열경화성 성형 재료 시장-유형별, 최종 용도별 : 기회 분석 및 산업 예측(2024-2033년)

The global thermoset molding compound market size was valued at $11.7 billion in 2023, and is projected to reach $21.5 billion by 2033, growing at a CAGR of 6.3% from 2024 to 2033.

Thermoset molding compounds refer to a class of materials used in manufacturing processes where heat and pressure are applied to shape and form a solid product. These materials undergo a chemical reaction during molding that irreversibly cures them into a hardened state. Thermoset molding compounds include epoxy resins, phenolic resins, and polyester resins, each chosen for specific mechanical, thermal, or electrical properties required for the end application. Thermoset molding compounds are used in industries such as automotive, aerospace, electronics, and construction due to their durability, heat resistance, and dimensional stability.

The trend towards electric vehicles (EVs), renewable energy systems, and smart technologies has further boosted the demand for thermoset molding compounds in electrical and electronic applications. As these industries continue to grow, there is an increase in the need for advanced materials that deliver high performance, reliability, and longevity under demanding operating conditions. All these factors are expected to drive the demand for thermoset molding compound market during the forecast period.

The production of thermoset molding compounds requires stringent adherence to environmental and safety regulations, necessitating investments in compliance measures and waste management systems. This compliance cost is substantial and varies across different regions, influencing where manufacturers choose to establish their production facilities. In addition, the high initial costs impact smaller manufacturers and startups disproportionately, limiting their ability to enter the market or expand operations. This barrier to entry restricts competition and innovation within the industry, slowing overall market growth and technological advancement.

Advancements in recycling technologies are enabling the reprocessing of thermoset molding compounds, albeit to a limited extent compared to thermoplastics. Techniques such as grinding, pyrolysis, or chemical recycling are being explored to recover valuable components or convert cured thermoset materials into secondary products, reducing waste and landfill burdens. Moreover, regulatory frameworks and consumer preferences increasingly favor sustainable and environmentally responsible products. Companies investing in research and development to enhance the sustainability credentials of their thermoset molding compounds gain competitive advantages and meet evolving market demands for greener alternatives. All these factors are anticipated to offer new growth opportunities for the thermoset molding compound market during the forecast period.

The thermoset molding compound market is segmented into type, end-use, and region. On the basis of type, the market is divided into phenolic resin, epoxy resin, polyester resin, urea formaldehyde, melamine formaldehyde, and others. By end-use, the market is segmented into automotive, aerospace, electrical and electronics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

On the basis of type, the market is divided into phenolic resin, epoxy resin, polyester resin, urea formaldehyde, melamine formaldehyde, and others. The phenolic resin segment accounted for more than one-third of the thermoset molding compound market share in 2023 and is expected to maintain its dominance during the forecast period. Cost-effectiveness is a crucial factor contributing to the adaption of phenolic resins in thermoset molding compounds. Compared to other high-performance resins, phenolic resins offer a balance of cost and performance that is attractive to manufacturers. Their relatively low cost of production, coupled with their robust performance attributes, allows for the production of economically viable and high-quality components. This cost advantage, along with their durability and performance, makes phenolic resins a competitive option in the market.

By end-use, the market is segmented into automotive, aerospace, electrical and electronics, and others. The electrical and electronics segment accounted for less than half of the thermoset molding compound market share in 2023 and is expected to maintain its dominance during the forecast period. The rise of advanced technologies such as 5G, electric vehicles (EVs), and smart devices is also propelling the demand for thermoset molding compounds. These technologies require components that withstand high temperatures, resist chemical exposure, and provide long-term reliability. Thermoset materials are well-suited for these demanding applications due to their thermal stability, chemical resistance, and durability. For instance, in electric vehicles, thermoset compounds are used in motor components, battery casings, and power electronics, where their high performance contributes to the overall efficiency and safety of the vehicle.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific accounted for less than half of the thermoset molding compound market share in 2023 and is expected to maintain its dominance during the forecast period. Rapid urbanization and infrastructure development across Asia-Pacific countries are fueling demand for thermoset molding compounds. These materials are crucial in construction applications for manufacturing durable components such as electrical insulators, pipes, and structural parts that withstand harsh environmental conditions. Furthermore, increases in investments in renewable energy infrastructure such as wind turbines and solar panels are boosting the demand for thermoset materials.

