USD 14.87 Billion
Report ID:
SQMIG15E2692 |
Region:
Global |
Published Date: April, 2025
Pages:
192
|Tables:
104
|Figures:
71
Global Thermosetting Plastics Market size was valued at USD 14.87 Billion in 2023 poised to grow from USD 15.38 Billion in 2024 to USD 20.10 Billion by 2032, growing at a CAGR of 3.4% in the forecast period (2025-2032).
Global insistence on fuel-saving and ecofriendly cars is, to a very large extent, driving demand for thermosets in the transportation and aerospace industry. These two industries are particular about materials which are light weight but extremely high strength to add performance while bringing down overall weight and emissions. Thermosetting plastics, like epoxy and phenolic resins, provide high strength-to-weight ratios, thermal resistance, and dimensional stability—features that make them perfect substitutes for conventional metal parts. Their application promotes better fuel efficiency and reduced carbon emissions. With electric cars and lightweight airplanes becoming commonplace, manufacturers find themselves relying more and more on thermosets, sustaining steady market growth in these cutting-edge engineering uses.
One of the key drivers of the expansion of the global thermosetting plastics market is their excellent resistance to heat, chemicals, and corrosive conditions. In contrast to thermoplastics, thermosets do not lose their mechanical properties even at extreme temperatures and chemical exposure, which makes them a must-have in industries such as electronics, electrical insulation, and industrial equipment. Their stability makes them a guarantee for safety and durability during use, where conventional materials would degrade or fail. For instance, circuit boards, insulation systems, and automotive components benefit from the heat-resistance of epoxy and polyester resins. As industries become increasingly demanding in their requirement for materials that exhibit reliability under challenging conditions, thermosetting plastics are valued as premium-value, high-performance products.
How does AI Improve the Thermal Stability and Mechanical Strength of Thermosetting Plastics?
Artificial intelligence (AI) is strongly influencing global thermosetting plastics market evolution since it raises material development as well as production efficiency to high levels. AI predictive modeling enables scientists to design novel thermosetting polymers with specialized characteristics, i.e., thermal and mechanical resistance improvements, accelerating material evolution of aerospace and motor industry applications. At the same time, AI-enabled manufacturing systems, such as sensXPERT, apply real-time sensor information and machine learning software to streamline curing processes, saving cycle times by as much as 30% and minimizing waste. This twofold effect of AI spurs innovation and operational excellence, powering growth and competitiveness in the thermosetting plastics market.
In 2020, UConn Assistant Professor Ying Li won a Young Investigator Award from the U.S. Air Force Office of Scientific Research to work on creating the next generation of thermoset plastics using AI technology. The research by Li involves the application of deep reinforcement learning to the design of new thermosetting polymers with specific properties, including enhanced thermal stability and mechanical strength, and to advance the creation of innovative materials for use in aerospace and automotive applications.
What role does Sustainability Play in the New Thermosetting Plastics Innovations by Startups?
Startups in the global thermosetting plastics market are reshaping material innovation through sustainability, recyclability, and performance-enhancing breakthroughs. By blending AI, green chemistry, and dynamic polymers, these emerging companies are solving long-standing challenges like waste, reprocessing, and high energy usage. They emphasize applications in automotive, aerospace, and electronics, where advanced thermosets are in great demand. Their leading-edge R&D is opening new formulations and processes, fueling market competitiveness and environmentally friendly transformation.
Founded in 2018, Xampla is a UK-based startup focused on developing sustainable plant-based materials. Their disruptive products, such as microcapsules and biodegradable films, replace traditional plastics. Xampla's films, based on plant proteins, replace thermosets' strength with biodegradable strength, rendering them a green choice for packaging and other uses. Their solution involves engineering plant proteins into high-strength flexible materials that can be naturally degraded, overcoming plastic waste problems.
Established in the year 2020, Allonnia is a U.S.-based company employing biotechnology to address plastic waste, including thermosetting plastics. Through microbial engineering that enables the breakdown of intricate plastic frameworks, Allonnia seeks to offer a biological approach to the degradation of plastic. The innovation of the company is in the design of synthetic biology-based microbes with targeted enzymes to degrade plastics that are presently insoluble in traditional recycling, providing an eco-friendly, novel method of addressing environmental pollution caused by plastics.
