Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Recyclable Thermoset Market - A Global and Regional Analysis: Focus on Resin Type, Application, Technology, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global recyclable thermoset market is projected to reach $987.9 million by 2031 from $536.8 million in 2022, growing at a CAGR of 7.01% during the forecast period 2022-2031.
The growth in the global recyclable thermoset market is expected to be driven by the advancement in thermoset recycling technologies globally, investments and collaboration in the plastic recycling industry, and regulations promoting plastic recycling in various countries.
However, the complex process of thermoset recycling and the lack of proper infrastructure for hard-to-recycle products are some key restraining factors for the market.
Market Lifecycle Stage
The global recyclable thermoset market is in a growing phase. New trends, such as the rising focus on sustainability in the wind energy sector, change in business models of companies due to climate action, and replacing virgin materials with recyclable thermosets and venturing into new end-user applications are further expected to provide opportunities for the market to grow in the coming years.
Industrial Impact
With an increased worldwide focus on increasing focus on sustainability and bio-based renewable materials, there is an increasing shift toward advanced recyclable materials in end-use industries, thereby creating demand for recyclable thermosets. The shift is more prominent in the construction, automotive and energy industries in regions such as Europe, North America, and China.
Impact of COVID-19
The COVID-19 pandemic had a minor impact on the global recyclable thermoset market. It altered the market in both positive as well as negative ways. During the COVID-19 pandemic, sectors such as energy and power and consumer electronics appliances showed positive growth, while demand from end-use industries, including automotive, construction, and aerospace, was impacted negatively due to the economic slowdown.
Recent Developments in the Recyclable Thermoset Market
- In November 2022, the Dow Chemical Company collaborated with WM to improve the status of hard-to-recycle plastic films. The collaboration would allow WM to divert nearly 120,000 metric tons of plastic waste from landfills.
- In June 2022, PuriCycle is a new series of enhanced high-performance products from BASF SE for the purification of the most complex mixed plastic pyrolysis feeds. PuriCycle's portfolio includes innovative catalysts and adsorbents that have been designed to selectively remove and convert a wide range of contaminants in pyrolysis oils, allowing for the separation process of circular plastic flows. PuriCycle can assist companies in meeting industry compositional standards required, gaining high-efficiency purifying and upgrades solutions, and increasing their flexibility inside the chemical recycling of plastics.
- In June 2022, the Dow Chemical Company expanded its project REFLEX initiative in Guinea and Egypt after the successful pilot phase in Nigeria. With this, the company aims to divert 10,000 metric tons of flexible packaging waste by the end of 2025.
Demand - Drivers and Limitations
The following are the demand drivers for the global recyclable thermoset market:
- Advancement in Thermoset Recycling Technologies Globally
- Regulations Promoting Plastic Recycling in Various Countries
- Investments and Collaboration in Plastic Recycling Industry
The following are the challenges for the global recyclable thermoset market:
- Complex Process of Thermoset Recycling
- Lack of Proper Infrastructure for Hard-to-Recycle Products
Key Market Players and Competition Synopsis
The companies profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, and market penetration.
Key Companies Profiled
- Mallinda Inc.
- MCR Mixt Composites Recyclables
- INTCO Recycling Group
- Adesso Advanced Materials Inc.
- Aditya Birla Chemicals
- GAIKER Technology Center
- Mobius Technologies GmbH
- The Dow Chemical Company
- BASF SE
- ENSO Plastics
- PolyCeramX
- EcoActiv Pty Ltd
- SPERO RENEWABLES
- Northstar Recycling Company, Inc.
- Gr3n Recycling
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 260 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $536.8 Million |
| Forecasted Market Value (USD) by 2031 | $987.9 Million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Rising Focus on Sustainability in Wind Energy Sector
1.1.1.2 Change in Business Models of Companies due to Climate Action
1.1.2 Value Chain Analysis
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Associations
1.1.3.2 Regulatory Bodies
1.1.3.3 Programs by Research Institutions and Universities
1.1.4 Impact of COVID-19 on the Recyclable Thermoset Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Advancement in Thermoset Recycling Technologies Globally
1.2.1.2 Regulations Promoting Plastic Recycling in Various Countries
1.2.1.3 Investments and Collaboration in Plastic Recycling Industry
1.2.2 Business Challenges
1.2.2.1 Complex Process of Thermoset Recycling
1.2.2.2 Lack of Proper Infrastructure for Hard-to-Recycle Products
1.2.3 Business Opportunities
1.2.3.1 Replacing Virgin Materials with Recyclable Thermoset and Venturing into New End-User Applications
1.2.3.2 Increasing Focus on Sustainability and Bio-Based Renewable Materials
1.2.4 Business Strategies
1.2.4.1 Product Developments
1.2.4.2 Market Developments
1.2.5 Corporate Strategies
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
1.4 Porter's Five Forces Analysis
1.5 New Policies for Recycling
1.5.1 New Policies and Regulations, by Country
1.6 Comparative Analysis of Technologies
1.7 Product Life Cycle Analysis for Major Applications
1.8 Opportunity Analysis by Companies
2 Application
2.1 Recyclable Thermoset Market - Application and Specification
2.1.1 Automotive
2.1.2 Energy and Power
2.1.3 Construction
2.1.4 Electrical and Electronics
2.1.5 Aerospace and Defense
2.1.6 Others
2.1.6.1 Sports and Leisure
2.1.6.2 Marine
2.2 Global Recyclable Thermoset Market (by Application), Volume and Value Data
3 Products
3.1 Recyclable Thermoset Market - Resin Type and Specifications
3.1.1 Unsaturated Polyester Resin (UPR)
3.1.2 Epoxy
3.1.3 Phenol Formaldehyde (Phenolic Resin)
3.1.4 Polyurethane
3.1.5 Others
3.2 Global Recyclable Thermoset Market (by Resin Type), Volume and Value Data
3.3 Recyclable Thermoset Market - Technology
3.3.1 Mechanical Recycling
3.3.2 Chemical Recycling
3.3.3 Energy Recovery (Thermal)
3.4 Global Recyclable Thermoset Market (by Technology), Volume and Value Data
3.5 Product Benchmarking: Growth Rate-Market Share Matrix
3.6 Patent Analysis
3.6.1 Patent Analysis (by Status)
3.6.2 Patent Analysis (by Leading Countries)
3.7 Global and Regional Level: Average Pricing Analysis
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Services Offered by Key Companies
5.1.3 Market Share Analysis of Key Companies
5.2 Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/yfc5b0
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