Global Molding Compound Market Introduction:
“The global Molding Compound Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The thermoset molding compounds offers various advantages in preventing corrosion and rust on vehicles’ body and a key metal parts, thus reduces the maintenance costs and increasing the average lifespan. They are also utilized in applications areas such as automotive valve corners, electric motor mounts, and headlight liners.
Increasing demand for the molding compounds across various end-use industries such as automotive and aerospace is major factor expected to drive growth of the global market over the next 10 years. In addition, increasing application scope as heat resistant and flame resistant is key factor expected to support revenue growth of the global market over the next few years.
In addition, properties offered by these materials such as heat resistant, flame resistant, high dielectric strength, and corrosion resistant is another key factor projected to fuel adoption of these products, which in turn to drive growth of the target market over the forecast period. Moreover, molding compound has various application in several industrial sectors, which in turn anticipated to drive growth of the global market in the next few years.
The Asia Pacific molding compound market is expected to account for significant share in terms of revenue in the global molding compound market. In addition, the Asia Pacific market is also anticipated to register fastest growth in terms of revenue over the next few years, owing to increasing demand from automotive and aerospace industries in the countries in this region. In addition, increasing investments by private manufacturers in various countries such as China and India in Asia Pacific and rising demand from various end-use application industries are among other major factors expected to drive growth of the Asia Pacific market in the next 10 years.
The market in India is projected to account for significant share in terms of revenue in the Asia Pacific market. Increasing awareness regarding various properties offered by these materials among producers in the countries in this region are other key factors projected to drive growth of various end-use application industries, which in turn is anticipated to support revenue growth of the global market in this region.
Global Molding Compound Market Segmentation:
Segmentation by thermoset resin type:
- Phenolic Resin
- Epoxy Resin
- Polyester Resin
- Others Resins (urea formaldehyde resin and melamine formaldehyde resin)
Segmentation by end user:
- Electrical & Electronics Industry
- Automotive Industry
- Aerospace Industry
- Others Industries
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Hexion Inc.
- Hitachi Chemical Company, Ltd.
- BASF SE
- Ashland Global Holdings Inc.
- Huntsman International LLC
- Eastman Chemical Company
- Kolon Industries, Inc.
- KYOCERA Chemical Corporation
- Evonik Industries AG
- Kukdo Chemical Co., Ltd.
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