Thermoset composites are those materials that are considered to be much lighter, harder, stiffer, and more sustainable in nature as compared to traditional metals and plastics. Moreover, they can be produced in high volumes. Thermoset Composites Market can be categorized as continuous and discontinuous composite. It is said that the most extensively employed thermoset composites include LFT, SFT, and GMT.
Factors like improvement in product performance by novelty and modernism as well as reduced total cost for consumers is driving the market. The only factor that is turning a major hurdle in the growth of the market is its moderately higher cost of materials as compared to competing materials. Other than that, the further market development is likely to rely on the material availability at rational prices. It is said that they possess excellent mechanical and physical properties and that’s the reason they have attained huge recognition all over the world as a feasible substitute to die castings, metal assemblies, and traditional plastic materials in the markets, entailing industrial equipment, automotive, consumer goods, and many others.
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Moreover, characteristics like high impact power, enhanced surface quality, reduced product rejection, high rigidity at elevated and sub-zero temperature, creep resistance under harsh surroundings and balanced load have ultimately turned the thermoset market more productive as compared to the thermoset and metals. A price-to-performance benefit has made these materials more striking and useful among various industries like aerospace & defense, transportation, electrical and electronics. Due to factors like rapid industrialization, growth in middle and upper middle class population and economic upturn in countries such as India, Brazil, and China, the demand for thermoset composites has seen a sudden upsurge because of the augmented demand from transportation, consumer goods, and electrical & electronics industry.
Thermoset Composites Market size on the basis of manufacturing process spans Lay-Up, Filament Winding, Injection Molding, Pultrusion, Resin Infusion, Compression Molding, and others. Thermoset Composites Market size on the basis of Fiber Type spans Glass, Carbon, and others. Market size on the basis of Resin Type spans Polyester, Epoxy, and Vinyl Ester, Phenolic, Polyurethane, and others. Market size on the basis of end use spans Transportation, Aerospace & Defense, Sporting Goods, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics, and others.
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Market size on the basis of geography spans North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. As far as the geography is concerned, Asia-Pacific is currently dominating the market and it is likely to display the highest growth rate in near future, the reason being growing economies of China and India that are experiencing augmented demand for thermoset composites. One of the prominent factor like rise in demand from automobiles, aerospace and electric & electronics is playing a major role in boosting the overall growth of thermoset composites market across the globe.
The key target audience of the thermoset composites market includes Thermoset Composites Manufacturers, Raw Material Suppliers, Distributors & Suppliers, and Industry Associations. The key players operating in the Thermoset Composites market include Hexcel Corporation, Mitsubishi Rayon Co., Ltd., Teijin Limited, Owens Corning, Toray Industries, Inc., Jushi Group, and SGL Group.
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Global Thermoset Composites market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- Owens Corning
- Toray Industries Inc.
- Jushi Group Co., Ltd
- Teijin Limited
- Chongqing Polycomp International Corporation
- SGL Group
- PPG Industries Inc.
- Huntsman Corporation
- Hexcel Corporation
- Mitsubishi Rayon
- Cytec Industries Inc.
- Kemrock Industries and Exports Limited
- Taekwang Industries Co Ltd.
- Carbon Mods
- Hexion Inc.
- Johns Manville Corporation
- AGY Holdings
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Vinyl Ester
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Thermoset Composites for each application, including
- Construction & Infrastructure
- Electrical & Electronics
- Sporting Goods
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