The Thermoset Composites Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The thermoset composites market report is segmented by fiber type (carbon, glass, and others). The market is segmented based on resin type (polyester, vinyl ester, epoxy, polyurethane, and others). The market is segmented based on the manufacturing process (lay-up process, filament winding process, injection molding process, pultrusion process, resin infusion, and others). The market is segmented based on end-use industry (aerospace and defense, automotive, marine, construction, wind energy, sprting goods, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Thermoset Composites Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Thermoset Composites Market Segmentation
Fiber Type- Carbon
- Glass
- Polyester
- Vinyl Ester
- Epoxy
- Polyurethane
Strategic Insights
Thermoset Composites Market Growth Drivers- Growing Demand in Automotive and Aerospace Industries: Thermoset composites are widely used in the automotive and aerospace sectors due to their high strength-to-weight ratio, durability, and ability to withstand extreme temperatures and harsh conditions. In automotive applications, they help reduce vehicle weight, improve fuel efficiency, and enhance safety. Similarly, in aerospace, these composites are critical for manufacturing lightweight and high-performance components like wings, fuselages, and interior parts. The increasing demand for fuel-efficient and high-performance vehicles and aircraft is driving the market for thermoset composites.
- Expansion in Wind Energy and Infrastructure Applications: Thermoset composites, particularly those using carbon and glass fibers, are extensively used in the wind energy sector for turbine blades due to their superior mechanical properties and ability to withstand outdoor environmental conditions. As the renewable energy industry grows, especially in wind power, the demand for thermoset composites is increasing. Additionally, these materials are used in construction and infrastructure for reinforcing concrete and providing strong, lightweight components, boosting their adoption in these sectors.
- Technological Advancements and Material Innovations: Advancements in thermoset composite technologies, such as improved resin formulations and the development of more efficient manufacturing processes (e.g., automated fiber placement and resin transfer molding), are expanding their applications. These innovations enable the production of more cost-effective, high-performance, and lightweight thermoset composite materials, which are driving their adoption in industries like automotive, aerospace, and renewable energy.
- Expansion in Aerospace and Automotive Sectors: Thermoset composites are increasingly used in the aerospace and automotive industries for lightweight yet durable components, such as aircraft parts, body panels, and structural elements. These composites offer high performance in demanding environments, helping reduce weight and improve fuel efficiency. With the growing demand for electric vehicles (EVs) and advanced aircraft, the market for thermoset composites in these sectors is expanding.
- Innovation in Resin Systems: The development of advanced thermoset resin systems, such as epoxy, polyester, and vinyl ester resins, is driving the growth of the market. These innovations are improving the properties of thermoset composites, such as thermal stability, mechanical strength, and corrosion resistance. As a result, thermoset composites are increasingly used in industries like wind energy, marine, and construction, where durability and performance are critical.
- Sustainability and Recycling: With growing environmental concerns, there is a push for sustainable thermoset composites that can be more easily recycled or reused. Although thermoset composites are traditionally difficult to recycle, advancements in resin technology and recycling processes are making these materials more eco-friendly. This trend is gaining traction, especially in industries like automotive and construction, where companies are focused on reducing waste and minimizing the environmental impact of their products.
- Increasing Demand in Aerospace and Automotive Sectors: Thermoset composites are highly valued for their strength, durability, and resistance to heat and corrosion. These properties make them ideal for aerospace and automotive applications, where lightweight, high-performance materials are critical. With the growing demand for fuel-efficient vehicles and the expansion of the aerospace industry, the adoption of thermoset composites is expected to rise significantly, especially in structural components, engine parts, and interior elements.
- Growth in Renewable Energy Applications: Thermoset composites are increasingly being used in the renewable energy sector, particularly in the manufacturing of wind turbine blades. The need for lightweight, strong, and durable materials to withstand harsh environmental conditions is driving the demand for thermoset composites in wind energy. As the global push for clean energy continues, the demand for these materials in renewable energy applications is expected to grow.
- Technological Advancements and New Applications: Advances in thermoset composite materials, such as the development of high-performance, cost-effective resins and improved manufacturing processes like resin transfer molding (RTM), are expanding the potential applications of these composites. Industries such as construction, marine, and sports equipment are increasingly adopting thermoset composites due to their enhanced performance, design flexibility, and ability to meet stringent regulatory requirements.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Thermoset Composites Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Thermoset Composites Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Advancements in recycling and sustainability are expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the thermoset composites market due to the strong growth of the automotive and wind energy industries in the region.
