Thermoset Composites Market Share Driven by Epoxy Adoption and Infrastructure Expansion | Valuates Reports

Thermoset Composites Market Size
The global Thermoset Composites market was valued at US$ 42200 million in 2023 and is anticipated to reach US$ 56430 million by 2030, witnessing a CAGR of 3.8% during the forecast period 2024-2030.

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The Thermoset Composites market is expanding steadily as industries increasingly turn to lightweight, high-strength materials to enhance structural performance and durability. With wide applicability across aerospace, automotive, construction, and energy sectors, thermoset composites are playing a pivotal role in improving product efficiency and lifecycle performance. These trends are contributing to robust market size growth and defining key market trends focused on sustainability, cost-efficiency, and structural integrity.

By type, epoxy-based thermoset composites command the largest market share due to their superior mechanical properties, chemical resistance, and adhesion strength. Epoxies are extensively used in aerospace, automotive, and wind energy applications where high-performance materials are critical for safety and efficiency. Polyester composites follow closely, driven by their cost-effectiveness and widespread use in construction, marine, and pipe applications. Vinyl ester composites are also gaining traction for their enhanced corrosion resistance and are increasingly adopted in marine and chemical processing industries. Phenolic composites, though smaller in market share, play an important role in fire-resistant and low-smoke applications, particularly in transportation and electrical systems. Polyurethane and other specialized thermoset materials contribute steadily to market growth through niche, high-performance applications that demand tailored thermal or mechanical properties.

In terms of application, the transportation sector leads in market share, benefiting from thermoset composites used in lightweight structural parts, interiors, and exterior panels that improve fuel efficiency and performance. Construction and infrastructure is another dominant segment, where thermosets are employed in bridges, panels, and reinforcements due to their strength-to-weight ratio and durability. Wind energy continues to show strong market growth, with thermoset composites being integral to manufacturing turbine blades that withstand extreme environmental conditions. Aerospace and defense applications drive consistent demand for high-performance materials, where weight reduction and thermal resistance are mission-critical. The pipe and tank segment benefits from corrosion resistance in chemical storage and wastewater applications. Marine, sporting goods, and electrical & electronics segments also contribute meaningfully, driven by the increasing use of composites in boats, athletic equipment, and circuit protection components. The "Others" category includes specialized industrial and consumer uses that add depth to the overall market size.

Looking forward, the market forecast indicates strong growth potential, supported by increased adoption across sectors seeking durable, lightweight, and cost-efficient material solutions. The Thermoset Composites market is well-positioned to expand further as innovations in resin systems and manufacturing processes continue to align with evolving industrial performance standards.

Segment by Type

• Polyester
• Epoxy
• Vinyl Ester
• Phenolic
• Polyurethane
• Others

Segment by Application

• Transportation
• Aerospace & Defense
• Sporting Goods
• Wind Energy
• Construction & Infrastructure
• Pipe & Tank
• Marine
• Electrical & Electronics
• Others

By Company

Owens Corning, Toray, Jushi Group, Teijin, CPIC, SGL Group, PPG, Huntsman, Hexcel, Mitsubishi Rayon, Cytec, Reliance Industries, Hexion, Johns Manville, AGY

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