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  • Thermoset Composites Market worth 57.98 Billion USD by 2021

     



    (Aviation-NewsWire.Com, November 02, 2019 ) The report "Thermoset Composites Market by Manufacturing Process (Lay-Up, Filament Winding, Injection Molding, Pultrusion), Fiber Type (Glass, Carbon), Resin Type (Polyester, Epoxy, Vinyl Ester), End-Use Industry, and Region - Global Forecast to 2021", The thermoset composites market was valued at USD 41.98 Billion in 2016, and is projected to reach USD 57.98 Billion by 2021, at a CAGR of 6.67% during the forecast period.

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    Growth of this market is mainly attributed to the fact that thermoset composites help increase the strength and stiffness of structural parts. In addition, the increasing adoption of thermoset composites in varied end-use industries such as automotive and aerospace & defense, among others, has contributed to the growth of this market.

    Epoxy resin comprises a major share of the thermoset composites market, in terms of value

    Epoxy resin-based composites are used in various industries such as aerospace & defense, transportation, wind energy, pipe & tank, and marine, among others. These composites encompass properties such as high stiffness, chemical resistance, and high tensile strength. On account of these properties, epoxy resin-based composites have been widely utilized across varied end-use industries.

    Glass fiber is the largest fiber type for thermoset composites, in terms of volume

    Glass fiber thermoset composites offer better fabrication adaptability, high durability, and high strength-to-weight ratio. Glass fibers can be used in lay-up, weaving, filament winding, and pultrusion processes for manufacturing composite parts for various end-use industries, such aerospace & defense, transportation, and wind energy.

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    Browse in-depth TOC on "Thermoset Composites Market”
    86 - Market Data Tables
    70 - Figures
    183 - Pages

    Asia-Pacific accounts for a major share of the thermoset composites market

    The growth of the thermoset composites market in the Asia-Pacific region is driven by the expansion of the construction & infrastructure, wind energy, and transportation industries in this region. Some of the leading players such as Owens Corning (U.S.) and Toray Industries, Inc. (Japan) have enhanced their R&D efforts to provide good quality thermoset composites products. In addition, rapid economic development and industrialization in the Asia-Pacific region are providing an impetus for the growth of the thermoset composites market.

    Key players operating in the thermoset composites market include Owens Corning (U.S.), Toray Industries, Inc. (Japan), Hexcel Corporation (U.S.), Jushi Group (China), and Teijin Limited (Japan), among others. These players have adopted various organic and inorganic developmental strategies to enhance their presence in the thermoset composites market.

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    About MarketsandMarkets™

    MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

    Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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    Source: EmailWire.Com

    Source: EmailWire.com

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