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About this market
Increasing adoption of casting resins in medical device production to drive growth in the market. Owing to their excellent mechanical properties and ease of design, casting resins such as epoxy resins, and polyurethanes are preferred for the manufacture of medical device displays, trailing aids, a prototype analysts have predicted that the casting resin market will register a CAGR of more than 6% by 2023.
Market Overview
Growing adoption of casting resins in industrial sector
Casting resins such as polyurethane and epoxy designs find extensive applications in rapid prototyping and 3D printing and thermoforming in several end-user industries such as food, medical, and general retail.
Increase in prices of raw materials
With the several key producers in the US, Western European companies, and India dependent on raw material imports from China, the steady increase in the prices of raw materials is expected to hamper the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the casting resin market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Covestro and Hexion the competitive environment is quite intense. Factors such as the increasing adoption of casting resins in medical device production and the growing adoption of casting resins in industrial sector, will provide considerable growth opportunities to casting resin manufactures. Covestro, Hexion, Huntsman International, Polytek Development, and Resoltech are some of the major companies covered in this report.
Increasing adoption of casting resins in medical device production to drive growth in the market. Owing to their excellent mechanical properties and ease of design, casting resins such as epoxy resins, and polyurethanes are preferred for the manufacture of medical device displays, trailing aids, a prototype analysts have predicted that the casting resin market will register a CAGR of more than 6% by 2023.
Market Overview
Growing adoption of casting resins in industrial sector
Casting resins such as polyurethane and epoxy designs find extensive applications in rapid prototyping and 3D printing and thermoforming in several end-user industries such as food, medical, and general retail.
Increase in prices of raw materials
With the several key producers in the US, Western European companies, and India dependent on raw material imports from China, the steady increase in the prices of raw materials is expected to hamper the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the casting resin market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Covestro and Hexion the competitive environment is quite intense. Factors such as the increasing adoption of casting resins in medical device production and the growing adoption of casting resins in industrial sector, will provide considerable growth opportunities to casting resin manufactures. Covestro, Hexion, Huntsman International, Polytek Development, and Resoltech are some of the major companies covered in this report.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
