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The global thermosetting plastics market is expected to grow at a CAGR of 5.2% during the forecast period of 2024-2032.
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The global market for thermosetting plastics is being driven by the applications and uses of various types of thermosetting plastics in various end-use industries, owing to their favourable chemical and physical properties. Thermoset plastic polymers cross-link together when curing to form an irreversible chemical bond, thus becoming permanent in their structure. Thermoset plastics offer enhanced chemical resistance, heat resistance, and structural integrity and are in high demand for these favourable properties from end-user industries for complicated industrial applications such as manufacturing of electrical components, and automotive manufacturing, among others, thereby aiding the market growth.
In addition, thermoset injection moulding allows for a wide assortment of small and large parts; thus, detailed geometric shapes that cannot be achieved in metals can be produced in thermoset plastics. This is augmenting the overall market growth of thermosetting plastics by providing advantages over metals owing to their excellent physical properties and surface appearance.
Thermoset plastics are synthetic polymers that cannot be moulded or reshaped after their initial heat exposure. Thermosetting is the process of converting granular material into moulded shapes through a chemical reaction activated by heat and pressure, which thus forms a strong molecular bond.
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The market, on the basis of type, can be divided into:
On the basis of end-user industry, the market can be segmented into:
The EMR report looks into the regional markets of thermosetting plastics like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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The growth in the global market for thermosetting plastics can be attributed to the rising construction activities across the world. Owing to their excellent chemical properties like chemical and heat resistance, and high structural integrity, thermoset plastics are ideal components in the building structure. In addition, thermosetting plastics are generally used as adhesives and sealants, roofing, and piping due to their lightweight structure, hardness, and thermal and electric insolubility, thus invigorating market demand from the construction industry. Furthermore, epoxies and unsaturated polymers are widely demanded in the construction of bathroom fixations, pipes and tanks for their anti-corrosive properties, and other decorative furniture owing to excellent mechanical properties.
Moreover, the construction industry is flourishing in the Asia Pacific region, owing to rapid industrialisation and urbanisation in countries like India and China, due to which demand for thermosetting plastics is invigorating the overall growth of the industry. In addition, owing to favourable government policies like ‘Housing for All by 2022’ initiated by the Indian government due to the rising population levels, along with the emergence of commercial buildings like offices, and malls due to heightened foreign investments, are anticipated to robustly drive the market for thermosetting plastics in the Asia Pacific region over the forecast period.
The report presents a detailed analysis of the following key players in the global thermosetting plastics market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-User Industry |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Thermosetting Plastics Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global thermosetting plastics market is projected to grow at a CAGR of 5.2% in the forecast period of 2024-2032.
The industry for thermosetting plastics is being driven by favourable physical and chemical properties like chemical and heat resistance, high structural integrity, and durability, thus boosting the demand of the product for various industrial applications.
The global market for thermosetting plastics is being propelled by the heightened demand for epoxy and unsaturated polymers from the construction industry.
The major regional markets for thermosetting plastics are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The different types of thermosetting plastics are unsaturated polyesters, polyurethanes, phenolic, epoxy, amino, alkyd, and vinyl ester, among others.
The significant end-user industries of thermosetting plastics are construction, adhesive and sealants, electronics and appliances, and automotive, among others.
The major players in the industry are Covestro AG, Celanese Corporation, LANXESS AG, BASF SE, INEOS Group Holdings S.A., and Evonik Industries AG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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