Market snapshot - 2025-2032
Global Market Size
USD 14.87 Billion
Largest Segment
Unsaturated Polyester Resins
Fastest Growth
Epoxy Resins
Growth Rate
3.4% CAGR
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Unsaturated Polyester Resins (UPR) are presently leading the innovation in the global thermosetting plastics market with their versatility, affordability, and superior mechanical properties. UPRs find extensive applications in the automotive, construction, and marine sectors for the manufacture of durable, lightweight, and corrosion-resistant composites. Their supremacy is because they can provide better performance at reduced costs, simple processing, and versatility in different applications, making them a preferred material for high-demanding industries.
The automotive transportation sector is poised to be the fastest-growing application in the global thermosetting plastics market due to increasing demand for lightweight, durable, and high-performance materials. Thermosetting plastics provide increased strength, thermal resistance, and design flexibility necessary for complying with fuel efficiency and safety regulations in new vehicle production.
Epoxy resins are dominating in the global thermosetting plastics market, distinguished by high adhesion, mechanical performance, and chemical resistance. Some recent developments involve creating recyclable and fire-resistant epoxy formulations, boosting their sustainability and safety aspects. Their dominance owes to versatility across industries like the automotive, aerospace, and building sectors, where high-performance material is critical. The versatility of epoxy resins and their improved properties make them a choice selection in challenging applications.
The electrical and electronics industry is witnessing strong growth in the global thermosetting plastics market. The growth is fueled by the rising demand for heat-resistant, electrically insulating, and durable materials that are crucial for sophisticated electronic components. The excellent thermal stability and electrical insulation properties of thermosetting plastics make them suitable for use in circuit breakers, insulators, and transformers, fueling the growth of the sector.
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As per the global thermosetting plastic market analysis, Asia Pacific is leading the industry, boosted by aggressive industrialization, growth in automotive, electronics, and construction industries. China, India, and Japan are the key drivers, relying on cost-effective manufacturing and technical capabilities. Demand for light and tough materials for automotive and electronic uses continues to drive the market growth, with Asia Pacific being a critical driver for innovation and production in the global thermosetting plastics market.
Japan is a critical contributor to the Asia Pacific thermosetting plastics market, led by its robust automotive, electronics, and industrial industries. With its reputation for leading-edge manufacturing methods and high-quality products, Japan's market is well-positioned with its innovative engineering plastics, particularly in long-lasting, heat-tolerant plastic materials. The country's focus on sustainability and superior performance makes it a market leader in thermosetting plastics.
Singapore is one of the major countries in Asia Pacific's thermosetting plastics market with its sophisticated production facilities and well-positioned access. The highly developed research orientation of the nation has promoted development in thermosetting materials for applications in electronics, among others. Singapore's good business-friendly environment and overseas trade links augment its role to drive the processing and distribution of thermosetting plastics in Southeast Asia.
North America is the fastest growing in the global thermosetting plastics market, driven by strong demand in industries such as automotive, aerospace, and construction. The emphasis by the region on innovation and cutting-edge manufacturing technology has resulted in the creation of high-performance, lightweight, strong thermoset materials. It is the lead players in both the U.S. and Canada that are extensively investing in research and development efforts, making North America a pioneering region in embracing and manufacturing thermosetting plastic.
The United States is a leading driver of the North America’s thermosetting plastics market due to the demand from major industries such as automotive, aerospace, and building construction. The U.S. is supported by the advanced manufacturing facilities and continuous innovation in terms of thermosetting materials, especially the manufacture of high-performance lightweight composites. The country's high emphasis on R&D and sustainability also strengthens its leadership in the thermosetting plastics sector.
Canada plays a growing role in North America's thermosetting plastics market, supported by industries such as automotive, packaging, and construction. The nation is investing in thermosetting material production that is durable and affordable, fulfilling the growing demands of environmentally friendly high-performance plastics. Canada's focus on technology and sustainable solutions makes it a significant player in the regional thermosetting plastics market.
Europe is a major player in the global thermosetting plastics market, with major contributions from automotive, aerospace, and electronics industries. The region's robust manufacturing base, combined with sustainability and innovation focus, propels demand for advanced thermosetting materials. Key players in Germany, France, and Italy are leading the development of high-performance plastics, thus making Europe an important hub for thermosetting plastics production and research.
