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| A01576 | Pages: 195 | Feb 2017 | 8498 Views | | |
| Author(s) : Yashwant Sahu | Tables: 61 | Charts: 51 |
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Global Thermoset Molding Compound Market was valued at $8,096 million in 2015, and is expected to reach $12,298 million by 2022, supported by a CAGR of 6.2% during the forecast period. The properties of thermoset molding compounds such as high-heat resistance, dimensional stability, and electrical insulation capability makes them ideal material for several end-use applications. These are highly used in electrical & electronics applications owing to its toughness, resistance to several environmental factors, stability, and flame resistance. It delivers superior performance as compared to other substitute products such as metals and thermoplastics. As these are generally stronger than thermoplastics due to the polymer cross-linking and are better suited for high temperature applications. Moreover, the factors such as need for weight reduction in aerospace & transportation and rise in demand for thermally stable & corrosion resistance components drive the growth of thermoset molding compounds market. However, volatile crude oil prices and regulatory challenges associated with these compounds are projected to hamper the market growth.
Thermoset Molding Compound Market Segmentation
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The report, global thermoset molding compounds market mainly emphasizes on thermoset resins and its different types including phenolic resin, epoxy resin, polyester resin, urea formaldehyde resin, melamine formaldehyde resin, and others. Thermoset molding compound market analysis further includes the current market trends and future opportunities in several end-use industries such as automotive, aerospace, and electrical & electronics. In addition, it also highlights different factors that impact the growth of the global market such as key drivers, restraints, growth opportunities, and the role of different key players in the market. Further, report presents the quantitative data in terms of both value and volume. The data are gathered majorly from the secondary sources such as company publications, Factiva, Hoovers, OneSource, and others. The data are validated after analysis from the C-level executives and directors of the companies present in the global thermoset molding compound market.
By geography, the thermoset molding compound market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Amongst them, Asia-Pacific leads the global thermoset molding compound market in terms of value and volume. LAMEA is the fastest growing region owing to the rise in urbanization and growth in demand for lightweight materials in automotive industries.
Molding Compound Market Share by Key Winning Strategies
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The key players in the global thermoset molding compound market adopted expansion, product development, product launch, collaboration, partnership, agreement, and innovation to sustain the intense market competition. Amongst them, expansion is the leading developmental strategy implemented by industry players.
Top Investment Pockets
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Automotive is the most lucrative end-user segment in the global thermoset molding compound market followed by electrical & electronics, and aerospace. In automotive industry, these thermoset compounds are used to manufacture exterior and interior automotive components such as exhaust system, acoustics, cooling systems, lubrication systems, and clutch facing system. Thus, owing to the high growth rate and wide application area, this segment is expected to provide enormous growth opportunity to the industry players in near future.
Asia-Pacific Thermoset Molding Compound Market
The global demand for thermoset molding compound is dominated by Asia-Pacific due to the adoption of these compounds in several end-use industries. Further, rapid growth in urbanization, increase in disposable income, and rise in industrialization have a positive impact on the market. Thermoset molding compound market trends in the region highlights that China is the largest consumer and supplier of the material and is expected to dominate the market during the forecast period as well.
Key players profiled in this report include Ashland Global Holding Inc., BASF SE, Eastman Chemical Company, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kolon Industries Inc., Kyocera Chemical Corporation, Plastics Engineering Company (Plenco), and Rogers Corporation.
Other major players (not profiled in report) in the market include Hitachi Chemical Company Ltd., Cosmic Plastics Inc., Chang Chun Plastics Co. Ltd., Saudi Basic Industries Corporation (SABIC), Nan Ya Plastics Corporation, Allnex Belgium S.A., Georgia-Pacific Chemicals LLC, Jiangsu Tianxin Chemical Co., Ltd., Mitsui Chemicals Inc., and Chemiplastica SPA.
Thermoset Molding Compound Market Key Benefits:
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global thermoset molding compound industry, in terms of revenue and volume.