Based on end-use industry, the wind energy segment is expected to witness the fastest growth during the forecast period.
The Thermoset Composites Market is estimated to witness a CAGR of 6% from 2023 to 2031
Increasing demand for lightweight, high-performance materials in automotive and aerospace is driving the market growth.
SGL Group, Mitsubishi Chemical Corporation, Hexcel Corporation, Johns Manville Corporation, Toray Advanced Composites, IDI Composites International, Norplex-Micarta, Mar-Bal Inc, Solvay, MICAPLY are the key players operating in the thermoset composites market.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Thermoset Composites Market - By Manufacturing Process
1.3.2Thermoset Composites Market - By Fiber Type
1.3.3Thermoset Composites Market - By Resin Type
1.3.4Thermoset Composites Market - By End-Use Industry
1.3.5Thermoset Composites Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.THERMOSET COMPOSITES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.THERMOSET COMPOSITES MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.THERMOSET COMPOSITES MARKET - GLOBAL MARKET ANALYSIS
6.1.THERMOSET COMPOSITES - GLOBAL MARKET OVERVIEW
6.2.THERMOSET COMPOSITES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.THERMOSET COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - MANUFACTURING PROCESS
7.1.OVERVIEW
7.2.MANUFACTURING PROCESS MARKET FORECASTS AND ANALYSIS
7.3.LAY-UP PROCESS
7.3.1.Overview
7.3.2.Lay-Up Process Market Forecast and Analysis
7.4.FILAMENT WINDING PROCESS
7.4.1.Overview
7.4.2.Filament Winding Process Market Forecast and Analysis
7.5.INJECTION MOLDING PROCESS
7.5.1.Overview
7.5.2.Injection Molding Process Market Forecast and Analysis
7.6.PULTRUSION PROCESS
7.6.1.Overview
7.6.2.Pultrusion Process Market Forecast and Analysis
7.7.OTHER PROCESSES
7.7.1.Overview
7.7.2.Other Processes Market Forecast and Analysis
8.THERMOSET COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - FIBER TYPE
8.1.OVERVIEW
8.2.FIBER TYPE MARKET FORECASTS AND ANALYSIS
8.3.GLASS
8.3.1.Overview
8.3.2.Glass Market Forecast and Analysis
8.4.CARBON
8.4.1.Overview
8.4.2.Carbon Market Forecast and Analysis
8.5.OTHERS
8.5.1.Overview
8.5.2.Others Market Forecast and Analysis
9.THERMOSET COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
9.1.OVERVIEW
9.2.RESIN TYPE MARKET FORECASTS AND ANALYSIS
9.3.POLYESTER RESIN
9.3.1.Overview
9.3.2.Polyester Resin Market Forecast and Analysis
9.4.VINYL ESTER RESIN
9.4.1.Overview
9.4.2.Vinyl Ester Resin Market Forecast and Analysis
9.5.EPOXY RESIN
9.5.1.Overview
9.5.2.Epoxy Resin Market Forecast and Analysis
9.6.OTHER THERMOSET RESINS
9.6.1.Overview
9.6.2.Other Thermoset Resins Market Forecast and Analysis
10.THERMOSET COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
10.1.OVERVIEW
10.2.END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3.AEROSPACE AND DEFENSE
10.3.1.Overview
10.3.2.Aerospace and Defense Market Forecast and Analysis
10.4.TRANSPORTATION
10.4.1.Overview
10.4.2.Transportation Market Forecast and Analysis
10.5.MARINE
10.5.1.Overview
10.5.2.Marine Market Forecast and Analysis
10.6.CONSTRUCTION AND INFRASTRUCTURE
10.6.1.Overview
10.6.2.Construction and Infrastructure Market Forecast and Analysis
10.7.OTHERS
10.7.1.Overview
10.7.2.Others Market Forecast and Analysis
11.THERMOSET COMPOSITES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Thermoset Composites Market Overview
11.1.2North America Thermoset Composites Market Forecasts and Analysis
11.1.3North America Thermoset Composites Market Forecasts and Analysis - By Manufacturing Process
11.1.4North America Thermoset Composites Market Forecasts and Analysis - By Fiber Type
11.1.5North America Thermoset Composites Market Forecasts and Analysis - By Resin Type
11.1.6North America Thermoset Composites Market Forecasts and Analysis - By End-Use Industry
