Overview
The Global "Thermosetting Plastics Market" is expected to grow at a high CAGR during the forecast period (2024-2031).
A thermosetting polymer, or thermoset, is a prepolymer that undergoes an irreversible hardening process, transforming from a soft solid or viscous liquid into a rigid material. This curing process can be accelerated by applying high pressure, mixing with a catalyst, or using the right amount of heat or radiation. Thermoset plastics, synthetic materials, become stronger when heated but cannot be remolded or reheated after their initial molding or heat-forming. These materials are used in molded products to protect components from harsh chemicals such as oils and automotive fluids, UV exposure, corrosion, and high operating temperatures.
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Market Growth Trends
Lack of skilled labor and resources hinders market growth
The market for thermosetting plastics faces challenges due to a shortage of skilled labor and resources required for manufacturing products from these materials. Additionally, thermosetting plastics are commonly used to restore and maintain civil structures. However, a significant limitation is their inability to be recycled or remolded into new products, which poses a major obstacle that could negatively impact the growth of the market.
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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
By Region: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
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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