Molding compounds market size is worth $17.02 billion by 2031
Portland, OR, Aug. 18, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the molding compounds market amassed revenue of nearly $10.10 billion in 2021 and is expected to reach nearly $17.02 billion by 2031, registering a CAGR of 5.5% from 2022 to 2031. Market research provides a detailed analysis of changing industry trends, most important segments, value chain analysis, key investment business scenarios, regional space and competitive space. The study is a key source of information for giant players, entrepreneurs, shareholders and owners to generate new strategies for the future and take action to improve their market position. The report presents an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly changing industry.
Report coverage and details:
|Year of reference||2021|
|Market size in 2021||$10.10 billion|
|Market size in 2031||$17.02 billion|
|Number of pages in the report||231|
|Segments Covered||Resin type, application and region|
|Drivers||Massive use of molding compounds in a multitude of applications such as industrial, electrical, packaging, manufacturing, aerospace and automotive.|
|Exceptional thermal stability, rust resistance and high strength have enhanced the use of molding compounds in thermal insulation applications.|
|Opportunities||Large-scale use of epoxy resins and phenolic resins as insulation materials and cladding panels in construction activities in Mexico, China, India, Japan and the United States|
|Constraints||Molding compounds are industrial plastics and have a negative effect on health because their use causes coughing, eye irritation and itchy skin.|
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• The Covid-19 pandemic has negatively impacted the expansion of the global molding compounds market, due to supply chain disruptions.
• The shutdown of a large number of production units around the world, due to the COVID-19 pandemic, has led to a loss of production as well as a shortage of labour. This has hampered the growth of the global market.
The report offers a detailed segmentation of the global molding compounds market on the basis of resin type, application, and region. It provides in-depth analysis of each segment and sub-segment in tables and figures through which consumers can draw conclusion about market trends and outlook. Market report analysis helps organizations, investors, and entrepreneurs to understand which sub-segments are to be tapped to achieve huge growth in the coming years.
In terms of resin type, the phenolic segment contributed the largest market share in 2021, accounting for nearly two-fifths of the overall global molding compound market share. Moreover, this segment is expected to maintain its number one position during the forecast period. Moreover, the phenolic segment is expected to register the highest CAGR of almost 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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Based on applications, the electrical and electronics segment held the largest share in 2021, contributing nearly one-third of the overall global molding compounds market share. Moreover, this segment is expected to account for the highest market share by 2031. In addition, the electrical and electronics segment is also expected to register the fastest growth with a CAGR of almost 6.1% during the period. forecast. The report also provides an overall analysis of segments such as aerospace, automotive, and others.
Based on region, Asia-Pacific contributed the highest market share in 2021, accounting for more than two-fifths of the global molding compounds market share. Moreover, the region is expected to make a major contribution to the global market share in 2031. Additionally, the Asia-Pacific Molding Compounds Market Also Expected to Register Highest CAGR 5.9% over the forecast period. The research also analyzes regions such as LAMEA, Europe and North America.
Key players of 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 assesses these major players in the global molding compounds industry. These players have executed a plethora of major business strategies such as regional and customer base expansion, product development, strategic collaborations and joint ventures to expand product portfolios in global markets. The market research report supports tracking the performance of each segment, the positioning of each product in the respective segments, and the impact of new technologies and product launches on the overall market size.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.