Press release
Thermoset Composites Market worth $107.09 billion by 2030, growing at a CAGR of 6.89% - Exclusive Report by 360iResearch
The "Thermoset Composites Market by Resin Type (Epoxy, Phenolic, Polyurethane), Fiber Type (Carbon Fiber, Glass Fiber), Manufacturing Process, End-Use Industry - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.The Global Thermoset Composites Market to grow from USD 67.15 billion in 2023 to USD 107.09 billion by 2030, at a CAGR of 6.89%.
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Thermoset composites are a class of advanced composite materials consisting of thermosetting resins, hardened or cured through heat or chemical reactions, and reinforcement fibers. These composites are extensively used in aerospace, automotive, marine, electrical, construction, and sporting goods industries owing to their superior performance characteristics such as high strength-to-weight ratio, low thermal expansion coefficient, good electrical insulation properties, corrosion resistance, and dimensional stability under prolonged exposure to harsh environmental conditions. However, the complex manufacturing process of thermoset composites and their environmental impact significantly affect product production and usage. Market players are working on research into novel resins providing enhanced chemical resistance or thermal stability, which can open up new possibilities in demanding environments such as oil & gas exploration or high-temperature industrial processes. In addition, exploring recycling technologies for end-of-life thermosets can contribute to a circular economy approach by reducing waste generation and material consumption.
The Americas region observes a strong demand for thermoset composites from imports and domestic production to cater to their growing aerospace & defense, automotive, electrical & electronics, and construction industries. There is an increased focus on research & development activities for innovative manufacturing processes, including resin transfer molding (RTM) and autoclave processing methods for advanced thermosetting resins, including epoxy resins and phenolic resins. Asia stays ahead in production capacity and consumption patterns, making it one of the largest markets for thermosetting composites globally. Large multinational corporations have moved their production facilities to Asian countries such as China, India, and Southeast Asian nations owing to lower labor costs and favorable regulations, contributing to establishing a robust manufacturing base for thermoset composites in this region. The European Union's stringent environmental regulations have been driving the adoption of lightweight materials such as thermosets in automotive and transportation industries to meet emission standards. Research institutes and industry collaborations in Europe are working towards developing sustainable materials for thermoset composites.
Market Segmentation & Coverage:
This research report categorizes the Thermoset Composites Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Resin Type, market is studied across Epoxy, Phenolic, Polyurethane, and Silicone. The Polyurethane is projected to witness significant market share during forecast period.
Based on Fiber Type, market is studied across Carbon Fiber and Glass Fiber. The Carbon Fiber is projected to witness significant market share during forecast period.
Based on Manufacturing Process, market is studied across Compression Molding, Filament Winding, Injection Molding, Lay-Up, Pultrusion, and Resin Infusion. The Compression Molding is projected to witness significant market share during forecast period.
Based on End-Use Industry, market is studied across Aerospace & Defense, Construction & Infrastructure, Electrical & Electronics, Marine, Pipe & Tank, Sporting Goods, Transportation, and Wind Energy. The Wind Energy is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.25% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Thermoset Composites Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Thermoset Composites Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Thermoset Composites Market, highlighting leading vendors and their innovative profiles. These include Accurate Plastics, Arkema SA, Atlas Fibre, Bermar Associates, Inc., C2 Composites, Covestro AG, Hexcel Corporation, Huntsman Corporation, Johns Manville, Lingol Corporation, Mar-Bal, Inc., Mitsubishi Chemical Corporation, Norplex-Micarta, Nouryon, Owens Corning, Redwood Plastics and Rubber, SGL Carbon SE, Solvay SA, Southwest Plastics Co., Teijin Ltd., The Gund Company, Toray Advanced Composites, Trident Plastics, Inc., and Woodland Plastics Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Thermoset Composites Market, by Resin Type
7. Thermoset Composites Market, by Fiber Type
8. Thermoset Composites Market, by Manufacturing Process
9. Thermoset Composites Market, by End-Use Industry
10. Americas Thermoset Composites Market
11. Asia-Pacific Thermoset Composites Market
12. Europe, Middle East & Africa Thermoset Composites Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Thermoset Composites Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Thermoset Composites Market?
3. What is the competitive strategic window for opportunities in the Thermoset Composites Market?
4. What are the technology trends and regulatory frameworks in the Thermoset Composites Market?
5. What is the market share of the leading vendors in the Thermoset Composites Market?
6. What modes and strategic moves are considered suitable for entering the Thermoset Composites Market?
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