Market Research Report
Molding Compound Market by Thermoset Resin Type (Phenolic, Epoxy, Polyester and Others), by Applications (Electricals, Aerospace, Automotive and Others), and by Region- Global Forecasts to 2020
|Published by||MarketsandMarkets||Product code||352590|
|Published||Content info||123 Pages
|Molding Compound Market by Thermoset Resin Type (Phenolic, Epoxy, Polyester and Others), by Applications (Electricals, Aerospace, Automotive and Others), and by Region- Global Forecasts to 2020|
|Published: February 16, 2016||Content info: 123 Pages||
Global molding compounds market by thermoset resin type to grow from USD 8.04 billion in 2015 to USD 10.96 billion by 2020, at a compound annual growth rate (CAGR) of 6.40% between 2015 and 2020, as the thermoset molding compounds are being increasingly used in electrical and automotive applications.
Thermoset molding compounds can be molded into complex shaped and have been proved to be safe in electric application due to its high performance properties. With improvement of infrastructure, consumer demand for electrical home has changed, as well as use of thermoset molding compounds in electrical components which offer design flexibility. Also, thermoset molding compounds provide great advantages in preventing rust and corrosion of vehicles' body and key metal parts, thus saving maintenance costs and increasing average lifespan. These are some of the factors driving the global thermoset molding compounds market.
Phenolic resin is the most commonly used resin for the production of thermoset molding compounds. There are certain properties of phenolic resins which make superior thermoset molding compounds in comparison to other resins used. Phenolic molding compounds are specified to insulate and protect sensitive components from the adverse effect of high temperature exposure and also maintain the structural integrity of thermoset molding compounds. Moreover, as phenolic resins offer consumer safety when the potential for the end product to melt, overheat, or initiate a fire is minimized through the use of a heat resistant phenolic molding material. Due to these properties phenolic molding compounds is expected to register the highest CAGR in the next five years.
Asia-Pacific dominated the thermoset molding compounds market followed by North America. China is expected to register the largest market share in the Asia-Pacific region, due to the growing economy and progressing lifestyle in the country, the need for high performance products in homes and industries in increasing.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted as follows:-
Thermoset molding compounds are finding its place in new applications such as consumer goods, which use thermoset molding compounds as one of its core materials in cookware handles, knobs, and electric appliances.
The various key players profiled in the report are as follows:
The report will help the market leaders/new entrants in this market in the following ways:
*Details on company at a glance, recent financials, Products offered, strategies & insights, & recent developments might not be captured in case of unlisted companies.