Key players in the thermoset molding compound market include BASF SE, Rebling, SBHPP, Huntsman Corporation, Kyocera Corporation, Evonik Industries AG, Kolon Industries Inc., Plastics Engineering Company (PLENCO), HEXION INC., and Eastman Chemical Company.

Key findings of the study

• On the basis of type, the melamine formaldehyde segment is anticipated to grow at the fastest CAGR of 7.4% during the forecast period.
• On the basis of end-use, the aerospace segment is anticipated to grow at the fastest CAGR of 7.5% during the forecast period.
• Region-wise, Asia-Pacific has the highest share in 2022 in terms of revenue.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the thermoset molding compound market analysis from 2023 to 2033 to identify the prevailing thermoset molding compound market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the thermoset molding compound market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global thermoset molding compound market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:

• Quarterly Update and* (only available with a corporate license, on listed price)
• 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
• Free Upcoming Version on the Purchase of Five and Enterprise User License.
• 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
• 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
• Free data Pack on the Five and Enterprise User License. (Excel version of the report)
• Free Updated report if the report is 6-12 months old or older.
• 24-hour priority response*
• Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

• Analysis of raw material in a product (by %)
• Investment Opportunities
• Product Benchmarking / Product specification and applications
• Supply Chain Analysis & Vendor Margins
• Upcoming/New Entrant by Regions
• Technology Trend Analysis
• Go To Market Strategy
• Market share analysis of players by products/segments
• New Product Development/ Product Matrix of Key Players
• Regulatory Guidelines
• Additional company profiles with specific to client's interest
• Additional country or region analysis- market size and forecast
• Criss-cross segment analysis- market size and forecast
• Expanded list for Company Profiles
• Historic market data
• Key player details (including location, contact details, supplier/vendor network etc. in excel format)
• List of customers/consumers/raw material suppliers- value chain analysis
• SWOT Analysis
• Volume Market Size and Forecast

Key Market Segments

By Type

• Phenolic Resin
• Epoxy Resin
• Polyester Resin
• Urea Formaldehyde
• Melamine Formaldehyde
• Others

By End-Use

• Automotive
• Aerospace
• Electrical and Electronics
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • South Africa
  • Rest of LAMEA

Key Market Players:

• BASF SE
• Eastman Chemical Company
• Evonik Industries AG
• HEXION INC.
• Huntsman International LLC.
• Kolon Industries, Inc.
• KYOCERA Corporation
• Plastics Engineering Company (Plenco)
• Rebling
• SBHPP

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION

• 1.1. Report description
• 1.2. Key market segments
• 1.3. Key benefits to the stakeholders
• 1.4. Research methodology
  • 1.4.1. Primary research
  • 1.4.2. Secondary research
  • 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

• 2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW

• 3.1. Market definition and scope
• 3.2. Key findings
  • 3.2.1. Top impacting factors
  • 3.2.2. Top investment pockets
• 3.3. Porter's five forces analysis
  • 3.3.1. Moderate bargaining power of suppliers
  • 3.3.2. Moderate threat of new entrants
  • 3.3.3. Moderate threat of substitutes
  • 3.3.4. Moderate intensity of rivalry
  • 3.3.5. Moderate bargaining power of buyers
• 3.4. Market dynamics
  • 3.4.1. Drivers
    • 3.4.1.1. Growing applications in electrical and electronics
    • 3.4.1.2. Increase in demand for lightweight and high-performance materials
  • 3.4.2. Restraints
    • 3.4.2.1. High initial costs of investment
  • 3.4.3. Opportunities
    • 3.4.3.1. Sustainability and environmental considerations
• 3.5. Value Chain Analysis
• 3.6. Regulatory Guidelines

