Composite Resin Market 2019 Business Scope for forecast period 2028
Increasing demand for composite resin products form the packaging, electrical, and automotive industries is a major factor projected to drive growth of the global market over the forecast period.
The global composite resin market report has been segmented on the basis of basis of type, manufacturing processes, application, and region.
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On the basis of type, the global market has been segmented thermoplastic and thermoset. The thermoset composite resin segment is estimated to account for significant share in terms of revenue in the global composite resin market, owing to increasing demand from transportation and construction end-use application industries. The thermoset composite resin segment revenue is also projected to register highest CAGR over the forecast.
On the basis of application, the global composite resin market has been segmented into construction & infrastructure, transportation, electrical & electronics, pipes & tanks, wind energy, marine, aerospace & defense, and others (consumer goods and healthcare). The construction & infrastructure industry segment is estimated to account for significant revenue share in the global market in terms of revenue. The construction & infrastructure industry segment revenue is also anticipated to register highest CAGR over the forecast.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific market is expected to dominate with significant revenue share in the global market in 2017. Asia Pacific market is also anticipated to register the highest CAGR in terms of revenue in the next few years, owing to increasing demand from construction & infrastructure, transportation, and electrical & electronics industries in the countries in this region.
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Key players operating in the global composite resin market include Huntsman International LLC, Hexion Inc., The Dow Chemical Company, Ashland Global Holdings Inc., Sumitomo Bakelite Company Limited, Scott Bader Company Limited, Koninklijke DSM N.V., BASF SE, Kukdo Chemical Co., Ltd., and Alpha Owens Corning.
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