In-depth analysis of all regions is done by constructing market estimations for key segments between 2014 and 2022, which assist in identifying the prevailing market opportunities.
The report assists in understanding the strategies adopted by the leading companies in the global thermoset molding compound industry.
This study evaluates competitive landscape to understand the competitive environment across the geographies in thermoset molding compound industry.
Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.
Phenolic Resin
Epoxy Resin
Polyester Resin
Urea Formaldehyde Resin
Melamine Formaldehyde Resin
Others
Automotive
Aerospace
Electrical & Electronics
Others
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
Korea
Rest of Asia-Pacific
LAMEA
Brazil
South America
Rest of LAMEA
CHAPTER 1 INTRODUCTION
1.1. RESEARCH METHODOLOGY
1.1.1. Secondary Research
1.1.2. Primary Research
1.1.3. Analyst Tools and Models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 KEY FINDINGS OF THE STUDY
2.2. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. MARKET PLAYER POSITIONING
3.4. PATENT ANALYSIS
3.5. PORTERS FIVE FORCES ANALYSIS
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Competitive Rivalry
3.6. MARKET DYNAMICS
3.6.1. Drivers
3.6.1.1. Thermoset Molding Compound: Cost-Effective Substitute for Heavy Metals
3.6.1.2. Need for Weight Reduction and Safety in Transportation & Aerospace
3.6.1.3. Rising Need for Thermally Stable And Corrosion Resistant Components
3.6.1.4. Facilitates the Production of Complex Shape Parts
3.6.2. Restraint
3.6.2.1. Volatility in Crude Oil Prices
3.6.2.2. Regulatory Challenges Regarding Hazardous Waste Emission
3.6.3. Opportunity
3.6.3.1. Increasing Demand From Emerging Economies
3.7. REGULATORY FRAMEWORK: THERMOSETTING MOLDING COMPOUNDS
3.7.1. Epoxy Resin
3.7.1.1. North America
3.7.1.2. Europe
3.7.2. Phenolic Resin
3.7.2.1. North America
3.7.2.2. Europe
3.7.2.3. Asia-Pacific
3.7.3. Polyester Resin
3.7.3.1. North America
3.7.3.2. Europe
3.7.4. Melamine & Urea Formaldehyde
3.7.4.1. North America
3.7.4.2. Europe
3.7.4.3. Asia-Pacific
3.7.4.4. LAMEA
CHAPTER 4 GLOBAL THERMOSET MOLDING COMPOUND MARKET, BY TYPE
4.1. OVERVIEW
4.1.1. Market Size and Forecast
4.2. PHENOLIC RESIN
4.2.1. Key Market Trends, Key Growth Factors, and Opportunities
4.2.2. Market Size and Forecast
4.3. EPOXY RESIN
4.3.1. Key Market Trends, Key Growth Factors, and Opportunities
4.3.2. Market Size and Forecast
4.4. POLYESTER RESIN
4.4.1. Key Market Trends, Key Growth Factors, and Opportunities
4.4.2. Market Size and Forecast
4.5. UREA FORMALDEHYDE RESIN
4.5.1. Key Market Trends, Key Growth Factors, and Opportunities
4.5.2. Market Size and Forecast
4.6. MELAMINE FORMALDEHYDE RESIN
4.6.1. Key Market Trends, Key Growth Factors, and Opportunities
4.6.2. Market Size and Forecast
4.7. OTHERS
4.7.1. Key Market Trends, Key Growth Factors, and Opportunities
4.7.2. Market Size and Forecast
CHAPTER 5 WORLD THERMOSET MOLDING COMPOUNDS MARKET, BY END-USER
5.1. OVERVIEW
5.1.1. Market Size & Forecast
5.2. AUTOMOTIVE
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size & Forecast
5.3. AEROSPACE
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size & Forecast
5.4. ELECTRICALS & ELECTRONICS
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size & Forecast
5.5. OTHERS
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size & Forecast
CHAPTER 6 THERMOSET MOLDING COMPOUND MARKET, BY GEOGRAPHY
6.1. OVERVIEW
