A recent report ongoing by Infinium Global Research on high performance thermostat resins market provides in-depth analysis of segments and sub-segments in the BRICS as well as the regional high performance thermostat resins market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional high performance thermostat resins market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the BRICS high performance thermostat resins market. According to the report, the BRICS high performance thermostat resins market is projected to grow at a significant CAGR over the forecast period of 2021-2027.
The thermoset resins carry an extensive set of properties such as high-heat resistance, dimensional stability, electrical insulation capability, and more, hence they are being widely used in various end-use applications. There is two strong substitutes for thermoset resins which are metals and thermoplastics. Yet thermoset resins deliver superior performance as compared to their substitutes. Furthermore, thermoset resins are generally stronger than thermoplastics due to the polymer cross-linking and they are better suited for high-temperature applications. Moreover, the growth of the BRICS high performance thermostat resins market is anticipated to be driven by the factors such as the need for weight reduction in aerospace & transportation and a rise in demand for thermally stable & corrosion resistance components.
The primary factor which is driving the growth of the BRICS high performance thermostat resins market is the increasing use of high performance thermoset Resins in Automotive, Construction, Consumer Goods, and other industries in BRICS nations. The countries like India and China are the major contributor to the growth of the market owing to their strong Automotive, Construction, and Consumer Goods industry. Furthermore, the rising demand for lightweight vehicles has generated a higher demand for high performance thermostat resins in BRICS nations. Additionally, countries like China maintains a high speed of growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption, and capital investment for over two decades. Hence the growing economy of China is expected to propel the market’s growth over forecast period. In addition, there is increasing demand for thermoset resins from aerospace industries in BRICS nations. For instance, according to a report published by Boing India, Boing India is expected to drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years. This stands as the biggest opportunity for players operating in India as well as in the whole Asia Pacific region. Moreover, the growing population with the rising disposable income of BRICS nations is anticipated to provide lucrative growth opportunities to the market. On the other hand, some environmental parameters and stringent rules and regulations set by the governments of BRICS countries can hamper the market’s growth over forecast period.
Geographically, India can lead the BRICS high performance thermostat resins market over forecast period owing to the strong growth of the construction industry in the country. The construction industry is the second-largest industry in India, with a GDP contribution of about 9% of the country. Furthermore, there is high demand for thermostat resins for paints and coatings in the country. Epoxy resins are used as binders for coating applications to enhance the durability of coating for floor and metal applications hence the demand for thermostat resins is rising in the nation. Moreover, the presence of strong players in the market in the country is also expected to contribute to the growth of high performance thermostat resins market in India.
The report on BRICS high performance thermostat resins market covers segments such as product and application. On the basis of product, the sub-markets include polyester resin, phenol-formaldehyde resin, and epoxy resin. On the basis of application, the sub-markets include aerospace and defense, automotive, and construction.
The report provides profiles of the companies in the market such as 3M Company, Covestro AG, Hexion, Huntsman International LLC, and Olin Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the BRICS high performance thermostat resins market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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