The global recyclable thermoset market has been estimated to be USD 333.85 million in 2020 and is projected to reach USD 427.74 million by 2028, at a CAGR of 3.1% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the global recyclable thermoset market has been estimated to be at USD 400.89 million in 2020 and USD 610.33 million in 2028, with a CAGR of 5.4%.
By volume, the global recyclable thermoset market is estimated to be 203.48 kiloton in 2020 and anticipated to reach 264.10 kiloton in 2028 with a CAGR of 3.3% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be 251.72 kiloton in 2020 and 356.99 kiloton in 2028 with a CAGR of 4.5%.
Growing awareness on reducing the dependency on fossil fuel for polymer/plastic production is likely to drive the growth of the market for recyclable thermosets. The plastic recycling technology offers the possibility of lowering carbon emissions and reducing the amount of waste. It will help to avoid the accumulation of large amounts of plastics waste in natural environment and landfills.
Thermosets are a particular class of polymers that form well-defined, permanent, chemical networks that appear to expand in three-dimensional directions by means of a curing process, which can occur either by heating or by the addition of a curing agent. This cause a crosslinking formation between its chemical components, giving the thermoset a strong and rigid structure that can be added to other materials to increase strength.
However, one of the biggest constraints for thermoset resin is its non-recyclability, owing to the presence of a large number of cross-links in its structure. Thermoset waste can be either end-of-life waste or scrap production, and most polymers from thermosets end up as landfills. There has long been a pressing need for recyclability in thermoset plastics, considering the overarching aim of sustainability.
This research report categorizes the market for recyclable thermoset based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the Recyclable thermoset market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the Recyclable thermoset market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as type, route of administration and disease type of the Recyclable thermoset market.
On the basis of technology, the recyclable thermosets market is further segmented into mechanical recycling, feedstock recycling, and energy recovery. Mechanical recycling presently leads the market, led by high consumption in Asia-Pacific, which are the main market for thermoset composites.
Based on the thermoset type, global recyclable thermoset market is segregated into unsaturated polyester resins (UPR), epoxy resins, phenolic resins, polyurethane resins, and others. Epoxy resins are the most dominant segment of the market and are expected to drive during the forecast period.
Based on the end-user industry, the global recyclable thermoset market is classified into building & construction, transportation, wind energy, electricals & electronics, aerospace & defense, and others. Wind energy sector will register highest growth in the forecast period. Moreover, aerospace & defense industry expected to dominate the market demand in coming decade. The transportation sector accounts for considerable market growth with a CAGR of 3% in the period of COVID-19 till forecasted year, 2028. It would benefit from the development of lightweight vehicles that are useful for enhancing fuel efficiency and reducing carbon emissions. Introducing new vehicles by replacing metal parts with plastic components is a new industry trend that can create growth opportunities for recyclable thermosets. In automotive applications such as hoods, exterior trims, and panels can be used.
By region, this market has been segmented as North America, Asia Pacific, Middle East, Europe, and South America. Technical advancement, rising awareness regarding environmental protection, tax incentives and regulations has caused Europe region dominant in the recyclable thermoset market. In Asia, an increasing number of newly introduced larger commercial aircraft manufacturers are focusing on weight reduction to enhance fuel efficiency in aircraft, which can be achieved through the use of advanced polymer composites. Polymer composites, especially epoxy-based polymer composites, are used to manufacture aircraft components and parts such as rudders, landing gear, and engine nacelles. Thus, this can be efficiently achieved by use of thermoset recyclable products. Many manufacturing companies are adopting the parts in the aircraft made by recycled thermoset in this region.
Some of the major players in the market are Adesso Advanced Materials Inc, Aditya Birla Chemicals, Eco-Wolf Inc, Northstar Recycling, Intco Recycling, Mcr Mixt Composites Recyclables, Mallinda, Llc, Neocomp Gmbh, and Conenor. These companies have adopted product development, expansion, and merger strategies to consolidate their market position amid intense competition in the market.
By volume, the global recyclable thermoset market is estimated to be 203.48 kiloton in 2020 and anticipated to reach 264.10 kiloton in 2028 with a CAGR of 3.3% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be 251.72 kiloton in 2020 and 356.99 kiloton in 2028 with a CAGR of 4.5%.
Growing awareness on reducing the dependency on fossil fuel for polymer/plastic production is likely to drive the growth of the market for recyclable thermosets. The plastic recycling technology offers the possibility of lowering carbon emissions and reducing the amount of waste. It will help to avoid the accumulation of large amounts of plastics waste in natural environment and landfills.
Thermosets are a particular class of polymers that form well-defined, permanent, chemical networks that appear to expand in three-dimensional directions by means of a curing process, which can occur either by heating or by the addition of a curing agent. This cause a crosslinking formation between its chemical components, giving the thermoset a strong and rigid structure that can be added to other materials to increase strength.
