PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1349450
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1349450
Europe Thermoset Plastics Market Assessment, By Type, By Processing Method, By Application, By End-use Industry, By Region, Opportunities and Forecast, 2016-2030F
Europe thermoset plastics market size was valued at USD 20.5 billion in 2022, which is expected to grow to USD 27.2 billion in 2030, with a CAGR of 3.6% during the forecast period between 2023 and 2030. The booming building and construction activities and the souring advancements in the electrical and electronics manufacturing activities are the prominent drivers accelerating the growth of the Europe thermoset plastics market.
The key determinants, including increasing demand for larger living spaces and government investments in infrastructure development projects, are augmenting the growth of building and construction activities in the European region. Furthermore, the rising adoption of automated manufacturing processes, increasing research & development activities, and innovations in electronic products are the key trends spurring the growth of Europe's electrical & electronics industry. The booming electrical & electronics industry is accelerating the demand for thermoset plastics to protect electronic components from corrosion. Likewise, European manufacturers' new technological advancements for innovations in the latest range of thermoset plastics are supplementing the market growth. Thus, the innovations in thermoset plastics and the rapidly increasing construction activities are fostering market growth.
Bolstering Aerospace Industry is Amplifying the Demand for Thermoset Plastics
The key properties of thermoset plastics include excellent mechanical strength and significant corrosion resistance. Thus, due to the above properties, thermoset plastics are an ideal solution for aerospace applications such as insulators, electric spacers, brackets & clips, etc. The recently developed advanced infrastructure for increased aerospace production and rising demand for highly compact aircraft are the key trends driving the aerospace industry growth in Europe.
For instance, according to Airbus, the production of A330 aircraft reached 3 per month in 2022. Moreover, Airbus is focusing on increasing the output to 4 per month by 2024. Henceforth, the bolstering aerospace industry in Europe is boosting the demand for thermoset plastics such as polyurethane, epoxy, and others to ensure a superior resistance against heat. This, in turn, is driving the market growth in Europe thermoset plastic market.
Increasing Investments in the Building & Construction Projects in Europe is Boosting the Market Growth
Thermoset plastics are a type of polymer that offer superior properties, including excellent efficiency, higher versatility, significant flexibility, and mechanical properties. Thus, thermoset plastics are deployed in a diverse range of building & construction applications, including insulated panels, roof insulation, windows & door gap fillers, and others. The rising development of renewable energy infrastructure and increasing demand for larger commercial settings are proliferating the growth of building & construction activities in Europe.
For instance, according to the European Construction Industry Federation, Europe's year-on-year building & construction investment growth rate increased by 2.1% in 2022. Therefore, the development of new building & construction projects in Europe is fostering the demand for thermoset plastics to ensure superior resistance against moisture, which is accelerating the market growth.
Rising Adoption of Thermoset Plastics in Electronic Components
The employment of thermoset plastics is significant for electronic components to ensure superior thermal resistance, which results in enhanced durability of electronic products. The favorable regulatory framework and increasing investment in new electronics manufacturing plants amplify the growth of European electronic components.
For illustration, according to the European Electronic Component Manufacturers' Association, in 2022, the annual growth rate of electronic passive components in Europe was 7.0%, reaching USD 6,031.9 million (EURO 5,724 million). Thus, it is evident that the demand for electronic components is increasing in Europe. As a result, the demand for thermoset plastics is increasing in Europe to ensure superior electronics functioning, thereby supplementing the market growth.
Impact of COVID-19
The COVID-19 restrictions in 2020 significantly declined the growth rate of various end-use industries, such as automotive, building & construction, and others. For instance, according to the European Construction Industry Federation, the European Union building & construction investment registered a decline of 3.0% in 2020. Thus, the diminished growth rate of building & construction activities in Europe led to a decline in the revenue growth of the thermoset plastics market in 2020.