CHAPTER 4: THERMOSET MOLDING COMPOUND MARKET, BY TYPE

• 4.1. Overview
  • 4.1.1. Market size and forecast
• 4.2. Phenolic Resin
  • 4.2.1. Key market trends, growth factors and opportunities
  • 4.2.2. Market size and forecast, by region
  • 4.2.3. Market share analysis by country
• 4.3. Epoxy Resin
  • 4.3.1. Key market trends, growth factors and opportunities
  • 4.3.2. Market size and forecast, by region
  • 4.3.3. Market share analysis by country
• 4.4. Polyester Resin
  • 4.4.1. Key market trends, growth factors and opportunities
  • 4.4.2. Market size and forecast, by region
  • 4.4.3. Market share analysis by country
• 4.5. Urea Formaldehyde
  • 4.5.1. Key market trends, growth factors and opportunities
  • 4.5.2. Market size and forecast, by region
  • 4.5.3. Market share analysis by country
• 4.6. Melamine Formaldehyde
  • 4.6.1. Key market trends, growth factors and opportunities
  • 4.6.2. Market size and forecast, by region
  • 4.6.3. Market share analysis by country
• 4.7. Others
  • 4.7.1. Key market trends, growth factors and opportunities
  • 4.7.2. Market size and forecast, by region
  • 4.7.3. Market share analysis by country

CHAPTER 5: THERMOSET MOLDING COMPOUND MARKET, BY END-USE

• 5.1. Overview
  • 5.1.1. Market size and forecast
• 5.2. Automotive
  • 5.2.1. Key market trends, growth factors and opportunities
  • 5.2.2. Market size and forecast, by region
  • 5.2.3. Market share analysis by country
• 5.3. Aerospace
  • 5.3.1. Key market trends, growth factors and opportunities
  • 5.3.2. Market size and forecast, by region
  • 5.3.3. Market share analysis by country
• 5.4. Electrical and Electronics
  • 5.4.1. Key market trends, growth factors and opportunities
  • 5.4.2. Market size and forecast, by region
  • 5.4.3. Market share analysis by country
• 5.5. Others
  • 5.5.1. Key market trends, growth factors and opportunities
  • 5.5.2. Market size and forecast, by region
  • 5.5.3. Market share analysis by country

CHAPTER 6: THERMOSET MOLDING COMPOUND MARKET, BY REGION

• 6.1. Overview
  • 6.1.1. Market size and forecast By Region
• 6.2. North America
  • 6.2.1. Key market trends, growth factors and opportunities
  • 6.2.2. Market size and forecast, by Type
  • 6.2.3. Market size and forecast, by End-Use
  • 6.2.4. Market size and forecast, by country
    • 6.2.4.1. U.S.
    • 6.2.4.1.1. Market size and forecast, by Type
    • 6.2.4.1.2. Market size and forecast, by End-Use
    • 6.2.4.2. Canada
    • 6.2.4.2.1. Market size and forecast, by Type
    • 6.2.4.2.2. Market size and forecast, by End-Use
    • 6.2.4.3. Mexico
    • 6.2.4.3.1. Market size and forecast, by Type
    • 6.2.4.3.2. Market size and forecast, by End-Use
• 6.3. Europe
  • 6.3.1. Key market trends, growth factors and opportunities
  • 6.3.2. Market size and forecast, by Type
  • 6.3.3. Market size and forecast, by End-Use
  • 6.3.4. Market size and forecast, by country
    • 6.3.4.1. Germany
    • 6.3.4.1.1. Market size and forecast, by Type
    • 6.3.4.1.2. Market size and forecast, by End-Use
    • 6.3.4.2. France
    • 6.3.4.2.1. Market size and forecast, by Type
    • 6.3.4.2.2. Market size and forecast, by End-Use
    • 6.3.4.3. Italy
    • 6.3.4.3.1. Market size and forecast, by Type
    • 6.3.4.3.2. Market size and forecast, by End-Use
    • 6.3.4.4. Spain
    • 6.3.4.4.1. Market size and forecast, by Type
    • 6.3.4.4.2. Market size and forecast, by End-Use
    • 6.3.4.5. UK
    • 6.3.4.5.1. Market size and forecast, by Type
    • 6.3.4.5.2. Market size and forecast, by End-Use
    • 6.3.4.6. Rest of Europe
    • 6.3.4.6.1. Market size and forecast, by Type
    • 6.3.4.6.2. Market size and forecast, by End-Use
• 6.4. Asia-Pacific
  • 6.4.1. Key market trends, growth factors and opportunities
  • 6.4.2. Market size and forecast, by Type
  • 6.4.3. Market size and forecast, by End-Use
  • 6.4.4. Market size and forecast, by country
    • 6.4.4.1. China
    • 6.4.4.1.1. Market size and forecast, by Type
    • 6.4.4.1.2. Market size and forecast, by End-Use
    • 6.4.4.2. Japan
    • 6.4.4.2.1. Market size and forecast, by Type
    • 6.4.4.2.2. Market size and forecast, by End-Use
    • 6.4.4.3. India
    • 6.4.4.3.1. Market size and forecast, by Type
    • 6.4.4.3.2. Market size and forecast, by End-Use
    • 6.4.4.4. South Korea
    • 6.4.4.4.1. Market size and forecast, by Type
    • 6.4.4.4.2. Market size and forecast, by End-Use
    • 6.4.4.5. Rest of Asia-Pacific
    • 6.4.4.5.1. Market size and forecast, by Type
    • 6.4.4.5.2. Market size and forecast, by End-Use
• 6.5. LAMEA
  • 6.5.1. Key market trends, growth factors and opportunities
  • 6.5.2. Market size and forecast, by Type
  • 6.5.3. Market size and forecast, by End-Use
  • 6.5.4. Market size and forecast, by country
    • 6.5.4.1. Brazil
    • 6.5.4.1.1. Market size and forecast, by Type
    • 6.5.4.1.2. Market size and forecast, by End-Use
    • 6.5.4.2. South Africa
    • 6.5.4.2.1. Market size and forecast, by Type
    • 6.5.4.2.2. Market size and forecast, by End-Use
    • 6.5.4.3. Rest of LAMEA
    • 6.5.4.3.1. Market size and forecast, by Type
    • 6.5.4.3.2. Market size and forecast, by End-Use

