Uncategorized

Thermoset Molding Compound – Global Market Outlook (2023-2030)

According to the Global Thermoset Molding Compound market is estimated at $8356.56 million in 2016 and is expected to reach $13569.56 million by 2023 growing at a CAGR of 7.1% from 2016 to 2023. Need for weight reduction & safety in transportation & aerospace, cost-effective substitute for heavy metals and ease in production of complex shapes are some key factors fueling the market. Moreover, increasing demand for these compounds from emerging economies provides huge growth opportunity for the market. However, instability in crude oil prices and regulatory challenges are hampering the market growth.

By Resin Type, polyester resin segment has high demand due to its property of outstanding flexibility and growing application in automotive body panel. Polyester resin offers excellent resistance to a wide range of chemicals at room temperature such as gasoline, aliphatic hydrocarbons, alcohols, and glycols. Asia Pacific held the largest market share. Countries such as China and India have become manufacturing hubs for several end-use industries in the recent past. Further, fast growth in urbanization, rising disposable income and increase in industrialization has a positive impact on the market. In addition, China is the largest consumer and supplier of the material and is expected to dominate the market during the forecast period as well.

Some of the key players in the market include Saudi Basic Industries Corporation (SABIC), Rogers Corporation, Plastics Engineering Company (Plenco), Kyocera Chemical Corporation, Kolon Industries Inc., Jiangsu Tianxin Chemical Co., Ltd, Huntsman Corporation, Hitachi Chemical Company Ltd., Hexion Inc., Evonik Industries AG, Eastman Chemical Company, Cosmic Plastics Inc., Chang Chun Plastics Co. Ltd., BASF SE and Ashland Global Holding Inc.

End Users Covered:

Electrical & Electronics

Automotive

Aerospace

Other End Users

Resin Types Covered:

Polyester Resin

Melamine Formaldehyde Resin

Phenolic Resin

Urea Formaldehyde Resin

Epoxy Resin

Other Resin Types

Regions Covered:

North America

o US

o Canada

o Mexico

Europe

o Germany

o UK

o Italy

o France

o Spain

o Rest of Europe

Asia Pacific

o Japan

o China

o India

o Australia

o New Zealand

o Rest of Asia Pacific

South America

o Argentina

o Brazil

o Chile

o Rest of South America

Middle East & Africa

o Saudi Arabia

o UAE

o Qatar

o South Africa

o Rest of Middle East & Africa

What our report offers:

– Market share assessments for the regional and country level segments

– Market share analysis of the top industry players

– Strategic recommendations for the new entrants

– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets

– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

– Strategic recommendations in key business segments based on the market estimations

– Competitive landscaping mapping the key common trends

– Company profiling with detailed strategies, financials, and recent developments

– Supply chain trends mapping the latest technological advancements

Get a Sample PDF of the report –https://www.marketreportsworld.com/enquiry/request-sample/10710873

About Us: –

Market Reports World is the Credible Source for Gaining the Market Reports that will Provide you with the Lead Your Business Needs. Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages resulting in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors.

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