Thermoset Composites

Global Thermoset Composites Market to Reach US$96.9 Billion by 2030

The global market for Thermoset Composites estimated at US$66.3 Billion in the year 2024, is expected to reach US$96.9 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2024-2030. Epoxy, one of the segments analyzed in the report, is expected to record a 7.2% CAGR and reach US$42.6 Billion by the end of the analysis period. Growth in the Polyester segment is estimated at 6.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.6 Billion While China is Forecast to Grow at 7.8% CAGR

The Thermoset Composites market in the U.S. is estimated at US$11.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$18.9 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.0% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR.

Global Thermoset Composites Market - Key Trends & Drivers Summarized

Thermoset composites are advanced materials made from a polymer matrix reinforced with fibers, such as glass, carbon, or aramid. These composites are known for their excellent mechanical properties, including high strength-to-weight ratios, thermal stability, and resistance to environmental degradation. Unlike thermoplastics, thermoset composites do not melt when heated; instead, they undergo a curing process that creates a permanent chemical bond, giving them their characteristic rigidity and durability. Common thermosetting resins include epoxy, polyester, and vinyl ester, each chosen for specific performance attributes. These materials are widely used in various industries, including aerospace, automotive, construction, and marine, where they contribute to lightweight, high-performance structures.

In the aerospace industry, thermoset composites are critical for the manufacture of aircraft components such as wings, fuselage sections, and interior parts. Their high strength-to-weight ratio helps reduce overall aircraft weight, leading to improved fuel efficiency and reduced emissions. The automotive sector also benefits from these materials in the production of lightweight and durable components that enhance vehicle performance and safety. In construction, thermoset composites are used in applications ranging from bridges and building facades to pipelines and storage tanks, owing to their resistance to corrosion and environmental wear. The marine industry leverages these materials for boat hulls and offshore structures, where durability and resistance to harsh sea conditions are paramount.

The growth in the thermoset composites market is driven by several factors, including technological advancements, increasing demand in end-use industries, and evolving consumer preferences. Technological innovations, such as improved resin formulations and advanced manufacturing processes like resin transfer molding and pultrusion, are enhancing the performance and cost-effectiveness of thermoset composites. The rising demand from the aerospace and automotive industries, driven by the need for fuel-efficient and lightweight materials, is a significant growth driver. In construction, the push for sustainable and long-lasting materials is boosting the adoption of thermoset composites. Additionally, consumer preferences for durable, high-performance products are influencing market trends, particularly in the automotive and sporting goods sectors. The expansion of renewable energy projects, such as wind energy, where thermoset composites are used for turbine blades, also contributes to market growth. As industries continue to seek materials that offer superior performance and longevity, the demand for thermoset composites is expected to rise, spurring further advancements and applications in various fields.

 

SCOPE OF STUDY:

The report analyzes the Thermoset Composites market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Resin Type (Epoxy, Polyester, Other Resin Types); Fiber Type (Glass, Other Fiber Types); Application (Transportation / Automotive, Wind Energy, Construction, Aerospace & Defense, Marine, Sporting Goods, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 71 Featured) -

• Accurate Plastics Inc.
• Advanced Composite Structures Australia Pty Ltd
• AGY Holding Corp.
• Arkema S.A.
• Avient Corporation
• China Jushi Co., Ltd.
• Hexcel Corporation
• Hexion Inc.
• Huntsman International LLC.
• JEC Group
• Johns Manville Corporation
• KINECO - KAMAN
• Lingol Corporation
• Mar-Bal, Inc.
• Mitsubishi Chemical Corporation
• Owens Corning
• Plasan Carbon Composites
• PPG Industries, Inc.
• Reliance Industries Limited.
• SGL Carbon SE
• Solvay S.A.
• Teijin Limited
• Toray Advanced Composites

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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