The Market of Recyclable Thermoset is to grow at CAGR 6.3% by 2023

The new report of Stratview Research analyses the Recyclable Thermoset Market over the trend period from 2012 to 2017 and forecast period from 2018 to 2023. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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The Global Recyclable Thermoset Market: The Growth Prognosis & its Drivers
The global 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.

Market Segments
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.

Market Players
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.

Comprehensive Market Coverage
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This release was published on openPR.