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    Thermosetting Plastics Market

    ID: MRFR/CnM/23890-HCR
    111 Pages
    Chitranshi Jaiswal
    October 2025

    Thermosetting Plastics Market Research Report: By Product Type (Epoxy Resins, Phenolic Resins, Polyester Resins, Unsaturated Polyester Resins, Alkyd Resins, Silicone Resins, Polyurethane Resins, Furan Resins), By Application (Automotive & Transportation, Electrical & Electronics, Construction, Aerospace & Defense, Marine, Oil & Gas, Medical & Healthcare, Consumer Goods), By End-Use Industry (Automotive, Construction, Electrical and Electronics, Industrial, Aerospace, Consumer Goods, Medical), By Manufacturing Process (Com...

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    Thermosetting Plastics Market Infographic
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    Summary Table of Contents Segmentation Download PDF

    Thermosetting Plastics Market Summary

    The global thermosetting plastics market is projected to grow from 15.38 USD billion in 2024 to 22.18 USD billion by 2035.

    Key Market Trends & Highlights

    Thermosetting Plastics Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 3.38 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 22.2 USD billion, indicating robust growth potential.
    • in 2024, the market is valued at 15.38 USD billion, reflecting a solid foundation for future expansion.
    • Growing adoption of thermosetting plastics in various industries due to their superior thermal stability is a major market driver.

    Market Size & Forecast

    2024 Market Size 15.38 (USD Billion)
    2035 Market Size 22.18 (USD Billion)
    CAGR (2025-2035) 3.38%

    Major Players

    Mitsubishi Chemical Holdings Corporation, BASF, SEDIC Corporation, JSR Corporation, LG Chem Ltd., Hexion Inc., DSM, LyondellBasell Industries Holdings BV, Evonik Industries AG, INEOS Group Holdings S.A., Celanese Corporation, Covestro AG, Huntsman Corporation, Ashland Holdings Inc., SABIC

    Thermosetting Plastics Market Trends

    The thermosetting plastics market is witnessing a surge in demand, driven by their superior heat resistance, dimensional stability, and mechanical strength. They are increasingly used in a wide range of applications, including automotive, aerospace, electrical and electronics, construction, and healthcare. The growing adoption of thermosetting plastics in composite materials is also propelling market growth.The key market drivers for thermosetting plastics include the rising demand for lightweight and durable materials in the automotive and aerospace industries, the expansion of the construction sector in emerging economies, and the increasing use of electronics and electrical appliances.

    Furthermore, government regulations mandating the use of energy-efficient materials are driving the adoption of thermosetting plastics, particularly in the building and construction sector.Emerging opportunities in the thermosetting plastics market lie in the development of bio-based and sustainable materials, as well as the exploration of new applications in additively manufactured products. The trend towards miniaturization and the need for high-performance materials in electronic devices present significant growth opportunities for thermosetting plastics manufacturers.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    The demand for thermosetting plastics is anticipated to rise as industries increasingly seek materials that offer durability and resistance to heat, chemicals, and mechanical stress.

    U.S. Department of Commerce

    Thermosetting Plastics Market Drivers

    Rising Demand in Automotive Sector

    The automotive industry plays a pivotal role in driving the Global Thermosetting Plastics Market Industry. With an increasing focus on lightweight materials to enhance fuel efficiency and reduce emissions, thermosetting plastics are gaining traction. These materials are utilized in various automotive components, including dashboards and electrical housings. The market is projected to reach 15.4 USD Billion in 2024, reflecting a growing preference for durable and heat-resistant materials. As manufacturers strive to meet stringent environmental regulations, the adoption of thermosetting plastics is likely to expand, contributing to an anticipated CAGR of 3.38% from 2025 to 2035.

    Market Segment Insights

    Thermosetting Plastics Market Product Type Insights

    The 'Product Type' segment is a critical aspect of the Thermosetting Plastics Market. Its segmentation comprises various types of thermosetting plastics, including Epoxy Resins, Phenolic Resins, Polyester Resins, Unsaturated Polyester Resins, Alkyd Resins, Silicone Resins, Polyurethane Resins, and Furan Resins. Each of these product types holds a unique position in the market, catering to distinct applications and industries. These resins find extensive application in various industries, including aerospace, automotive, and electronics. Phenolic Resins, known for their fire-resistant and molding properties, are primarily used in electrical components, automotive parts, and construction materials.

