Thermosetting Plastics Market Growth and Sales forecast 2029

Thermosetting Plastics Market: Introduction

Thermosetting plastics are polymers which irreversibly become rigid when subjected to heat treatment. Thermosetting plastics are also referred to as thermosets or thermosetting polymers. Initially the material used to give rise to thermosetting plastic occurs as a liquid or a soft solid. When the substance is subjected to heat treatment, heat provides the necessary energy which gives rise to chemical reactions and thereby increases the cross-linking between polymer chains. This gives rise to a new material better known as thermosetting plastic.

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Thermosetting plastics possess greater strength in comparison to thermoplastics due to the three dimensional network of bonds visible in the chemical structure of the material. Another notable property possesses by thermosetting plastics is their applicability in high temperature applications up to decomposition temperature. This is because their shape as strong covalent bonds between polymer chains cannot be broken easily. Higher aromatic content and cross-link intensity of the thermosetting plastic will lend the thermosetting plastic higher resistance to heat degradation and chemical attack. Higher cross-link density of thermosetting plastic also improves their mechanical strength and hardness, but however they turn brittle and decompose before melting.

The limitation possessed by thermosetting plastics is that they can be melted and remolded after they are cured. This property of thermosetting plastics limits the ability of the material to be recycled. When thermosetting plastics are compounded with fibers, they form fiber-reinforced polymer composites. These products formed from compounding thermosetting plastic are used in the fabrication of factory-finished structural composites for original equipment manufacturers and replacement parts, composite repair, and protection materials.

Market Dynamics – Thermosetting Plastics Market:

With the increasing number of construction projects across the globe consisting of a high rate of residential and commercial projects in turn is expected to spur the demand of thermosetting plastics. This is due to the fact that requirement of adhesives and sealants, thermal insulating materials, roofing materials, pipes in each planned building. Moreover, thermosetting plastics also find application in the repair and rehabilitation of civil structures. One of the major restraints which is likely to have an adverse impact on the market for thermosetting plastics is its inability to be recycled and remolded into new products. In addition, the lack of labor and expertise required to fabricate products by making use of thermosetting plastics is also hindering the growth of the thermosetting plastics market.

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Thermosetting Plastics Market: Market Segmentation

The global thermosetting plastics market can be segmented on the basis of type, and end user industry.

On the basis of type, the global Thermosetting Plastics market is segmented into:

  • Alkyds
  • Epoxies
  • Amino
  • Polyurethane
  • Phenolic
  • Vinyl Ester Resin
  • Others

On the basis of end use industry, the market is segmented into,

  • Construction
  • Adhesives and Sealants
  • Electronics & Appliances
  • Automotive
  • Others

Thermosetting Plastics Market: Regional Outlook

With the increasing habitation, urbanization rate and increasing construction activity happening in the regions of North America, East Asia, and South Asia, the thermoplastics market is said to be benefited from the same. On the regional front, the Asia Pacific is expected to dominate the market during the forecast period. China and India are expected to lead the market for thermosetting plastics. In addition, Governmental efforts undertaken by ruling Governments in India and China to develop smart cities and develop modern infrastructure is likely to contribute significantly to the growth of the thermosetting plastics market. North America is expected to be the second most dominant market on account of a rise in the number of approvals granted for residential complexes and single family homes. Europe, Africa and Latin America are expected to showcase moderate growth of the thermosetting plastics market during the forecast period.

Thermosetting Plastics: Key Market Participants

Some of the key market participants in the global thermosetting plastics market are:

  • Arkema SA
  • Asahi Kasei Corporation
  • BASF SE
  • Celanese Corporation
  • Chevron Phillips Chemical Company L P
  • Daicel Corporation
  • Dow Chemicals
  • Eastman Chemical Company
  • Evonik Industries AG
  • Lanxess AG
  • LG Chem Ltd.
  • Lyondell Basell Industries
  • Mitsubishi Engineering Plastic Corporation
  • Polyplastic Co. Ltd.
  • Royal DSM NV
  • SABIC Innovative Plastics
  • Solvay Plastics

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