Global Recyclable Thermosets Market: Overview
The global market for recyclable thermoset polymers has attracted considerable attention in the past few years and the field has significantly advanced toward the development of new classes and varieties of thermosets with recycling capabilities.
Thermosets refer to the covalently cross-linked polymers that have superior resistance to a variety of environmental, mechanical, and thermal factors even at high temperatures and have excellent dimensional stability compared to conventional thermoplastics, which are also called thermoset polymers. Thermoset polymers are linear polymers that can be recycled and reprocessed using thermal energy owing to their easily accessible melting points.
However, thermoplastics are not durable enough to be used in high performance applications, and are replaced by thermosets for applications that require materials that are indestructible or are virtually impossible to break down/melt or process using conventional thermoplastic recycling techniques. Consequently, discarding these thermosets in landfills than trying to recycle them has been the most preferred course of action of working around with thermosets. But developments in the global recyclable thermosets market are projected to bring a substantial change in this scenario.
The report on the global recyclable thermosets market presents a detailed analysis of the most prominent drivers, challenges, and trends observed in the present-day market. It also provides an overview of the past and present state of key market elements, and forecasts the market’s growth prospects from 2016 through 2024.
Global Recyclable Thermosets Market: Key Trends and Opportunities
There has been rising awareness regarding environmental protection by avoiding the accumulation of unrecyclable polymers in landfills and unregulated places. Tax incentives and regulations have been introduced to encourage the development of recyclable thermosets. In response, researchers have designed some novel polymers that do not only have high performance features in line with conventional thermosets, but are also recyclable. The favorable research activities have substantially boosted the global market for recyclable thermosets.
The changing regulatory scenario and the rising consumer awareness regarding the importance of reducing the use of fossil fuels are also crucial for the market’s growth and will significantly drive the market over the report’s forecast period.
Some of the key recyclable thermosets available in the market currently are polyhexahydrotriazine (PHT), hemiaminal dynamic covalent networks (HDCNs), polyhexahydrotriazine added with carbon nanotubes, epoxy/polyepoxide resins, phenol formaldehyde, and unsaturated polyester resins (UPR).
End use industries such as aerospace, electronics, and automobiles are projected to lead to an increased demand for recyclable thermosets to manufacture a variety of products and product parts.
Global Recyclable Thermosets Market: Region-wise Outlook
Asia Pacific is likely to be one of the largest consumers of recyclable thermosets over the report’s forecast period owing to the rising production of automobiles in the region. The rising population, coupled with strengthening economies, and rising disposable incomes in Asia Pacific have led to significant growth of the automobiles sector in the past few years, thereby enhancing growth prospects of several allied industries.
This has also benefitted the market for recyclable thermosets in the past years and is expected to do so over the report’s forecast period. Demand for recyclable thermosets is also expected to increase in developed regional markets such as North America and Europe where stringent government regulations pertaining to material recycling are stimulating manufacturers to switch to recyclable varieties of core materials.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.