Market Insights
Thermosetting plastics are artificial materials that get hardened when heated. However, they are unable to get remolded or reheated after initial heat forming or molding. Components made by molded thermoset provide resistance against high operating temperature, corrosion, UV exposure, aggressive chemicals, oils and automotive fluids. Owing to these properties, thermosetting plastics are used in a variety of aggressive and challenging end-use environments, ranging from electrical applications to automotive powertrain and transmission components to product with outdoor exposure.
Increasing demand for different types of thermosetting plastics such as epoxies and unsaturated polyesters from the construction industry is driving the growth of the market. In addition, utilization of thermosetting plastics for adhesive dispensing, flip chip packaging, and protective coating in the electronics industry is also supporting the growth of the market. As a result of these factors, the thermosetting plastics market is expected to grow at a promising CAGR of 5.2% during the forecast period.
Segment Analysis
Based on the end-user industry type, the market is segmented as construction, adhesive and sealants, electronics and appliances, automotive, and others. Among these end-user industry types, the construction industry is likely to remain the biggest demand generator for thermosetting plastics during the forecast period owing to their widescale application for having various excellent properties such as chemical resistance, heat resistance, structural integrity, low weight, providing hardness, insolubility, thermal and electrical resistance. Thermosetting plastics are usually used for structural applications in buildings and architecture such as adhesives and sealants, thermal insulation, roofing, piping, bridge structures, and repair and rehabilitation of civil structures. In the construction industry, unsaturated polyesters and epoxies are having wide usage. Epoxies have strong mechanical strength, chemical resistance, and electrical insulating qualities for which they are utilised for pipes, tanks, pressure vessels, machining jigs, and reinforcement applications, whereas unsaturated polyesters are being used for roofs, awnings, skylight domes, partitions, wall siding, decorative fixtures, fences, bathroom accessories, etc.
In terms of regions, Asia-Pacific is expected to remain the largest market for thermosetting plastics over the forecast period on account of their high consumption from countries, such as China and India. Furthermore, the region is also expected to exhibit the highest growth during the forecast period owing to the flourishing construction industry, rapid industrialization, and urbanization in various countries of the region, especially in India and China. Favorable government policies for housing, rising population in the region, emergence of commercial building such as offices and malls due to large foreign investments are likely to support the demand for the product in the region in the coming years.
Key Players
The following are some of the key players in the thermosetting plastics market:
- Alchemie Ltd.
- Asahi Kasei Corporation
- BASF SE
- BUFA GmbH & Co. KG
- Celanese Corporation
- Covestro AG
- Daicel Corporation
- DSM
- Eastman Chemical Company
- INOES
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s thermosetting plastics market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The thermosetting plastics market is segmented into the following categories:
Thermosetting Plastics Market, by Type
- Unsaturated Polyesters (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyurethanes (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Phenolic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Amino (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Alkyd (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Vinyl Ester (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Thermosetting Plastics Market, by End-Use Industry Type
- Construction (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Adhesive and Sealants (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Electronics and Appliances (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Thermosetting Plastics Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