However, one of the biggest constraints for thermoset resin is its non-recyclability, owing to the presence of a large number of cross-links in its structure. Thermoset waste can be either end-of-life waste or scrap production, and most polymers from thermosets end up as landfills. There has long been a pressing need for recyclability in thermoset plastics, considering the overarching aim of sustainability.
This research report categorizes the market for recyclable thermoset based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the Recyclable thermoset market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the Recyclable thermoset market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as type, route of administration and disease type of the Recyclable thermoset market.
On the basis of technology, the recyclable thermosets market is further segmented into mechanical recycling, feedstock recycling, and energy recovery. Mechanical recycling presently leads the market, led by high consumption in Asia-Pacific, which are the main market for thermoset composites.
Based on the thermoset type, global recyclable thermoset market is segregated into unsaturated polyester resins (UPR), epoxy resins, phenolic resins, polyurethane resins, and others. Epoxy resins are the most dominant segment of the market and are expected to drive during the forecast period.
Based on the end-user industry, the global recyclable thermoset market is classified into building & construction, transportation, wind energy, electricals & electronics, aerospace & defense, and others. Wind energy sector will register highest growth in the forecast period. Moreover, aerospace & defense industry expected to dominate the market demand in coming decade. The transportation sector accounts for considerable market growth with a CAGR of 3% in the period of COVID-19 till forecasted year, 2028. It would benefit from the development of lightweight vehicles that are useful for enhancing fuel efficiency and reducing carbon emissions. Introducing new vehicles by replacing metal parts with plastic components is a new industry trend that can create growth opportunities for recyclable thermosets. In automotive applications such as hoods, exterior trims, and panels can be used.
By region, this market has been segmented as North America, Asia Pacific, Middle East, Europe, and South America. Technical advancement, rising awareness regarding environmental protection, tax incentives and regulations has caused Europe region dominant in the recyclable thermoset market. In Asia, an increasing number of newly introduced larger commercial aircraft manufacturers are focusing on weight reduction to enhance fuel efficiency in aircraft, which can be achieved through the use of advanced polymer composites. Polymer composites, especially epoxy-based polymer composites, are used to manufacture aircraft components and parts such as rudders, landing gear, and engine nacelles. Thus, this can be efficiently achieved by use of thermoset recyclable products. Many manufacturing companies are adopting the parts in the aircraft made by recycled thermoset in this region.
Some of the major players in the market are Adesso Advanced Materials Inc, Aditya Birla Chemicals, Eco-Wolf Inc, Northstar Recycling, Intco Recycling, Mcr Mixt Composites Recyclables, Mallinda, Llc, Neocomp Gmbh, and Conenor. These companies have adopted product development, expansion, and merger strategies to consolidate their market position amid intense competition in the market.
WHAT THIS STUDY PROVIDES
- Global market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
- Recyclable thermoset market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
- Extensive details and analysis of contracts, projects, and programs
- Analysis of game-changing technological trends and how these will shape the industry
- Explanation or political, regulatory and technical factors to consider
- Barriers to entry analysis for markets around the world
- Profiles of leading companies operating within the sector with market share analysis
- SWOT analysis of the major strengths and weaknesses of the market, together with the opportunities available and the key threats faced
- Market conclusions & recommendations
KEY QUESTIONS ANSWERED BY THIS REPORT
- How the recyclable thermoset market is evolving?
- What is driving and restraining factors for global Recyclable thermoset market?
- How will each recyclable thermoset submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
- How will market shares of each Recyclable thermoset submarket develop from 2020-2028?
- Which recyclable thermoset submarket will be the main driver of the overall market from 2020-2028?
- How will political and regulatory factors influence regional recyclable thermoset markets and submarkets?
- Will leading national recyclable thermoset broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2017 and 2028?
Frequently Asked Questions about the Recyclable Thermoset Market
What is the estimated value of the Recyclable Thermoset Market?
What is the growth rate of the Recyclable Thermoset Market?
What is the forecasted size of the Recyclable Thermoset Market?
Who are the key companies in the Recyclable Thermoset Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 160 |
| Published | February 2021 |
| Forecast Period | 2017 - 2028 |
| Estimated Market Value ( USD | $ 356.7 Million |
| Forecasted Market Value ( USD | $ 427.74 Million |
| Compound Annual Growth Rate | 1.7% |
| Regions Covered | Global |
Table of Contents
1 Market Abstract
2 Market Introduction
3 Research Practice
4 Key Related Data
5 Impact Factor Analysis
6 Market Development Analysis
7 Recyclable Thermoset Market, by Technology
8 Recyclable Thermoset Market, by Thermoset Type
9 Recyclable Thermoset Market, by End-User Industry
10 Recyclable Thermoset Market, Regional Analysis
11 Company Profile
12 Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Aditya Birla Chemicals
- Northstar Recycling
- Mallinda LLC
- Eco-Wolf Inc.
- Intco Recycling
- Conenor Ltd
- Adesso Advanced Materials
- Mcr Mixt Composites Recyclables
- Neocomp Gmbh
