Research study says global thermoset molding compound is anticipated to grow at a CAGR of 6.2% to reach $12,298 million by 2022, from $8,096 million in 2015, Ask for sample@ http://www.researchbeam.com/thermoset-molding-compounds-market/request-sample
Recent research added report on“Worldwide Thermoset Molding Compounds Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Thermoset Molding Compounds Market by Resin Type (Phenolic Resin, Epoxy Resin, Polyester Resin, Urea Formaldehyde Resin, Melamine Formaldehyde Resin, and Others), and by End user (Automotive, Aerospace, Electrical & Electronics, and Others) – Global Opportunity Analysis and Industry Forecast, 2014-2022”
Thermosetting molding compounds provide thermal resistance, dimensional stability, high flexural strength, electrical insulation, and capabilities to the thermosetting plastic parts makes them ideal for several applications. Its molecules are bonded via cross-linking process through irreversible chemical reaction under heat & pressure. These are generally stronger than thermoplastics due to the polymer cross-linking and are better suited for high temperature applications. Each type of thermosetting plastic has a unique set of properties and find their use in wide range of applications such as electrical & electronics, automobile bodies, and aerospace. The global thermoset molding compound is anticipated to grow at a CAGR of 6.2% to reach $12,298 million by 2022, from $8,096 million in 2015.
The global thermosetting molding compound market is in its growth stage. Asia-Pacific and Europe are the leading markets for thermoset resin compounds owing to the rapid growth in urbanization and rise in demand from electronic & automotive industries. It is the cost-effective substitute for heavy metals and the need for weight reduction & safety in transportation & aerospace, and rise in demand for thermally stable & corrosion resistant composites drive the market growth. However, fluctuating crude oil prices and regulatory challenges regarding hazardous waste are expected to hamper the market growth.
The report segments the thermoset molding compound market on the basis of resin type, end-user, and geography. Based on resin type, it is divided into phenolic, epoxy, polyester, urea formaldehyde, and melamine formaldehyde including other resins. On the basis of end-user, it is categorized into automotive, aerospace, electrical & electronics, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Recent development in the market include the development of new EPIKOTE epoxy resin system from Hexion Inc. This resin system has been specified by BMW Group, which can be used for volume production of structural composites parts in new BMW-7 series automobiles. Similarly, Evonik Corporation planned to reopen its specialty polyester production plant located in Mobile, Ala. The company is expected to complete construction of this facility by 2018.
Comprehensive competitive analysis and profiles of the major market players include:
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KEY MARKET BENEFITS:
KEY MARKET SEGMENTS:
By Resin Type
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