Product Code: A01576
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.
The global thermoset molding compounds market mainly emphasizes on thermoset resins and its different types, including phenolic resin, epoxy resin, polyester resin, urea formaldehyde resin, melamine formaldehyde resin, and others. Thermoset molding compound market analysis further includes the current market trends and future opportunities in several end-use industries such as automotive, aerospace, and electrical & electronics. The global thermoset molding compound market is analyzed based on four regions, which include North America, Europe, Asia-Pacific, and LAMEA. Amongst them, Asia-Pacific leads the global thermoset molding compound market in terms of value and volume. LAMEA is the fastest growing region owing to the rise in urbanization and growth in demand for lightweight materials in automotive industries.
The key players operating in the global thermoset molding compound market are 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), and Rogers Corporation. Other major players in the market 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., and Chemiplastica SPA are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the thermoset molding compound market during the forecast period.
COVID-19 Impact Analysis:
- COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market. Further, moulding manufacturers are being forced to shut down or limit production processes, for non-essential applications. However, as a result of the COVID-19 pandemic, the thermoset molding compound market also experienced a slowdown.
- Key benefits for stakeholders
- This report provides a detailed quantitative analysis of the current thermoset molding compound market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
- An in-depth analysis of thermoset molding compound market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global thermoset molding compound market.
Key Market Segments
By End User
- Automotive
- Aerospace
- Electrical and Electronics
- Others
By Type
- Phenolic Resin
- Epoxy Resin
- Polyester Resin
- Urea Formaldehyde
- Melamine Formaldehyde
- Others
By Region
- North America
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- South Africa
- Rest of LAMEA
- Key Market Players
- 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
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Pricing Analysis
- 3.8.Value Chain Analysis
- 3.9.Key Regulation Analysis
CHAPTER 4: THERMOSET MOLDING COMPOUND MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Phenolic Resin
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Epoxy Resin
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
- 4.4 Polyester Resin
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market analysis by country
- 4.5 Urea Formaldehyde
- 4.5.1 Key market trends, growth factors and opportunities
- 4.5.2 Market size and forecast, by region
- 4.5.3 Market analysis by country
- 4.6 Melamine Formaldehyde
- 4.6.1 Key market trends, growth factors and opportunities
- 4.6.2 Market size and forecast, by region
- 4.6.3 Market analysis by country
- 4.7 Others
- 4.7.1 Key market trends, growth factors and opportunities
- 4.7.2 Market size and forecast, by region
- 4.7.3 Market analysis by country
CHAPTER 5: THERMOSET MOLDING COMPOUND MARKET, BY END USER
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Automotive
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Aerospace
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Electrical and Electronics
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
- 5.5 Others
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market analysis by country
CHAPTER 6: THERMOSET MOLDING COMPOUND MARKET, BY REGION
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 North America
- 6.2.1 Key trends and opportunities
- 6.2.2 North America Market size and forecast, by Type
- 6.2.3 North America Market size and forecast, by End User
- 6.2.4 North America Market size and forecast, by country
- 6.2.4.1 U.S.
- 6.2.4.1.1 Market size and forecast, by Type
- 6.2.4.1.2 Market size and forecast, by End User
- 6.2.4.2 Canada
- 6.2.4.2.1 Market size and forecast, by Type
- 6.2.4.2.2 Market size and forecast, by End User
- 6.2.4.3 Mexico
- 6.2.4.3.1 Market size and forecast, by Type
- 6.2.4.3.2 Market size and forecast, by End User
- 6.3 Europe
