Australia markets open in 37 minutes
  • ALL ORDS

    7,231.00
    +5.80 (+0.08%)
     
  • AUD/USD

    0.7646
    -0.0001 (-0.02%)
     
  • ASX 200

    6,976.90
    +2.90 (+0.04%)
     
  • OIL

    60.59
    +0.41 (+0.68%)
     
  • GOLD

    1,746.20
    -1.40 (-0.08%)
     
  • BTC-AUD

    82,855.80
    +3,854.84 (+4.88%)
     
  • CMC Crypto 200

    1,353.54
    +59.55 (+4.60%)
     

Global Recyclable Thermoset Market to Grow with a CAGR of 3.1% from 2020 to 2028.

Quince Market Insights
·10-min read

The global recyclable thermoset market has been estimated to be USD 333.8 million in 2020 and is projected to grow with a CAGR of 3.1% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the global recyclable thermoset market has been estimated to grow at a CAGR over 5.4% during the forecast period.

Pune, India, April 08, 2021 (GLOBE NEWSWIRE) -- The global recyclable thermoset market has been estimated to be USD 333.8 million in 2020 and is projected to grow with a CAGR of 3.1% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the global recyclable thermoset market has been estimated to grow at a CAGR over 5.4% during the forecast period.

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 plastics waste in natural environment and landfills.

Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-60180

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.

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 recycled thermoset market growth in future.

Some of the noted developments that consider in the report are:

  • January 2021, Eastman Chemical Co. has announced that it is investing approximately USD 250 million over the next two years to build one of the world’s largest plastic-to-plastics molecular recycling facility at its site in Kingsport, Tenn. Eastman Chemical Company is an American company primarily involved in the recycling industry.

  • November 2020, The US Department of Energy (DOE) announced more than USD27 million in funding for 12 projects that would support the development of advanced plastics recycling technologies and new plastics that are recyclable by design in 2020-2021. As a part of DOE’s Plastics Innovation Challenge, these projects will also help improve existing recycling processes that break plastics into chemical building blocks. This will help in replacing the recycled products instead of new plastic products.

  • July 2019, Aditya Birla Chemical acquired recyclable thermoset technology from Connora Technologies. Connora Technologies is the pioneer of recyclable epoxy resin technology. Aditya Birla Group and Connora Technologies have been collaborating since 2016 in a Joint Development Agreement to scale-up the manufacturing of Connora’s recyclable epoxy thermoset technology. This technology not only enables incremental value creation through zero-waste manufacturing to customers, but also offers end-of-life recyclability options to Aditya Birla chemicals.

  • February 2015, Aditya Birla Chemicals (India) Limited to merge with Grasim Industries Limited. This merger consolidates Aditya Birla Group's Chlor -Alkali business into Grasim and strengthen its existing portfolio of viscose staple fibre, caustic soda and allied chemicals in Standalone Company. The merger will enable the geographical diversification for Grasim through the addition of ABCIL's manufacturing facilities spread across the country. It also enables the business to capitalize growth opportunities by bringing in operational and financial synergies, backed by Grasim's strength.

Enquiry Before Buying and Discount For This Report @ https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-60180

COVID-19 Impact on Global Recyclable Thermoset Market

QMI team closely monitors the impact of COVID-19 on the recyclable thermoset market and it is observed that the demand for recyclable thermoset market slow-down during the pandemic time, but it is anticipating to grow with a healthy pace from 2021. COVID-19 impact on some of the major countries are listed below:

  • China

The COVID-19 pandemic has impacted many industries in China. The immediate shutting down of manufacturing plants in various industries such as automotive, electronics, and others, has brought the country to a standstill. This has also impacted the rate of working labor. Because of the Covid-19 pandemic, the manufacturing industries in China have experienced a huge reduction in the production rate of recyclable thermoset due to a decrease in the workforce. Considering the significant role China plays in the supply chain of the U.S. plastics industry and the manufacturing sector. Taking into consideration China's important role in the supply chain of manufactures, COVID-19 disrupted China's economy as well as the world economy.

  • U.S.

The use of recyclable thermoset has increased in various industries in the US, such as healthcare and automotive, due to the increased adoption of packaged end-use products and plastic medical devices by the healthcare sector. According to the National Association of Manufacturers (NAM), COVID-19 has affected 75 to 80% businesses financially, which is anticipated to restrict the growth of the recyclable thermoset market as well.

  • India

The COVID-19 pandemic has decreased the market value considerably in 2020 and early 2021 in India. This has shown a major impact on the labor workforce in the recyclable thermoset market. However, in the post-COVID-19 scenario, increasing awareness among population regarding the importance of recycling of thermoset may lead to an increase in demand for recyclable thermoset in the building and construction industry.

  • Germany

The companies in Germany are currently facing many challenges due to the COVID-19 pandemic. The pandemic has caused major disruptions in the supply of components for recyclable thermoset market, which is affecting the growth of this market. In particular, massive disruptions in the supply chains occurred at the beginning of the pandemic. Parts and components ordered from China, for example, could no longer be supplied which hampered the recyclable thermoset market.

Global Recyclable Thermoset Market, By Technology

By technology, the global recyclable thermoset market is segmented into mechanical recycling, feedstock recycling, and energy recovery. Mechanical recycling presently leads the market, led by high consumption in Asia-Pacific, which are the main market for thermoset composites. The mechanical recycling technology involves grinding techniques to minimize the size of the scrap material into powder or fibrous recycled material, which can be used as raw materials. This recycling process is highly labor-intensive and is widely favored in China and India due to the availability of low-cost labor and relatively less stringent landfill regulations. Such factors are expected to contribute towards the growth of this segment.

