(MENAFN- EIN Presswire) EINPresswire/ -- The extensive use of molding compounds across diverse industries including industrial, electrical, packaging, manufacturing, aerospace, and automotive continues to drive the expansion of the global molding compounds market. Furthermore, the widespread adoption of epoxy and phenolic resins as insulating materials and cladding panels in construction activities across major economies such as Mexico, China, India, Japan, and the U.S. is expected to open new avenues for market growth.

According to a report published by Allied Market Research, the global molding compounds market generated $10.10 billion in 2021 and is projected to reach $17.02 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031. The study provides a comprehensive analysis of evolving industry trends, leading segments, value chain dynamics, investment opportunities, and the competitive landscape. It serves as a crucial guide for investors, business strategists, and key stakeholders to identify emerging opportunities and make informed decisions for future growth.

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Market Dynamics:

Drivers

- Rising use of molding compounds in key industries such as industrial, electrical, automotive, aerospace, packaging, and manufacturing.
- Excellent thermal stability, corrosion resistance, and mechanical strength, which make molding compounds ideal for thermal insulation and high-performance applications.

Opportunities

- Increasing adoption of epoxy and phenolic resins as insulating and cladding materials in construction projects across major global markets, including the U.S., India, China, Japan, and Mexico.

Restraints

- Potential health hazards associated with molding compound use, such as eye irritation, skin itching, and respiratory discomfort, may hinder market expansion.

Segmental Overview:-

By Resin Type:

The phenolic resin segment dominated the market in 2021, accounting for nearly two-fifths of the total market share, and is expected to maintain its lead through 2031. This segment is also anticipated to record the highest CAGR of 6.0% during the forecast period, driven by its superior mechanical strength, heat resistance, and cost-effectiveness. Other resin types analyzed include polyester, epoxy, and others.

By Application:

The electrical and electronics segment held the largest share in 2021, contributing nearly one-third of the total market. It is projected to retain its dominance and register the fastest CAGR of 6.1% by 2031, owing to the increasing demand for high-performance insulating materials. Other key application areas include aerospace, automotive, and industrial sectors.

By Region:

The Asia-Pacific region led the global market in 2021, accounting for more than 40% of the total share, and is expected to continue its dominance through 2031. The region is also forecasted to register the highest CAGR of 5.9%, driven by rapid industrialization, robust manufacturing activities, and growing construction investments in countries such as China, India, and Japan. Other regions analyzed include North America, Europe, and LAMEA.

Key Market Players:-

Prominent players operating in the global molding compounds market include:

- BASF SE, The Lubrizol Corporation, CAPLINQ Corporation, Sumitomo Chemical Co., Ltd., Eastman Chemical Company, Starfire Systems Inc., Evonik Industries AG, SPF Composites, Henkel AG & Co. KGaA, Mar-Bal, Inc., PLEXIGLAS, Owens Corning, SBHPP, PPG Industries, Inc., and Toray Industries, Inc.

These companies focus on strategic initiatives such as product innovation, regional expansion, partnerships, and joint ventures to strengthen their market presence and enhance their product portfolios. The report further provides detailed insights into each player's performance, market positioning, and the impact of technological advancements on the industry landscape.

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About Us

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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