PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1739279
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1739279
Global Thermoset Molding Compounds Market to Reach US$16.2 Billion by 2030
The global market for Thermoset Molding Compounds estimated at US$12.0 Billion in the year 2024, is expected to reach US$16.2 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2024-2030. Phenolic Resin, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$4.1 Billion by the end of the analysis period. Growth in the Epoxy Resin segment is estimated at 3.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$3.3 Billion While China is Forecast to Grow at 8.3% CAGR
The Thermoset Molding Compounds market in the U.S. is estimated at US$3.3 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 8.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Global Thermoset Molding Compounds Market - Key Trends & Drivers Summarized
What Makes Thermoset Molding Compounds So Crucial in Industrial Manufacturing?
Thermoset molding compounds have carved out a significant role across a wide spectrum of manufacturing sectors due to their exceptional heat resistance, dimensional stability, and superior mechanical strength. Composed of resins such as phenolic, epoxy, polyester, silicone, and melamine, these compounds undergo an irreversible curing process when subjected to heat and pressure, making them ideal for high-performance applications. The automotive industry, for instance, extensively utilizes these materials in under-the-hood components, brake system parts, ignition systems, and electric motor casings, capitalizing on their high temperature and chemical resistance. Similarly, the electrical and electronics sector demands these compounds for applications in circuit breakers, insulators, switches, and connectors where insulation performance and flame retardance are non-negotiable.
Their ability to be precisely molded into complex shapes with tight tolerances, without warping under stress, positions thermoset compounds as indispensable in high-precision and high-reliability environments. These materials also exhibit excellent resistance to moisture and corrosion, a vital attribute for use in marine applications, HVAC components, and heavy-duty industrial machinery. Aerospace and defense sectors are leveraging advanced epoxy and BMI-based compounds for their structural components, not only to reduce weight but also to improve resistance against fatigue and stress-cracking under extreme conditions. The use of bio-based thermoset resins is beginning to emerge in certain applications, signaling a gradual shift toward sustainability in a traditionally petrochemical-dominated landscape.
How Are Technological Innovations Shaping Material Science for These Compounds?
Cutting-edge developments in polymer chemistry and process optimization are rapidly transforming the thermoset molding compounds market. One key advancement is the evolution of hybrid thermoset systems, which combine different resins to enhance targeted properties such as toughness, thermal endurance, or electrical insulation. This is particularly valuable in automotive electrification, where materials must perform reliably under high voltage and temperature extremes. Innovations in filler technologies, including nano-silica, carbon nanotubes, and aramid fibers, are improving the mechanical and thermal performance of thermoset compounds without significantly increasing weight-crucial for fuel efficiency and emissions targets.
Equally transformative is the adoption of advanced molding technologies such as high-pressure compression molding, resin transfer molding (RTM), and automated liquid molding systems. These methods allow for faster production cycles, lower material wastage, and superior quality finishes. Enhanced computer-aided engineering (CAE) tools and predictive simulation software have also enabled manufacturers to fine-tune mold designs and curing cycles, resulting in consistent and defect-free outputs. Moreover, process digitization and real-time quality monitoring are playing a growing role in scaling production while maintaining rigorous performance benchmarks. These technological shifts are particularly pivotal in industries like e-mobility and renewable energy infrastructure, where the need for thermally stable and mechanically resilient materials continues to rise.
Is Demand Diversifying Across Newer End-Use Sectors?
The demand base for thermoset molding compounds is diversifying far beyond traditional segments like automotive and electronics. One emerging area is the electric vehicle (EV) sector, where the need for lightweight, heat-resistant, and non-conductive materials is critical for battery management systems, inverters, and motor housings. Thermoset compounds, particularly those based on phenolics and epoxies, are being chosen for these roles due to their ability to maintain structural integrity under intense thermal and electrical loads. Another growth area is the wind energy industry, which increasingly relies on high-performance epoxy-based compounds for turbine blades, nacelles, and hub structures. These materials offer the necessary combination of strength, fatigue resistance, and environmental durability.
In construction and infrastructure, thermoset materials are being employed for composite rebar, architectural facades, and flame-retardant panels. The rise of prefabricated modular buildings, requiring robust and dimensionally stable components, is also driving new applications. The medical device industry is beginning to use thermoset plastics in diagnostic equipment housings, surgical instruments, and radiation shielding components, thanks to their sterilizability and biocompatibility. Meanwhile, consumer electronics manufacturers are leveraging ultra-thin thermoset casings for smartphones, tablets, and wearable tech to balance aesthetic sleekness with structural safety. The growing integration of 5G and IoT devices further amplifies the need for precise, heat-dissipative materials-an area where thermoset molding compounds provide a critical performance edge.
The Growth in the Thermoset Molding Compounds Market Is Driven by Several Factors…
The primary drivers behind the growth of the thermoset molding compounds market stem from evolving technology standards, the rise of advanced electrical infrastructure, and stringent regulatory demands across industries. One of the most impactful drivers is the proliferation of electric vehicles and the supporting infrastructure. As OEMs shift toward lightweight and fire-retardant components, thermoset compounds-especially epoxy and phenolic-based-are increasingly replacing metal and thermoplastic parts in battery enclosures, power electronics, and under-the-hood applications. Concurrently, the expansion of 5G telecom infrastructure is generating robust demand for dimensionally stable, weather-resistant components used in base stations and antennas, many of which rely on high-performance thermoset composites.
Moreover, regulatory standards mandating flame retardance, low smoke emission, and long-term durability are driving industries such as aerospace, rail, and public infrastructure to adopt thermoset materials over alternatives. In the renewable energy sector, the scaling of wind and solar projects is boosting the demand for large-scale, corrosion-resistant components made from thermoset compounds. The trend toward miniaturization in electronics and the integration of microelectromechanical systems (MEMS) also necessitate materials with excellent dielectric properties and low shrinkage, placing thermosets at the center of design strategies. Furthermore, regional industrialization in Asia-Pacific and Latin America, especially in automotive and electronics manufacturing, is creating sustained demand for localized thermoset compound production, often tailored to meet specific performance and environmental standards.
SCOPE OF STUDY:
The report analyzes the Thermoset Molding Compounds market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Phenolic Resin, Epoxy Resin, Polyester Resin, Urea Formaldehyde, Melamine Formaldehyde, Other Types); End-Use (Automotive, Aerospace, Electrical & Electronics, Other End-Uses)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 41 Featured) -
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!
APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA <> CHINA <> MEXICO <> CANADA <> EU <> JAPAN <> INDIA <> 176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
COMPLIMENTARY PREVIEW
Contact your sales agent to request an online 300+ page complimentary preview of this research project. Our preview will present full stack sources, and validated domain expert data transcripts. Deep dive into our interactive data-driven online platform.