A recent report ongoing study by Infinium Global Research on GCC high performance thermostat resins market. provides in-depth analysis of segments and sub-segments in the GCC as well as regional GCC high performance thermostat resins market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional GCC 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 GCC high performance thermostat resins market. According to the report, the GCC high performance thermostat resins market is projected to grow at a significant CAGR over the forecast period of 2021-2027.
Various fields such as aerospace, electronic packing, automotive, and other high performance areas have extensively adopted high performance thermosets. For instance, polyimide, a type of special engineering plastic, is used in separation membrane, microelectronics, and other fields due to its excellent high thermal stability, mechanical properties, and dielectric properties. Furthermore, researchers are improving the material properties from the perspective of a molecular structure due to higher expectations for the performance of materials due to the development of industries and commerce. Moreover, due to the growing demand for high performance polymeric materials in the industry, several thermosets such as bismaleimides, advanced epoxy resins, cyanate esters, and phenolic resins have been widely investigated the performance of thermosetting products.
The prime factor driving the high performance thermostat resins market in GCC is rising demand from the automotive industry in the region. The automotive industry is demanding automotive thermoset resin composites on a colossal scale, especially in Saudi Arabia, to manufacture the interior, exterior, and other components. Furthermore, there is increasing automotive production in the GCC region, which is expected to drive the market's growth over the forecast period. Moreover, the automotive industry has a rising demand for lightweight and durable materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions in GCC countries. For manufacturing such light parts of the vehicle, the automobile industry demands high performance thermostat resins on a large scale. This rising demand is anticipated to help the growth of the high performance thermostat resins market in the coming years. Additionally, the development of rapid cure resin systems, the emergence of bio-based thermosets, and the increasing use of Fire, Smoke, and Toxic (FST) resin are some considerable factors driving the high performance thermostat resins market in the GCC region. However, a hazardous impact on health is expected to hinder the development of the market in the GCC region. Nevertheless, the growing construction industry in the GCC region with rising disposable income is projected to provide ample growth opportunities to the market.
Geographically, Saudi Arabia dominates the high performance thermostat resins market in the GCC region. Earlier, market openness and investment opportunities were less in Saudi Arabia when compared to other emerging economies. However, the government of Saudi Arabia is reforming its economic plans with investments in diversified sectors and is trying to attract private investments in the country to make it a diversified economy that is not dependent on oil. All these factors are mentioned in the country’s 10th development plan. Furthermore, Saudi Arabian government has announced its largest financial budget ever to support the country’s expansion as part of its Vision 2030 program. Additionally, Saudi Arabia is among the leading producers of paints and coatings in the GCC region, and there are several local paint manufacturers currently present in the country. Moreover, Saudi Arabia focuses on automotive, minerals/metal, chemical/polymer, energy, and pharmaceutical/biotech. In addition, Saudi Arabia’s vision 2030 seeks a 70% increase in manufacturing capacity in the region by 2030. Hence, adhesives and sealants stakeholders in the OEM transportation sector are likely to benefit from these developments. These developments are expected to contribute to the increase in demand for thermostat resins.
The report on GCC high performance thermostat resins market covers segments such as product, and application. On the basis of product, the sub-markets include epoxy resin, polyester resin, and phenol formaldehyde 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 Owens Corning, Toray Industries Inc., Jushi Group Co. Ltd, Teijin Limited, Chongqing Polycomp International Corporation., SGL Group, and PPG Industries Inc..
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 GCC 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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