August 25, 2022 05:48 ET | Source: Research and Markets Research and Markets
Dublin, Aug. 25, 2022 (GLOBE NEWSWIRE) -- The "Thermoset Molding Compound Market By Type, By End User: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering. The global thermoset molding compound market was valued at $9.8 billion in 2020, and is projected to reach $18.0 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030. Thermosetting compounds provide thermosetting plastic parts with heat resistance, dimensional stability, high bending strength, electrical insulation, and functionality, making them ideal for a variety of applications. The molecules are linked via a cross-linking process through irreversible chemical reactions under heat and pressure.
They are generally stronger than thermoplastics due to polymer cross-linking and are suitable for high-temperature applications. Each type of thermosetting plastic has unique properties and is used in a variety of applications such as electrical and electronic equipment, automobile bodies, and aerospace equipment. The global thermosetting compound market is driven primarily by the rapid growth of urbanization and increase in demand from the electronics and automotive industries. Increase in demand for high metal weight and safety in the transport and aviation universe and the need for thermal stable and corrosion-resistant composites propagate the market growth.
The increase in investment in emerging economic countries related to transport infrastructure brought an increase in demand for automotive and airborne transport-related products. Rise in demand for these products actively influences the demand for thermosetting growth. In particular, rapid change in the human living environment after the introduction of portable electronic gadgets, such as smartphones and laptops create a large demand for electrical equipment, which drives the growth of the thermoset molding market. Fluctuations in crude oil prices and regulatory challenges related to hazardous waste, need for high investment by investors to manufacture products, and presence of fierce competition among a large number of global giants are among the markets. It is expected to hinder growth. The thermoset molding compound market is segmented on the basis of type, end-user, and region. Key Benefits For Stakeholders
Key Market Segments By End User
Key Topics Covered: CHAPTER 1: INTRODUCTION CHAPTER 2: EXECUTIVE SUMMARY CHAPTER 3: MARKET OVERVIEW CHAPTER 4: THERMOSET MOLDING COMPOUND MARKET, BY TYPE CHAPTER 5: THERMOSET MOLDING COMPOUND MARKET, BY END USER CHAPTER 6: THERMOSET MOLDING COMPOUND MARKET, BY REGION CHAPTER 7: COMPANY LANDSCAPE CHAPTER 8: COMPANY PROFILES Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/8bgx88