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.
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.
Eastman Chemical Company
Evonik Industries AG
Kolon Industries Inc.
Kyocera Chemical Corporation
Plastics Engineering Company (Plenco)
KEY MARKET BENEFITS:
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.
KEY MARKET SEGMENTS:
By Resin Type
Urea Formaldehyde Resin
Melamine Formaldehyde Resin
Electrical & Electronics
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
1.1. Research Methodology
1.1.1. Secondary Research
1.1.2. Primary Research
1.1.3. 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
3.2.2. Top Winning Strategies
3.3. Market Player Positioning
3.4. Patent Analysis
3.5. Porters Five Forces Analysis
3.5.1. Bargaining Power Of Suppliers
3.5.2. Bargaining Power Of Buyers
3.5.3. Threat Of New Entrants
3.5.4. Threat Of Substitutes
3.5.5. Intensity Of Competitive Rivalry
3.6. Market Dynamics
184.108.40.206. Thermoset Molding Compound: Cost-Effective Substitute For Heavy Metals
220.127.116.11. Need For Weight Reduction And Safety In Transportation & Aerospace
18.104.22.168. Rising Need For Thermally Stable And Corrosion Resistant Components
22.214.171.124. Facilitates The Production Of Complex Shape Parts
126.96.36.199. Volatility In Crude Oil Prices
188.8.131.52. Regulatory Challenges Regarding Hazardous Waste Emission
184.108.40.206. Increasing Demand From Emerging Economies
3.7. Regulatory Framework: Thermosetting Molding Compounds
3.7.1. Epoxy Resin
220.127.116.11. North America
3.7.2. Phenolic Resin
18.104.22.168. North America
3.7.3. Polyester Resin
22.214.171.124. North America
3.7.4. Melamine & Urea Formaldehyde
126.96.36.199. North America
Chapter: 4 Global Thermoset Molding Compound Market, By Type
4.1.1. Market Size And Forecast
4.2. Phenolic Resin
4.2.1. Key Market Trends, Key Growth Factors, And Opportunities
4.2.2. Market Size And Forecast
4.3. Epoxy Resin
4.3.1. Key Market Trends, Key Growth Factors, And Opportunities
4.3.2. Market Size And Forecast
4.4. Polyester Resin
4.4.1. Key Market Trends, Key Growth Factors, And Opportunities
4.4.2. Market Size And Forecast
4.5. Urea Formaldehyde Resin
4.5.1. Key Market Trends, Key Growth Factors, And Opportunities
4.5.2. Market Size And Forecast
4.6. Melamine Formaldehyde Resin
4.6.1. Key Market Trends, Key Growth Factors, And Opportunities
4.6.2. Market Size And Forecast
4.7.1. Key Market Trends, Key Growth Factors, And Opportunities
4.7.2. Market Size And Forecast
Chapter: 5 World Thermoset Molding Compounds Market, By End-User
5.1.1. Market Size & Forecast
5.2.1. Key Market Trends, Growth Factors, And Opportunities
5.2.2. Market Size & Forecast
5.3.1. Key Market Trends, Growth Factors, And Opportunities
5.3.2. Market Size & Forecast
5.4. Electricals & Electronics
5.4.1. Key Market Trends, Growth Factors, And Opportunities
5.4.2. Market Size & Forecast
5.5.1. Key Market Trends, Growth Factors, And Opportunities
5.5.2. Market Size & Forecast
Chapter: 6 Thermoset Molding Compound Market, By Geography
6.1.1. Market Size And Forecast
6.2. North America
6.2.1. Key Market Trends, Growth Factors, And Opportunities
6.2.2. Market Size And Forecast
6.3.1. Key Market Trends, Growth Factors And Opportunities
6.3.2. Market Size And Forecast
6.3.8. Rest Of Europe
6.4.1. Key Market Trends, Growth Factors And Opportunities
6.4.2. Market Size And Forecast
6.4.6. Rest Of Asia-Pacific
6.5.1. Key Market Trends, Growth Factors And Opportunities
6.5.2. Market Size And Forecast
6.5.4. South Africa
6.5.5. Rest Of Lamea
Chapter: 7 Company Profiles
7.1. Ashland Global Holding Inc.
7.1.1. Company Overview
7.1.2. Operating Business Segments
7.1.3. Business Performance
7.1.4. Key Strategic Moves And Developments
7.2. Basf Se
7.2.1. Company Overview
7.2.2. Operating Business Segments
7.2.3. Business Performance
7.2.4. Key Strategic Moves And Developments
7.3. Eastman Chemical Company
7.3.1. Company Overview
7.3.2. Operating Business Segments
7.3.3. Business Performance
7.3.4. Key Strategic Moves And Developments
7.4. Evonik Industries Ag
7.4.1. Company Overview
7.4.2. Operating Business Segments
7.4.3. Business Performance
7.4.4. Key Strategic Moves And Developments
7.5. Hexion Inc.
7.5.1. Company Overview
7.5.2. Operating Business Segments
7.5.3. Business Performance
