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Composite Resin Manufacturing: Latest Technologies and Techniques

Composite resins are engineered materials composed of a polymer matrix reinforced with fibers such as glass, carbon, or aramid. These materials are prized for their exceptional strength-to-weight ratio, durability, and resistance to environmental factors. The chemical industry has seen a surge in demand for composite resins due to their versatility and performance in a wide range of applications. Key industries driving this demand include automotive, aerospace, construction, and energy, where lightweight and durable materials are essential for innovation and efficiency. According to the new market research report "Composite Resin Market by Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Filament Winding, Injection Molding, Pultrusion, Compression Molding, Resin Transfer Molding), Application and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Composite Resin Market size is projected to reach USD 27.4 billion by 2026, at a CAGR of 6.0%, during the forecast period. The report supplies the worldwide monetary challenge with the help of Porter's Five Forces Analysis and SWOT Analysis also provides information about composite resin industry trends, share, size, growth, opportunity and review.

Browse in-depth TOC on "Composite Resin Market"

223 – Tables
79 – Figures
312 – Pages

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The composite resin are used in a number of applications such as construction & infrastructure, transportation, electrical & electronics, pipes & tanks, wind energy, marine, aerospace & defense, and other applications, which helps the market to grow rapidly. In addition to this, the growing demand in for composite resin in various end-use industries from emerging economies such as China, and India is also propelling the growth of the market.

However, the outbreak of COVID-19 has created ripples in various end-use industries, leading to reduced demand for composite resin. Due to the lockdown scenario in Europe and North America, the demand for composite resin from construction, transportation, wind energy, etc, declined sharply in the first quarter of 2020.

Composite Resin Manufacturing Processes

🧪 Layup: Layers of fiber reinforcements are placed in a mold and saturated with resin. Used for large, complex shapes like boat hulls and aircraft components.

🧪 Filament Winding: Resin-soaked fibers are wound around a rotating mandrel to create strong, hollow structures. Ideal for pipes and pressure vessels.

🧪 Injection Molding: Resin mixed with short fibers is injected into a mold under high pressure. Suitable for automotive parts and consumer goods.

🧪 Pultrusion: Continuous fibers are pulled through a resin bath and heated die to form profiles of constant cross-section. Used for rods and structural profiles.

🧪 Compression Molding: A resin and fiber mixture is placed into a heated mold and compressed to form the shape. Common for automotive components and enclosures.

🧪 Resin Transfer Molding (RTM): Dry fiber preforms are placed in a mold, and resin is injected to saturate and cure the composite. Used for high-performance aerospace and automotive parts.

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Thermoset composite resin to have the largest market share in the composite resin market during the forecast period.

Thermoset composite resin is the major resin. It is used as a matrix with carbon, glass, natural, and aramid fibers. These resins are widely used for manufacturing of composites, as when uncured, they are in the liquid state at room temperature. This unique property of thermoset resins allows convenient impregnation of reinforcing fiber. The major types of thermoset resins which are widely used in composites are unsaturated polyester resin, epoxy resin, vinyl ester resin and others such as phenolic, polyimide, etc. The unsaturated polyester resin segment has a major share in the global thermoset composite resin market, owing to its wide acceptability in end-use industries such as construction, transportation, aerospace & defense, wind energy, etc.

Layup manufacturing process is predicted to register the largest share in the global composite resin market during the forecast period, in terms of value.

The layup manufacturing process led the global composite resin market. In this process, the orientation of the fibers can be controlled as needed so that they can absorb maximum stresses to which they are subjected. Layup process is also used in the production of high quality colored composite surfaces. The process utilizes thermoset resins, such as polyester and epoxy, for the production of composites using carbon or aramid long fiber as reinforcement. In some applications, vinyl ester and phenolic resins are used as matrix in the layup process. It is widely used for composite parts manufacturing in wind energy and marine applications, primarily because of low-cost tooling required for manufacturing a wide range of products

The wind energy application segment is expected to account for the largest share in the composite resin market during the forecast period, in terms of value.

Wind turbine blades are the key components in wind power generation system. Wind turbine blade manufacturing has been growing exponentially since 2005 and the production is expected to triple in the next decade. Fiber-reinforced composites in wind turbine blades are widely used in the development of large-scale wind turbines. Composite resin is used to manufacture wind blades and other composite components to withstand the harsh environment, especially in offshore applications. It is expected to be the most promising application segment, especially in APAC, in the next five years due to greater focus of India and China on producing electricity through renewable sources. The European government is also supporting the use of renewable and energy-efficient systems to boost the wind energy industry in the region. In Europe, two-thirds of the non-nuclear research budget has been allocated to research and development on renewable and energy efficiency systems which in turn, will augment the growth of the composite resin market.

