Recyclable Thermoset Market, By Technology (Mechanical Recycling, Feedstock Recycling, and Energy Recovery), By Thermoset Type (Unsaturated Polyester Resins (UPR), Epoxy Resins, Phenolic Resins, Polyurethane Resins, and Others), By End- User Industry (Building & Construction, Transportation, Wind Energy, Electricals & Electronics, Aerospace & Defense, and Others), and By Region (North America Europe, Asia Pacific, Middle East & Africa, and South America) - Market Size & Forecasting (2016-2028)

The Global Recyclable Thermoset Market was estimated at USD XX.X million in 2020 and is projected to reach USD 427.7 million by 2028, at a CAGR of XX.X% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the global recyclable thermoset market has been estimated to be USD XX.X million in 2020 and USD XX.X million in 2028, at a CAGR of XX.X%.

By volume, the global recyclable thermoset market is estimated to be XX.X KT in 2020 and anticipated to reach XX.X KT in 2028, at a CAGR of 3.3% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be XX.X KT in 2020 and XX.X KT in 2028, at a CAGR of XX.X%.

Growing awareness on reducing the dependency on fossil fuel for polymer/plastic production is likely to drive the growth of the market for recyclable thermosets. The plastic recycling technology offers the possibility of lowering carbon emissions and reducing the amount of waste. It will help to avoid the accumulation of large amounts of plastic waste in natural environment and landfills.

Thermosets are highly utilized in advanced applications, especially within the aerospace and military industries, as multiple composites can be produced with the presence of thermosets. These include reinforced carbon fibers and glass. Despite the wide use of polymers in various industrial applications, it is very difficult to recycle thermosets. This could be a major restraint for the thermoset market. Existing thermosets or polymers are very difficult to remold or reset once they are cured from the process of recycle. Hence, they will burn and get decomposed at very high temperatures. This is the key restraint for the market, which can hamper the global recyclable thermoset market growth in future.

Thermosets are a particular class of polymers that form well-defined, permanent, chemical networks that appear to expand in three-dimensional directions by means of a curing process, which can occur either by heating or by the addition of a curing agent. This cause a crosslinking formation between its chemical components, giving the thermoset a strong and rigid structure that can be added to other materials to increase strength.

However, one of the biggest constraints for thermoset resin is its non-recyclability, owing to the presence of a large number of cross-links in its structure. Thermoset waste can be either end-of-life waste or scrap production, and most polymers from thermosets end up in landfills. There has long been a pressing need for recyclability in thermoset plastics, considering the overarching aim of sustainability.

Recyclable Thermoset Market Fig 1

                                     FIGURE 1: GLOBAL RECYCLABLE THERMOSET MARKET

The global recyclable thermoset market has been segmented based on type, function, application, end user, and region.

Recyclable Thermoset Market Fig 2

FIGURE 2: GLOBAL RECYCLABLE THERMOSET MARKET SEGMENTATION

Global Recyclable Thermoset Market, By Technology

On the basis of technology, the recyclable thermoset market is further segmented into mechanical recycling, feedstock recycling, and energy recovery. Mechanical recycling presently leads the market, led by the high consumption in Asia Pacific, which is the main market for thermoset composites.

The mechanical recycling segment of the recyclable thermoset market was estimated to be USD XX.X million in 2020 and is anticipated to reach USD XX.X million in 2028, at a CAGR of XX.X% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be USD XX.X million in 2020 and USD XX.X million in 2028, at a CAGR of 5.5%.

Global Recyclable Thermoset Market, By Thermoset Type

Based on the thermoset type, global recyclable thermoset market is segregated into unsaturated polyester resins (UPR), epoxy resins, phenolic resins, polyurethane resins, and others. Epoxy resin is the most dominant segment of the market and is expected to remain so in the forecast period.

The epoxy resins segment of the recyclable thermoset market was estimated to be USD XX.X million in 2020 and is anticipated to reach USD XX.X million in 2028, at a CAGR of 3.1% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be USD XX.X million in 2020 and USD XX.X million in 2028, at a CAGR of XX.X%.

Global Recyclable Thermoset Market, By End-User Industry

Based on the end-user industry, the global recyclable thermoset market is classified into building & construction, transportation, wind energy, electricals & electronics, aerospace & defense, and others. Wind energy sector will register the highest growth in the forecast period.

The aerospace & defense industry is expected to dominate the market demand in the coming decade. The aerospace & defense segment of the recyclable thermoset market was estimated to be USD XX.X million in 2020 and is anticipated to reach USD XX.X million in 2028, at a CAGR of XX.X% in the period of COVID-19. Conversely, without the COVID-19 impact, it was expected to be USD XX.X million in 2020 and USD XX.X million in 2028, at a CAGR of 5.6%.

