Thermoset resins market expected to reach 95.5 mln tons by 2016

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%.