7.5.4. Key Strategic Moves And Developments
7.6. Huntsman Corporation
7.6.1. Company Overview
7.6.2. Operating Business Segments
7.6.3. Business Performance
7.6.4. Key Strategic Moves And Developments
7.7. Kolon Industries Inc.
7.7.1. Company Overview
7.7.2. Operating Business Segments
7.7.3. Business Performance
7.8. Kyocera Chemical Corporation
7.8.1. Company Overview
7.8.2. Operating Business Segments
7.8.3. Business Performance
7.8.4. Key Strategic Moves And Developments
7.9. Plastics Engineering Company (Plenco)
7.9.1. Company Overview
7.9.2. Operating Business Segments
7.9.3. Business Performance
7.10. Rogers Corporation
7.10.2. Operating Business Segments
7.10.3. Business Performance
7.10.4. Key Strategic Moves And Developments
The thermoset molding compound market is in its growth stage due to need for weight reduction & safety in transportation and aerospace and increase in demand for thermally stable and corrosion resistant composites. It is emerged as a cost-effective substitute material for the heavy metal in different applications.
Factors that drive the growth of the global thermoset molding compound market are need for safety in transportation & aerospace industry, economically viable option than heavy metals, rise in need for thermally stable & corrosion resistant components, and ease in production of complex shape parts. Economic development in the emerging economies of regions such as Asia-Pacific and LAMEA are expected to provide significant growth opportunities to the industry players. However, factors such as volatility in crude oil prices and stringent regulation associated with thermoset resin may hamper the market growth during the forecast period.
In 2015, polyester resin was the leading segment, with almost one-third market share in terms of revenue, followed by phenolic, urea formaldehyde, and epoxy resin. Polyester resin molding compounds offer remarkable flexibility and it is used for diverse application needs from automotive body panel to a rugged underground utility box. It offers excellent resistance to broad range of chemicals at room temperature such as aliphatic hydrocarbons, gasoline, alcohols, glycols, and ethers. These resins are advantageous for the applications where high mechanical properties, corrosion resistance, and low weight are the foremost important factors. Further, its applications in airplanes, trucks, buses, as structural part in building, sanitary ware market, and cladding panels, roofing tiles, and pipes drives the growth of the market.
Electrical & electronics end-user segment generated the highest revenue in 2015, with almost half of the total market share, followed by automotive segment. Thermosetting molding compounds are used to encapsulate different types of electronic packages such as capacitors, transistors, central processing units (CPUs), memory devices, and others. Along with this, molding compound are also employed in different electrical appliances & circuits owing to its distinct properties, such as rigidity, toughness, resistance to several environmental factors, low cost, stability, and flame resistance.
Key Findings of the Thermoset Molding Compounds Market
In 2015, Asia-Pacific dominated the global market with around half of the share in overall market in terms of revenue.
Automotive is the fastest developing end-user industry growing at a highest CAGR of 6.9% in terms of revenue, from 2016 to 2022.
Polyester is the leading segment comprise of one-third share of the total market revenue in 2015.
In 2015, phenolic resin holds the largest market in terms of volume in the global market.
Melamine formaldehyde segment is expected to grow at a lucrative rate of 7.3% during the forecast period
In 2015, Asia-Pacific is the leading region owing to the increase in disposable income, rapid growth in urbanization, and rise in need for weight reduction in automotive components. Further, LAMEA is projected to be the fastest growing region, with a CAGR of 6.8% followed by Europe with 6.4% owing to the rapid industrialization and increase in demand from electrical & electronics industries.
The major companies profiled in the report 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.
- 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