Thermoset Composites Market To Reach USD 83.75 Billion By 2032 | BASF SE, Hexcel Corp, Teijin Limited.

(MENAFN- GlobeNewsWire - Nasdaq) “Thermoset composites are polymer-based materials that, once cured, become rigid and heat-resistant, offering high strength, durability, and stability for industrial applications.”

Dublin, March 24, 2025 (GLOBE NEWSWIRE) -- Introspective Market Research is pleased to announce the publication of its latest report, Thermoset Composites. This in-depth analysis shows that the Global Thermoset Composites Market , valued at USD 42.60 Billion in 2023, is set for substantial growth and is projected to reach USD 83.75 Billion by 2032. This anticipated expansion reflects a strong CAGR of 7.80% from 2024 to 2032.

The thermoset composites market is driven by demand for lightweight, durable materials in aerospace, automotive, and construction industries. Opportunities lie in advanced manufacturing techniques and bio-based resins for sustainability. Key trends include increased adoption in electric vehicles and wind energy applications. However, environmental concerns and competition from thermoplastics challenge market expansion. Overall, the market is poised for steady growth with technological advancements and rising industrial applications.

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Key Industry Insights –

Rising Demand for Lightweight and High-Strength Materials : The growing need for lightweight yet strong materials in aerospace, automotive, and construction industries is a major driver for thermoset composites. These materials enhance fuel efficiency, structural integrity, and durability, making them highly sought after in modern engineering applications. Their resistance to heat, chemicals, and corrosion makes them ideal for harsh environments. With increasing regulatory pressures on emission reductions, industries are shifting towards composites to replace traditional metals.

Environmental and Recycling Challenges : Thermoset composites have limited recyclability due to their cross-linked polymer structure, posing environmental concerns. Disposal issues and stringent regulations on plastic waste management further restrict market expansion, pushing industries to explore alternative materials. Unlike thermoplastics, thermosets cannot be reshaped or reused, leading to landfill accumulation. This challenge has prompted research into new resin formulations and recycling methods to improve sustainability.

Advancements in Manufacturing Technologies : Innovations such as faster curing processes, automated resin infusion, and 3D printing offer opportunities for improved production efficiency. These advancements enable mass production of complex thermoset composite components, expanding their application across various industries. The development of bio-based thermoset resins is also gaining traction, addressing environmental concerns while maintaining performance. Additionally, process automation is reducing production costs, making thermoset composites more competitive.

Competition from Thermoplastic Composites : Thermoplastic composites, which offer recyclability and flexibility, are gaining traction as a sustainable alternative. Their ability to be reshaped and reused presents a significant challenge to thermoset composites, especially in industries prioritizing circular economy solutions. With continuous improvements in thermoplastic composite properties, they are increasingly replacing thermosets in aerospace and automotive applications. Moreover, their lower curing time and ease of processing make them more attractive for mass production.

Growing Adoption in Electric Vehicles (EVs) and Renewable Energy : The increasing use of thermoset composites in electric vehicles (EVs) and renewable energy applications is a key market trend. Automakers are incorporating these materials to reduce vehicle weight, improve battery efficiency, and enhance crash resistance, leading to better performance and longer driving ranges. In the renewable energy sector, thermoset composites are widely used in wind turbine blades due to their high strength-to-weight ratio and weather resistance. As the global shift toward sustainability accelerates, demand for lightweight and durable materials in these industries is expected to surge further.

Key Players to Watch :

• Toray Industries, Inc. (Japan)
• Teijin Limited (Japan)
• SGL Carbon (Germany)
• Owens Corning (USA)
• Hexcel Corporation (USA)
• Hexion Inc. (USA)
• Cytec Solvay Group (Belgium)
• Mitsubishi Chemical Holdings Corporation (Japan)
• Huntsman Corporation (USA)
• AOC Aliancys (Netherlands)
• Ashland Global Holdings Inc. (USA)
• BASF SE (Germany)
• Arkema S.A. (France)
• DSM Composite Resins (Netherlands)
• Sumitomo Bakelite Co., Ltd. (Japan)
• Other Active Players

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Key Segments of Market Report :

Resin Type :

• Epoxy
• Polyester
• Vinyl Ester
• Phenolic
• Others
  

Fiber Type :

• Glass Fiber
• Carbon Fiber
• Aramid Fiber
• Natural Fiber

End-Use Industry :

• Aerospace & Defense
• Automotive
• Wind Energy
• Marine
• Electrical & Electronics
• Construction
• Sports & Leisure
• Others

By Region :

Asia-Pacific leads the global thermoset composites market , driven by rapid industrialization, expanding automotive and aerospace sectors, and significant infrastructure development. Countries like China, India, and Japan are major contributors , with China being the largest consumer due to its strong manufacturing base and increasing demand for lightweight, high-performance materials. The region's booming construction industry, supported by government initiatives for smart cities and infrastructure growth , further fuels the demand for thermoset composites in applications such as bridges, pipelines, and building reinforcements. The shift toward renewable energy has boosted the use of thermoset composites in wind turbine blades, reinforcing the region's market leadership.

Asia-Pacific's dominance is also attributed to the presence of key manufacturers, abundant raw material availability, and cost-effective labor, making it a hub for thermoset composite production. The automotive sector, particularly in China and India , is increasingly adopting composites to improve fuel efficiency and meet stringent emission regulations. The growing adoption of electric vehicles (EVs) and the rising investments in aerospace manufacturing further drive market growth . With continuous advancements in manufacturing technologies, government support for industrial development, and increasing investments in research and innovation, Asia-Pacific is expected to maintain its leadership in the thermoset composites market for the foreseeable future .

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Strategic Points Covered in Table of Content of Thermoset Composites Market:

1. Executive Summary

- Into the market research report, the executive summary highlights the most critical market findings , including key trends and actionable insights, offering clients a snapshot of the report's core takeaways.

2. Market Landscape

- This section is crafted to include a detailed analysis of Thermoset Composites Market Dynamics, Growth Trends, And Regulatory Frameworks . Tools like PESTEL Analysis, Value Chain Analysis, and Investment Pockets are employed to present a thorough market outlook and future growth projections.

3. Thermoset Composites Market Competitive Analysis

- The competitive analysis examines the Key Players, Their Positioning, Strengths, And Opportunities . By mapping competition, we provide actionable intelligence for clients to strategize effectively.

4. Thermoset Composites Market Segmentation Analysis

-In segmentation, we break down the market into Key and Sub-Segments , focusing on their growth potential, demand patterns, and overall market contribution.

5. Regional Analysis

-Through in-depth global, regional, and country-level insights, we analyse key growth drivers and challenges specific to each geography.

6. Thermoset Composites Market Analyst Viewpoint and Conclusion

-The concluding section consolidates the findings, offering strategic recommendations and emphasizing practical, client-centric strategies to navigate market complexities.

About Us :

Introspective Market Research is a global market research firm specializing in big data and advanced analytics. Led by CEO Mrs. Swati Kalagate, Introspective Market Research provides strategic insights and consulting solutions, helping businesses navigate market trends and forecast future developments. Leveraging an extensive industry network, Introspective Market Research ensures accurate research through primary interviews with executives, rigorous secondary data collection, and expert analysis. This approach delivers precise, actionable intelligence, enabling clients to anticipate market dynamics and make informed business decisions.

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