Thermosetting molding compounds provide thermal resistance, dimensional stability, high flexural strength, electrical insulation, and capabilities to the thermosetting plastic parts makes them ideal for several applications. Its molecules are bonded via cross-linking process through irreversible chemical reaction under heat & pressure. These are generally stronger than thermoplastics due to the polymer cross-linking and are better suited for high temperature applications. Each type of thermosetting plastic has a unique set of properties and find their use in wide range of applications such as electrical & electronics, automobile bodies, and aerospace. The global thermoset molding compound is anticipated to grow at a CAGR of 6.2% to reach $12,298 million by 2022, from $8,096 million in 2015.
The global thermosetting molding compound market is in its growth stage. Asia-Pacific and Europe are the leading markets for thermoset resin compounds owing to the rapid growth in urbanization and rise in demand from electronic & automotive industries. It is the cost-effective substitute for heavy metals and the need for weight reduction & safety in transportation & aerospace, and rise in demand for thermally stable & corrosion resistant composites drive the market growth. However, fluctuating crude oil prices and regulatory challenges regarding hazardous waste are expected to hamper the market growth.
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The report segments the thermoset molding compound market on the basis of resin type, end-user, and geography. Based on resin type, it is divided into phenolic, epoxy, polyester, urea formaldehyde, and melamine formaldehyde including other resins. On the basis of end-user, it is categorized into automotive, aerospace, electrical & electronics, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Recent development in the market include the development of new EPIKOTE epoxy resin system from Hexion Inc. This resin system has been specified by BMW Group, which can be used for volume production of structural composites parts in new BMW-7 series automobiles. Similarly, Evonik Corporation planned to reopen its specialty polyester production plant located in Mobile, Ala. The company is expected to complete construction of this facility by 2018.
Comprehensive competitive analysis and profiles of the major market players include:
Ashland Global Holding Inc. BASF SE Eastman Chemical Company Evonik Industries AG Hexion Inc. Huntsman Corporation Kolon Industries Inc. Kyocera Chemical Corporation Plastics Engineering Company (Plenco) Rogers Corporation
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global thermoset molding compounds market, in terms of revenue and volume. In-depth analysis of all regions is conducted by constructing market estimations for key segments between 2014 and 2022, which assist in identifying the prevailing market opportunities. The report assists in understanding the strategies adopted by the companies for the growth of the market. This study evaluates competitive landscape to understand the competitive environment across the geographies. Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.
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The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Thermoset Molding Compound Market also experienced a slowdown. Statista estimates that the industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading Thermoset Molding Compound Market , including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
Market Segment Analysis: The document provides a primary review of the industry along with definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, aggressive panorama evaluation, and key regions development reputation. Development policies and plans are discussed in addition to manufacturing strategies and fee systems are also analyzed. This file additionally states import/export consumption, supply and demand, charge, sales and gross margins.
Phenolic Resin Epoxy Resin Polyester Resin Urea Formaldehyde Resin Melamine Formaldehyde Resin Others
Automotive Aerospace Electrical & Electronics Others
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North America U.S. Canada Mexico Europe UK Germany France Spain Italy Rest of Europe Asia-Pacific China Japan Korea Rest of Asia-Pacific LAMEA Brazil South America Rest of LAMEA
Other major players in the industry include:
Hitachi Chemical Company Ltd. Cosmic Plastics Inc. Chang Chun Plastics Co. Ltd. Saudi Basic Industries Corporation (SABIC) Nan Ya Plastics Corporation Allnex Belgium S.A. Georgia-Pacific Chemicals LLC Jiangsu Tianxin Chemical Co., Ltd. Mitsui Chemicals Inc. Chemiplastica SPA
Significant Questions tended to through this Research Report:
What are the requesting areas for driving this worldwide report?
Which are the significant central participants and contenders?
What will be the market estimate of the market?
Which are the new progressions on the lookout?
What are the Restraints, dangers, and difficulties before the market?
What are the worldwide open doors before the market?
How computerized impression assists with growing the business structure and monetary results?
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Characterize, depict and conjecture 2030, by type, application, end client and district. Give venture outside climate examination and PESTEL investigation. Give systems to organization to manage the effect of COVID-19. Give market dynamic investigation, including market driving variables, market advancement requirements.
Give market passage technique examination to new players or players who are prepared to enter the market, including market section definition, client investigation, circulation model, item informing and situating, and cost system investigation. Stay aware of global market drifts and give examination of the effect of the COVID-19 plague on significant districts of the world. Examine the market chances of partners and give market pioneers subtleties of the serious scene.
The report conveys an exhaustive investigation of the relative multitude of portions and offers data with respect to the main districts on the lookout. This report additionally states import/send out utilization, organic market Figures, cost, industry share, strategy, value, income, and gross edges.
The report presents the current plans of action and systems to carry out new changes in the plans of action to match the latest things and requests.
The report subtleties the vital monetary signs of the Market.
The report examinations the development drifts and assesses patterns specifically portions.
The report analyzes exhibitions of the market fragments opposite other market portions.
Monetary execution of the organizations shows shivery as well as overwhelming the nearby business sectors is inspected in the report.
The report decides section hindrances and answers for enter the market.
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