Thermoset Molding Compounds - Global Strategic Business Report

The global market for Thermoset Molding Compounds was valued at US$12.0 Billion in 2024 and is projected to reach US$16.2 Billion by 2030, growing at a CAGR of 5.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Thermoset Molding Compounds market.

Global Thermoset Molding Compounds Market - Key Trends & Drivers Summarized

What Makes Thermoset Molding Compounds So Crucial in Industrial Manufacturing?

Thermoset molding compounds have carved out a significant role across a wide spectrum of manufacturing sectors due to their exceptional heat resistance, dimensional stability, and superior mechanical strength. Composed of resins such as phenolic, epoxy, polyester, silicone, and melamine, these compounds undergo an irreversible curing process when subjected to heat and pressure, making them ideal for high-performance applications. The automotive industry, for instance, extensively utilizes these materials in under-the-hood components, brake system parts, ignition systems, and electric motor casings, capitalizing on their high temperature and chemical resistance. Similarly, the electrical and electronics sector demands these compounds for applications in circuit breakers, insulators, switches, and connectors where insulation performance and flame retardance are non-negotiable.

Their ability to be precisely molded into complex shapes with tight tolerances, without warping under stress, positions thermoset compounds as indispensable in high-precision and high-reliability environments. These materials also exhibit excellent resistance to moisture and corrosion, a vital attribute for use in marine applications, HVAC components, and heavy-duty industrial machinery. Aerospace and defense sectors are leveraging advanced epoxy and BMI-based compounds for their structural components, not only to reduce weight but also to improve resistance against fatigue and stress-cracking under extreme conditions. The use of bio-based thermoset resins is beginning to emerge in certain applications, signaling a gradual shift toward sustainability in a traditionally petrochemical-dominated landscape.

How Are Technological Innovations Shaping Material Science for These Compounds?

Cutting-edge developments in polymer chemistry and process optimization are rapidly transforming the thermoset molding compounds market. One key advancement is the evolution of hybrid thermoset systems, which combine different resins to enhance targeted properties such as toughness, thermal endurance, or electrical insulation. This is particularly valuable in automotive electrification, where materials must perform reliably under high voltage and temperature extremes. Innovations in filler technologies, including nano-silica, carbon nanotubes, and aramid fibers, are improving the mechanical and thermal performance of thermoset compounds without significantly increasing weight - crucial for fuel efficiency and emissions targets.

Equally transformative is the adoption of advanced molding technologies such as high-pressure compression molding, resin transfer molding (RTM), and automated liquid molding systems. These methods allow for faster production cycles, lower material wastage, and superior quality finishes. Enhanced computer-aided engineering (CAE) tools and predictive simulation software have also enabled manufacturers to fine-tune mold designs and curing cycles, resulting in consistent and defect-free outputs. Moreover, process digitization and real-time quality monitoring are playing a growing role in scaling production while maintaining rigorous performance benchmarks. These technological shifts are particularly pivotal in industries like e-mobility and renewable energy infrastructure, where the need for thermally stable and mechanically resilient materials continues to rise.

Is Demand Diversifying Across Newer End-Use Sectors?

The demand base for thermoset molding compounds is diversifying far beyond traditional segments like automotive and electronics. One emerging area is the electric vehicle (EV) sector, where the need for lightweight, heat-resistant, and non-conductive materials is critical for battery management systems, inverters, and motor housings. Thermoset compounds, particularly those based on phenolics and epoxies, are being chosen for these roles due to their ability to maintain structural integrity under intense thermal and electrical loads. Another growth area is the wind energy industry, which increasingly relies on high-performance epoxy-based compounds for turbine blades, nacelles, and hub structures. These materials offer the necessary combination of strength, fatigue resistance, and environmental durability.

In construction and infrastructure, thermoset materials are being employed for composite rebar, architectural facades, and flame-retardant panels. The rise of prefabricated modular buildings, requiring robust and dimensionally stable components, is also driving new applications. The medical device industry is beginning to use thermoset plastics in diagnostic equipment housings, surgical instruments, and radiation shielding components, thanks to their sterilizability and biocompatibility. Meanwhile, consumer electronics manufacturers are leveraging ultra-thin thermoset casings for smartphones, tablets, and wearable tech to balance aesthetic sleekness with structural safety. The growing integration of 5G and IoT devices further amplifies the need for precise, heat-dissipative materials - an area where thermoset molding compounds provide a critical performance edge.

The Growth in the Thermoset Molding Compounds Market Is Driven by Several Factors…

The primary drivers behind the growth of the thermoset molding compounds market stem from evolving technology standards, the rise of advanced electrical infrastructure, and stringent regulatory demands across industries. One of the most impactful drivers is the proliferation of electric vehicles and the supporting infrastructure. As OEMs shift toward lightweight and fire-retardant components, thermoset compounds - especially epoxy and phenolic-based - are increasingly replacing metal and thermoplastic parts in battery enclosures, power electronics, and under-the-hood applications. Concurrently, the expansion of 5G telecom infrastructure is generating robust demand for dimensionally stable, weather-resistant components used in base stations and antennas, many of which rely on high-performance thermoset composites.

Moreover, regulatory standards mandating flame retardance, low smoke emission, and long-term durability are driving industries such as aerospace, rail, and public infrastructure to adopt thermoset materials over alternatives. In the renewable energy sector, the scaling of wind and solar projects is boosting the demand for large-scale, corrosion-resistant components made from thermoset compounds. The trend toward miniaturization in electronics and the integration of microelectromechanical systems (MEMS) also necessitate materials with excellent dielectric properties and low shrinkage, placing thermosets at the center of design strategies. Furthermore, regional industrialization in Asia-Pacific and Latin America, especially in automotive and electronics manufacturing, is creating sustained demand for localized thermoset compound production, often tailored to meet specific performance and environmental standards.

Report Scope

The report analyzes the Thermoset Molding Compounds market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments: Type (Phenolic Resin, Epoxy Resin, Polyester Resin, Urea Formaldehyde, Melamine Formaldehyde, Other Types); End-Use (Automotive, Aerospace, Electrical & Electronics, Other End-Uses).

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Phenolic Resin segment, which is expected to reach US$4.1 Billion by 2030 with a CAGR of a 6.5%. The Epoxy Resin segment is also set to grow at 3.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $3.3 Billion in 2024, and China, forecasted to grow at an impressive 8.3% CAGR to reach $3.3 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 Molding Compounds 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 Molding Compounds 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 Molding Compounds 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 2024 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 players such as Avient Corporation, BASF SE, Chang Chun Plastics Co., Ltd., Chemiplastica SpA, Core Molding Technologies, Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 41 companies featured in this Thermoset Molding Compounds market report include:

• Avient Corporation
• BASF SE
• Chang Chun Plastics Co., Ltd.
• Chemiplastica SpA
• Core Molding Technologies, Inc.
• Cosmic Plastics Inc.
• Eastman Chemical Company
• Evonik Industries AG
• Georgia-Pacific Chemicals LLC
• Hexion Inc.
• Hitachi Chemical Co., Ltd.
• Huntsman Corporation
• IDI Composites International
• Jiangsu Tianxin Chemical Co., Ltd.
• Kolon Industries Inc.
• Kyocera Chemical Corporation
• MCM Composites, LLC
• Mitsui Chemicals, Inc.
• Nan Ya Plastics Corporation
• Norplex-Micarta
• Plastics Engineering Company (Plenco)
• Rogers Corporation
• SBHPP (Sumitomo Bakelite High Performance Plastics)

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What's Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry