According to a market report by Lucintel, the future of the global thermoset resin in the global composites market looks promising with opportunities in the attractive with opportunities in various end use industries, including marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, and consumers goods. The global thermoset resin in the global composites market is expected to reach an estimated $23 billion by 2031 from $16.8 billion in 2024, at a CAGR of 4% from 2024 to 2030. The major drivers for this market are the increasing demand for lightweight materials, and performance benefits of reinforced composites over rival materials.Browse 138 figures / charts and 97 tables in this 224 -page report to understand trends, opportunity and forecast in thermoset resin in the global composites market to 2030 by end use (marine, pipe and tank, construction, transportation, wind energy, etc), manufacturing process (hand lay-up/ spray up, resin infusion, filament winding, pultrusion, etc), resin type (polyester, thermoset, epoxy, phenolic, polyurethane, etc), and regions.
Lucintel forecasts that construction is expected to remain the largest segment by both value and volume. Expected growth in the infrastructure development, rehabilitation of old infrastructures, and capital investment in industrial development are the major driving forces that spur growth for these segments over the forecast period. Aerospace & defense is expected to witness highest growth over the forecast period.
Polyester resin will remain the largest segment by value and volume over the forecast period because it offers performance benefits for different applications and also expected to witness the highest growth over the forecast period.
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Asia Pacific is expected to remain the largest region and it is also expected to witness highest growth over the forecast period due to growth in end uses and increasing demand for lightweight materials.
INEOS Composites, BASF, Covestro, Huntsman Corporation, Polynt Group, AOC, Swancor Ind. Co., Ltd., Hexion Inc., Resonac, Sino Polymer Co., Ltd., Scott Bader Co. Ltd., Allnex are the major suppliers in the thermoset resin in the global composites market.
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Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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