11.1.7North America Thermoset Composites Market Forecasts and Analysis - By Countries
11.1.7.1Canada Thermoset Composites Market
11.1.7.1.1Canada Thermoset Composites Market by Manufacturing Process
11.1.7.1.2Canada Thermoset Composites Market by Fiber Type
11.1.7.1.3Canada Thermoset Composites Market by Resin Type
11.1.7.1.4Canada Thermoset Composites Market by End-Use Industry
11.1.7.2Mexico Thermoset Composites Market
11.1.7.2.1Mexico Thermoset Composites Market by Manufacturing Process
11.1.7.2.2Mexico Thermoset Composites Market by Fiber Type
11.1.7.2.3Mexico Thermoset Composites Market by Resin Type
11.1.7.2.4Mexico Thermoset Composites Market by End-Use Industry
11.1.7.3US Thermoset Composites Market
11.1.7.3.1US Thermoset Composites Market by Manufacturing Process
11.1.7.3.2US Thermoset Composites Market by Fiber Type
11.1.7.3.3US Thermoset Composites Market by Resin Type
11.1.7.3.4US Thermoset Composites Market by End-Use Industry
11.2.EUROPE
11.2.1Europe Thermoset Composites Market Overview
11.2.2Europe Thermoset Composites Market Forecasts and Analysis
11.2.3Europe Thermoset Composites Market Forecasts and Analysis - By Manufacturing Process
11.2.4Europe Thermoset Composites Market Forecasts and Analysis - By Fiber Type
11.2.5Europe Thermoset Composites Market Forecasts and Analysis - By Resin Type
11.2.6Europe Thermoset Composites Market Forecasts and Analysis - By End-Use Industry
11.2.7Europe Thermoset Composites Market Forecasts and Analysis - By Countries
11.2.7.1Germany Thermoset Composites Market
11.2.7.1.1Germany Thermoset Composites Market by Manufacturing Process
11.2.7.1.2Germany Thermoset Composites Market by Fiber Type
11.2.7.1.3Germany Thermoset Composites Market by Resin Type
11.2.7.1.4Germany Thermoset Composites Market by End-Use Industry
11.2.7.2France Thermoset Composites Market
11.2.7.2.1France Thermoset Composites Market by Manufacturing Process
11.2.7.2.2France Thermoset Composites Market by Fiber Type
11.2.7.2.3France Thermoset Composites Market by Resin Type
11.2.7.2.4France Thermoset Composites Market by End-Use Industry
11.2.7.3Italy Thermoset Composites Market
11.2.7.3.1Italy Thermoset Composites Market by Manufacturing Process
11.2.7.3.2Italy Thermoset Composites Market by Fiber Type
11.2.7.3.3Italy Thermoset Composites Market by Resin Type
11.2.7.3.4Italy Thermoset Composites Market by End-Use Industry
11.2.7.4Spain Thermoset Composites Market
11.2.7.4.1Spain Thermoset Composites Market by Manufacturing Process
11.2.7.4.2Spain Thermoset Composites Market by Fiber Type
11.2.7.4.3Spain Thermoset Composites Market by Resin Type
11.2.7.4.4Spain Thermoset Composites Market by End-Use Industry
11.2.7.5Russia Thermoset Composites Market
11.2.7.5.1Russia Thermoset Composites Market by Manufacturing Process
11.2.7.5.2Russia Thermoset Composites Market by Fiber Type
11.2.7.5.3Russia Thermoset Composites Market by Resin Type
11.2.7.5.4Russia Thermoset Composites Market by End-Use Industry
11.2.7.6Rest of Europe Thermoset Composites Market
11.2.7.6.1Rest of Europe Thermoset Composites Market by Manufacturing Process
11.2.7.6.2Rest of Europe Thermoset Composites Market by Fiber Type
11.2.7.6.3Rest of Europe Thermoset Composites Market by Resin Type
11.2.7.6.4Rest of Europe Thermoset Composites Market by End-Use Industry
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Thermoset Composites Market Overview
11.3.2Asia-Pacific Thermoset Composites Market Forecasts and Analysis
11.3.3Asia-Pacific Thermoset Composites Market Forecasts and Analysis - By Manufacturing Process
11.3.4Asia-Pacific Thermoset Composites Market Forecasts and Analysis - By Fiber Type
11.3.5Asia-Pacific Thermoset Composites Market Forecasts and Analysis - By Resin Type
11.3.6Asia-Pacific Thermoset Composites Market Forecasts and Analysis - By End-Use Industry
11.3.7Asia-Pacific Thermoset Composites Market Forecasts and Analysis - By Countries