However, the ease of COVID-19-related regulation at the end of 2020 significantly accelerated the Europe thermoset plastics market. Furthermore, the impact of the COVID-19 pandemic depreciated, which led to favorable growth outcomes for the Europe thermoset plastics market.
Impact of Russia-Ukraine War
Russia is among the leading exporters of automotive components, which is vital in the production of automobiles production. The Russia-Ukraine war impacted the supply of essential materials and the prices of thermoset materials.
For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2021, the production of automotive in Europe was 16,338,165 units, and in 2022, it was 16,216,888, a decline of about 1%. Thus, the decline in European automotive production due to supply chain constraints created by Russia-Ukrainian war restrained the Europe thermoset plastics market growth in the first half of 2022.
Key Players Landscape and Outlook
The leading market players in the Europe thermoset plastics market include: LANXESS, BASF SE, DSM, and INEOS, and others. The prominent players involved in manufacturing thermoset plastics in Europe are investing in strategies such as new product innovation, acquisitions, and others to increase their share in the European thermoset plastics market.
For instance, in November 2022, Base Materials, a United Kingdom based manufacturer of epoxy materials launched BE368, an epoxy tooling material for application in the transport industry. The prime focus of the launch was to increase the product offering for thermoset plastics in the European market.
Table of Contents
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on Europe Thermoset Plastics Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
- 6.1. Market Awareness and Product Information
- 6.2. Brand Awareness and Loyalty
- 6.3. Factors Considered in Purchase Decision
- 6.3.1. Brand Name
- 6.3.2. Quality
- 6.3.3. Quantity
- 6.3.4. Price
- 6.3.5. Product Specification
- 6.3.6. Application Specification
- 6.3.7. Shelf-Life
- 6.3.8. Availability of Product
- 6.4. Frequency of Purchase
- 6.5. Medium of Purchase
7. Europe Thermoset Plastics Market Outlook, 2016-2030F
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.1.2. By Volume
- 7.2. By Type
- 7.2.1. Unsaturated Polyesters
- 7.2.2. Polyurethanes
- 7.2.3. Phenolic
- 7.2.4. Epoxy
- 7.2.5. Amino
- 7.2.6. Alkyd
- 7.2.7. Vinyl Ester
- 7.2.8. Others
- 7.3. By Processing Type
- 7.3.1. Compression Molding
- 7.3.2. Injection Molding
- 7.3.3. Filament Winding
- 7.3.4. Others
- 7.4. By Application
- 7.4.1. Adhesive & Sealants
- 7.4.2. Pipelines
- 7.4.3. Insulation
- 7.4.4. Automobile Components
- 7.4.5. Electronic Components
- 7.4.6. Others
- 7.5. By End-use Industry
- 7.5.1. Building & Construction
- 7.5.1.1. Residential
- 7.5.1.2. Commercial
- 7.5.1.3. Industrial
- 7.5.1.4. Infrastructure
- 7.5.2. Transportation
- 7.5.2.1. Automotive
- 7.5.2.2. Aerospace
- 7.5.2.3. Marine
- 7.5.2.4. Locomotive
- 7.5.3. Electrical & Electronics
- 7.5.3.1. Television
- 7.5.3.2. Laptops
- 7.5.3.3. Semiconductors
- 7.5.3.4. Others
- 7.5.4. Oil & Gas
- 7.5.5. Others
- 7.5.1. Building & Construction
- 7.6. By Region
- 7.6.1. Germany
- 7.6.2. France
- 7.6.3. Italy
- 7.6.4. United Kingdom
- 7.6.5. Russia
- 7.6.6. Netherlands
- 7.6.7. Spain
- 7.6.8. Turkey
- 7.6.9. Poland
8. Europe Thermoset Plastics Market Outlook, By Region, 2016-2030F
- 8.1. Europe*
- 8.1.1. By Type
- 8.1.1.1. Unsaturated Polyesters
- 8.1.1.2. Polyurethanes
- 8.1.1.3. Phenolic
- 8.1.1.4. Epoxy
- 8.1.1.5. Amino
- 8.1.1.6. Alkyd
- 8.1.1.7. Vinyl Ester
- 8.1.1.8. Others
- 8.1.2. By Processing Type
- 8.1.2.1. Compression Molding
- 8.1.2.2. Injection Molding
- 8.1.2.3. Filament Winding
- 8.1.2.4. Others
- 8.1.3. By Application
- 8.1.3.1. Adhesive & Sealants
- 8.1.3.2. Pipelines
- 8.1.3.3. Insulation
- 8.1.3.4. Automobile Components
- 8.1.3.5. Electronic Components
- 8.1.3.6. Others
- 8.1.4. By End-use Industry
- 8.1.4.1. Building & Construction
- 8.1.4.1.1. Residential
