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Thermoset Composites Market Analysis 2019 With Players Like Jushi Group, Hexion Inc. , PPG Industries, AGY, Hexcel Corporation, Teijin, SGL CarbonOwens Corning, , Huntsman Corporation, Johns Manville, Toray Industries And More

Thermoset Composites

Global thermoset composites market is expected to rise from its initial estimated value of USD 47.85 billion to an estimated value of USD 80.81 billion by 2026, registering a CAGR of 6.77% in the forecast period of 2019-2026. Increasing demand of light weight material from various end- user industries is driving the market.

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Market Definition: Global Thermoset Composites Market

Thermoset composites are those polymers which once converted into solid form cannot be converted back to its original form. They usually have high strength. Due to their high performance and light weight they are widely used in aerospace & defense, wind energy, transport, sporting goods, marine, construction & infrastructure, pipe & tank and electrical & electronic.

Market Drivers

  • Increasing demand of lightweight materials is driving the growth of this market.
  • Growing wind energy sector is increasing the demand for thermoset composites; which is a factor driving the market

Market Restraints

  • Problems related to recyclability and reusability of the product is restraining the growth of this market.
  • High cost for Research and Development is restraining the market.

 Key Developments in the Market:

  • In February 2018, IDI Composites International announced the launch of their two new thermoset composites Ultrium and Fortium STC. They can improve the durability and flexibility of many products and is very useful for designer and engineers. These two new materials have high stiffness and strength. The main aim is to give molders and OEMs a material that requires high strength but is cost- effective.
  • In October 2018, Bitrez announced the launch of their Curabox which is a flame retardant benzoxazine thermoset resins. They have excellent mechanical and electrical properties and have high service temperature which makes it very suitable for manufacturer. They can be widely used in primary and secondary structures for aerospace and in structural part of trains, buses, trucks and cars.

Key Market Competitors:

Few of the major competitors currently working in the thermoset composites market are Owens Corning, TORAY INDUSTRIES, INC., JEC Group, TEIJIN LIMITED, SGL Carbon, PPG Industries, Inc., Huntsman International LLC., Mitsubishi Chemical Holdings Corporation, Solvay, TAEKWANG Industrial Co., ltd, Carbon Mods, Hexion, Johns Manville., AGY, Quantum Composites, Plasan Carbon Composites, Gaffco Ballistics Inc, Henkel AG & Co. KGaA, KINECO – KAMAN, Advanced Composites Inc.

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Global thermoset composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of thermoset composites market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Segmentation: Global Thermoset Composites Market

  • By Fiber Type
    • Glass Fiber Thermoset Composite
    • Carbon Fiber Thermoset Composite
    • Other Fiber Composites
  • Resin Type
    • Polyester Resin
    • Vinyl Ester Resin
    • Epoxy Resin
    • Phenolic Resin
    • Polyurethane Resin
    • Other Thermoset Resins
  • Manufacturing Process
    • Lay-Up Process
      • Tape Lay-Up
      • Hand Lay-Up
      • Spray Lay-Up
    • Filament Winding Process
    • Infusion Process, Compression
    • Molding Process
    • Injection Molding Process
    • Pultrusion Process
    • Other Processes
  • By End- Use
    • Aerospace & Defense
    • Wind Energy
    • Transportation
    • Sporting Goods
    • Marine
    • Construction & Infrastructure
    • Pipe & Tank
    • Electrical & Electronics
    • Other
  • By Geography
  • North America
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Turkey
    • Belgium
    • Netherlands
    • Switzerland
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
    • Singapore
    • Thailand
    • Malaysia
    • Indonesia
    • Philippines
    • Rest of Asia Pacific
  • Middle East & Africa
    • South Africa
    • Egypt
    • Saudi Arabia
    • United Arab Emirates
    • Israel
    • Rest of Middle East & Africa

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