6.1.1. Market Size and Forecast
6.2. NORTH AMERICA
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast
6.2.3. U.S.
6.2.4. Canada
6.2.5. Mexico
6.3. EUROPE
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast
6.3.3. UK
6.3.4. Germany
6.3.5. France
6.3.6. Spain
6.3.7. Italy
6.3.8. Rest of Europe
6.4. ASIA-PACIFIC
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast
6.4.3. China
6.4.4. Japan
6.4.5. Korea
6.4.6. Rest of Asia-Pacific
6.5. LAMEA
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast
6.5.3. Brazil
6.5.4. South Africa
6.5.5. Rest of LAMEA
CHAPTER 7 COMPANY PROFILES
7.1. ASHLAND GLOBAL HOLDING INC.
7.1.1. Company overview
7.1.2. Operating business segments
7.1.3. Business performance
7.1.4. Key strategic moves and developments
7.2. BASF SE
7.2.1. Company overview
7.2.2. Operating business segments
7.2.3. Business performance
7.2.4. Key strategic moves and developments
7.3. EASTMAN CHEMICAL COMPANY
7.3.1. Company overview
7.3.2. Operating business segments
7.3.3. Business performance
7.3.4. Key strategic moves and developments
7.4. EVONIK INDUSTRIES AG
7.4.1. Company overview
7.4.2. Operating business segments
7.4.3. Business performance
7.4.4. Key strategic moves and developments
7.5. HEXION INC.
7.5.1. Company overview
7.5.2. Operating business segments
7.5.3. Business performance
7.5.4. Key strategic moves and developments
7.6. HUNTSMAN CORPORATION
7.6.1. Company overview
7.6.2. Operating business segments
7.6.3. Business performance
7.6.4. Key strategic moves and developments
7.7. KOLON INDUSTRIES INC.
7.7.1. Company overview
7.7.2. Operating business segments
7.7.3. Business performance
7.8. KYOCERA CHEMICAL CORPORATION
7.8.1. Company overview
7.8.2. Operating business segments
7.8.3. Business performance
7.8.4. Key strategic moves and developments
7.9. PLASTICS ENGINEERING COMPANY (PLENCO)
7.9.1. Company overview
7.9.2. Operating business segments
7.9.3. Business performance
7.10. ROGERS CORPORATION
7.10.2. Operating business segments
7.10.3. Business performance
7.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 1. COMPARISION OF METALS WITH THERMOSET RESINS
TABLE 2. GASES EMISSION DURING THE PRODUCTION OF THERMOSET RESINS
TABLE 3. OCCUPATIONAL EXPOSURE LIMITS (OELS) FOR FORMALDEHYDE (IARC 2006, FORMACARE 2007, Q&A ON FORMALDEHYDE)
TABLE 4. THERMOSET MOLDING COMPOUNDS MARKET VOLUME, BY RESIN TYPE, 2014-2022 (KILOTONS)
TABLE 5. THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 ($MILLION)
TABLE 6. PHENOLIC MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 7. PHENOLIC MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 8. EPOXY MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 9. EPOXY MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 10. POLYESTER MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 11. POLYESTER MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 12. UREA FORMALDEHYDE MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 13. UREA FORMALDEHYDE MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 14. MELAMINE FORMALDEHYDE MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 15. MELAMINE FORMALDEHYDE MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 16. OTHER THERMOSET MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 17. OTHER THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 18. THERMOSET MOLDING COMPOUNDS MARKET VOLUME, BY END-USER, 2014-2022 (KILOTONS)
TABLE 19. THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 ($MILLION)