- 8.1.4.1.2. Commercial
- 8.1.4.1.3. Industrial
- 8.1.4.1.4. Infrastructure
- 8.1.4.2. Transportation
- 8.1.4.2.1. Automotive
- 8.1.4.2.2. Aerospace
- 8.1.4.2.3. Marine
- 8.1.4.2.4. Locomotive
- 8.1.4.3. Electrical & Electronics
- 8.1.4.3.1. Television
- 8.1.4.3.2. Laptops
- 8.1.4.3.3. Semiconductors
- 8.1.4.3.4. Others
- 8.1.4.4. Oil & Gas
- 8.1.4.5. Others
- 8.1.5. Germany*
- 8.1.5.1. By Type
- 8.1.5.1.1. Unsaturated Polyesters
- 8.1.5.1.2. Polyurethanes
- 8.1.5.1.3. Phenolic
- 8.1.5.1.4. Epoxy
- 8.1.5.1.5. Amino
- 8.1.5.1.6. Alkyd
- 8.1.5.1.7. Vinyl Ester
- 8.1.5.1.8. Others
- 8.1.5.2. By Processing Type
- 8.1.5.2.1. Compression Molding
- 8.1.5.2.2. Injection Molding
- 8.1.5.2.3. Filament Winding
- 8.1.5.2.4. Others
- 8.1.5.3. By Application
- 8.1.5.3.1. Adhesive & Sealants
- 8.1.5.3.2. Pipelines
- 8.1.5.3.3. Insulation
- 8.1.5.3.4. Automobile Components
- 8.1.5.3.5. Electronic Components
- 8.1.5.3.6. Others
- 8.1.5.4. By End-use Industry
- 8.1.5.4.1. Building & Construction
- 8.1.5.4.1.1. Residential
- 8.1.5.4.1.2. Commercial
- 8.1.5.4.1.3. Industrial
- 8.1.5.4.1.4. Infrastructure
- 8.1.5.4.2. Transportation
- 8.1.5.4.2.1. Automotive
- 8.1.5.4.2.2. Aerospace
- 8.1.5.4.2.3. Marine
- 8.1.5.4.2.4. Locomotive
- 8.1.5.4.3. Electrical & Electronics
- 8.1.5.4.3.1. Television
- 8.1.5.4.3.2. Laptops
- 8.1.5.4.3.3. Semiconductors
- 8.1.5.4.3.4. Others
- 8.1.5.4.4. Oil & Gas
- 8.1.5.4.5. Others
- 8.1.6. France
- 8.1.7. Italy
- 8.1.8. United Kingdom
- 8.1.9. Russia
- 8.1.10. Netherlands
- 8.1.11. Spain
- 8.1.12. Turkey
- 8.1.13. Poland
- 8.1.1. By Type
9. Supply Side Analysis
- 9.1. Capacity, By Company
- 9.2. Production, By Company
- 9.3. Operating Efficiency, By Company
- 9.4. Key Plant Locations (Up to 25)
10. Market Mapping, 2022
- 10.1. By Type
- 10.2. By Processing Type
- 10.3. By Application
- 10.4. By End-use Industry
- 10.5. By Region
11. Macro Environment and Industry Structure
- 11.1. Supply Demand Analysis
- 11.2. Import Export Analysis - Volume and Value
- 11.3. Supply/Value Chain Analysis
- 11.4. PESTEL Analysis
- 11.4.1. Political Factors
- 11.4.2. Economic System
- 11.4.3. Social Implications
- 11.4.4. Technological Advancements
- 11.4.5. Environmental Impacts
- 11.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
- 11.5. Porter's Five Forces Analysis
- 11.5.1. Supplier Power
- 11.5.2. Buyer Power
- 11.5.3. Substitution Threat
- 11.5.4. Threat from New Entrant
- 11.5.5. Competitive Rivalry
12. Market Dynamics
- 12.1. Growth Drivers
- 12.2. Growth Inhibitors (Challenges, Restraints)
13. Key Players Landscape
- 13.1. Competition Matrix of Top Five Market Leaders
- 13.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
- 13.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
- 13.4. SWOT Analysis (For Five Market Players)
- 13.5. Patent Analysis (If Applicable)
14. Pricing Analysis
15. Case Studies
16. Key Players Outlook
- 16.1. LANXESS
- 16.1.1. Company Details
- 16.1.2. Key Management Personnel
- 16.1.3. Products & Services
- 16.1.4. Financials (As reported)
- 16.1.5. Key Market Focus & Geographical Presence
- 16.1.6. Recent Developments
- 16.2. BASF SE
- 16.3. DSM
- 16.4. INEOS
- 16.5. RAMPH Holding GmbH & Co.
- 16.6. Covestro AG
- 16.7. Polynt S.p.A.
- 16.8. Solvay
- 16.9. Rochling
- 16.10. GAIRESA
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. Strategic Recommendations
18. About Us & Disclaimer
List of Tables
- Table 1. Pricing Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. Europe Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 2. Europe Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 3. Europe Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 4. Europe Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 5. Europe Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 6. Europe Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 7. Europe Thermoset Plastics Market Share, By Region, In USD Billion, 2016-2030F