Recyclable Thermoset Market

FIGURE 3: GLOBAL RECYCLABLE THERMOSET MARKET, PRE-COVID AND POST-COVID MARKET ESTIMATION AND FORECAST, 2020-2028

Global Recyclable Thermoset Market, By Region

By region, this market has been segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe and North America captured the largest market share of XX.X% in 2020 and are anticipated to remain the largest markets till the forecast period.

Factors such as strict government regulations on material recycling have compelled producers to turn to recyclable varieties of key materials, which is contributing towards the growth of the recyclable thermoset market in the North America region. Besides North America, the European recyclable thermoset market is growing due to the increasing number of energy-resourced applications using lightweight thermoset materials and restrictions on landfill solutions across the region, along with the development of thermoset recycling strategies in recent years.

What does This Report Provide?

This report provides a detailed understanding of the global recyclable thermoset demand from a qualitative and quantitative perspective with a forecast for the next 10 years in terms of both value and volume. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global recyclable thermoset market. The major market drivers, challenges, restraints, and opportunities for the global recyclable thermoset have also been covered in the report.

This report further includes the market shares of the leading companies operating in the recyclable thermoset market, along with their production capacities and the growth strategies adopted by them. An in-depth pricing analysis, patent analysis, and latest technological advancement analysis have been covered in the report. Apart from these, how COVID-19 pandemic has affected the global market is also covered in this study, both in terms of qualitative and quantitative analysis.

Market Segmentation:

By Technology:

  • Mechanical Recycling
  • Feedstock Recycling
  • Energy Recovery

By Thermoset Type:

  • Unsaturated Polyester Resin (UPR)
  • Epoxy Resin
  • Phenolic Resin
  • Polyurethane Resin
  • Others

By End-User Industry:

  • Building & construction
  • Transportation
  • Wind Energy
  • Electricals & Electronics
  • Aerospace & Defense
  • Others

By Region:

North America Recyclable Thermoset Market

  • North America Recyclable Thermoset Market, by Country
    • US
    • Canada
    • Mexico
  • North America Recyclable Thermoset Market, by Technology
  • North America Recyclable Thermoset Market, by Thermoset Type
  • North America Recyclable Thermoset Market, by End-User Industry

Europe Recyclable Thermoset Market

  • Europe Recyclable Thermoset Market, by Country
    • Germany
    • Russia
    • UK
    • France
    • Italy
    • Spain
    • The Netherlands
    • Rest of Europe 
  • Europe Recyclable Thermoset Market, by Technology
  • Europe Recyclable Thermoset Market, by Thermoset Type
  • Europe Recyclable Thermoset Market, by End-User Industry

Asia Pacific Recyclable Thermoset Market

  • Asia Pacific Recyclable Thermoset Market, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Rest of Asia Pacific 
  • Asia Pacific Recyclable Thermoset Market, by Technology
  • Asia Pacific Recyclable Thermoset Market, by Thermoset Type
  • Asia Pacific Recyclable Thermoset Market, by End-User Industry

Middle East & Africa Recyclable Thermoset Market

  • Middle East & Africa Recyclable Thermoset Market, by Country 
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa
  • Middle East & Africa Recyclable Thermoset Market, by Technology
  • Middle East & Africa Thermoset Market, by Thermoset Type
  • Middle East & Africa Recyclable Thermoset Market, by End-User Industry

South America Recyclable Thermoset Market

  • South America Recyclable Thermoset Market, by Country 
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • South America Recyclable Thermoset Market, by Technology
  • South America Recyclable Thermoset Market, by Thermoset Type
  • South America Recyclable Thermoset Market, by End-User Industry

Major Companies: The major companies profiled in the report include Aditya Birla Chemicals, Northstar Recycling, Mallinda LLC., Eco-Wolf Inc., INTCO Recycling, Conenor Ltd., Adesso Advanced Materials, MCR MIXT composites Recyclables, and Neocomp GmbH, among others.

Objectives of This Report:

  • To estimate the market size for the recyclable thermoset on a regional and global basis both in terms of value and volume.
  • To identify major segments in the recyclable thermoset and evaluate their market shares and demand.
  • To provide a competitive scenario for the recyclable thermoset market with major developments observed by key companies in the historic years.
  • To evaluate key factors governing the dynamics of recyclable thermoset market with their potential gravity during the forecast period.
  • To evaluate the leading company-wise pricing analysis for the mentioned applications.
  • COVID-19 impact on the global recyclable thermoset market.

Customization:

This study is customized to meet your specific requirements:

  • By sub-segment
  • By client-specific country analysis with market share analysis
  • Pricing analysis along with the potential and existing customer analysis
  • Product specific competitive benchmarking and pricing analysis

For more information, contact: sales@quincemarketinsights.com