    Polyester Resins, particularly Unsaturated Polyester Resins, are widely utilized in fiberglass-reinforced plastics due to their low cost and high strength-to-weight ratio. These resins are commonly employed in boat hulls, automotive parts, and storage tanks. Alkyd Resins, on the other hand, are commonly used in paints and coatings industries due to their excellent adhesion and durability. Silicone Resins, characterized by their heat resistance and flexibility, are employed in high-temperature applications, including aerospace and electronics.

    Polyurethane Resins, known for their versatility and toughness, find application in a wide range of industries, including automotive, construction, and furniture.Furan Resins, possessing excellent chemical resistance and high-temperature stability, are primarily used in foundries and corrosion-resistant coatings. The Thermosetting Plastics Market is expected to witness significant growth in the coming years, driven by increasing demand from various end-use industries such as automotive, electronics, construction, and aerospace. The rising adoption of lightweight materials and the growing emphasis on energy efficiency are further contributing to the market growth.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Thermosetting Plastics Market Application Insights

    The described market is composed of various applications, which include Automotive Transportation, Electrical Electronics, Construction, Aerospace Defense, Marine, Oil Gas, Medical Healthcare, and Consumer Goods. Each of the identified segments has a vast number of growth opportunities and distinct challenges, which determine the way it contributes to the industry.

    Thus, the Automotive Transportation segment is one of the primary customers of thermosetting plastics, as they are used in this area due to being lightweight, durable, and having good thermal and chemical resistance.The growing interest in light and fuel-saving automobiles implies that more of these materials will be used to produce different parts of the cars, including body panels, bumper, and interior parts. Simultaneously, the Electrical Electronics segment is one of the most perspective applications areas, where thermosetting plastics can be used.

    They are adopted in the industry as they have excellent electrical insulating properties and are used to create electrical components of different sizes, such as casks for equipment, circuit boards, and insulators.Considering the increasing number of electric devices and the widespread use of the Internet of Things, the demand for these materials will increase in this segment. The Construction application is also one of the most important for thermosetting plastics as the latter are used to create building materials.

    The reason for this is that they are durable, weather, and fire-resistant; thus, they can be used to create roofing, siding, and flooring. The recent urbanization and the urgent need for new housing will considerably boost the use of these materials.Finally, the aerospace and defense segment also requires high-performing materials, as many of the parts, such as missiles, are exposed to high temperatures, chemicals, and mechanic shock.

    As for the other segments, such as Marine, Oil Gas, Medical Healthcare, and Consumer Goods applications, they are also directly related to the thermosetting plastics market, but for this reason, their contribution to the field is not as profound as those described above.

    Thermosetting Plastics Market End-Use Industry Insights

    The end-use industry segment plays a crucial role in shaping the dynamics of the Thermosetting Plastics Market. Among the key end-use industries, automotive, construction, electrical and electronics, industrial, aerospace, consumer goods, and medical sectors are prominent drivers of market growth.The automotive industry utilizes thermosetting plastics for various components due to their durability, heat resistance, and lightweight properties.

    In 2023, the automotive segment accounted for a significant share of the Thermosetting Plastics Market revenue, and this trend is expected to continue in the coming years.The construction industry also presents a substantial market for thermosetting plastics, primarily for applications such as pipes, fittings, flooring, and roofing. The increasing demand for infrastructure development and renovation projects is expected to fuel the growth of this segment. Electrical and electronics is another key end-use industry, where thermosetting plastics are used for electrical insulation, printed circuit boards, and electronic components.

    The growing adoption of electronic devices and the expansion of the electronics industry are driving the demand for thermosetting plastics in this segment.Industrial applications also represent a significant market for thermosetting plastics. These materials are used in machinery, equipment, and industrial components due to their strength, dimensional stability, and resistance to harsh environments. Aerospace, consumer goods, and medical industries also contribute to the growth of the Thermosetting Plastics Market. In aerospace, thermosetting plastics are used for lightweight and durable aircraft components. In consumer goods, they find applications in appliances, furniture, and sporting goods.Medical applications include medical devices, surgical instruments, and prosthetics.

