Composite resins are increasingly used in industries such as aerospace, automotive, construction, and electronics

WILMINGTON, DE, UNITED STATES, February 27, 2025 /EINPresswire.com/ -- The global composite resin market is experiencing significant growth, driven by increasing demand in the aerospace sector. Composite resins are widely used in aerospace applications due to their high strength-to-weight ratio, excellent durability, and resistance to heat and corrosion.

Market Report by Allied Market Research

- Title: "Composite Resin Market: Global Opportunity Analysis and Industry Forecast, 2023-2032"

- Market Size: Valued at $25.4 billion in 2022, projected to reach $49.4 billion by 2032

- CAGR: 7.0% (2023-2032)

- Segments Covered: Resin Type, Manufacturing Process, Application, Region

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/54189

Key Market Drivers:

- Rising Demand Across Industries: Composite resins are increasingly used in industries such as aerospace, automotive, construction, and electronics due to their lightweight and high-performance properties.

- Advancements in Transportation: Developments in automotive and transport sectors are fueling demand for composite resins.

- Growing Use in Medical Applications: Increased utilization in medical equipment and healthcare presents new growth opportunities.

Market Challenges

- High Production Costs: Manufacturing composite resins remains expensive, limiting their widespread adoption.

- Recycling Challenges: Difficulties in recycling composite resins pose environmental concerns.

Segment Insights

By Resin Type:

- Thermoplastic Resins: Dominated the market in 2022, accounting for over half of the revenue.

- Projected CAGR: 7.1% (2023-2032)

- Growth Factors: Lightweight, durability, and environmental benefits.

By Manufacturing Process:

- Injection Molding: Held the largest market share in 2022, contributing to over one-fourth of the revenue.

- Advantages: Cost-effectiveness, high production rates, and ability to create complex shapes.

- Compression Molding: Expected to register the highest CAGR of 7.5% during the forecast period.

By Application:

- Automotive & Transportation: Largest market share in 2022, driven by the need for lightweight materials.

- Aerospace & Defense: Expected to register the highest CAGR of 7.6% due to increasing applications in aircraft manufacturing.

Regional Analysis:

- Asia-Pacific: The leading regional market, accounting for over two-fifths of global revenue in 2022.

- Projected CAGR: 7.2%

- Key Players: Mitsubishi Chemical Corporation, Toray Industries Inc., Teijin Limited, Owens Corning

Leading Market Players:

Huntsman International LLC

Hexion Inc.

Scott Bader Company Ltd.

DSM

Allnex GmbH

Evonik Industries AG

SABIC

Celanese Corporation

Dow

Sumitomo Bakelite Co., Ltd.

David Correa
Allied Market Research
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