Thermoset Molding Compound Market
Report ID: SQMIG30H2294
Report ID: SQMIG30H2294
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Report ID:
SQMIG30H2294 |
Region:
Global |
Published Date: January, 2026
Pages:
192
|Tables:
9
|Figures:
63
Global Thermoset Molding Compound Market size was valued at USD 11.89 Billion in 2024 and is poised to grow from USD 12.63 Billion in 2025 to USD 20.44 Billion by 2033, growing at a CAGR of 6.2% during the forecast period (2026–2033).
The global thermoset molding compound market growth is driven due to demand in the automotive, electrical, and aerospace industries for thermoset molding compounds for its heat resistance, durability, and lightweight characteristics. In addition, the rise in acceptance of eco-friendly composites, developments in material technology, and infrastructural development and urbanization in emerging nations further augments growth. The government regulations that promote energy efficient materials positively influence the growth of the thermoset molding compound market. In addition, the growing shift to electric vehicles, renewable energy applications, and demand for energy efficient materials provide more opportunities that build off the momentum of growth in the thermoset molding compound market.
What Makes AI Integration Crucial for Thermoset Molding Compound Market?
The adoption of AI technology is essential for the thermoset molding compound industry, as it increases production efficiency, decreases waste of materials, and optimizes quality control parameters. The machine learning algorithm can predict the best parameters of cure times and temperatures to improve the consistency of the finished product. AI automated manufacturing is also efficient and cost-effective as it creates a faster time-to-market. In addition, AI analytics allow for identification of global, regional, and temporal trends with respect to material performance, changing demands from the customer, and makes R&D funding proposals smarter. With increasing pressure to become more sustainable, AI can help research eco-friendly formulations and assure developers stay compliant with local regulations.
One of these applications of AI in the industry was seen in 2025 when Hexion Inc. employed AI-based process analytics to improve resin formulation and, for example, to reduce energy usage.
Market snapshot - 2026-2033
Global Market Size
USD 11.05 Billion
Largest Segment
Polyester Resin
Fastest Growth
Phenolic Resin
Growth Rate
6.84% CAGR
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Global Thermoset Molding Compound Market is segmented by Resin Type, Form Type, End-Use Industry and region. Based on Resin Type, the market is segmented into Phenolic Resin, Epoxy Resin, Polyester Resin, Urea Formaldehyde Resin, Melamine Formaldehyde Resin and Others. Based on Form Type, the market is segmented into Bulk Molding Compound (BMC), Sheet Molding Compound (SMC), Spray-Up / Hand Lay-Up, Compression Molding and Transfer / Injection Molding. Based on End-Use Industry, the market is segmented into Electrical & Electronics, Automotive & Transportation, Aerospace & Defence, Construction & Infrastructure and Consumer Goods & Appliances. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per the global thermoset molding compound market analysis, Polyester resin is the leading thermoset molding compound, with advantageous features such as cost, versatility, and mechanical properties. Polyester resin has high strength and resistance to corrosion and chemical attack. This, combined with ease of processing makes polyester resin most suited for applications in the automotive, construction, and marine industries. Polyester resin is also compatible with various fillers and reinforcing materials to improve performance. Fast curing or hardening times reduce production time. Polyester resins are also less expensive than epoxy and phenolic resins, which leads to their widespread use in many industries.
Whereas the demand for phenolic resin is expected to grow due to its superior heat resistance, flame retardancy and electrical insulation properties which have made phenolic resin's growing use in automotive, electronics, and construction applications. Reportedly, phenolic resin is being more frequently utilized in circuit boards, adhesives, and fire-resistant materials, along with using phenolic resin to address stricter regulations for fire safety. It also appeals to manufacturers of phenolic resin products, due to the lower cost of phenolic resin, when compared to alternatives, along with phenolic resin's durability.
Based on the global thermoset molding compound market forecast, the automotive industry drives the market owing to rising demand for lightweight, heat-resistant, and durable materials in electric vehicles and conventional cars. These compounds help enhance fuel efficiency, decrease emissions, and withstand the demands of high-temperature components, such as batteries and engine components. Stringent emissions regulations and the transition to electric vehicles are furthering adoption and establishing the automotive industry as the leading segment.
The electrical & electronics segment is expected to have the largest global thermoset molding compound market share, as of the rising demand for high-performance insulation materials in printed circuit boards (PCBs), connectors and switches. These materials have the flame resistance, thermal stability and dielectric strength to meet the requirements of miniaturized, energy-efficient devices. Developments in the 5G and IoT sectors, as well as the advancement of renewable energy materials are driving growth in this domain.
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As a result of robust demand from the automotive, aerospace, and electrical & electronics sectors, advances in manufacturing capabilities, and an advanced regional supply chain, North America is at the forefront of the thermoset molding compound market. The strict regulations regarding fire safety and emissions help promote and increase this material's adoption among manufacturers, while R&D spending to produce high-performance materials will further cement its position. The increasing effort in lightweight and sustainable solutions will also contribute to an elevated market growth rate.