11.3.7.1Australia Thermoset Composites Market
11.3.7.1.1Australia Thermoset Composites Market by Manufacturing Process
11.3.7.1.2Australia Thermoset Composites Market by Fiber Type
11.3.7.1.3Australia Thermoset Composites Market by Resin Type
11.3.7.1.4Australia Thermoset Composites Market by End-Use Industry
11.3.7.2China Thermoset Composites Market
11.3.7.2.1China Thermoset Composites Market by Manufacturing Process
11.3.7.2.2China Thermoset Composites Market by Fiber Type
11.3.7.2.3China Thermoset Composites Market by Resin Type
11.3.7.2.4China Thermoset Composites Market by End-Use Industry
11.3.7.3India Thermoset Composites Market
11.3.7.3.1India Thermoset Composites Market by Manufacturing Process
11.3.7.3.2India Thermoset Composites Market by Fiber Type
11.3.7.3.3India Thermoset Composites Market by Resin Type
11.3.7.3.4India Thermoset Composites Market by End-Use Industry
11.3.7.4Japan Thermoset Composites Market
11.3.7.4.1Japan Thermoset Composites Market by Manufacturing Process
11.3.7.4.2Japan Thermoset Composites Market by Fiber Type
11.3.7.4.3Japan Thermoset Composites Market by Resin Type
11.3.7.4.4Japan Thermoset Composites Market by End-Use Industry
11.3.7.5South Korea Thermoset Composites Market
11.3.7.5.1South Korea Thermoset Composites Market by Manufacturing Process
11.3.7.5.2South Korea Thermoset Composites Market by Fiber Type
11.3.7.5.3South Korea Thermoset Composites Market by Resin Type
11.3.7.5.4South Korea Thermoset Composites Market by End-Use Industry
11.3.7.6Rest of Asia-Pacific Thermoset Composites Market
11.3.7.6.1Rest of Asia-Pacific Thermoset Composites Market by Manufacturing Process
11.3.7.6.2Rest of Asia-Pacific Thermoset Composites Market by Fiber Type
11.3.7.6.3Rest of Asia-Pacific Thermoset Composites Market by Resin Type
11.3.7.6.4Rest of Asia-Pacific Thermoset Composites Market by End-Use Industry
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Thermoset Composites Market Overview
11.4.2Middle East and Africa Thermoset Composites Market Forecasts and Analysis
11.4.3Middle East and Africa Thermoset Composites Market Forecasts and Analysis - By Manufacturing Process
11.4.4Middle East and Africa Thermoset Composites Market Forecasts and Analysis - By Fiber Type
11.4.5Middle East and Africa Thermoset Composites Market Forecasts and Analysis - By Resin Type
11.4.6Middle East and Africa Thermoset Composites Market Forecasts and Analysis - By End-Use Industry
11.4.7Middle East and Africa Thermoset Composites Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Thermoset Composites Market
11.4.7.1.1South Africa Thermoset Composites Market by Manufacturing Process
11.4.7.1.2South Africa Thermoset Composites Market by Fiber Type
11.4.7.1.3South Africa Thermoset Composites Market by Resin Type
11.4.7.1.4South Africa Thermoset Composites Market by End-Use Industry
11.4.7.2Saudi Arabia Thermoset Composites Market
11.4.7.2.1Saudi Arabia Thermoset Composites Market by Manufacturing Process
11.4.7.2.2Saudi Arabia Thermoset Composites Market by Fiber Type
11.4.7.2.3Saudi Arabia Thermoset Composites Market by Resin Type
11.4.7.2.4Saudi Arabia Thermoset Composites Market by End-Use Industry
11.4.7.3U.A.E Thermoset Composites Market
11.4.7.3.1U.A.E Thermoset Composites Market by Manufacturing Process
11.4.7.3.2U.A.E Thermoset Composites Market by Fiber Type
11.4.7.3.3U.A.E Thermoset Composites Market by Resin Type
11.4.7.3.4U.A.E Thermoset Composites Market by End-Use Industry
11.4.7.4Rest of Middle East and Africa Thermoset Composites Market
11.4.7.4.1Rest of Middle East and Africa Thermoset Composites Market by Manufacturing Process
11.4.7.4.2Rest of Middle East and Africa Thermoset Composites Market by Fiber Type
11.4.7.4.3Rest of Middle East and Africa Thermoset Composites Market by Resin Type
