Thermoset Composites Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thermoset Composites Market Analysis
The global thermoset composites market is expected to grow at with a CAGR greater than 6% during the forecast period. One of the major factors driving the market is the increasing demand from aerospace industry. However, high cost of thermoset composites is hindering the growth of the market studied.
- Aerospace Industry accounts for the highest market share and is expected to continue dominating during the forecast period.
- Increasing Investments in the wind energy sector is likely to provide a major growth opportunity for the market studied in the coming years.
- Asia-Pacific accounts for the highest market share and is expected to continue dominating during the forecast period.
Thermoset Composites Market Trends
This section covers the major market trends shaping the Thermoset Composites Market according to our research experts:
Aerospace & Defense Industry to Dominate the Market
- There has been a rapid growth in the usage of thermoset composites from the aerospace & defense sector, owing to its requirement in interior components, offering high strength, superior physical properties, and stiffness-to-density ratios.
- Such composites help in the reduction of airframe weight enabling better fuel economy, thereby lowering the overall operational costs.
- Additionally, the increasing R&D and investments in the aerospace sector are expected to boost the demand for thermoset composites.
- The growing manufacturing of aircrafts in countries like United States and Canada is driving the application of thermoset composites in aerospace industry.
- Hence, owing to the above-mentioned factors, the aerospace industry is expected to dominate the market studied during the forecast period.
Asia-pacific to Dominate the Market
- Asia-Pacific is expected to dominate the global thermoset composites market with the maximum share during the forecast period. This is majorly because of the increasing usage in electronics, and construction sector of the emerging economies in the region, including India, China, and ASEAN Countries.
- China is expected to have the largest market in the region due to increasing investments in the electronics sector. Additionally, increasing infrastructural investments in the region are also likely to boost the demand for thermoset composites.
- Additionally, the India construction industry is also witnessing significant growth in the recent past which is likely to boost the demand for thermoset composites in the country.
- Hence, Asia-Pacific is expected to dominate the thermoset composites market due to these factors, over the forecast period.
Thermoset Composites Industry Overview
The thermoset composites market is moderately fragmented as the market share is divided between many players. Key players in the market include Hexcel Corporation, JEC Group, TEIJIN LMITED, Johns Manville, and Huntsman International LLC, among others.
Thermoset Composites Market Leaders
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Hexcel Corporation
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Huntsman International LLC
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JEC Group
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TEIJIN LIMITED.
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Johns Manville.
*Disclaimer: Major Players sorted in no particular order
Thermoset Composites Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Preference of Thermoset Composites from Wind Energy
- 4.1.2 Rapidly Increasing Demand from Aerospace Industry
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Challenges Faced During Recycling and Remoulding
- 4.2.2 Other Restraints
- 4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Fiber Type
- 5.1.1 Carbon Fiber
- 5.1.2 Glass Fiber
- 5.1.3 Others
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5.2 Resin Type
- 5.2.1 Epoxy Resin
- 5.2.2 Phenolic Resin
- 5.2.3 Polyester Resin
- 5.2.4 Polyurethane Resin
- 5.2.5 Vinyl Ester Resin
- 5.2.6 Others
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5.3 End-user Industry
- 5.3.1 Aerospace & Defense
- 5.3.2 Automotive
- 5.3.3 Construction & Infrastructure
- 5.3.4 Electrical & Electronics
- 5.3.5 Marine
- 5.3.6 Pipes & Tanks
- 5.3.7 Transportation
- 5.3.8 Wind Energy
- 5.3.9 Others
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 ASEAN Countries
- 5.4.1.6 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East & Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Accurate Plastics Inc.
- 6.4.2 Advanced Composite Structures Australia Pty Ltd.
- 6.4.3 C2 Composites
- 6.4.4 Connora Technologies
- 6.4.5 PolyOne Corporation
- 6.4.6 Hexcel Corporation
- 6.4.7 Huntsman International LLC
- 6.4.8 JEC Group
- 6.4.9 Johns Manville Corporation
- 6.4.10 Lingol Corporation
- 6.4.11 Mar-Bal, Inc.
- 6.4.12 Owens Corning
- 6.4.13 PPG Industries Inc.
- 6.4.14 SGL Group
- 6.4.15 Teijin Limited
- 6.4.16 TenCate Advanced Composites
- 6.4.17 Toray Industries Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Investments in Wind Energy Sector
Thermoset Composites Industry Segmentation
The Gobal Thermoset Composites market report include:
| Fiber Type | Carbon Fiber | |
| Glass Fiber | ||
| Others | ||
| Resin Type | Epoxy Resin | |
| Phenolic Resin | ||
| Polyester Resin | ||
| Polyurethane Resin | ||
| Vinyl Ester Resin | ||
| Others | ||
| End-user Industry | Aerospace & Defense | |
| Automotive | ||
| Construction & Infrastructure | ||
| Electrical & Electronics | ||
| Marine | ||
| Pipes & Tanks | ||
| Transportation | ||
| Wind Energy | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East & Africa |
Thermoset Composites Market Research FAQs
What is the current Thermoset Composites Market size?
The Thermoset Composites Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Thermoset Composites Market?
Hexcel Corporation , Huntsman International LLC, JEC Group , TEIJIN LIMITED. and Johns Manville. are the major companies operating in the Thermoset Composites Market.
Which is the fastest growing region in Thermoset Composites Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Thermoset Composites Market?
In 2024, the Asia Pacific accounts for the largest market share in Thermoset Composites Market.
What years does this Thermoset Composites Market cover?
The report covers the Thermoset Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thermoset Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thermoset Composites Industry Report
Statistics for the 2024 Thermoset Composites market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Thermoset Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