- 6.3.1 Key trends and opportunities
- 6.3.2 Europe Market size and forecast, by Type
- 6.3.3 Europe Market size and forecast, by End User
- 6.3.4 Europe Market size and forecast, by country
- 6.3.4.1 United Kingdom
- 6.3.4.1.1 Market size and forecast, by Type
- 6.3.4.1.2 Market size and forecast, by End User
- 6.3.4.2 Germany
- 6.3.4.2.1 Market size and forecast, by Type
- 6.3.4.2.2 Market size and forecast, by End User
- 6.3.4.3 France
- 6.3.4.3.1 Market size and forecast, by Type
- 6.3.4.3.2 Market size and forecast, by End User
- 6.3.4.4 Spain
- 6.3.4.4.1 Market size and forecast, by Type
- 6.3.4.4.2 Market size and forecast, by End User
- 6.3.4.5 Italy
- 6.3.4.5.1 Market size and forecast, by Type
- 6.3.4.5.2 Market size and forecast, by End User
- 6.3.4.6 Rest of Europe
- 6.3.4.6.1 Market size and forecast, by Type
- 6.3.4.6.2 Market size and forecast, by End User
- 6.4 Asia-Pacific
- 6.4.1 Key trends and opportunities
- 6.4.2 Asia-Pacific Market size and forecast, by Type
- 6.4.3 Asia-Pacific Market size and forecast, by End User
- 6.4.4 Asia-Pacific Market size and forecast, by country
- 6.4.4.1 China
- 6.4.4.1.1 Market size and forecast, by Type
- 6.4.4.1.2 Market size and forecast, by End User
- 6.4.4.2 Japan
- 6.4.4.2.1 Market size and forecast, by Type
- 6.4.4.2.2 Market size and forecast, by End User
- 6.4.4.3 South Korea
- 6.4.4.3.1 Market size and forecast, by Type
- 6.4.4.3.2 Market size and forecast, by End User
- 6.4.4.4 Rest Of Asia Pacific
- 6.4.4.4.1 Market size and forecast, by Type
- 6.4.4.4.2 Market size and forecast, by End User
- 6.5 LAMEA
- 6.5.1 Key trends and opportunities
- 6.5.2 LAMEA Market size and forecast, by Type
- 6.5.3 LAMEA Market size and forecast, by End User
- 6.5.4 LAMEA Market size and forecast, by country
- 6.5.4.1 Brazil
- 6.5.4.1.1 Market size and forecast, by Type
- 6.5.4.1.2 Market size and forecast, by End User
- 6.5.4.2 South Africa
- 6.5.4.2.1 Market size and forecast, by Type
- 6.5.4.2.2 Market size and forecast, by End User
- 6.5.4.3 Rest of LAMEA
- 6.5.4.3.1 Market size and forecast, by Type
- 6.5.4.3.2 Market size and forecast, by End User
CHAPTER 7: COMPANY LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Key developments
CHAPTER 8: COMPANY PROFILES
- 8.1 ASHLAND GLOBAL HOLDING INC.
- 8.1.1 Company overview
- 8.1.2 Company snapshot
- 8.1.3 Operating business segments
- 8.1.4 Product portfolio
- 8.1.5 Business performance
- 8.1.6 Key strategic moves and developments
- 8.2 BASF SE
- 8.2.1 Company overview
- 8.2.2 Company snapshot
- 8.2.3 Operating business segments
- 8.2.4 Product portfolio
- 8.2.5 Business performance
- 8.2.6 Key strategic moves and developments
- 8.3 EASTMAN CHEMICAL COMPANY
- 8.3.1 Company overview
- 8.3.2 Company snapshot
- 8.3.3 Operating business segments
- 8.3.4 Product portfolio
- 8.3.5 Business performance
- 8.3.6 Key strategic moves and developments
- 8.4 EVONIK INDUSTRIES AG
- 8.4.1 Company overview
- 8.4.2 Company snapshot
- 8.4.3 Operating business segments
- 8.4.4 Product portfolio
- 8.4.5 Business performance
- 8.4.6 Key strategic moves and developments
- 8.5 HEXION INC.
- 8.5.1 Company overview
- 8.5.2 Company snapshot
- 8.5.3 Operating business segments
- 8.5.4 Product portfolio
- 8.5.5 Business performance
- 8.5.6 Key strategic moves and developments
- 8.6 HUNTSMAN CORPORATION
- 8.6.1 Company overview
- 8.6.2 Company snapshot
- 8.6.3 Operating business segments
- 8.6.4 Product portfolio
- 8.6.5 Business performance
- 8.6.6 Key strategic moves and developments
- 8.7 KOLON INDUSTRIES INC.
- 8.7.1 Company overview
- 8.7.2 Company snapshot
- 8.7.3 Operating business segments
- 8.7.4 Product portfolio
- 8.7.5 Business performance
- 8.7.6 Key strategic moves and developments
- 8.8 KYOCERA CHEMICAL CORPORATION
- 8.8.1 Company overview
- 8.8.2 Company snapshot
- 8.8.3 Operating business segments
- 8.8.4 Product portfolio
- 8.8.5 Business performance
- 8.8.6 Key strategic moves and developments
- 8.9 PLASTICS ENGINEERING COMPANY (PLENCO)
- 8.9.1 Company overview
- 8.9.2 Company snapshot
- 8.9.3 Operating business segments
- 8.9.4 Product portfolio
- 8.9.5 Business performance
- 8.9.6 Key strategic moves and developments
- 8.10 ROGERS CORPORATION
- 8.10.1 Company overview
- 8.10.2 Company snapshot
- 8.10.3 Operating business segments
- 8.10.4 Product portfolio
- 8.10.5 Business performance
- 8.10.6 Key strategic moves and developments