Thermosetting Plastics Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to thermosetting plastics market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Thermosetting Plastics Market News

in Thermosetting Plastics Market
  • In March 2025, Teijin Limited has expanded its thermoset composites portfolio focusing on the automotive industry. The new materials aim to improve car performance, lighten load, and increase sustainability. The developments are in line with increasing industry needs for lightweight, environmentally friendly solutions, making Teijin a pioneer in automotive material innovation.
  • In August 2024, Covestro AG introduced a new line of thermosetting resins specifically designed for wind energy applications. These resins provide superior resilience and effectiveness, making them integral to the expansion of the renewable energy industry. By enabling the production of longer-lasting wind turbine blades, Covestro's technology-driven resins are instrumental in leading the advancement of sustainable energy technologies worldwide.
  • In September 2024, Daicel Corporation introduced a new thermosetting resin system that utilizes renewable materials. This development is meant to cut down on carbon footprints without compromising on high-performance properties for industrial processes. Daicel's emphasis on sustainability and material efficiency responds to growing global demand for environmentally friendly solutions, solidifying their market position in green materials.
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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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Global Thermosetting Plastics Market
Thermosetting Plastics Market

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