Overview
The Global "Thermosetting Plastics Market" is expected to grow at a high CAGR during the forecast period (2024-2031).
A prepolymer that becomes permanently hardened by curing a soft solid or viscous liquid is known as a thermosetting polymer or thermoset. The curing process is typically accelerated by applying high pressure, mixing with a catalyst, or using heat or radiation.
Thermoset plastics are synthetic materials that strengthen when heated, but once molded, they cannot be remolded or reheated. Thermoset molding materials are widely used in molded products to protect against aggressive chemicals, such as oils and automotive fluids, as well as UV exposure, corrosion, and high operating temperatures.
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Market Growth Trends
Lack of skilled labor and resources hinders market growth
The thermosetting plastics market faces limitations due to a shortage of skilled labor and resources needed to manufacture products from these materials. Moreover, thermosetting plastics are commonly used for the repair and maintenance of civil structures. However, a significant challenge for the market is the inability of thermosetting plastics to be recycled or remolded into new products, which poses a major barrier that could negatively impact market growth.
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Market is segmented
By Type: Alkyds, Epoxies, Amino, Polyurethane, Phenolic, Vinyl Ester Resin, Others
By Application: Building and Construction, Adhesive and Sealant, Electronics and Appliances, Automotive, Others
By Molding Process: Reactive Injection Molding, Compression Molding, Extrusion Molding, Others
Market Key Players
· Arkema SA
· DowDuPont
· Alchemie Ltd.
· BASF SE
· Covestro AG
· Daicel Corporation
· DSM
· Kanoria Chembond Pvt. Ltd.
· NIHON GOSEI KAKO Co., Ltd
· Polynt SpA
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