Lucintel Forecasts the Global Thermoset Resin in the Global Composites Market to Reach $23 billion by 2031

According to a market report by Lucintel, the future of the global thermoset resin in the global composites market looks promising with opportunities in the attractive with opportunities in various end use industries, including marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, and consumers goods. The global thermoset resin in the global composites market is expected to reach an estimated $23 billion by 2031 from $16.8 billion in 2024, at a CAGR of 4% from 2024 to 2030. The major drivers for this market are the increasing demand for lightweight materials, and performance benefits of reinforced composites over rival materials.
Browse 138 figures / charts and 97 tables in this 224 -page report to understand trends, opportunity and forecast in thermoset resin in the global composites market to 2030 by end use (marine, pipe and tank, construction, transportation, wind energy, etc), manufacturing process (hand lay-up/ spray up, resin infusion, filament winding, pultrusion, etc), resin type (polyester, thermoset, epoxy, phenolic, polyurethane, etc), and regions.
Lucintel forecasts that construction is expected to remain the largest segment by both value and volume. Expected growth in the infrastructure development, rehabilitation of old infrastructures, and capital investment in industrial development are the major driving forces that spur growth for these segments over the forecast period. Aerospace & defense is expected to witness highest growth over the forecast period.
Polyester resin will remain the largest segment by value and volume over the forecast period because it offers performance benefits for different applications and also expected to witness the highest growth over the forecast period.
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Asia Pacific is expected to remain the largest region and it is also expected to witness highest growth over the forecast period due to growth in end uses and increasing demand for lightweight materials.
INEOS Composites, BASF, Covestro, Huntsman Corporation, Polynt Group, AOC, Swancor Ind. Co., Ltd., Hexion Inc., Resonac, Sino Polymer Co., Ltd., Scott Bader Co. Ltd., Allnex are the major suppliers in the thermoset resin in the global composites market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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Lucintel finds that the future of the global glass fiber material market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The glass fiber material market is expected to reach an estimated $14 billion by 2031 with a CAGR of 4% from 2024 to 2031.

This release was published on openPR.