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Thermoset Composites Market Strategies and Insight Drivers 2026 | Mitsubishi Chemical Holdings Corporation, Solvay, TAEKWANG Industrial Co., ltd, Carbon Mods
Thermoset Composites Market
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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.
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.
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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.
Segmentation: Global Thermoset Composites Market
Thermoset Composites Market : By Fiber Type
Glass Fiber Thermoset Composite
Carbon Fiber Thermoset Composite
Other Fiber Composites
Resin Type
Manufacturing Process
Thermoset Composites Market : By End- Use
Aerospace & Defense
Wind Energy
Transportation
Sporting Goods
Marine
Construction & Infrastructure
Pipe & Tank
Electrical & Electronics
Other
Thermoset Composites Market : By Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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.
Thermoset Composites Market Drivers
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
Thermoset Composites Market Restraints
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.
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