TABLE 20. AUTOMOTIVE THERMOSET MOLDING COMPOUNDS MARKET VOLUME, BY GEOGRAPHY, 2014-2022 (KILOTONS)
TABLE 21. AUTOMOTIVE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 22. AEROSPACE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 (KILOTONS)
TABLE 23. AEROSPACE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 24. ELECTRICALS & ELECTRONICS THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 (KILOTONS)
TABLE 25. ELECTRICALS & ELECTRONICS THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 26. OTHER APPLICATION THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 (KILOTONS)
TABLE 27. OTHER APPLICATION THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 28. THERMOSET MOLDING COMPOUNDS MARKET VOLUME, BY REGION, 2014-2022 (KILOTONS)
TABLE 29. THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 30. NORTH AMERICA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 (KILOTONS)
TABLE 31. NORTH AMERICA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 ($MILLION)
TABLE 32. NORTH AMERICA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 (KILOTONS)
TABLE 33. NORTH AMERICA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 ($MILLION)
TABLE 34. EUROPE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 (KILOTONS)
TABLE 35. EUROPE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 ($MILLION)
TABLE 36. EUROPE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 (KILOTONS)
TABLE 37. EUROPE THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 ($MILLION)
TABLE 38. ASIA-PACIFIC THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 (KILOTONS)
TABLE 39. ASIA-PACIFIC THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 ($MILLION)
TABLE 40. ASIA-PACIFIC THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 (KILOTONS)
TABLE 41. ASIA-PACIFIC THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 ($MILLION)
TABLE 42. LAMEA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 (KILOTONS)
TABLE 43. LAMEA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY RESIN TYPE, 2014-2022 ($MILLION)
TABLE 44. LAMEA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 (KILOTONS)
TABLE 45. LAMEA THERMOSET MOLDING COMPOUNDS MARKET REVENUE, BY END-USERS, 2014-2022 ($MILLION)
TABLE 46. ASHLAND: COMPANY SNAPSHOT
TABLE 47. ASHLAND: OPERATING SEGMENTS
TABLE 48. BASF: COMPANY SNAPSHOT
TABLE 49. BASF: OPERATING SEGMENTS
TABLE 50. EASTMAN: COMPANY SNAPSHOT
TABLE 51. EASTMAN: OPERATING SEGMENTS
TABLE 52. EVONIK: COMPANY SNAPSHOT
TABLE 53. EVONIK: OPERATING SEGMENTS
TABLE 54. HEXION INC.: COMPANY SNAPSHOT
TABLE 55. HEXION INC.: OPERATING SEGMENTS
TABLE 56. HUNTSMAN CORPORATION: COMPANY SNAPSHOT
TABLE 57. HUNTSMAN CORPORATION: OPERATING SEGMENTS
TABLE 58. KOLON: COMPANY SNAPSHOT
TABLE 59. KYOCERA: COMPANY SNAPSHOT
TABLE 60. PLENCO: COMPANY SNAPSHOT
TABLE 61. ROGERS: COMPANY SNAPSHOT
LIST OF FIGURES
FIGURE 1. SEGMENTATIONS: THERMOSET MOLDING COMPOUND MARKET
FIGURE 2. TOP INVESTMENT POCKETS, BY END-USER
FIGURE 3. TOP WINNING STRATEGIES, 2013-2016(%)
FIGURE 4. TOP WINNING STRATEGIES, BY KEY COMPANY (2013-2016)
FIGURE 5. KEY MARKET PLAYER POSITIONING
FIGURE 6. PATENT ANALYSIS BY YEAR, 2012-2016
FIGURE 7. PATENT ANALYSIS BY COMPANY, 2012-2016 (%)
FIGURE 8. PATENT ANALYSIS BY REGION, 2012-2016 (%)
FIGURE 9. PATENT ANALYSIS BY PRODUCT, 2012-2016 (%)
FIGURE 10. AUTOMOTIVE INDUSRTY GROWTH, 2014-2022
FIGURE 11. FLUCTUATING COST OF CRUDE OIL, 2013-2025