- Figure 8. Germany Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 9. Germany Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 10. Germany Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 11. Germany Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 12. Germany Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 13. Germany Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 14. United Kingdom Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 15. United Kingdom Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 16. United Kingdom Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 17. United Kingdom Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 18. United Kingdom Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 19. United Kingdom Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 20. France Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 21. France Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 22. France Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 23. France Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 24. France Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 25. France Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 26. Italy Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 27. Italy Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 28. Italy Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 29. Italy Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 30. Italy Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 31. Italy Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 32. Russia Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 33. Russia Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 34. Russia Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 35. Russia Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 36. Russia Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 37. Russia Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 38. Spain Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 39. Spain Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 40. Spain Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 41. Spain Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 42. Spain Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 43. Spain Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 44. Poland Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 45. Poland Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 46. Poland Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 47. Poland Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 48. Poland Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 49. Poland Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 50. Netherlands Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 51. Netherlands Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 52. Netherlands Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 53. Netherlands Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 54. Netherlands Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 55. Netherlands Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 56. Turkey Thermoset Plastics Market, By Value, In USD Billion, 2016-2030F
- Figure 57. Turkey Thermoset Plastics Market, By Volume, In Unit Thousand, 2016-2030F
- Figure 58. Turkey Thermoset Plastics Market Share, By Type, In USD Billion, 2016-2030F
- Figure 59. Turkey Thermoset Plastics Market Share, By Processing Type, In USD Billion, 2016-2030F
- Figure 60. Turkey Thermoset Plastics Market Share, By Application, In USD Billion, 2016-2030F
- Figure 61. Turkey Thermoset Plastics Market Share, By End-Use Industry, In USD Billion, 2016-2030F
- Figure 62. By Type Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 63. By Processing Type Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 64. By Application Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 65. By End-Use Industry Map-Market Size (USD Billion) & Growth Rate (%), 2022
- Figure 66. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022
