The thermoset plastics market is projected to grow at a CAGR of 3.44% during the forecast period 2025 to 2030.
Thermoset plastics are polymers that irreversibly harden when heated. This process involves applying heat to a liquid or soft solid substance, which provides the energy needed for chemical reactions to occur. These reactions increase cross-linking between polymer chains, resulting in the formation of a rigid material known as thermosetting plastic.
Thermosetting polymers are characterized by a three-dimensional network of chemical linkages, which gives them exceptional strength. They are highly suitable for high-temperature applications, as they remain stable up to their decomposition temperature. Their high aromatic content and cross-link intensity make them resistant to heat degradation and chemical degradation. However, while increased cross-link density enhances mechanical strength and hardness, it also makes thermosetting plastics brittle, causing them to disintegrate before melting.
A significant drawback of thermosetting polymers is their inability to be melted and remolded after curing. This property limits their recyclability, posing challenges for sustainable use.
Thermosetting plastics are widely used by original equipment manufacturers (OEMs) and in the production of replacement parts. They are employed in factory-finished structural composites, composite repair, and protective materials.
Rising utilization in the construction industry is augmenting the demand for thermoset plastics
The construction industry is the largest end-user of thermosetting plastics. Key applications include adhesives, sealants, thermal insulation, roofing, pipelines, bridge construction, and the repair and rehabilitation of civil structures. The construction sector is expanding rapidly in emerging Asian economies like India, China, Malaysia, and ASEAN countries, driven by population growth and infrastructure development.
For instance, the Indian construction sector has seen significant growth due to increased government investment. Initiatives like "Housing for All by 2022" initiative launched in 2015 aimed to have built 20 million homes by 2022. While the deadline has passed, the program continues to influence demand, with the Ministry of Housing and Urban Affairs reporting over 11 million homes completed by 2024. Additionally, the Smart Cities Mission, targeting 100 cities, and a projected need for 30 million homes by 2030, will continue to sustain thermoset demand. The robust IT-ITeS sector further drives commercial real estate growth, amplifying market opportunities.
Innovations in recyclable thermosets will also boost the market growth.
In the near future, recyclable thermosets are expected to replace conventional thermosetting plastics. Researchers are focusing on improving the properties of thermosets and developing new materials, such as polyhexahydrotriazine (PHT), a recyclable thermosetting plastic. To remain competitive, companies are investing heavily in research and development (R&D) to create innovative and upgraded products.
In June 2020, Huntsman Corporation acquired CVC Thermoset Specialties, a North American specialty chemical producer. CVC’s expertise in toughening, curing, and other additives aligns with Huntsman’s strategy to expand its specialty advanced materials portfolio. These products offer enhanced performance in harsh environments, including durability, flexibility, and resistance to chemicals, cracks, and impacts.
Utilization in composite manufacturing is also aiding in the market growth.
Thermoset plastics play a significant role in the global polymer market, particularly in the production of composites. Their demand is driven by applications in industries such as aerospace, automotive, and consumer electronics. As a result, the use of thermoset plastics is expected to grow significantly in the coming years.
Asia Pacific dominates the global thermoset plastic market
The Asia Pacific region is expected to dominate the thermosetting plastics market during the forecast period. China and India are the key drivers of this growth, supported by government initiatives to build smart cities and modern infrastructure. For example, in 2019, the Chinese government approved 26 infrastructure projects worth USD 142 billion, which are expected to be completed by 2025. The growing demand for housing in both the public and private sectors is also driving residential construction in the region.
The global thermoset plastics market report deep-dives into the global industry landscape and provides a strategic and executive level-level insights complemented by data-driven analysis and forecasts. The report is updated regularly to help the decision-makers with actionable intelligence into the current market trends, emerging opportunities and competitive intelligence. The report also explores the demand for different types of material type such as epoxies, phenolic, polyesters, aromatics, aliphatic, amines, and silicon etc. and showcases their demand across geographies. The latest technological advancements in the thermoset plastics sector in addition to key government policies and regulations and macroeconomic factors are also analyzed to present a holistic view of the market.
The Thermoset Plastics Market is analysed by material type into the following:
Thermoset Plastics Market Segmentation by thermoset molding process type:
Reactive injection molding is one of the largest market segments. The report analysed the Thermoset Plastics Market into different services as below:
Thermoset Plastics Market Segmentation by industry vertical:
The report analysed the Thermoset Plastics Market across 6 industries as following:
Thermoset Plastics Market Segmentation by regions:
The study also analysed the Thermoset Plastics Market into the following regions, with country level forecasts and analysis as below:
The global thermoset plastics market is marked by the presence of key players such as B & B Plastics Inc, B. Schoenberg & Co., Inc., PARC Corporation, Custom Polymers, Inc., American Packaging Corporation, United Plastic Recycling, Inc., Norwich Plastics, Inc., Berry Global Group, Inc., Teijin Limited, and DuPont de Nemours, Inc. among others.
This report provides extensive coverage as explained in the points below:
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| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 3.44% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Thermoset Plastics Market | |
| Customization Scope | Free report customization with purchase |