over the next five years, driven by the stringent government laws regarding the ban of landfill and usage of waste, such as European Union’s end-of-life-vehicle (ELV) directive. Aerospace & Defense and transportation segments are likely to drive the demand for recycling of thermosets in the region in the coming years.

Recyclable Thermoset Market: Key Players and Strategies
A recent study suggests that merely 2% of composite industry players are active recyclers. However, the numbers of players have sharply been raising, owing to the industry’s focus on recycling thermosets. Connora Technologies, Adesso Advanced Materials Inc., Mallinda, LLC, and INTCO Recycling the major players active in the market.

Most of the major players are successful in getting investment from the various industry stakeholders in order to commercially develop their technologies. At the same time, major players are focusing on the development of those technologies that are economical and gives a better result than the landfill or incineration.

Strategic collaboration with institutes and industry stakeholders; execution of mergers & acquisitions, and formation of the long-term contracts are some of the major strategies adopted by the companies to remain competitive in the market. They have a high focus on R&D in order to develop commercially viable and economical technologies to address the existing challenges.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Market structure: Overview, industry life cycle analysis, supply chain analysis
● Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend and forecast analysis
● Market segment trend and forecast
● Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
● Attractive market segments and associated growth opportunities
● Emerging trends
● Strategic growth opportunities for the existing and new players
● Key success factors.
● Research Methodology

This report studies the Recyclable Thermoset Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
o Extensive secondary research,
o Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
o Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
o More than 700 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Click Here for Other Reports from Stratview Research in the Chemicals & Materials Industry: https://www.stratviewresearch.com/market/report/Advanced-Materials.html

Stratview Research is a global market intelligence firm offering a wivde range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

We have a strong experienced team of industry veterans and research analysts with a perfect blend of wisdom, knowledge and attitude. We have been serving multiple clients across a wide array of industries.

400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Recyclable Thermoset Market to Witness 6.3 % CAGR over the Next Five Years here

News-ID: 1536219 • Views:

More Releases from Stratview Research

Semiconductor Vacuum Valve Market Set to Reach US$ 1.0 Billion by 2031, Reports Stratview Research
Semiconductor Vacuum Valve Market Set to Reach US$ 1.0 Billion by 2031, Reports …
Stratview Research, a leading global market research firm, forecasts that the global Semiconductor Vacuum Valve market will grow at an annual rate of 6.7%, reaching US$ 1.0 billion by 2031. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers. Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/3932/semiconductor-vacuum-valve-market.html#form Key Report Highlights: • Market Size by 2031: US$ 1.0 billion • Growth Rate
Small Satellites Market Set to Reach US$ 7.7 Billion by 2030, Reports Stratview Research
Small Satellites Market Set to Reach US$ 7.7 Billion by 2030, Reports Stratview …
Stratview Research, a leading global market research firm, forecasts that the global Small Satellites market will grow at an annual rate of 2.2%, reaching US$ 7.7 billion by 2030. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers. Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/1920/small-satellites-market.html#form Key Report Highlights: • Market Size by 2030: US$ 7.7 billion • Growth Rate (CAGR):
Hard Body Armor Market Set to Reach US$ 2,271.2 Million by 2031, Reports Stratview Research
Hard Body Armor Market Set to Reach US$ 2,271.2 Million by 2031, Reports Stratvi …
Stratview Research, a leading global market research firm, forecasts that the global Hard Body Armor market will grow at an annual rate of 3.2%, reaching US$ 2,271.2 million on by 2031. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers. Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/3253/hard-body-armor-market.html#form Key Report Highlights: • Market Size by 2031: US$ 2,271.2 million • Growth
3D Printing Powder Market Set to Reach US$ 5.8 Billion by 2028, Reports Stratview Research
3D Printing Powder Market Set to Reach US$ 5.8 Billion by 2028, Reports Stratvie …
Stratview Research, a leading global market research firm, forecasts that the global 3D Printing Powder market will grow at an annual rate of 27.1%, reaching US$ 5.8 billion by 2028. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers. Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/853/3d-printing-powder-market.html#form Key Report Highlights: • Market Size by 2028: US$ 5.8 billion • Growth Rate

All 5 Releases


More Releases for Thermoset

Thermoset Composites Market Size and Forecast
Thermoset Composites Market Outlook and Investment Analysis Thermoset Composites Market size was valued at USD 24.5 Billion in 2022 and is projected to reach USD 38.0 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030. What is the current outlook of the Thermoset Composites Market, and what are the key drivers of growth? The Thermoset Composites Market has been experiencing steady growth, primarily driven by increasing demand in aerospace,
Recyclable Thermoset Market Dynamics: Sustainability and Market Potential
Global Recyclable Thermoset Market is estimated to reach over USD 536.48 million by 2031, exhibiting a CAGR of 4.75% during the forecast period. Request for Sample Pages: https://www.insightaceanalytic.com/request-sample/1586 The curing process, which can be triggered by heating or by adding a curing agent, causes thermosets, a particular family of polymers, to create clearly defined, permanent chemical networks that appear to grow in three dimensions. Due to the creation of crosslinks between
Thermoset Powder Coating Market Opportunity | Size | Research Report
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- The global Thermoset Powder Coating Market is expected to record a CAGR of XX.X% from 2024 to 2031 In 2024, the market size is projected to reach a valuation of USD XX.X Billion. By 2031 the valuation is anticipated to reach USD XX.X Billion. Thermoset powder coating market encompasses a broad spectrum of applications and industries, ranging from automotive and aerospace to architectural and furniture. The market size
Thermoset Plastic Market Size, Share, Growth, Analysis & Demand
The research report published by Market desk.us based on the Global Thermoset Plastic Market Report 2020 aims to deliver an explicit evaluation of the market. This report gives insights extracted by thoroughly analyzing past and current developments in the market. It also provides par excellence futuristic estimations for different vital factors including Thermoset Plastic market size, share, net profit, sales, revenue, and growth rate. Get Sample PDF of Thermoset Plastic Market
Thermoset Prepreg Market Size, Share, Development by 2024
Global Info Research offers a latest published report on Thermoset Prepreg Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. This report focuses on the key global Thermoset Prepreg players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the Thermoset Prepreg with respect to individual growth
Global Thermoset Prepreg Market Report and 2020 Outlook
Global Thermoset Prepreg market report is first of its kind research report that covers the overview, summary, market dynamics, competitive analysis, and leading player’s various strategies to sustain in the global market. This report covers five top regions of the globe and countries within, which shows the status of regional development, consisting of market value, volume, size, and price data. Apart from this, the report also covers detail information about various