FIGURE 12. THERMOSET MOLDING COMPOUND MARKET, BY TYPE
FIGURE 13. THERMOSET MOLDING COMPOUND MARKET, BY END-USER
FIGURE 14. THERMOSET MOLDING COMPOUND MARKET, BY GEOGRAPHY
FIGURE 15. ASHLAND: NET SALES, 2014-2016 ($MILLION)
FIGURE 16. ASHLAND: NET SALES BY SEGMENT, 2016 (%)
FIGURE 17. ASHLAND: NET SALES BY GEOGRAPHY, 2016 (%)
FIGURE 18. ASHLAND: STRATEGY SHARE, 2014-2016 (%)
FIGURE 19. BASF: NET SALES, 2013-2015 ($MILLION)
FIGURE 20. BASF: NET SALES BY SEGMENT, 2015 (%)
FIGURE 21. BASF: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 22. BASF: STRATEGY SHARE, 2015 (%)
FIGURE 23. EASTMAN: NET SALES, 2013-2015 ($MILLION)
FIGURE 24. EASTMAN: NET SALES BY SEGMENT, 2015 (%)
FIGURE 25. EASTMAN: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 26. EASTMAN: STRATEGY SHARE, 2015 (%)
FIGURE 27. EVONIK: NET SALES, 2013-2015 ($MILLION)
FIGURE 28. EVONIK: NET SALES BY SEGMENT, 2015 (%)
FIGURE 29. EVONIK: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 30. EVONIK: STRATEGY SHARE, 2015 (%)
FIGURE 31. HEXION INC.: NET SALES, 2013-2015 ($MILLION)
FIGURE 32. HEXION INC.: NET SALES BY SEGMENT, 2015 (%)
FIGURE 33. HEXION INC.: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 34. HEXION INC.: STRATEGY SHARE, 2015 (%)
FIGURE 35. HUNTSMAN CORPORATION: NET SALES, 2013-2015 ($MILLION)
FIGURE 36. HUNTSMAN CORPORATION: NET SALES BY SEGMENT, 2015 (%)
FIGURE 37. HUNTSMAN CORPORATION: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 38. HUNTSMAN: STRATEGY SHARE, 2015 (%)
FIGURE 39. KOLON: OPERATING SEGMENTS
FIGURE 40. KOLON: NET SALES, 2013-2015 ($MILLION)
FIGURE 41. KYOCERA: OPERATING SEGMENTS
FIGURE 42. KYOCERA: NET SALES, 2013-2015 ($MILLION)
FIGURE 43. KYOCERA: NET SALES BY SEGMENT, 2015 (%)
FIGURE 44. KYOCERA: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 45. EVONIK: STRATEGY SHARE, 2015 (%)
FIGURE 46. PLENCO: OPERATING SEGMENTS
FIGURE 47. ROGERS: OPERATING SEGMENTS
FIGURE 48. ROGERS: NET SALES, 2013-2015 ($MILLION)
FIGURE 49. ROGERS: NET SALES BY SEGMENT, 2015 (%)
FIGURE 50. ROGERS: NET SALES BY GEOGRAPHY, 2015 (%)
FIGURE 51. ROGERS: STRATEGY SHARE, 2015 (%)
Thermoset molding compounds have superior dimensional stability, electrical insulation capabilities, high flexural strength, and high-heat resistance that makes them suitable for broad range of end-use applications. The types of thermosetting molding compounds available in the market are phenolic resin, epoxy resin, polyester resin, urea formaldehyde, and melamine formaldehyde. Polyester resin account for highest share, occupying one-third of the global market.
Thermoset molding compounds are used in numerous end-user industries such as automotive, aerospace, and electrical & electronics. Amongst them, electrical & electronics end-user segment accounted for highest market share, occupying one-third of the global market. Automotive is the fastest growing segment, at a CAGR of 6.9% during the forecast period due to the increase in demand for durability and improved fuel economy in this sector.
Asia-Pacific is the most prominent market for thermoset molding compounds in terms of both volume and revenue. China is the major consumer of thermoset molding compounds and is expected to maintain its lead throughout the forecast period. Rapid growth in urbanization, increase in disposable income, and rise in demand from end-use industries are the major factors responsible for high market growth in this region.
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