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Monday, January 10, 2022

Global Thermosetting Plastics Market to be Driven by the Increasing Construction Activities in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Thermosetting Plastics Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global thermosetting plastics market, assessing the market based on its segments like type, end user industry and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Forecast CAGR (2021-2026): 2%

The market for thermosetting plastics is growing due to their favourable chemical and physical properties, as well as the numerous applications and uses of thermosetting polymers in various end-use sectors. When thermoset plastic polymers set, they crosslink, forming an irreversible chemical bond and a permanent structure. Thermoset plastics offer improved chemical resistance, heat resistance, and structural integrity, and are in high demand from end-user industries for these benefits in complex industrial applications like electrical component manufacturing and automotive manufacturing, among others, fuelling market growth.

Industry Definition and Major Segments

Thermoset plastics are synthetic polymers that cannot be reformed or moulded after being exposed to heat. Thermosetting is the process of transforming granular material into moulded shapes by activating a chemical reaction with heat and pressure, thus creating a strong molecular bond.

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Based on type, the market is divided into:

  • Unsaturated Polyesters
  • Polyurethanes
  • Phenolic
  • Epoxy
  • Amino
  • Vinyl Ester
  • Others

On the basis of end use industry, the market can be segmented into:

  • Construction
  • Adhesives and Sealants
  • Electronics and Appliances
  • Automotive
  • Others

The regional markets include:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East
  • Africa

Market Trends

Construction activity is expanding around the world, which is driving the worldwide thermosetting plastics market. Chemical properties such as chemical and heat resistance, as well as strong structural integrity, make thermoset plastics excellent building construction components. Furthermore, thermosetting plastics are often used as adhesives and sealants, roofs, and pipes, boosting market demand from the construction industry, due to their lightweight structure, hardness, and thermal and electric insolubility. Epoxies and unsaturated polymers are also extensively employed in the construction of bathroom fixtures, pipes and tanks, and other aesthetic furnishings due to their exceptional mechanical properties. Furthermore, government incentive policies such as the Indian government's 'Housing for All by 2022' initiative, as well as the infrastructure development of commercial buildings such as offices and malls as a result of increased foreign investment, are expected to drive thermosetting plastics market growth in the forecast period.

Latest News on Thermosetting Plastics Market:

Key Market Players

The major players in the market are Covestro AG, Celanese Corporation, LANXESS AG, BASF SE, INEOS Group Holdings S.A., Evonik Industries AG and Others.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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