11.4.7.4.4Rest of Middle East and Africa Thermoset Composites Market by End-Use Industry
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Thermoset Composites Market Overview
11.5.2South and Central America Thermoset Composites Market Forecasts and Analysis
11.5.3South and Central America Thermoset Composites Market Forecasts and Analysis - By Manufacturing Process
11.5.4South and Central America Thermoset Composites Market Forecasts and Analysis - By Fiber Type
11.5.5South and Central America Thermoset Composites Market Forecasts and Analysis - By Resin Type
11.5.6South and Central America Thermoset Composites Market Forecasts and Analysis - By End-Use Industry
11.5.7South and Central America Thermoset Composites Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Thermoset Composites Market
11.5.7.1.1Brazil Thermoset Composites Market by Manufacturing Process
11.5.7.1.2Brazil Thermoset Composites Market by Fiber Type
11.5.7.1.3Brazil Thermoset Composites Market by Resin Type
11.5.7.1.4Brazil Thermoset Composites Market by End-Use Industry
11.5.7.2Argentina Thermoset Composites Market
11.5.7.2.1Argentina Thermoset Composites Market by Manufacturing Process
11.5.7.2.2Argentina Thermoset Composites Market by Fiber Type
11.5.7.2.3Argentina Thermoset Composites Market by Resin Type
11.5.7.2.4Argentina Thermoset Composites Market by End-Use Industry
11.5.7.3Rest of South and Central America Thermoset Composites Market
11.5.7.3.1Rest of South and Central America Thermoset Composites Market by Manufacturing Process
11.5.7.3.2Rest of South and Central America Thermoset Composites Market by Fiber Type
11.5.7.3.3Rest of South and Central America Thermoset Composites Market by Resin Type
11.5.7.3.4Rest of South and Central America Thermoset Composites Market by End-Use Industry
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.THERMOSET COMPOSITES MARKET, KEY COMPANY PROFILES
13.1.CHONGQING POLYCOMP INTERNATIONAL CORPORATION
13.1.1.Key Facts
13.1.2.Business Description
13.1.3.Products and Services
13.1.4.Financial Overview
13.1.5.SWOT Analysis
13.1.6.Key Developments
13.2.HEXCEL CORPORATION
13.2.1.Key Facts
13.2.2.Business Description
13.2.3.Products and Services
13.2.4.Financial Overview
13.2.5.SWOT Analysis
13.2.6.Key Developments
13.3.HUNTSMAN INTERNATIONAL LLC.
13.3.1.Key Facts
13.3.2.Business Description
13.3.3.Products and Services
13.3.4.Financial Overview
13.3.5.SWOT Analysis
13.3.6.Key Developments
13.4.JEC GROUP
13.4.1.Key Facts
13.4.2.Business Description
13.4.3.Products and Services
13.4.4.Financial Overview
13.4.5.SWOT Analysis
13.4.6.Key Developments
13.5.MITSUBISHI CHEMICAL CORPORATION
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.OWENS CORNING
13.6.1.Key Facts
13.6.2.Business Description
13.6.3.Products and Services
13.6.4.Financial Overview
13.6.5.SWOT Analysis
13.6.6.Key Developments
13.7.PPG INDUSTRIES INC.
13.7.1.Key Facts
13.7.2.Business Description
13.7.3.Products and Services
13.7.4.Financial Overview
13.7.5.SWOT Analysis
13.7.6.Key Developments
13.8.SGL CARBON
13.8.1.Key Facts
13.8.2.Business Description
13.8.3.Products and Services
13.8.4.Financial Overview
13.8.5.SWOT Analysis
13.8.6.Key Developments
13.9.TEIJIN LIMITED
13.9.1.Key Facts
13.9.2.Business Description
13.9.3.Products and Services
13.9.4.Financial Overview
13.9.5.SWOT Analysis
13.9.6.Key Developments
13.10.TORAY INDUSTRIES INC.
13.10.1.Key Facts
13.10.2.Business Description
13.10.3.Products and Services
13.10.4.Financial Overview
13.10.5.SWOT Analysis
13.10.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
1. Chongqing Polycomp International Corporation2. Hexcel Corporation3. Huntsman International LLC.4. JEC Group5. Mitsubishi Chemical Corporation6. Owens Corning7. PPG Industries Inc.8. SGL Carbon9. Teijin Limited10. Toray Industries Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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