Top 3 Trends in the Global Thermoset Resin Composites Market | Technavio

October 29, 2017

LONDON–(BUSINESS WIRE)–#Composites–Technavio’s latest market research report on the global
thermoset resin composites market provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

One of the key factors resulting in the growth of the global thermoset
resin composites market is the increasing demand for lightweight
vehicles. Thermoset resin composites are utilized in exterior, interior,
and other components. Fiber-reinforced composites, which include
thermoset resins are replacing steel as they can integrate parts, reduce
the weight of components, and operate with high efficiency.

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The three emerging market trends driving the global thermoset resin
composites market according to Technavio research analysts are:

Rise in cost-effective alternatives
Demand for SMC and BMC structural-thermoset resin composites
Demand for advanced high-performance composites from automobile
industry

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Rise in cost-effective alternatives

Thermoset compounds have long lifespans, especially the sheet molding
compound (SMC) and bulk molding compound (BMC) structural-thermoset
resin composites. Thermoset resin composites can consolidate parts,
thereby decreasing the number of separate parts. The requirement for
maintenance reduced by using thermoset
resins, as it abolishes the need for coloring and finishing. Complex
designs require multiple parts and heavyweight components to exhibit
high strength and stiffness during the manufacturing process. Due to the
properties such as high strength, lightweight, and easy molding of
intricate details, thermoset resins have the edge over other metals.

According to Kurva Samba Sivudu, a lead analyst at Technavio for textile,
fiber, and composites, “A series of processes are undertaken
and then assembled to create the desired final product in designs that
require multiple pieces. The production process of complex parts can be
downsized to a single step using thermoset resin composites. This makes
the production efficient and quick by reducing the necessity of
secondary operations. Therefore, thermoset resin composites can offer
cost-effective alternatives due to efficient and fast production for all
end-user sectors.”

Demand for SMC and BMC structural-thermoset resin composites

The increasing demand for lightweight vehicles and cost-effective
materials, alongside the need to reduce the number of materials used,
are expected to increase the market for SMC and BMC structural-thermoset
resin composites. Thermosets provide high performance and are produced
according to specific applications. The concentration and the amount of
resins that are used vary according to the requirement.

“SMC is used as a cost-effective alternative to metals used in the
aerospace, consumer goods, medical device, and transportation
industries. SMC possess less percentage of reinforcement compared with
other structural grades of composites. Due to good mechanical properties
and better appearance of SMC, it is replacing the sheet metals that are
used in electrical components, watercrafts, sports equipment, and skid
plates,” says Kurva.

Demand for advanced high-performance composites from automobile
industry

The demand for high performance has increased the number of structural
parts, which has further increased the weight in the automobile
industry. Automobile manufacturers need advanced materials to reduce
weight and operate motors at higher temperatures. Structural-thermoset,
which is a resin composite, is expected to respond to the need with its
durable characteristics. The demand for thermoset resins used in
interior components of automobiles is rising due to advanced dielectric
properties and resistance to heat.

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