Recyclable Thermosets Market | Contrive Datum Insights

The Recyclable Thermosets Market size was valued at US$ 344.15 Million in 2022 and the total revenue is expected to grow at 3% through 2023 to 2030, reaching nearly US$ 410.93 Million in the forecast period.

Recyclable Thermosets Market Overview:

Thermosets are a special class of polymers that form well-defined, permanent chemical networks that appear to expand in three dimensions during curing, which can be achieved by heating or adding a curing agent. This leads to the formation of crosslinks, which give thermosets a strong and rigid structure and can be added to other materials for added strength.

Thermoset materials are highly utilized in advanced applications, especially in the aerospace and military industries, as a wide variety of composite materials can be produced in the presence of thermoset materials. These include reinforced carbon fiber and glass. Although polymers are widely used in various industrial applications, recycling thermoset plastics is very difficult. This is likely to act as a major restraining factor for the thermoset plastics market. Existing thermoset plastics or polymers are difficult to reshape or reset once they have cured in the recycling process. Therefore, they burn and decompose at very high temperatures. This is the major restraint of the market that may hamper the growth of the global recycled thermoset plastics market in the future.

Recyclable Thermosets market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Recyclable Thermosets market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we considered the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In January 2021, Eastman Chemical Company announced it would invest approximately $250 million over the next two years to build one of the world's largest plastic-to-plastic molecule recycling facilities at its Kingsport, Tennessee, facility. Eastman Chemical Company is an American company primarily engaged in the recycling industry.
• In November 2020, the U.S. Department of Energy (DOE) announced more than $27 million in funding for 12 projects to support the development of advanced plastic recycling technologies and the design of new plastics for recycling in 2020-2021. As part of the DOE Plastics Innovation Challenge, the projects will also help improve existing recycling processes that break down plastics into their chemical building blocks. This will help replace recycled products instead of new plastic products.
• In July 2019, Aditya Birla Chemical acquired recyclable thermoset technology from Connor Technologies. Connor Technologies is a pioneer in recyclable epoxy resin technology. Aditya Birla Group and Connor Technologies have been in a joint development agreement since 2016 to scale up the manufacturing of Connor's recyclable epoxy thermoset technology. The technology not only creates incremental value for customers through zero-waste manufacturing but also provides end-of-life recycling options for Aditya Birla chemicals.
• In February 2015, Aditya Birla Chemicals (India) Limited merged with Grasim Industries Limited. The merger integrates Aditya Birla Group's Chlor-alkali business into Grasim and strengthens its existing portfolio of viscose staple fiber, caustic soda, and related chemicals in a stand-alone company. The merger will allow Grasim to diversify geographically by adding to ABCIL's nationwide manufacturing facilities. It also enables businesses to capitalize on growth opportunities by introducing operational and financial synergies, backed by the strength of Grasim.

Major Segments Covered in the Global Recyclable Thermosets Market:

Market Key Players:
Adesso Advanced Materials Inc, Aditya Birla Chemicals, Connora Technologies, Demacq Recycling Composiet, ECO-WOLF INC, Fraunhofer Institute for Applied Polymer Research, GAIKER-IK, IBM Corporation, INTCO Recycling, MCR Mixt Composites Recyclables, Mallinda, LLC, Northstar Recycling, And Others.

Recyclable Thermosets Market by Types:

• Mechanical Recycling
• Energy Recovery
• Feedstock Recycling

• Unsaturated Polyester Resin
• Epoxy Resin
• Phenolic Resin
• Polyurethane Resin
• Other

Recyclable Thermosets Market by Applications:

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

Recyclable Thermosets Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

Asia Pacific is likely to be one of the largest consumers of recyclable thermoset plastics during the forecast period of the report due to increasing vehicle production in the region. Growing population, robust economy, and rising disposable income in the Asia Pacific have led to significant growth in the automotive industry over the past few years, thereby enhancing the growth prospects of several related industries.

Significant Market Dynamics:

Trends And Opportunities:

There is a growing awareness of environmental protection by avoiding the accumulation of non-recyclable polymers in landfills and unregulated places. Tax incentives and regulations have been introduced to encourage the development of recyclable thermoset materials. In response, researchers have designed new polymers that not only have the same high-performance characteristics as traditional thermosets, but can also be recycled. Favorable research activities are significantly driving the global market for recyclable thermoset materials.

Changing regulatory scenarios and rising consumer awareness about the importance of reducing the use of fossil fuels is also crucial to the growth of the market and will significantly drive the market over the forecast period of the report.

Some of the main recyclable thermoset plastics currently on the market are polyhexahydrotriazine (PHT), hemiacetal dynamic covalent network (HDCN), carbon nanotube-added polyhexahydrotriazine, epoxy resin/polyepoxy resin, phenolic resins and unsaturated polyester resins (UPR).

End-use industries such as aerospace, electronics, and automotive are expected to lead to increased demand for recycled thermoset materials to manufacture various products and product parts.

Report Scope of Global Recyclable Thermosets Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Any special requirements about this report, please let us know and we can provide a custom report.

Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.