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    Regional Insights

    The Thermosetting Plastics Market is segmented into North America, Europe, APAC, South America, and MEA. The APAC region is expected to dominate the market in terms of revenue, accounting for a share of over 40% by 2024. The growth of the APAC market is attributed to the increasing demand for thermosetting plastics in various industries such as automotive, electronics, and construction.

    The North American and European markets are also expected to witness significant growth, driven by the increasing adoption of lightweight materials in various applications.The South American and MEA markets are expected to grow at a moderate pace, owing to the growing demand for thermosetting plastics in the automotive and construction industries.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    Major players in the Thermosetting Plastics Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and acquiring other businesses. Leading Thermosetting Plastics Market players are focusing on developing innovative products that meet the evolving needs of customers. For instance, in 2023, SABIC introduced a new range of high-performance thermosetting compounds that offer improved strength, heat resistance, and chemical resistance. This move is expected to help the company strengthen its position in the market.

    Thermosetting Plastics Market development is also driven by the increasing adoption of lightweight materials in various industries, such as automotive and aerospace.DSM is a leading supplier of thermosetting plastics. The company offers a wide range of products, including epoxy resins, phenolic resins, and unsaturated polyester resins. DSM's thermosetting plastics are used in a variety of applications, including automotive parts, electrical components, and construction materials. The company has a strong presence, with manufacturing facilities in Europe, Asia, and the Americas.

    DSM is focused on innovation and sustainability, and it is investing in the development of new, more environmentally friendly thermosetting plastics.Hexion is a leader in the production and supply of thermosetting resins. The company offers a wide range of products, including epoxy resins, phenolic resins, and unsaturated polyester resins. Hexion's thermosetting resins are used in a variety of applications, including automotive parts, electrical components, and construction materials. The company has a strong presence, with manufacturing facilities in Europe, Asia, and the Americas.

    Hexion is focused on innovation and sustainability, and it is investing in the development of new, more environmentally friendly thermosetting resins.

    Key Companies in the Thermosetting Plastics Market market include

    Industry Developments

    The thermosetting plastics market is projected to reach USD 19.4 billion by 2032, exhibiting a CAGR of 3.38% during the forecast period. Increasing demand from the automotive and aerospace industries, coupled with the growing adoption of lightweight and high-performance materials, is driving market growth. Furthermore, rising investments in infrastructure development and the increasing use of thermosetting plastics in electronics and electrical applications are contributing to market expansion. Recent developments include the launch of bio-based thermosetting plastics, offering sustainable alternatives to traditional materials.

    Additionally, advancements in manufacturing technologies, such as 3D printing, are creating new opportunities for the use of thermosetting plastics in complex and customized applications.

    Future Outlook

    Thermosetting Plastics Market Future Outlook

    The Global Thermosetting Plastics Market is projected to grow at a 3.38% CAGR from 2025 to 2035, driven by advancements in automotive and aerospace applications, increasing demand for lightweight materials, and sustainability initiatives.

    New opportunities lie in:

    • Invest in R&D for bio-based thermosetting plastics to meet sustainability demands.
    • Expand product lines to include high-performance composites for aerospace applications.
    • Leverage digital technologies for enhanced manufacturing processes and supply chain efficiency.

    By 2035, the market is expected to demonstrate robust growth, reflecting evolving industry needs and technological advancements.

