High Performance Thermoset Resins Market (Product - Epoxy Resin, Polyester Resin, and Phenol Formaldehyde Resin; Application - Aerospace and Defense, Automotive, and Construction): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report ongoing study by Infinium Global Research on high performance thermoset resins market provides an in-depth analysis of segments and sub-segments in the global as well as regional high performance thermoset resins market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high performance thermoset resins market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global high performance thermoset resins market. According to the report, the global high performance thermoset resins market is projected to grow at a significant CAGR over the forecast period of 2021-2027.

Market Insight

The thermoset resins carry extensive properties such as high-heat resistance, dimensional stability, electrical insulation capability, and more; hence, they are widely used in various end-use applications. There are two vital substitutes for thermoset resins which are metals and thermoplastics. Yet thermoset resins deliver superior performance as compared to their reserves. 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 high performance thermoset resins market is anticipated to be driven by the factors such as the need for weight reduction in aerospace & transportation and the rise in demand for thermally stable & corrosion resistance components.

The primary factor fuelling the growth of the high-performance thermoset resins market is the growing demand for fuel-efficient vehicles across the world. Furthermore, the electronics industry is raising its request due to its various lightweight, dielectric, high-temperature resistance, and high-impact properties. Hence, this factor is expected to drive the market’s growth over the forecast period. Additionally, the factors like Rapid urbanization and the economic boom in emerging countries are also expected to propel the market’s growth over the forecast period. For instance, some of the countries of Asia Pacific have witnessed an economic boom and hence demand thermoset resins for use in construction composites. This factor is expected to contribute to the growth of the high-performance thermoset resins market over the forecast period. On the other hand, various environmental concerns and stringent regulations set for such environmental concerns can hamper the market’s growth in the coming years. This is because thermoset resins cannot be re-processed and recycled and can neither be decomposed naturally, harming the environment. Nevertheless, the high demand for lightweight vehicles in the automobile industry and the rising demand for lightweight yet strong parts in the aerospace industry are anticipated to provide lucrative growth opportunities.

Geographically, the global high performance thermoset resins market is segmented as North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific dominates the high performance thermoset resins market among these regions due to the increasing demand for thermoset resins from the aerospace industry. 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 is an enormous opportunity for players operating in India and the whole Asia Pacific region. Furthermore, the growing populations of countries like China & India are also projected to propel market growth over the area's forecast period. Additionally, as the people of the region are growing, the per capita income of the region is also rising. This factor is anticipated to substantially contribute to the growth of the high performance thermoset resins market in the Asia Pacific.

Segment Covered

The report on the global high performance thermoset 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.

Companies Profiled:

The report provides profiles of the companies in the market such as AEP Industries, Teijin Chemicals, DuPont Corporation, American Packaging Corporation, North American Pipe Corporation, The Dow Chemical Company, and Reliance Industries Ltd..

Report Highlights:

The report provides deep insights into 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 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 high performance thermoset resins market. Moreover, the study highlights current market trends and provides forecasts 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 insight into the market share of the leading players.