CHAPTER 7: COMPETITIVE LANDSCAPE

• 7.1. Introduction
• 7.2. Top winning strategies
• 7.3. Product mapping of top 10 player
• 7.4. Competitive dashboard
• 7.5. Competitive heatmap
• 7.6. Top player positioning, 2023

CHAPTER 8: COMPANY PROFILES

• 8.1. BASF SE
  • 8.1.1. Company overview
  • 8.1.2. Key executives
  • 8.1.3. Company snapshot
  • 8.1.4. Operating business segments
  • 8.1.5. Product portfolio
  • 8.1.6. Business performance
  • 8.1.7. Key strategic moves and developments
• 8.2. Rebling
  • 8.2.1. Company overview
  • 8.2.2. Key executives
  • 8.2.3. Company snapshot
  • 8.2.4. Operating business segments
  • 8.2.5. Product portfolio
• 8.3. SBHPP
  • 8.3.1. Company overview
  • 8.3.2. Key executives
  • 8.3.3. Company snapshot
  • 8.3.4. Operating business segments
  • 8.3.5. Product portfolio
• 8.4. Huntsman International LLC.
  • 8.4.1. Company overview
  • 8.4.2. Key executives
  • 8.4.3. Company snapshot
  • 8.4.4. Operating business segments
  • 8.4.5. Product portfolio
  • 8.4.6. Business performance
• 8.5. KYOCERA Corporation
  • 8.5.1. Company overview
  • 8.5.2. Key executives
  • 8.5.3. Company snapshot
  • 8.5.4. Operating business segments
  • 8.5.5. Product portfolio
  • 8.5.6. Business performance
• 8.6. Evonik Industries AG
  • 8.6.1. Company overview
  • 8.6.2. Key executives
  • 8.6.3. Company snapshot
  • 8.6.4. Operating business segments
  • 8.6.5. Product portfolio
  • 8.6.6. Business performance
• 8.7. Kolon Industries, Inc.
  • 8.7.1. Company overview
  • 8.7.2. Key executives
  • 8.7.3. Company snapshot
  • 8.7.4. Operating business segments
  • 8.7.5. Product portfolio
  • 8.7.6. Business performance
• 8.8. Plastics Engineering Company (Plenco)
  • 8.8.1. Company overview
  • 8.8.2. Key executives
  • 8.8.3. Company snapshot
  • 8.8.4. Operating business segments
  • 8.8.5. Product portfolio
• 8.9. HEXION INC.
  • 8.9.1. Company overview
  • 8.9.2. Key executives
  • 8.9.3. Company snapshot
  • 8.9.4. Operating business segments
  • 8.9.5. Product portfolio
• 8.10. Eastman Chemical Company
  • 8.10.1. Company overview
  • 8.10.2. Key executives
  • 8.10.3. Company snapshot
  • 8.10.4. Operating business segments
  • 8.10.5. Product portfolio
  • 8.10.6. Business performance