Global Thermoset Resin Composites Market 2017-2021

Competitive landscape and key vendors

This market appears to be highly competitive owing to the presence of a considerable number of vendors, . The increase in the demand for efficiency, especially in hybrid cars and electric cars, the vendors in the thermoset resin composites market have a huge opportunity for innovation in material production. The increasing demand from various industries including transportation, electrical and electronics, construction, pipes and tanks, and marine sectors will help vendors in this thermoset resin market to widen the application areas of their products.

The leading vendors in the market are -

• Ashland
• BASF
• Huntsman International
• Olin Corporation
• The Dow Chemical Company

The other prominent vendors in the market are AOC, Copps Industries, Dunbar Sales & Manufacturing, Hapco, National Pesticides & Chemicals, Polycast Industries, Polynt, Arkema, Solvay, and United Resin.

Segmentation by type and analysis of the thermoset resin composites market

• Polyester
• Epoxy
• Vinyl ester
• Polyurethane

During 2016, the polyester segment accounted for the major shares of this market. Unsaturated polyesters are used in various applications including pipes and tanks, wind energy, and electrical and electronics. These polyester resins are made from dicarboxylic acids and diols which are dependent on the molecular weight or the degree of polymerization. The use of orthophthalic polyester is economical and has a wide range of applications in several industries mainly due to its high resistance to water.

Overview of the global thermoset resin composites market

Technavio's research analysis on the global thermoset resin composites market has identified the growing demand for lightweight vehicles as one of the major factors that will have a positive impact on the market's growth in the coming years. Thermoset resins are used in exterior and interior automotive components to integrate parts, reduce the weight of components, and operate with high efficiency. With the growing concerns about fuel efficiency and need for the reduction of carbon emissions, the demand for lightweight vehicles is witnessing a continuous increase. This will subsequently increase the demand for thermoset resin composites, fueling the market's growth prospects. Technavio's market research analysts predict that this market will grow at a CAGR of more than 5% by 2021.

In terms of geography, APAC will contribute the highest revenue share of the thermoset resin composites market during the forecast period. The growth of the market in this region is mainly driven by the increasing need for lightweight vehicles. Developing regions such as China and India are the leading countries in terms of consumption of resin composites in the automobile industry. Moreover, the growth in consumer goods and electronic industries is also driving the growth of this thermoset resin market in APAC.

Segmentation by end-user and analysis of the thermoset resin composites market

• Pipe and tank
• Construction
• Electronical and electronics
• Wind energy
• Transportation
• Marine
• Consumer goods
• Aerospace and defense

The pipe and tank end-user segment will contribute to the major revenues to the thermoset resin composites market during the forecast period. Polyester resins have the ability to resist high temperature and corrosion and are widely used to produce large diameter pipes and tanks. Epoxy resins are used to manufacture pipes of small diameters. Fiberglass thermoset resin composites are also used in pipes and tanks since they are resistant to several corrosion types including galvanic and aerobic corrosion.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global thermoset resin composites market?
• What are the key market trends impacting the growth of the global thermoset resin composites market?
• What are the challenges to market growth?
• Who are the key vendors in the global thermoset resin composites market?
• What are the market opportunities and threats faced by the vendors in the global thermoset resin composites market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global thermoset resin composites market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming research report on the global thermoset resin composites market offers insights into the significant trends and drivers stimulating the growth of the chemicals and materials industry. Our reports for the consumer and retail industry also follow a data collection method that enables our industry analysts to extensively analyze of fast growing market segments like textiles, fiber, and composites.   

Moreover, to achieve precision in delivering insights, our industry experts implement an extensive research approach of primary and secondary data collection methods and assess the changing demand-supply landscape of the sector. Few of the key approaches involved in the in this methodology are detailed vendor briefing, online surveys, and consultation of industry journals and publications. Also, by considering the market forecast and size, surging demand for various segments of the textiles, fibers, and composites sector, the market research professionals at Technavio present an all-inclusive picture of the thermoset resin composites market from 2017 to 2021.    

According to our industry experts, the increasing demand for low-cost energy efficient materials may influence the global market during the next four years. Furthermore, to support our clients to gain competitive advantage, this report on the thermoset resin composites market also offers a detailed analysis of niche markets present in several regions across the globe.  

The upcoming industry research report for thermoset resin composites market also categorizes the drivers, influencing trends along with the restraints that the textile, fiber, and composites sector currently experiences. This upcoming report on the thermoset resin composites market presents insights into the rapidly changing vendor landscape to give clients a complete picture of the forthcoming events within the chemical and material industry. Technavio also offers in-depth market assessments into the sectors such as olefins and metals and minerals.  

Our market research methodology for the thermoset resin composites market

Technavio also offers clients the possibility to customize every report to suit their specific requirements and offers attractive discounts on all forthcoming reports and future purchases.