The thermoset molding compound market has been considered a powerful market in the U.S. due to a healthy demand from automotive, aerospace, and electrical sectors with modernized manufacturing and stringent safety requirements. Continuous development of newer and stronger lightweight materials, alongside increased production of electric vehicles, further creates potential growth for this segment of the market. Sustained government initiatives surrounding sustainability and increased investments in R&D will help fortify its position in North America.
The Canada thermoset molding compound market is growing steadily. Demand from the automotive, aerospace, and construction sectors is a major factor. The focus on lightweight, durable materials and eco-friendly composites fits with the country’s sustainability goals. Being close to the U.S. supply chain and investing in green technologies also support this market expansion.
The thermoset molding compound market is currently seeing rapid growth in the Asia-Pacific region as a result of the ongoing industrialization of the region along with the booming automotive and electronics industries, and increasing infrastructure investments. China and India have also been the primary countries driving demand in the region, as they have some of the most cost-effective production as well as growing manufacturing hubs, and with the government initiatives demonstrating - lightweight and high-performance materials as an incentive. Rapid urbanization and adoption of EVs are yet boosting demand in the region.
The thermoset molding compound market in Japan thrives on the performance demands of high-performance, heat-resistant materials from the automotive and electronics industries. There is emphasis on precision engineering and lightweighting methods for electric vehicles. Strict quality standards stimulate innovations. Government support for sustainable manufacturing and strong research and development in advanced composites bolster its position in Asia-Pacific.
China is leading the thermoset molding compound market as it is the largest producer and consumer. This growth is driven by its large electronics, automotive, and infrastructure sectors. The need for lightweight EV fittings, as well as incentives for extending the 5G infrastructure, is being felt more than ever. Domestic manufacturers benefit from being able to produce components at low costs, completing fully developed supply chains, and growing investments in research and development for formulations resistant to high temperatures for aerospace and renewable energy applications.
The effective contribution of the European region in the thermoset molding compound segment of the market is driven by strict policies regarding sustainability, along with many advanced automotive and aerospace industry, focusing on lightweight, eco-friendly materials, and established research and development into high-performance composites. Germany, France and the United Kingdom are typically the leaders of adoption because of their support for circular economy principles and other alternative energy projects.
Germany leads Europe's thermoset molding compound market. This is due to its strong automotive and industrial sectors that need high-performance materials. The focus of the country on precision engineering and sustainability, and the adoption of Industry 4.0 improves composite applications. Strong research and development in lightweight solutions for electric vehicles and renewable energy, along with rigorous EU regulations, give it an added advantage in high-value thermoset innovations.
France's thermoset molding compound market is supported by its strong aerospace, automotive, and renewable energy sectors. These industries need high-performance, lightweight materials. The country's emphasis on sustainable manufacturing and circular economy principles fosters innovation in eco-friendly composites. Government support for green technologies and partnerships with EU partners further improve its position in material solutions.
The UK thermoset molding compound market is driven by its aerospace, automotive, and renewable energy sectors, which focus on lightweight, durable materials. Strict environmental rules and an emphasis on sustainable composites push for innovation. They have robust research and development capacity and allied with suppliers in the EU. However, changes resulting from Brexit in the supply chain have presented challenges as well as opportunities for domestic production.
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Technological Advancements Driving Innovation
Stringent Environmental Regulations Shaping Demand
High Production Costs Limiting Market Penetration
Recycling Challenges and Environmental Concerns
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Leading market players are investing heavily in research and development in order to expand their product lines, which will help the thermoset molding compound market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the thermoset molding compound industry must offer cost-effective items. Manufacture locally with an attempt to cut operational costs, which is one of the most common strategic business moves for manufacturers venturing in the thermosetting molding compound market; integers of benefits for customers and have potential to expand market segment. In recent years, the thermoset molding compound industry has delivered benefits that are very near to the life sciences.
EconRes Technologies (2023): The bio-based epoxy resins brought forth by EconRes Technologies are gapping a closure for thermoset molding compound markets. This startup has developed sustainable substitutes for traditional petrochemical-based compounds by utilizing renewable materials. This makes its products especially appealing for eco-friendly industries such as automotive and aerospace.
ThermoFort Materials (2019): ThermoFort Materials is addressing critical safety needs in next-generation technologies with its flame-retardant thermoset formulations. The company focuses on developing high-performance compounds that use nanotechnology. These compounds are specifically designed for tough applications in electric vehicle batteries and 5G telecommunications infrastructure.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapid-developing technology and new manufacturing demands are rapidly changing the thermoset molding compounds market. Thermoset requirements for batteries and chargers in the EV industry create a boom for manufacture of heat-proof and flame-resistant materials. The automotion industry undergoes transition concerning these factors of materials utilization for electric vehicle demand and thus has become the market growth driving force. Sustainability will be further endorsed with the development of bio-based and recyclable thermosets expected to reduce carbon emissions by around 50%. Molds enabled by the IoT increase accuracy while AI-optimized production minimizes waste and curing-time. The presently lightweight composites tool the aerospace sector to create new openings. Evonik and Huntsman have invested resourcefully in bio-epoxies using renewable energy for transport applications.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 11.89 Billion |
| Market size value in 2033 | USD 20.44 Billion |
| Growth Rate | 6.2% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Thermoset Molding Compound Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermoset Molding Compound Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermoset Molding Compound Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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