Massive use of molding compounds in a slew of applications such as industrial, electrical, packaging, manufacturing, aerospace, and automotive drives the expansion of the global molding compounds market. The large-scale use of epoxy resins and phenolic resins as insulating materials and cladding panels in construction activities across Mexico, China, India, Japan, and the U.S. will generate new growth avenues for the global market.
Portland, OR, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global molding compounds market amassed revenue of nearly $10.10 billion in 2021, and is expected to hit nearly $17.02 billion by 2031, registering a CAGR of 5.5% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
Report Coverage & Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Resin Type, Application, and Region
Massive use of molding compounds in a slew of applications such as industrial, electrical, packaging, manufacturing, aerospace, and automotive.
Outstanding thermal stability, rust resistance, and high strength have enhanced the use of molding compounds in thermal insulation applications.
Large-scale use of epoxy resins and phenolic resins as insulating materials and cladding panels in construction activities across Mexico, China, India, Japan, and the U.S.
Molding compounds are industrial plastics and have a negative effect on health as their use causes cough, eye irritation, and skin itching.
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• The Covid-19 pandemic adversely impacted the expansion of the global molding compounds market, due to interruptions in the supply chain.
• Shutdown of a large number of production units globally, owing to the COVID-19 pandemic, led to the loss of production as well as a labor shortage. This hampered growth of the global market.
The report offers detailed segmentation of the global molding compounds market based on the resin type, application, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
In terms of the resin type, the phenolic segment contributed the largest market share in 2021, accounting for nearly two-fifths of the overall share of the global molding compounds market. Moreover, this segment is predicted to retain its number one position during the forecast timespan. In addition, the phenolic segment is set to record the highest CAGR of nearly 6.0% from 2022 to 2031. The report also provides an overall analysis of segments such as polyester, epoxy, and others.
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On basis of application, the electrical and electronics segment held the largest share in 2021, contributing nearly one-third of the overall share of the global molding compounds market. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the electrical and electronics segment is also anticipated to record the fastest growth with a CAGR of nearly 6.1% during the forecast timeframe. The report also provides an overall analysis of segments such as aerospace, automotive, and others.
Based on region, the Asia-Pacific contributed toward the highest market share in 2021, accounting for more than two-fifths of the global molding compounds market share. Moreover, the region is predicted to contribute majorly toward the global market share in 2031. In addition, the Asia-Pacific Molding compounds market is also set to record the highest CAGR of 5.9% during the forecast timeline. The research also analyzes regions including LAMEA, Europe, and North America.
Leading players in the global molding compounds market analyzed in the research include BASF SE, The Lubrizol Corporation, CAPLINQ Corporation, Sumitomo Chemical Co., Ltd., Eastman Chemical Company, Starfire Systems Inc., Evonik Industries AG, SPF Composites, Henkel AG & Co. KGAA, Mar-Bal, Inc., PLEXIGLAS, Owens Corning., SBHPP, PPG Industries, Inc., and Toray Industries, Inc.
The report evaluates these major participants in the global molding compounds industry. These players have executed a plethora of major business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product portfolios in the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product launches on the overall market size.
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