Lucintel Forecasts Thermoset Resin in the Global Composites Market to Reach $31.5 Billion by 2028

According to the recent study the Thermoset Resin in the Global Composites Market is projected to reach an estimated $31.5 billion by 2028 from $24.5 billion in 2022, at a CAGR of 4.3% from 2022 to 2028. Growth in this market is primarily driven by 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, opportunities and forecast in thermoset resin in the global composites market by end use (marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, consumers goods, and others), manufacturing process (hand lay-up/ spray up, resin infusion, filament winding, pultrusion, injection molding, compression molding, prepreg lay-up, and others), resin type (polyester, thermoset, epoxy, phenolic, polyurethane, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Construction market is expected to remain the largest segment during the forecast period.”

Based on end use, the thermoset resin in the global composites market is segmented into marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, consumers goods, and others. 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.

“Within the thermoset resin in the global composites market, the polyester segment is expected to remain the largest resin.”

Based on resin the polyester segment is expected to witness the highest growth over the forecast period because it offers performance benefits for different applications.

“Asia pacific will dominate the thermoset resin in the global composites market in near future.”

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growth in end use industries and increasing demand for lightweight materials.

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Major players of thermoset resin in the global composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF, Covestro, DuPont, Lanxess, Solvay are among the major thermoset resin in the global composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/thermoset-resin-in-the-global-composites-market.aspx or helpdesk@lucintel.com.

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