SDKI recently added a report on the Thermoset Molding Compound market into its repository of detailed market research reports, which is studied for the forecast period, i.e., 2022-2031. The market is expected to grow significantly on account of the upsurge in chemicals trade across the world.
The World Integrated Trade Solution (WITS) of the World Bank recorded the United States to be the largest exporter of chemicals in the world, amounting for an export value of about USD 345.65 billion, followed by China with USD 158.75 billion worth of exports.
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Furthermore, there is an ever-increasing demand for chemicals that are more environment-friendly, backed with the imposition of stringent government regulations to control pollution on a global level. It is calculated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021. On the other hand, estimations also show that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. This in turn, is projected to raise the in-flow of investments by market players for the development of new technologies to manufacture products with reduced toxicity.
The growth of the Thermoset Molding Compound market is also anticipated to be attributed to the rise in value added by the chemical industry in the manufacturing sector. According to the World Bank, the value added by chemicals industry in the manufacturing sector was recorded at 11.962% in 2019 in the Hing Kong SAR, China region. Whereas, the same value was calculated at 15.804% in the United States that same year.
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On the basis of geography, the Thermoset Molding Compound market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These regions are further sub-segmented into the following:
- North America (U.S. & Canada),
- Latin America (Argentina, Mexico, Brazil, Rest of Latin America),
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe),
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The Thermoset Molding Compound market is also classified by SEGMENTS. The research report on the Thermoset Molding Compound market also contains in-depth details on the prominent companies operating in the market. Some of the key players mentioned in our report are KEY PLAYERS. The report also contains critical analyses of the competitors and includes business strategies, insights on crucial business partnerships, and recent developments, among others.
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
- Ashland Global Holding Inc.
- BASF SE
- Eastman Chemical Company
- Evonik Industries AG
- Hexion Inc.
- Huntsman Corporation
- Kolon Industries Inc.
- Kyocera Chemical Corporation
- Plastics Engineering Company (Plenco)
- Rogers Corporation.
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