Buy Now Full Report @ https://www.quincemarketinsights.com/insight/buy-now/recyclable-thermoset-market/single_user_license

Global Recyclable Thermoset Market, By Thermoset Type

By thermoset type, global recyclable thermoset market is segregated into unsaturated polyester resins (UPR), epoxy resins, phenolic resins, polyurethane resins, and others. Epoxy resins are the most dominant segment of the market and are expected to drive during the forecast period till 2028. Epoxy Resin, which is propelled by an increased use in the transport, aerospace & defence and power & electronics industries, is most likely to be the fastest growing part of the market during the same period. Epoxy resin offers better mechanical and inter laminar properties which further contribute the growth of epoxy thermoset segment in global recyclable thermosets market.

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 highest growth in the forecast period. Moreover, aerospace & defense industry expected to dominate the market demand in coming decade. Growing concern for environmental related issues, increasing demand for renewable energy source that demand set up of more wind energy based power plants, which further anticipate to cater the wind end-user industry segment for recyclable thermoset market.

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. Among these, the European region recyclable thermoset market is expected to grow at a CAGR of 5.1% between 2020 and 2028. The Asia-Pacific region his expected to grow at a highest CAGR of 6.3% during the forecast period. Technical advancement, rising awareness regarding environmental protection, tax incentives and regulations has caused Europe region dominant in the recyclable thermoset market.

Some Major Findings of Recyclable Thermoset Market Report Include:

  • Major global market trend & forecasts analysis along with the country specific market analysis up to 25 countries

  • In-depth global recyclable thermoset market analysis by above mentioned segments along with analysis of trend-based insights and factors

  • Major key market players profiles that are operating in the global recyclable thermoset market are Aditya Birla Chemicals, Northstar Recycling, Mallinda LLC, Eco-Wolf Inc., INTCO Recycling, Conenor Ltd., Adesso Advanced Materials, MCR Mixt Composites Recyclables, Neocomp GmbH, and many among others.

  • Competitive benchmarking, product offering details, growth strategies adopted by the leading market players along with their major investments in last five years

  • Key impact factor analysis across the regions that includes analysis, along with the drivers, restraints, opportunities, challenges that are prevailing in the global recyclable thermoset market

  • Impact of COVID-19 on global recyclable thermoset market

Browse key industry insights spread across 160 pages with 154 market data tables and 78 figures & charts from the report, Recyclable Thermoset Market, By Technology Type (Mechanical Recycling, Feedstock Recycling, and Energy Recovery), By Thermoset Type (Unsaturated Polyester Resins, Epoxy Resins, Phenolic Resins, Polyurethane Resins, and Others), By End Use Industry Type (Building & Construction, Transportation, Wind Energy, Electricals & Electronics, Aerospace & Defense, and Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2016-2028)” in-depth analysis along with the table of contents (ToC).

Link: https://www.quincemarketinsights.com/industry-analysis/recyclable-thermoset-market

For Query: sales@quincemarketinsights.com

Browse Related Reports:

  • Global Recycled Metal Market, By Metal Type (Ferrous Metals, Non-Ferrous Metals, and Precious Metals), By End User (Building & Construction, Automotive, Electrical & Electronics, Shipbuilding, Industrial Machinery, Military & Defense, Nuclear, Chemical, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2028)

https://www.quincemarketinsights.com/industry-analysis/global-recycled-metal-market

  • Global Recycled Packaging Materials Market, By Type (Metal, Paper, Paperboard, Glass, and Plastic), By End User (Food & Beverages, Healthcare, Personal Care, and Others), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2025)

https://www.quincemarketinsights.com/industry-analysis/recycled-packaging-materials-market

  • Recycled Glass Market, By Source (Deposit Program, Drop Off/Buy Back Centers, Curbside Pickups), By Product (Cullet [Clear Cullet, Amber Cullet, Green Cullet], Crushed Glass, Glass Powder), By Application (Glass Bottle & Containers, Flat Glass, Fiber Glass, Highway Beads, Abrasives, Fillers), By Region (North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & forecasting (2016-2028)

https://www.quincemarketinsights.com/industry-analysis/recycled-glass-market

  • Recycled PET (R-PET) Bottles Market, By Type (Food Grade, Non-Food Grade), By Application (Food And Beverage, Home And Personal Care, Medical And Pharmaceutical, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, And South America) – Market Size & Forecasting To 2028

https://www.quincemarketinsights.com/industry-analysis/recycled-pet-r-pet-bottles-market

  • Coated Recycled Paperboard Market, By Coating Type (Kaolin Clay Or China Clay, Titanium Dioxide, And Calcium Carbonate), By Application (Beauty And Personal Care, Cereal Cartons, Dry Foodstuffs, Pet Food, Home And Garden, Soap And Laundry Detergent Packaging, Paper Goods Packaging, Light Bulbs, Bakery, And Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2028

https://www.quincemarketinsights.com/industry-analysis/coated-recycled-paperboard-market

CONTACT: Ajay D Quince Market Insights Pune India Phone: US +1 208 405 2835 UK +44 1444 39 0986 APAC +91 706 672 4848 Email: sales@quincemarketinsights.com Web: www.quincemarketinsights.com