The global market for Thermoset Composites is estimated at US$59.5 Billion in 2023 and is projected to reach US$93.3 Billion by 2030, growing at a CAGR of 6.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the thermoset composites market is driven by several factors, including technological advancements, increasing demand in end-use industries, and evolving consumer preferences. Technological innovations, such as improved resin formulations and advanced manufacturing processes like resin transfer molding and pultrusion, are enhancing the performance and cost-effectiveness of thermoset composites. The rising demand from the aerospace and automotive industries, driven by the need for fuel-efficient and lightweight materials, is a significant growth driver. In construction, the push for sustainable and long-lasting materials is boosting the adoption of thermoset composites. Additionally, consumer preferences for durable, high-performance products are influencing market trends, particularly in the automotive and sporting goods sectors. The expansion of renewable energy projects, such as wind energy, where thermoset composites are used for turbine blades, also contributes to market growth. As industries continue to seek materials that offer superior performance and longevity, the demand for thermoset composites is expected to rise, spurring further advancements and applications in various fields.
The growth in the thermoset composites market is driven by several factors, including technological advancements, increasing demand in end-use industries, and evolving consumer preferences. Technological innovations, such as improved resin formulations and advanced manufacturing processes like resin transfer molding and pultrusion, are enhancing the performance and cost-effectiveness of thermoset composites. The rising demand from the aerospace and automotive industries, driven by the need for fuel-efficient and lightweight materials, is a significant growth driver. In construction, the push for sustainable and long-lasting materials is boosting the adoption of thermoset composites. Additionally, consumer preferences for durable, high-performance products are influencing market trends, particularly in the automotive and sporting goods sectors. The expansion of renewable energy projects, such as wind energy, where thermoset composites are used for turbine blades, also contributes to market growth. As industries continue to seek materials that offer superior performance and longevity, the demand for thermoset composites is expected to rise, spurring further advancements and applications in various fields.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Epoxy Resin-based Thermoset Composites segment, which is expected to reach US$41.0 Billion by 2030 with a CAGR of a 7.3%. The Polyester Resin-based Thermoset Composites segment is also set to grow at 6.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $10.8 Billion in 2023, and China, forecasted to grow at an impressive 7.9% CAGR to reach $18.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Thermoset Composites Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Thermoset Composites Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Thermoset Composites Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Accurate Plastics Inc., Advanced Composite Structures Australia Pty Ltd, AGY Holding Corp., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 71 Featured):
- Accurate Plastics Inc.
- Advanced Composite Structures Australia Pty Ltd
- AGY Holding Corp.
- Arkema S.A.
- Avient Corporation
- China Jushi Co., Ltd.
- Hexcel Corporation
- Hexion Inc.
- Huntsman International LLC.
- JEC Group
- Johns Manville Corporation
- KINECO - KAMAN
- Lingol Corporation
- Mar-Bal, Inc.
- Mitsubishi Chemical Corporation
- Owens Corning
- Plasan Carbon Composites
- PPG Industries, Inc.
- Reliance Industries Limited.
- SGL Carbon SE
- Solvay S.A.
- Teijin Limited
- Toray Advanced Composites
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEAUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accurate Plastics Inc.
- Advanced Composite Structures Australia Pty Ltd
- AGY Holding Corp.
- Arkema S.A.
- Avient Corporation
- China Jushi Co., Ltd.
- Hexcel Corporation
- Hexion Inc.
- Huntsman International LLC.
- JEC Group
- Johns Manville Corporation
- KINECO - KAMAN
- Lingol Corporation
- Mar-Bal, Inc.
- Mitsubishi Chemical Corporation
- Owens Corning
- Plasan Carbon Composites
- PPG Industries, Inc.
- Reliance Industries Limited.
- SGL Carbon SE
- Solvay S.A.
- Teijin Limited
- Toray Advanced Composites
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 560 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 59.5 Billion |
| Forecasted Market Value ( USD | $ 93.3 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
