The global demand for Thermoset Composites Market is presumed to reach the market size of nearly USD 42.37 MN by 2028 from USD 28.18 MN in 2021 with a CAGR of 6% under the study period 2022 - 2028.
Thermoset composites are polymers manufactured from thermoset matrices with high strength but low impact toughness. Thermoset composites are formed from a thermoset matrix and reinforcing fibers together. Glass, carbon, or aramid fibers make up the thermoset composites. Aircraft and spacecraft parts, golf shafts, badminton rackets, bicycle frames, vehicle springs, sailboat masts, and automotive structural components are all made with these composites. Thermoset composites have excellent moisture resistance, are lightweight, and have excellent chemical resistance. Thermoset composites are chemically stable since they are constructed of a thermoplastic matrix. The thermoset composites may be remolded without degrading and solidify into a completed shape after cooling.
Market Dynamics
The increased use of thermoset composites in the fabrication of structural composite parts for passenger aircraft, commercial aircraft, helicopters, and other aircraft is driving demand for these materials. The aerospace industry's rapid use of thermoset composites – which are used in interior components and provide high strength, excellent physical characteristics, and stiffness-to-density ratios, is driving the market forward. The use of thermoset composites in transportation is expected to increase shortly, owing to the high demand for lightweight cars and the increasing demand for thermoset composites in the wind energy industry. End-use applications of thermoset composites in wind energy and solar panels are expected to develop, opening new market prospects.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of thermoset composites. The growth and trends of thermoset composites industry provide a holistic approach to this study.
Market Segmentation
This section of the thermoset composites market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By End-Use Industry
- Transportation
- Aerospace & Defense
- Sporting Goods
- Wind Energy
- Construction & Infrastructure
- Pipe & Tank
- Marine
- Electrical & Electronics
- Others
By Fiber Type
- Carbon Fiber
- Glass Fiber
- Other Fiber
By Manufacturing Process
- Lay-Up
- Filament Winding
- Resin Infusion
- Compression Molding
- Injection Molding
- Pultrusion
- Others
By Resin Type
- Polyester
- Epoxy
- Vinyl Ester
- Phenolic
- Polyurethane
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Thermoset Composites market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Thermoset Composites Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the thermoset composites market include Owens Corning (U.S.), Toray Industries, Inc. (Japan), Jushi Group (China), Hexcel Corporation (U.S.), Mitsubishi Rayon Co., Ltd. (Japan), Teijin Limited (Japan), and SGL Group (Germany). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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