Germany leads Europe's thermosetting plastics market, boosted by its powerful automotive, aerospace, and manufacturing industries. The nation's sophisticated manufacturing processes and technological advancements in thermosetting materials have made it possible to produce high-performance, long-lasting plastics. Germany's focus on sustainability and precision engineering makes it a prime driver of the growth and development of the thermosetting plastics market in Europe and worldwide.
Italy is a key player in Europe's thermosetting plastics industry, driven by strong demand from the auto, building, and packaging industries. Italy is known for the high-quality production of thermosetting products that focus on performance, sustainability, and affordability. Italy's ongoing investment in research and technology enables the production of advanced thermosetting plastics that are meeting the growing need for endurable and resilient materials in various applications.
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Rising Demand from Automotive Industry
Growing Focus on Sustainability
Limited Recycling Capabilities
Vulnerability to Thermal Degradation
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The global thermosetting plastics market competitive landscape is led by such major players as BASF SE, DuPont, Huntsman Corporation, and SABIC. They all concentrate on innovation, sustainability, and strategic collaborations. BASF, for instance, prioritizes sustainable solutions and product diversification. DuPont invests in R&D to develop high-performance materials, whereas Huntsman seeks growth through acquisition and increasing the production capacity, enhancing its share in the automotive and aerospace industries.
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, the global thermosetting plastics industry is undergoing a transformative evolution, driven by sustainability, innovation, and rising demand from high-performance industries such as automotive, aerospace, and electronics. With better thermal stability, mechanical strength, and durability against extreme environments, thermosets keep replacing conventional materials in challenging applications.
The inclusion of AI has also accelerated R&D and maximized manufacturing further, while startups and research institutions work on environmentally friendly solutions and recyclability. Regional markets especially in Asia Pacific, North America, and Europe are investing heavily in R&D and sustainable production methods, fueling market growth. Despite challenges like recyclability and thermal degradation limits, the market's future remains promising, powered by innovation, global collaboration, and a strong focus on lightweight, durable, and sustainable materials.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 14.87 Billion |
Market size value in 2032 | USD 20.10 Billion |
Growth Rate | 3.4% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 Thermosetting Plastics 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 Thermosetting Plastics 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermosetting Plastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermosetting Plastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Thermosetting Plastics Market size was valued at USD 14.87 Billion in 2023 poised to grow from USD 15.38 Billion in 2024 to USD 20.10 Billion by 2032, growing at a CAGR of 3.4% in the forecast period (2025-2032).
The global thermosetting plastics market competitive landscape is led by such major players as BASF SE, DuPont, Huntsman Corporation, and SABIC. They all concentrate on innovation, sustainability, and strategic collaborations. BASF, for instance, prioritizes sustainable solutions and product diversification. DuPont invests in R&D to develop high-performance materials, whereas Huntsman seeks growth through acquisition and increasing the production capacity, enhancing its share in the automotive and aerospace industries. 'BASF SE (Germany)', 'DuPont (USA)', 'Huntsman Corporation (USA)', 'SABIC (Saudi Arabia)', 'Lonza Group (Switzerland)', 'Covestro (Germany)', 'DSM (Netherlands)', 'Mitsubishi Chemical Corporation (Japan)', 'Sumitomo Bakelite Co., Ltd. (Japan)', 'Arkema (France)', 'Plaskolite, Inc. (USA)', 'Kraton Polymers (USA)', 'Royal DSM (Netherlands)', 'Hexion Inc. (USA)', 'Momentive Performance Materials (USA)'
The motor vehicle sector is one of the major drivers of the global thermosetting plastics market growth. Rising demand for fuel-efficient, light, and strong vehicles has resulted in the use of thermosetting plastics for components such as bumpers, body panels, and interior. Thermosetting plastics improve the performance of the vehicle, save weight, and increase fuel efficiency.
Rising Demand for Sustainable Thermosetting Plastics: Sustainability is emerging as a major driver in the global thermosetting plastics market trends. Firms are turning towards bio-based and recyclable materials to minimize environmental footprint. Sectors like automotive and construction are increasingly embracing these green solutions, in line with worldwide initiatives to minimize carbon footprints and ensure sustainable manufacturing practices.
Why is Asia Pacific Considered a Critical Hub for Innovation and Production in the Market?
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