    Market Segmentation

    Thermosetting Plastics Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Thermosetting Plastics Market Resin Type Outlook

    • Thermoset Resins
    • Duroplastic Resins
    • Polymers

    Thermosetting Plastics Market Application Outlook

    • Automotive Transportation
    • Electrical Electronics
    • Construction
    • Aerospace Defense
    • Marine
    • Oil Gas
    • Medical Healthcare
    • Consumer Goods

    Thermosetting Plastics Market Product Type Outlook

    • Epoxy Resins
    • Phenolic Resins
    • Polyester Resins
    • Unsaturated Polyester Resins
    • Alkyd Resins
    • Silicone Resins
    • Polyurethane Resins
    • Furan Resins

    Thermosetting Plastics Market End-Use Industry Outlook

    • Automotive
    • Construction
    • Electrical and Electronics
    • Industrial
    • Aerospace
    • Consumer Goods
    • Medical

    Thermosetting Plastics Market Manufacturing Process Outlook

    • Compression Molding
    • Injection Molding
    • Transfer Molding
    • Cast Molding
    • Hand Lay-up

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024 15.38 (USD Billion)
    Market Size 2025 15.90 (USD Billion)
    Market Size 2035 22.18 (USD Billion)
    Compound Annual Growth Rate (CAGR) 3.38% (2025 - 2035)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2020 - 2024
    Market Forecast Units USD Billion
    Key Companies Profiled Mitsubishi Chemical Holdings Corporation, BASF SE, DIC Corporation, JSR Corporation, LG Chem Ltd., Hexion Inc., DSM, LyondellBasell Industries Holdings BV, Evonik Industries AG, INEOS Group Holdings S.A., Celanese Corporation, Covestro AG, Huntsman Corporation, Ashland Holdings Inc., SABIC
    Segments Covered Product Type, Application, End-Use Industry, Manufacturing Process, Resin Type, Regional
    Key Market Opportunities 1 Lightweight Automotive Components2 Electronics and Electrical Applications3 Aerospace and Defense Composites4 Construction and Infrastructure
    Key Market Dynamics Growing demand in transportation infrastructure and electronics Technological advancements and new product launches Increasing adoption in construction and automotive industries. Environmental concerns driving the demand for sustainable materials Stringent government regulations on plastics usage.
    Countries Covered North America, Europe, APAC, South America, MEA 

    FAQs

    What is the estimated market size of the Thermosetting Plastics Market in 2024?

    The Thermosetting Plastics Market is estimated to be valued at around USD 15.90 Billion in 2025, showcasing a steady growth trajectory.

    What is the projected CAGR of the Thermosetting Plastics Market?

    Thermosetting Plastics Market is projected to register a CAGR of 3.38% from 2025-2035

    Which region is expected to dominate the Thermosetting Plastics Market?

    The Asia-Pacific region is projected to lead the Thermosetting Plastics Market throughout the forecast period, primarily driven by the increasing demand from industries such as automotive, electronics, and construction in the region.

    What are the key applications of Thermosetting Plastics?

    Thermosetting Plastics find extensive applications across various industries, including automotive components, electrical and electronics, aerospace, construction, and consumer goods, owing to their exceptional properties such as high strength, dimensional stability, and resistance to heat and chemicals.

    Who are the major players in the Thermosetting Plastics Market?

    The Thermosetting Plastics Market is characterized by the presence of several prominent players, including BASF, Huntsman Corporation, SABIC, Ashland Holdings Inc., and Hexion Inc., among others. These companies focus on innovation, product development, and strategic partnerships to maintain their competitive edge.

    What are the major growth drivers of the Thermosetting Plastics Market?

    The growth of the Thermosetting Plastics Market is primarily attributed to factors such as increasing demand for lightweight and durable materials in the automotive and aerospace industries, rising construction activities, and growing adoption in electrical and electronics applications.

    What are the challenges faced by the Thermosetting Plastics Market?

    The Thermosetting Plastics Market faces certain challenges, including intense competition, volatile raw material prices, and environmental concerns associated with the production and disposal of thermosetting plastics.

    What are the emerging trends in the Thermosetting Plastics Market?

    The Thermosetting Plastics Market is witnessing the emergence of several trends, such as the development of bio-based and sustainable thermosetting plastics, advancements in manufacturing technologies, and increasing adoption of lightweight and high-performance composites.

    Which industry is anticipated to drive the demand for Thermosetting Plastics?

    The automotive industry is anticipated to be a major driver of demand for Thermosetting Plastics, particularly for lightweight and durable components such as body panels, interior parts, and electrical components.

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