Global Casting Resin Market to Reach USD 8.01 Billion By 2031| Growth Market Reports

PUNE, India, June 23, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Casting Resin Market Segments - by Type (Fiberglass Resin, Plastic Resin, and Silicon Resin), By Application (Aluminum Castings, Steel Castings, and Alloy Castings), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 4.7 billion in 2022 and is expected to surpass USD 8.01 billion, expanding at a CAGR of 6.1% by the end of 2031. The market is driven by the increasing use of casting resin in furniture making, crafts, electronics, jewelry, sculptures, and memorabilia.

Recent Developments:

On 30 May 2023, the Araldite insulation epoxy coating was applied to the world's largest transformer. The measurements of this dry-type power transformer are 6.3 meters in width, 9.6 meters in length, and approximately 5 meters in height.

Key Market Players Profiled in the Report

• Euskatfund SL
• Furtenbach GmbH
• Huntsman International LLC
• Hexion
• REFCOTEC
• ASAHI YUKIZAI CORPORATION
• SQ GROUP
• United Erie
• HA-International
• ASK Chemicals
• Vesuvius
• Sika AG

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Regional Highlights:

On the basis of region, the global casting resin market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to dominate the global market due to rapid industrialization as it creates a high demand for casting resins from various end-use industries including construction, jewelry, automotive, and electronics.

These industries use casting resin to create jewelry, sculptures, crafts, and memorabilia, and for clearing encasings and suspensions.

North America is expected to be a rapidly growing region in the global market during the projected period due to the increasing demand for casting resin from the electronics and toys industry. Moreover, the presence of several key players in the region furthers the growth of the market.

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Key Takeaways from the Study:

• Casting is a manufacturing process in which the preheated liquid material is poured into a mold cavity and upon its cooling and solidifying, creates a new object in the shape of any mold. Casting resins are plastic or elastomer compounds that can be melted to make molds, cast parts, or form structures.
• The casting resins are used in making furniture, electronics, crafts, and sculptures, among others. They are also used in other industries such as the automotive industry for clearing suspensions and encasings. It has a water-thin consistency that allows the bubbles to escape and prevents the resin from overheating.
• Epoxy-casting resin is used for manufacturing different types of furniture, regardless of the material. It helps makes the wood water-resistant, impervious to rot & decay, and gives the wood a glossy finish.
• Several manufacturers are investing in product development, which is anticipated to create growth opportunities for the market. The casting resin has a wide variety of applications, such as in developing plastic tools, metal protection, and lightweight automotive composites.
• Plastic resin castings enable the molding of different types of intricate designs. In addition, it also facilitates the casting and painting of resin in any desired color.
• Steel casting has numerous applications, ranging from structural applications requiring high strength to high corrosion resistance for aggressive fluids, and supporting metal cases by resisting the impact.

Read 205 Pages Research Report with Detailed TOC on "Global Casting Resin Market Segments - by Type (Fiberglass Resin, Plastic Resin, and Silicon Resin), By Application (Aluminum Castings, Steel Castings, and Alloy Castings), Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

By Type

• Fiberglass resin
• Plastic resin
• Silicon resin

By Application

• Aluminum casting
• Steel casting
• Alloy casting

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Other Related Reports:

• Global Epoxy Composites Market Segments - by Fiber Types (Glass Fiber, Carbon Fiber, and Others), Manufacturing Processes (Lay-up, Compression Molding, Resin Injection, Resin Transfer Molding, Filament Winding, and Pultrusion), End-users (Aerospace & Defense, Automotive & Transportation, Marine and Oil & Gas, Wind Energy, Sporting & Consumer Goods, Electrical & Electronics, Construction, and Others), and Regions (Europe, North America, Latin America, Asia Pacific, and Middle East & Africa) Market Analysis Forecast, 2020-2027
• Global Epoxide Resins Market by Type (Liquid Epoxy Resins, Solid Epoxy Resins, Halogenated Epoxy Resins, Multifunctional Epoxy Resins, Other Epoxy Resins), By Application (Paints and Coatings, Electrical & Electronics, Adhesives, Composite Materials, Tooling and Casting, Other) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast To 2028
• Global Liquid Epoxy Resin Blends Market by Type (Low viscosity Liquid Epoxy Resin, High viscosity Liquid Epoxy Resin), By Application (Chemical Industry, Water Conservation, Automotive, Electronic, Other), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast To 2028
• Global Epoxy Plasticizers Market by Type (Epoxidized Oil, Epoxy Fatty Acid Monoester, Epoxy Tetrahydrophthalate), By Application (Film & Sheet, Wire & Cable, Coated Fabric, Consumer Goods, Others) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast From 2022 To 2030.

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