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Recyclable Thermoset Market to Grow at 6.3% CAGR during 2018-2023

 


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Recyclable Thermoset Market: Highlights The global recyclable thermoset market is likely to grow at a healthy CAGR of 6.3% over the next five years, propelled by a host of factors including organic growth of the composites industry, an increasing preference of thermoset over thermoplastics, high focus on the green and sustainable materials, and the introduction of strict government regulations regarding the ban of landfill disposal. Thermoset is the most widely accepted matrix system for fabricating composite parts. The matrix system has efficaciously been gaining penetration in most of the end-use industries, owing to its excellent strength and interlaminar properties. Unsaturated polyester, epoxy, and phenolic are the most commonly used matrices globally.

Other major thermosets are polyurethane, vinyl esters, BMI, cyanate esters, and silicones. However, one of the biggest constraints of thermoset resin is its non-recyclability, owing to a large number of cross-link in its structure. The generation of waste from thermoset composites is mainly derived from the end-of-life of composite parts as well as from the scrap accumulated during the fabrication of composite parts.

Recyclable Thermoset Market by Technology Type: Based on the technology type, the recyclable thermoset market is segmented into Mechanical Recycling, Feedstock Technology, and Energy Recovery. Mechanical recycling currently dominates the market, driven by a high usage in the Asia-Pacific, the largest thermoset composites market. Mechanical recycling is a manual process in which thermoset-made parts are pierced into fine particles, which are used as a filler or as a reinforcement. The recycling process is highly labor intensive and is highly preferred in China and India, owing to the availability of low-cost labor coupled with relatively less stringent landfill regulations. The process produces relatively low-quality fillers, which cannot be used in high-performance applications and also, this is a bit more expensive than the fillers, such as clay. Recyclable Thermoset Market by Thermoset Type: Based on the thermoset type, the market is segmented into Unsaturated Polyester Resin (UPR), Epoxy Resin, Phenolic Resin, Polyurethane Resin, and Other Resins.

UPR is likely to remain the most dominant segment of the market during the forecast period, driven by a high usage in various cost-sensitive industries including transportation and building & construction. UPR is the most widely used resin systems that offer excellent performance at a relatively low cost. Epoxy resin is likely to be the fastest-growing segment of the market during the same period, propelled by an increasing usage in the transportation, Aerospace & Defense, and electricals & Electronics industries.

Epoxy resin offers better mechanical and interlaminar properties but at a relatively high cost as compared to UPR. Recyclable Thermoset Market by End-Use Industry Type: Based on the end-use industry type, the market is segmented into Building & Construction, Transportation, Wind Energy, Electricals & Electronics, Aerospace & Defense, and Others. Building & Construction and transportation are the largest consumers of thermoset composites worldwide, driven by an increasing demand for lightweight, durable, corrosion-resistant, and highly aesthetic parts.

The transportation and aerospace & defense industries are likely to be the fastest-growing market over the next five years. Both end-use industries are increasingly increasing the penetration of composite parts into the structural and semi-structural applications in order to meet their current market requirements. Composite recycling becomes a necessity as both industries are highly relying upon thermoset composites.

Recyclable Thermoset Market by Region: Based on the regions, Asia-Pacific is likely to remain the largest recyclable thermoset market over the next five years, driven by a higher usage of mechanical recycling technology, which is further propelled by a low-cost labor and relatively less stringent regulations regarding the usage of waste. Also, Asia-Pacific is the largest producer as well as the procurer of composite materials, driven by the presence of assembly/manufacturing plants of highly cost-sensitive industries including electricals & electronics, wind energy, transportation, and building & construction. Recyclable Thermoset Market: Key Players and Strategies A recent study suggests that merely 2% of composite industry players are active recyclers. However, the numbers of players have sharply been raising, owing to the industry’s focus on recycling thermosets. Connora Technologies, Adesso Advanced Materials Inc. , Mallinda, LLC, and INTCO Recycling the major players active in the market. Report link : https://www.stratviewresearch.com/326/Continuous-Fiber-Composites-Market.html.

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