The report covers the detailed analysis of the global thermoset resin industry with the classifications of the market on the basis of resin, end-use industry and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player’s contribution in it. Thermoset resin is a polymer, which is irreversibly hardened by curing from viscus liquid or soft solid resin.Heat or suitable radiation is induced at the time of curing and may be promoted by high pressure, or mixing with catalyst. The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region. To Know About The Research Methodology :- Request Free Sample Report The report has profiled key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. Manufacturing environment in each region is different and focus is given to regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Thermoset Resin Market Dynamics
The growing demand from high-temperature application for thermoset resin as it is stronger than thermoplastics is major growth driver for global market. In addition to that, Rise in demand growth from various end-use applications due to superior set of properties such as high-heat resistance, dimensional stability, electrical insulation and superior performance as compared to other substitute products like metals and thermoplastics also drives market growth. On the other hand, the environmental concerns is expected growth restraint for global thermoset resin market during forecast period as it cannot be reprocessed and recycled, and can neither be decomposed naturally. Growth in demand for thermoset resin from aerospace & transportation due to need of weight reduction and technological advancement along with R&D activities, are expected to create more growth opportunities for global thermoset resin market.
Global Thermoset Resin Market, Segment Analysis
Based on resin, vinyl ester resin segment is expected to dominate the global thermoset resin market during forecast period. The vinyl ester segment held XX% of global market shares in 2019 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX% during forecast period. The demand growth from corrosion-resistant containers such as fiberglass tanks and FRP pipes is major growth driver for vinyl ester resin in global thermoset resin market. In addition, rising demand from grating applications also helps in growth of vinyl ester segment. On the basis of end-use industry, the automotive segment was major shareholder in 2019 and expected to remain major during forecast period.The growing demand from automotive components such as pump parts, pistons, wheel, carbon brush holder, electrical endplates, panels, vacuum pumps, water pump housings, pedals and electrical encapsulation, is expected to drive growth of automotive segment in global market during forecast period. Also, the properties like high heat tolerance, fatigue resistance and 30-40% lighter than aluminum helps in growth by increasing demand. The automotive segment was valued at US$ XX Bn in 2019 and is expected to grow at a CAGR of XX% during forecast period to reach US$ XX Bn by 2026.
Global Thermoset Resin Market Regional Insights
Asia-Pacific held major shares in global thermoset resin market in 2019 up to 32%. According to International Trade Administration (ITA), the China held major shares in demand for thermoset resin from civil aerospace parts and aviation services. The India is also registering growth in civil aviation sector. Thus, growth of aerospace sector in Asia-Pacific drives the growth of global market in region. Asia-pacific is expected to reach US$ XX Bn by 2026 at a CAGR of XX% during forecast period.
Scope of the Report for Global Thermoset Resin Market: Inquire before buying
The report helps in understanding thermoset resin market dynamics, structure, by analyzing the market segments and projects the global thermoset resin market size. The clear representation of competitive analysis of key players By Resin, price, financial position, product portfolio, growth strategies, and regional presence in the global thermoset resin market make the report investor’s guide. The Report provides detail study of the key players of global thermoset resin market with their growth by conserving past data. In addition to that report helps reader with the company profile, Company Overview, Financial Overview, Product Portfolio, Business Strategy, Recent Developments and Development Footprint analysis and growth strategies for each.
Global Thermoset Resin Market, By Region
• North America • Asia-Pacific • Europe • Latin America • Middle East & Africa
Global Thermoset Resin Market Key Players
• AkzoNobel • DSM • National Petrochemical Company (NPC) • DowDuPont • Evonik • AEP Industries • Teijin Chemicals • Cridel • American Packaging Corporation • Saudi Kayan Petrochemical • North American Pipe Corporation • Shell Oil Company • Hexion • Reliance Industries • GAIL