Recyclable Thermoset Market to reach over US$ 980.77 million by the year 2031 - Exclusive Report by InsightAce Analytic

JERSEY CITY, N.J., Oct. 25, 2023 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of the market assessment report on Global Recyclable Thermoset Market Size, Share & Trends Analysis Report by Technology (Mechanical Recycling, Feedstock Recycling, And Energy Recovery), Resin Type (Unsaturated Polyester (UPR), Epoxy Phenol-Formaldehyde (Phenolic), Polyurethane) And By End User Industry, By Region, Revenue (US$ Mn), Volume (KT) And Segment Forecasts, 2023-2031

According to the latest research by InsightAce Analytic, the global recyclable thermoset market size is valued at 568.31 million in 2023 and is predicted to reach 980.77 million by the year 2031 at an 7.1% CAGR during the forecast period for 2023-2031. 

The curing process, which can be triggered by heating or by adding a curing agent, causes thermosets, a particular family of polymers, to create clearly defined, permanent chemical networks that appear to grow in three dimensions. Due to the creation of crosslinks between its chemical constituents, the thermoset develops a strong, rigid structure that can be applied to other materials to boost strength. In contrast to typical thermoplastics, which are also referred to as thermoset polymers, thermosets are covalently cross-linked polymers that have superior resistance to a number of environmental, mechanical, and thermal variables even at high temperatures. Due to their readily accessible melting points, thermoset polymers are linear polymers that can be recycled and reprocessed utilizing heat energy. Consumers are drawn to the global recyclable thermoset polymer, which has made progress toward the development of new series and kinds of thermosets with recycling potential. All these factors drive the recyclable thermoset market growth.

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List of Prominent Players in the Global Recyclable Thermoset Market:

• Adesso Advanced Materials Inc.
• Aditya Birla Chemicals
• Connora Technologies
• Demacq Recycling Composiet
• ECO-Wolf Inc.,
• Fraunhofer Institute for Applied Polymer Research
• GAIKER-IK4
• INTCO Recycling
• Mallinda, LLC
• MCR Mixt Composites Recyclables
• Mobius Technologies GmbH
• neocomp GmbH
• Northstar Recycling
• The Dow Chemical Company
• BASF SE
• ENSO Plastics
• PolyCeramX
• EcoActiv Pty Ltd
• Spero Renewables
• Gr3n Recycling
• PerPETual Global
• Syngas Products Group Limited among others

Market Dynamics:

Drivers-

The market for recyclable thermosets is projected to expand as a result of growing awareness about lowering reliance on fossil fuels for the manufacturing of polymers and plastics. With the help of plastic recycling technologies, trash production and carbon emissions might both be decreased. It will aid in preventing the buildup of significant volumes of plastic trash in the environment and landfills. The fact that carbon fiber parts are produced in large quantities and a large portion of the raw materials are wasted is a driving force for recycling thermosets. Carbon fibers will be required to lower environmental emissions by reducing fuel usage, which will spur market expansion for recyclable thermosets. Due to their lightweight nature, recyclable thermosets will become increasingly popular in the automobile sector, particularly for sports cars. To meet market demand, the end-use sector has increased the penetration of composite parts.

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Challenges:

Due to their ability to generate various composites, thermosets are widely used in high-tech applications, particularly in the aerospace and defense sectors. These materials include glass and reinforced carbon fibers. Despite the widespread use of polymers in several industrial applications, recycling thermosets is extremely challenging. This might have a significant negative impact on the thermoset market. Once they have dried out from the recycling process, existing thermosets or polymers are very difficult to remould or reset. They will therefore burn and degrade at extremely high temperatures. This is the main market limitation that could prevent future expansion in the worldwide recycled thermoset market.

Regional Trends:

The Asia-Pacific is projected to hold the top spot for the recyclable thermoset market over the next five years due to the higher adoption of mechanical recycling technology, which is further enhanced by affordable labor and comparatively laxer waste usage rules. Due to the existence of assembly/manufacturing facilities for extremely cost-sensitive industries including electrical & electronics, wind energy, transportation, and building & construction, Asia-Pacific is also the world's largest producer and purchaser of composite materials.

On the other hand, the end-of-life-vehicle (ELV) directive of the European Europe is anticipated to grow at a significant rate the market because of the strict government regulations prohibiting landfill usage and trash disposal. In the upcoming years, the demand for thermoset recycling in the area is projected to be driven by the aerospace & defence, and transportation sectors.

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Recent Developments:

• In January 2021, Tennessee, Eastman Chemical Co. stated that it will invest roughly USD 250 million over the next two years in the construction of one of the largest plastic-to-plastics molecular recycling facilities in the world.
• In July 2019, Connora Technologies sold recyclable thermoset technology to Aditya Birla Chemical. The recyclable epoxy resin technique was invented by Connora Technologies. In order to scale up the production of Connora Technologies' recyclable epoxy thermoset technology, this technology gives Aditya Birla chemicals options for end-of-life recycling in addition to enabling incremental value creation through zero-waste manufacturing for customers.

Segmentation of Global Recyclable Thermoset Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts, 2023-2031-

By Technology-

• Mechanical Recycling
• Feedstock Recycling
• Energy Recovery

By Resin Type-

• Unsaturated Polyester (UPR)
• Epoxy
• Phenol-Formaldehyde (Phenolic)
• Polyurethane
• Others

By End User Type-

• Construction
• Automotive
• Power Generation
• Electrical & Electronics
• Others

By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

 Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Other Related Reports Published by InsightAce Analytic:

Recyclable Packaging Market Research Report 2023

Advanced Recycling Technologies Market Research Report 2023

Plastic Recycling Market Research Report 2023

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