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U.S. Reinforced Thermoset Markets
Frost & Sullivan, Dec 2005
Intensive Consolidation in the Reinforced Thermoset Markets to Slash Production Costs
The frantic pace of merger and acquisition activities in the reinforced thermoset markets has left some segments such as phenolics with only two or three major participants. With their profit margins narrowing, the smaller participants are immensely challenged to stay afloat. While these companies may be nudged out of the market, the mergers and acquisitions augur well for the larger participants that are likely to obtain high market shares and excellent economies of scale. Such intensive consolidation enhances the bargaining power of suppliers, thereby helping restore margins in the markets. It also helps reduce operating costs and avoid supply disruptions, which, in turn, is expected to enable suppliers to dedicate more resources to R&D.
This Frost & Sullivan research service examines the U.S. reinforced thermoset markets and segments them into unsaturated polyester, epoxies, and phenolics. The study also discusses the prevailing industry challenges and provides strategic recommendations to overcome them. The insights enable companies to align their positioning strategies to benefit from the changing market conditions.
Developing New Applications and Substituting Traditional Materials Provide a Huge Boost to the Markets
Reinforced thermosets such as unsaturated polyester and epoxies are riding a popularity wave with their superior strength and better heat/corrosion resistance. They are steadily replacing traditional materials such as wood, steel, and other metals in major industries such as building and construction, automotive, electrical, and marine applications. This demand to substitute traditional materials with reinforced thermosets supplements the need for these emerging materials in new and different end applications, thus significantly augmenting market growth.
The current demand is for custom-made reinforced thermosets, depending on the external factors affecting each application. Due to their specialized features and properties, they are now being used in sanitary ware, wind energy, and other domestic industries that were using traditional materials due to their cost advantage, says the analyst of this study. The concept of better suited, long-lasting materials has been given priority over cost even in niche markets.
Emerging Materials Show Potential for Growth in More Applications
Reinforced thermosets is elbowing out traditional materials from many end-user markets due to their many advantages of high strength, light weight, flexibility in design, parts consolidation, high dielectric strength, dimensional stability, corrosion resistance, and low tooling costs. For instance, in the transportation industry, composite structural components’ tremendous strength-to-weight properties and impressive design flexibility have given them an edge over traditional materials.
Aerospace companies and high-performance sporting goods use premium composite materials including carbon fibers and epoxies for their robustness and light weight. Additionally, due to their electrical insulating properties, composites are widely used in appliances, tools, and other machinery, notes the analyst. Corrosion-resistant composite tanks and pipes offer extended service life over metals, further encouraging the uptake of reinforced thermosets.
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