Construction Thermoset Compounds Market Report

Market Insights

“The construction thermoset compounds market was valued at US$498 million in 2024 and is likely to grow at a decent CAGR of 3.1% in the long run to reach US$592 million in 2030.”

Market Dynamics

Introduction

In the construction industry, thermoset compounds are increasingly valued for delivering durable, lightweight, and corrosion-resistant solutions that meet the sector’s demand for long-lasting infrastructure. These materials combine excellent electrical insulation, flame retardancy, and weather resistance with the advantage of high-volume molding efficiency, making them both practical and cost-effective.

A major driver of adoption comes from municipalities and public works programs, which are actively seeking low-maintenance, theft-resistant alternatives to traditional metal components. As a result, thermoset compounds are finding widespread use in manhole covers, utility chambers, wall panels, fencing panels, construction barriers, and door skins—applications where both mechanical strength and environmental durability are essential.

Looking ahead, trends such as rapid urbanization, the rise of smart cities, sustainability-focused procurement, and the need for fast, scalable deployment of infrastructure are accelerating demand. With their balance of performance, reliability, and cost efficiency, thermoset compounds are becoming an integral material of choice for modern construction and infrastructure projects worldwide.

Recent Market JVs and Acquisitions:

The construction thermoset compounds market has undergone M&A and partnerships worldwide to expand capacities, diversify portfolios, expand market reach, and drive technological innovation:

• In 2018, LyondellBasell acquired A. Schulman, Inc., a leading global supplier of high-performance plastic compounds, composites, and powders. The acquisition more than doubles its existing compounding business and broadens the reach into growing, high-margin end markets such as automotive, construction, electrical & electronics, and aerospace & defense.
• In 2017, the Polynt-Reichhold merger created a global thermoset player with enhanced capabilities in SMC/BMC compounds, leveraging integrated supply chains, expanded R&D, and 44 plants to serve diverse industrial and mobility categories.

Market Segments' Analysis

By Application Type

“The expected biggest application category of the construction thermoset compounds market is covers & chambers.”

By application type, the market is divided into covers & chambers, panels, ramps & barriers, and other applications. Covers & chambers take the lead since they are a direct replacement of traditional metal access solutions in scale, and meet municipal procurement requirements of standardized, modular, and easily installed utility access components. In addition, covers & chambers require materials that integrate load-bearing capacity, long service life, and low lifecycle maintenance, which SMC and BMC offer by having great dimensional stability, corrosion resistance, and withstanding environmental degradation. These parts (flat load-bearing surfaces, built-in locking or anti-theft mechanisms, and easily handled) are geometrically and functionally suited to thermoset molding capability and have continued to be used over the years on both urban and suburban and rural infrastructure development.

By End-User Type

“Municipalities are expected to remain the dominant consumer of the construction thermoset compounds market.”

By end-user type, the market is divided into residential, commercial, and municipal. Among these, the municipal segment dominates the market, driven by the scale and standardization of public works programs. City and county agencies regularly procure manhole covers, utility chambers, and access panels in large volumes through long-term contracts and framework agreements. These standardized, repeatable purchases align well with the high-throughput economics of SMC/BMC molding and the reliability of established supply chains. Municipalities also serve as the key specification authorities for material selection and product design, with a strong focus on lifecycle performance, safety, and ease of maintenance. Their preference for non-metallic, low-maintenance, theft- and corrosion-resistant components continues to reinforce the dominance of thermoset compounds in public infrastructure projects.

By Product Type

“SMC is likely to be the most prevalent product type of the construction thermoset compounds market.”

By product type, the market is SMC and BMC. The dominance of SMC is due to its usage in large, heavy, and visible products that are needed in large infrastructure projects. SMC allows for compression molding of large panels and covers with steady surface quality and dimensional integrity that is used by manufacturers to produce paintable, modular access lids and chamber panels on a large scale and to suit municipal procurement standards. In addition to the benefits in throughput, SMC provides a strong package of mechanical performance, weatherability, and reduced cost of installation in utility infrastructure.

By Resin Type

“Polyester is likely to be the dominant resin type of the market.”

By resin type, the market is segmented into polyester, epoxy, and other resins. Polyester resins capture most of the construction thermoset compounds market due to their low cost, established durability, and easy processing, which is important for large-volume production of enormous load-bearing components such as covers and chamber panels. Their suitability in SMC/BMC processes and flame-retardants allows quick compression molding with tough and weatherproof parts, which comply with municipal load and safety requirements with minimum lifecycle maintenance.

Regional Analysis

“Asia-Pacific is likely to continue as the largest market for construction thermoset compounds.”

The region's dominance comes with the vast infrastructure advancement, fast urbanization, and government-sponsored utility enhancements in major economies such as China, India, and Southeast Asia. The massive application of underground chambers, drainage covers, and modular access solutions place a long-term demand of thermoset compounds, cementing the geographical location of the region as the world leader in the construction of thermoset compounds. The region is also advantageous in terms of competitive manufacturing ecosystems, the rising construction supply chains, and the popularity of lightweight, corrosion-resistant materials in smart city and renewable infrastructure development.

Key Players

The market is highly fragmented, with more than 50 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, and regional presence, etc. The following are the key players in the construction thermoset compounds market. Some of the major players provide a complete range of services.

Here is the list of the Top Players (Based on Dominance)

• Core Molding Technologies
• IDI Composites International
• Polynt Group
• LyondellBasell
• Astar SA
• Menzolit
• Changzhou Jiang's Compound Materials Technology Co., Ltd.
• Mitsui Chemicals Group
• Zhejiang Yueqing SMC & BMC
• Paya Plast Iranian

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for 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, service 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 construction thermoset compounds market is segmented into the following categories.

Construction Thermoset Compounds Market, by Application

• Covers & Chambers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Panels (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Ramps & Barriers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Applications (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Construction Thermoset Compounds Market, by End-User

• Residential (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Municipal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Construction Thermoset Compounds Market, by Product

• SMC (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• BMC (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Resin Thermoset Compounds Market, by Resin

• Polyester (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)
• Other Resins (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Construction Thermoset Compounds Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s construction thermoset compounds market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating 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 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected 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: Service portfolio, geographical reach, regional presence, and strategic alliances

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