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Study Estimates the Global Thermoset Composites Market Industry


(, October 30, 2021 ) According to the new market research report "Thermoset Composites Market by Manufacturing Process (Lay-Up, Filament Winding, Injection Molding, Pultrusion), Fiber Type (Glass, Carbon), Resin Type (Polyester, Epoxy, Vinyl Ester), End-Use Industry, and Region - Global Forecast to 2021", The thermoset composites market was valued at USD 41.98 Billion in 2016, and is projected to reach USD 57.98 Billion by 2021, at a CAGR of 6.67% during the forecast period.

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Browse 86 market data tables and 70 figures spread through 183 pages and in-depth TOC on "Thermoset Composites Market"

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Growth of this market is mainly attributed to the fact that thermoset composites help increase the strength and stiffness of structural parts. In addition, the increasing adoption of thermoset composites in varied end-use industries such as automotive and aerospace & defense, among others, has contributed to the growth of this market.

Epoxy resin comprises a major share of the thermoset composites market, in terms of value

Epoxy resin-based composites are used in various industries such as aerospace & defense, transportation, wind energy, pipe & tank, and marine, among others. These composites encompass properties such as high stiffness, chemical resistance, and high tensile strength. On account of these properties, epoxy resin-based composites have been widely utilized across varied end-use industries.

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Glass fiber is the largest fiber type for thermoset composites, in terms of volume

Glass fiber thermoset composites offer better fabrication adaptability, high durability, and high strength-to-weight ratio. Glass fibers can be used in lay-up, weaving, filament winding, and pultrusion processes for manufacturing composite parts for various end-use industries, such aerospace & defense, transportation, and wind energy.

Asia-Pacific accounts for a major share of the thermoset composites market

The growth of the thermoset composites market in the Asia-Pacific region is driven by the expansion of the construction & infrastructure, wind energy, and transportation industries in this region. Some of the leading players such as Owens Corning (U.S.) and Toray Industries, Inc. (Japan) have enhanced their R&D efforts to provide good quality thermoset composites products. In addition, rapid economic development and industrialization in the Asia-Pacific region are providing an impetus for the growth of the thermoset composites market.

Key players operating in the thermoset composites market include Owens Corning (U.S.), Toray Industries, Inc. (Japan), Hexcel Corporation (U.S.), Jushi Group (China), and Teijin Limited (Japan), among others. These players have adopted various organic and inorganic developmental strategies to enhance their presence in the thermoset composites market.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.


Mr. Aashish Mehra


Source: EmailWire.Com

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