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APAC region to account for the largest market share in the composite resin market during the forecast period.

APAC was the largest composite resin market, in terms of value, in 2020. The increasing use of composite resin in applications such as construction, transportation, wind energy, aerospace & defense, and others is expected to provide new growth opportunities to the market. Furthermore, high economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and the global shift of production facilities from developed markets to developing markets are some of the key factors driving the composite resin market in Asia Pacific.

Composite Resin Market Key Players

The key players in the market include Huntsman International LLC (US), Hexion, Inc (US), The Dow Chemical Company (US), Ashland Global Holdings, Inc (US), Sumitomo Bakelite Co., Ltd, (Japan), Schott Bader Company Limited (England), Royal DSM N.V (Netherlands), BASF SE (Germany), Kukdo Chemical Co., Ltd. (South Korea), Polynt S.p.A (Italy), SABIC (Saudi Arabia), Arkema SA (France), Evonik Industries AG (Germany), Atul Ltd (India), Allnex Composites (Germany), Nan Ya Plastics Corporation (Taiwan), Showa Denko K.K (Japan), Swancor Holdings Co., Ltd (Taiwan). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composite resin market.

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 39)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
FIGURE 1 COMPOSITE RESIN MARKET SEGMENTATION
1.3.1 REGIONS COVERED
1.3.2 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 UNIT CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 43)
FIGURE 2 COMPOSITE RESIN MARKET: RESEARCH DESIGN
2.1 BASE NUMBER CALCULATION
2.1.1 SUPPLY-SIDE APPROACH
2.1.2 DEMAND-SIDE APPROACH
2.2 FORECAST NUMBER CALCULATION
2.2.1 SECONDARY DATA
2.2.2 PRIMARY DATA
2.2.2.1 Primary interviews – Top composite resin manufacturers
2.2.2.2 Breakdown of primary interviews
2.2.2.3 Key industry insights
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 3 COMPOSITE RESIN MARKET: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 4 COMPOSITE RESIN MARKET: TOP-DOWN APPROACH
2.4 DATA TRIANGULATION
FIGURE 5 COMPOSITE RESIN MARKET: DATA TRIANGULATION
2.5 FACTOR ANALYSIS
2.6 ASSUMPTIONS
2.7 LIMITATIONS & RISKS

3 EXECUTIVE SUMMARY (Page No. - 50)
FIGURE 6 THERMOSET COMPOSITE RESIN TYPE DOMINATED THE COMPOSITE RESIN MARKET IN 2020
FIGURE 7 LAYUP MANUFACTURING PROCESS LED THE COMPOSITE RESIN MARKET IN 2020
FIGURE 8 WIND ENERGY APPLICATION LED THE MARKET IN 2020
FIGURE 9 CHINA TO BE THE FASTEST-GROWING REGION IN THE COMPOSITE RESIN MARKET DURING THE FORECAST PERIOD
FIGURE 10 APAC LED THE COMPOSITE RESIN MARKET IN 2020

4 PREMIUM INSIGHTS (Page No. - 54)
4.1 ATTRACTIVE OPPORTUNITIES IN THE COMPOSITE RESIN MARKET
FIGURE 11 HIGH DEMAND FROM END-USE INDUSTRIES TO DRIVE THE COMPOSITE RESIN MARKET
4.2 COMPOSITE RESIN MARKET, BY RESIN TYPE
FIGURE 12 THERMOSET COMPOSITE RESIN TYPE DOMINATED THE OVERALL MARKET
4.3 COMPOSITE RESIN MARKET, BY MANUFACTURING PROCESS
FIGURE 13 LAYUP MANUFACTURING PROCESS LED THE COMPOSITE RESIN MARKET
4.4 COMPOSITE RESIN MARKET, BY APPLICATION
FIGURE 14 CONSTRUCTION & INFRASTRUCTURE APPLICATIONS LED THE COMPOSITE RESIN MARKET
4.5 COMPOSITE RESIN MARKET, BY KEY COUNTRY
FIGURE 15 MARKET IN INDIA TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 57)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE COMPOSITE RESIN MARKET
5.2.1 DRIVERS
5.2.1.1 Growing automotive & transportation industry
FIGURE 17 GLOBAL ELECTRIC VEHICLE STOCK, BY REGION, 2010–2020
5.2.1.2 Growing demand for wind energy due to increasing focus on renewable sources of energy
5.2.1.3 Increase in demand for thermoplastic resin
5.2.2 RESTRAINTS
5.2.2.1 High processing and manufacturing cost
5.2.2.2 Recycling-related issues
5.2.3 OPPORTUNITIES

Continued...

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