The thermoset resins market is expected to reach 95.5 million tons by 2016 primarily supported by the segments unsaturated polyesters (UP), phenol-formaldehyde (PF) and epoxy/polyepoxide resins with their end-users plywood, furniture/bedding, building & construction, automotive, consumer products, electronic and etc, as per Researchandmarkets.
Polyurethanes (PU) market is expected to reach 28.2 mln tons by 2016, backed up with their major end-use segments (furniture/bedding, construction, automotive and electronic) in emerging countries across world. Globally, unsaturated polyesters (UP) and phenol-formaldehyde (PF) together account for approximately 30% of the market are expected to support the thermosets industry going forward.
Geographical analysis shows that the highest Compounded Annual Growth Rate (CAGR) of 11.7% is anticipated from Asia-Pacific region during the analysis period, 2011-2016. Polyurethanes (PU) market in Europe is not much far behind compared to Asia-Pacific with a CAGR of 11.1%. Epoxy / Polyepoxide resins market Europe stands as the fastest growing region with a CAGR of 12.5%, while The Americas forecasts to drive with a growth rate of 10.2%.