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Report Overview
The global thermosetting plastics market is expected to grow at a CAGR of 5.20% during the forecast period of 2025-2034.
2024
Base Year
2018-2024
Historical Period
2025-2034
Forecast Period
Favourable Physical and Chemical Properties of Thermoset Plastics are Boosting the Market Growth
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.
Rising Demand for Thermoset Plastics from the Construction Industry to Boost the Market Growth
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.
Thermosetting Plastics Market Report Snapshots
Thermosetting Plastics Market Size
Thermosetting Plastics Market Growth
Thermosetting Plastics Companies
*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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Key Questions Answered in the Report
The global thermosetting plastics market is projected to grow at a CAGR of 5.20% in the forecast period of 2025-2034.
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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