According to a new market report published by
Lucintel, the future of thermoset resin in the global composites industry looks
good with opportunities in pipe and tank, construction, electrical/electronics,
wind energy, marine, transportation, aerospace/defense, and consumer goods
industries. The thermoset resin market in the global composites industry is expected to reach an estimated $13.8 billion by 2021 and it is forecast to grow at a
CAGR of 4.4% by value from 2016 to 2021. The major drivers for market growth
are the increasing demand for lightweight materials, and performance benefits
of reinforced composites over rival materials.
In this
market, pipe and tank, construction,
electrical/electronics, wind energy, marine, transportation, aerospace/defense,
and consumer goods are the major
end use industries. On the basis of its comprehensive research, Lucintel
forecasts that the aerospace/defense, transportation, and construction segments
are expected to show above average growth during the forecast period.
Within the thermoset resin market in the
global composites industry, pipe and tank is expected to remain the largest
segment by value and construction by 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.
By resin type, polyester is expected to remain
the largest segment due to its lower-cost and ability to meet many of the
application requirements in the composites industry. By process, hand lay-up/Spray up is expected
to remain the largest segment for thermoset resin demand in composites
application as it is the most common method for composite part fabrication with
low tooling and capital cost.
Asia Pacific is expected to remain the largest
market and witness the highest
growth rate during the forecast period due to the anticipated growth in the end user industries and increasing
demand for lightweight materials.
For business expansion, Lucintel’s report
suggests innovation to achieve higher strength, lower environmental impact,
fast curing, and ease of processing. Emerging trends, which have a
direct impact on the dynamics of the industry, include development of rapid cure resin systems, emergence of bio
based thermosets, and increasing use of Fire, Smoke, and Toxic (FST) resin. Ashland,
DSM, Reichhold, Huntsman, BASF SE, Polynt, AOC, Dow Chemicals, Olin Epoxy,
Bayer, and Momentive are among the major suppliers of thermoset resin in the
global composites industry.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the thermoset resin market in the global composites
industry by end use industry, process, resin, and region, and has complied a comprehensive
research report entitled “Growth
Opportunities for Thermoset Resin in the Global Composites Industry 2016-2021:
Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard
for growth strategy, as it provides a comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast for the growth
opportunities in the thermoset resin market in the global composites industry by end use industry, process, resin, and region, as
follows:
By end use industry [Volume (M lbs) and Value
($ Million) from 2010 to 2021]:
- Pipe and Tank
- Construction
- Electrical/Electronics
- Wind Energy
- Transportation
- Marine
- Consumer Goods
- Aerospace/Defense
- Others
By process
[Volume (M lbs) from 2010 to 2021]:
- Hand Lay-Up/Spray Up
- Filament Winding
- Injection molding
- Compression molding
- Prepreg Lay-Up
- Resin Infusion
- Pultrusion
- Others
By resin
[Volume (M lbs) and Value ($ Million) from
2010 to 2021]:
- Polyester
- Epoxy
- Vinyl Ester
- Phenolic
- Polyurethane
- Others
By region
[Volume (M lbs) and Value ($ Million) from
2010 to 2021]:
- North America
- Europe
- Asia Pacific
- Rest of the World
This
164-page 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
helpdesk@lucintel.com. Lucintel
offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report addresses the following key
questions:
Q. 1. What are
some of the most promising, high-growth opportunities for thermoset resin in
the global composites industry by end use industry (pipe and tank,
construction, electrical/electronics, wind energy, transportation, marine,
consumer goods, aerospace/defense, and others), process (hand lay-up/spray up,
filament winding, injection molding, compression molding, prepreg lay-up, resin
infusion, pultrusion, and others), resin (polyester, epoxy, vinyl ester,
phenolic, polyurethane, and others), and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q. 2. Which products
segments will grow at a faster pace and why?
Q. 3. Which
region will grow at a faster pace and why?
Q.4. What are
the key factors affecting market dynamics? What are the drivers, challenges,
and business risks in this market?
Q.5. What are
the business risks and competitive threats in this market?
Q.6. What are
emerging trends in this market and reasons behind them?
Q.7. What
are some of the changing demands of customers in the market?
Q.8. What
are the new developments in the market and which companies are leading these developments?
Q.9. Who
are the major players in this market? What strategic initiatives are being
taken by key companies for business growth?
Q.10. What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
product substitution?
Q. 11. What M&A activity has occurred in
the last 5 years?
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