Thermosetting Plastics Market Analysis

Type (Unsaturated Polyesters, Polyurethanes, Phenolic, Epoxy, Amino, Alkyd, Vinyl, Ester)

The unsaturated polyesters segment will grow the most by the forecast period and will hold almost 43% in the thermosetting plastics market because of its outstanding thermal opposition, high strictness, high creep power, di- electrical properties, and supreme chemical flexibility properties. Unsaturated polyester resin in the international automotive composites market seems encouraging with scopes in different applications, comprising pickups, closure panels, body panels, fenders, GOR (grille opening strengthening), heat shields, and headlamp specula. The UPR in the international automotive composites market is projected to reach a USD 600.6 million by 2028 at a CAGR of 5% from 2022 to 2028.  The major operators for unsaturated polyester resin in the international automotive composites market expansion are the rising requirement for lightweight components and the execution advantages of enhanced composites over rival components. This will help to grow this segment of the thermosetting plastics market in a superior way.

End User Industry (Construction, Adhesive & Sealant, Electronics & Appliances, Automotive)

The construction segment will have superior growth during the forecast period and will hold around 45% of the revenue share of the thermosetting plastics market owing to the increasing expansion of the construction industry across the world. Encouragingly, the industry projects to get back some expansion momentum in 2024. Believing there is a modification of international economic steadfastness, anticipates recommending output expansion will grow by 3% and touch a yearly average of 4.2% between 2025 and 2027. Investment in the infrastructure and the energy and usefulness sectors is a major driver of complete construction output expansion. International economic expansion has slowed in the past 12 months due to high inflation and clamping financial situations, which are also restricting investment. Challenges to the international construction industry comprise the high costs of construction components and labor deficiencies. Thus, these will help this segment to have the highest growth in the thermosetting plastics market.

Our in-depth analysis of the global thermosetting plastics market includes the following segments: