Synthetic and Bio Thermosets Market, By Type, By Application, By End-Use, By Country, and By Region - Global Industry Analysis, Market Size, Market Share & Forecast from 2025-2032
Synthetic and Bio Thermosets Market size was valued at US$ 11,250.43 Million in 2024, expanding at a CAGR of 4.50% from 2025 to 2032.
Synthetic and Bio Thermosets are polymers that, once cured through a chemical reaction, cannot be re-melted or re-shaped. Synthetic thermosets, such as epoxy, phenolic, and unsaturated polyester resins, are derived from petrochemicals and are widely used in industries like automotive, aerospace, and construction due to their durability and heat resistance. Bio-based thermosets, on the other hand, are derived from renewable plant-based sources, such as vegetable oils, and offer a more environmentally friendly alternative to synthetic thermosets. The need for synthetic thermosets arises from their unique properties, including high strength, chemical resistance, and dimensional stability, making them ideal for applications requiring long-term durability and resistance to heat and pressure. Bio-based thermosets are gaining importance due to the growing demand for sustainable and eco-friendly materials. They offer similar performance to synthetic thermosets but with reduced environmental impact, aligning with the push for greener manufacturing processes. The importance of both synthetic and bio thermosets lies in their versatility across multiple sectors, providing solutions for lightweight structures, durable coatings, and efficient energy systems. As industries look to reduce carbon footprints, bio-based thermosets present a promising solution by incorporating renewable resources while maintaining the performance characteristics needed for critical applications.
Synthetic and Bio Thermosets Market- Market Dynamics
Increasing demand for lightweight and fuel-efficient materials in the automotive industry
The automotive industry is experiencing a significant shift towards lightweight and fuel-efficient materials as manufacturers seek to reduce vehicle weight and improve energy efficiency. This trend is driven by stricter regulations on emissions and fuel consumption, particularly in regions like North America and Europe. Thermoset composites, including both synthetic and bio-based types, are gaining popularity for their strength-to-weight ratio and ability to withstand high temperatures, making them ideal for various automotive applications such as structural components, body panels, and engine parts. Reducing vehicle weight directly impacts fuel efficiency by lowering energy consumption, leading to reduced carbon emissions and better overall performance. In addition to fuel savings, lighter vehicles also contribute to improved handling, safety, and acceleration. As governments continue to push for more sustainable practices, the demand for advanced materials like thermosets is expected to grow. According to the U.S. Department of Energy, lightweight materials could reduce vehicle weight by up to 50% in the next decade, significantly enhancing fuel efficiency. This aligns with the growing adoption of composite materials in the automotive sector, where thermosets are increasingly used to meet stringent fuel efficiency and environmental standards. The shift toward these materials not only supports sustainability goals but also promotes innovation in automotive design.
Synthetic and Bio Thermosets Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.50% over the forecast period (2025-2032)
Based on Type segmentation, Synthetic Thermosets was predicted to show maximum market share in the year 2024
Based on End-Use segmentation, Construction was the leading segment in 2024
On the basis of region, North America was the leading revenue generator in 2024
Synthetic and Bio Thermosets Market- Segmentation Analysis:
The Global Synthetic and Bio Thermosets Market is segmented on the basis of Type, Application, End-Use and Region.
The market is divided into two categories based on Type: Synthetic Thermosets and Bio-based Thermosets. Synthetic Thermosets dominate the market due to their superior mechanical strength, heat resistance, and durability, making them ideal for demanding applications in industries like automotive, aerospace, and construction. Their established manufacturing processes and cost-effectiveness further contribute to their widespread use.
The market is divided into five categories based on End-Use: Automotive, Electronics, Construction, Aerospace, Consumer Goods. Construction dominates the market due to the increasing demand for durable, heat-resistant, and long-lasting materials for applications such as flooring, insulation, and structural components. Thermosets provide the necessary strength, fire resistance, and thermal stability, making them ideal for enhancing the safety, longevity, and efficiency of buildings and infrastructure.
Synthetic and Bio Thermosets Market- Geographical Insights
North America leads the market due to its robust automotive, aerospace, and construction sectors, which prioritize high-performance, durable materials. The U.S. government's push for stricter environmental standards has also boosted the adoption of bio-based thermosets, aligning with the growing demand for sustainable solutions. The region's significant investments in research and development further drive innovation in thermoset technologies. Europe follows closely, with countries like Germany and the UK focusing heavily on eco-friendly materials and energy-efficient products. The European Union's stringent regulations on carbon emissions encourage the use of lightweight, fuel-efficient materials like thermoset composites in automotive and construction applications. Additionally, the region's commitment to sustainability has led to increased interest in bio-based thermosets. In Asia-Pacific, rapid industrialization, particularly in China and India, has increased the demand for thermosets, with applications spanning automotive, electronics, and construction. The region's growing infrastructure projects and automotive production are key drivers for synthetic thermosets. The Middle East & Africa and Latin America are emerging markets, where demand is rising due to infrastructural developments and a focus on energy-efficient solutions. Growth in these regions is supported by increasing investments in industries that require durable, high-performance materials.
Synthetic and Bio Thermosets Market- Competitive Landscape:
The competitive landscape of the Synthetic and Bio Thermosets market is characterized by a mix of established players and emerging innovators, all striving to meet the growing demand for high-performance, durable, and sustainable materials. Key competitors are focusing on technological advancements in thermoset formulations to enhance product performance, reduce environmental impact, and cater to diverse industry needs such as automotive, aerospace, construction, and electronics. The market is highly competitive, with companies leveraging research and development (R&D) to introduce novel bio-based alternatives to traditional synthetic thermosets. This shift towards bio-based thermosets is driven by growing environmental concerns, government regulations promoting sustainability, and increasing consumer demand for eco-friendly products. Companies in this space are also exploring partnerships and collaborations with research institutions to accelerate innovation and gain a competitive edge. Additionally, cost-effectiveness remains a critical factor, with many players focusing on streamlining production processes to reduce manufacturing costs and improve profitability. The market is also influenced by regional players with strong local presence, catering to specific demands in emerging markets such as Asia-Pacific, Latin America, and the Middle East. Overall, the market's competitive dynamics are shaped by innovation, sustainability initiatives, and the ability to meet the evolving needs of end-user industries.
Recent Developments:
In March 2024, McClarin Composites completed a strategic acquisition of select polyolefin thermoset molding facilities from Materia Inc., an ExxonMobil subsidiary, enhancing its capabilities in high-performance composites. This acquisition includes a supply agreement for Proxxima(TM) resin systems, which are used in molded thermosets, signaling an expansion into advanced composite materials for various industrial applications.
In October 2024, ExxonMobil secured an exclusive licensing agreement to expand the global reach of Neuvokas Corporation's composite rebar manufacturing process, enhancing the use of lightweight, corrosion-resistant GatorBar(R). This collaboration leverages ExxonMobil's Proxxima(TM) resin system, improving production speeds and reducing costs, providing a competitive alternative to traditional steel rebar in construction.
In January 2025, Mallinda launched its groundbreaking VitriMax VHM resin, which enables the economic full recyclability of composite materials. This new resin addresses the challenge of recycling thermoset composites, making it an important advancement for sustainable manufacturing in industries like automotive and aerospace. The innovation promises to enhance the circular economy by reducing waste and promoting the reuse of composite materials.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SYNTHETIC AND BIO THERMOSETS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Hexion Inc.
Huntsman Corporation
Olin Corporation
DowDuPont
Kukdo Chemical Co., Ltd.
Chang Chun Group
Nan Ya Plastics Corporation
BASF SE
LANXESS AG
Celanese Corporation
Daicel Corporation
DSM
Eastman Chemical Company
LG Chem
Mitsubishi Engineering-Plastics Corporation
Others
GLOBAL SYNTHETIC AND BIO THERMOSETS MARKET, BY TYPE- MARKET ANALYSIS, 2019 - 2032
Synthetic Thermosets
Bio-based Thermosets
GLOBAL SYNTHETIC AND BIO THERMOSETS MARKET, BY APPLICATION - MARKET ANALYSIS, 2019 - 2032
Coatings & Adhesives
Composites
Electrical & Electronics
Packaging
Insulation
Others
GLOBAL SYNTHETIC AND BIO THERMOSETS MARKET, BY END-USE- MARKET ANALYSIS, 2019 - 2032
Automotive
Electronics
Construction
Aerospace
Consumer Goods
Others
GLOBAL SYNTHETIC AND BIO THERMOSETS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Sweden
Russia
Poland
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Indonesia
Thailand
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
UAE
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Synthetic and Bio Thermosets Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Synthetic and Bio Thermosets Market Snippet by Type
2.1.2. Synthetic and Bio Thermosets Market Snippet by Application
2.1.3. Synthetic and Bio Thermosets Market Snippet by End-Use
2.1.4. Synthetic and Bio Thermosets Market Snippet by Country
2.1.5. Synthetic and Bio Thermosets Market Snippet by Region
2.2. Competitive Insights
3. Synthetic and Bio Thermosets Key Market Trends
3.1. Synthetic and Bio Thermosets Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Synthetic and Bio Thermosets Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Synthetic and Bio Thermosets Market Opportunities
3.4. Synthetic and Bio Thermosets Market Future Trends
4. Synthetic and Bio Thermosets Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Synthetic and Bio Thermosets Market: Impact of Escalating Geopolitical Tensions
5.1. Impact of COVID-19 Pandemic
5.2. Impact of Russia-Ukraine War
5.3. Impact of Middle East Conflicts
6. Synthetic and Bio Thermosets Market Landscape
6.1. Synthetic and Bio Thermosets Market Share Analysis, 2024
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Synthetic and Bio Thermosets Market - By Type
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2024 & 2032 (%)
7.1.2. Synthetic Thermosets
7.1.3. Bio-based Thermosets
8. Synthetic and Bio Thermosets Market - By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2024 & 2032 (%)
8.1.2. Coatings & Adhesives
8.1.3. Composites
8.1.4. Electrical & Electronics
8.1.5. Packaging
8.1.6. Insulation
8.1.7. Others
9. Synthetic and Bio Thermosets Market - By End-Use
9.1. Overview
9.1.1. Segment Share Analysis, By End-Use, 2024 & 2032 (%)
9.1.2. Automotive
9.1.3. Electronics
9.1.4. Construction
9.1.5. Aerospace
9.1.6. Consumer Goods
9.1.7. Others
10. Synthetic and Bio Thermosets Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2024 & 2032 (%)
10.2. North America
10.2.1. Overview
10.2.2. Synthetic and Bio Thermosets Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
10.2.4. North America Market Size and Forecast, By Type, 2019 - 2032 (US$ Million)
10.2.5. North America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
10.2.6. North America Market Size and Forecast, By End-Use, 2019 - 2032 (US$ Million)