Casting Resin Market Size, Competitive Landscape and Market Forecast - 2029

Global Casting Resin Market is segmented By Type of Substance (Polyester Casting Resins, Polyurethanes Casting Resins, Epoxy Casting Resins, Acrylic Casting Resins), By End User (Toys, Infrastructure, Transportation, Ornaments), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Casting Resins Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).

Resin casting produces an object in a mold by adding liquid synthetic resin, which then hardens. It is used for small-scale production in industries, dentistry, production of toys, jewelry. These casting resins can be mixed with natural minerals (fillers) for creating various shaped objects. Usually, a monomer is used as a synthetic resin for making a plastic thermosetting polymer. During the setting, the process monomer polymerizes into the polymer and then hardens into a solid. Adding these filters to the resin reduces the cost and polymer shrinkage.

Market Dynamics

The main driving factor for this Casting resins market is the increase in the construction of buildings. These resins are used in building design, façade panels, tiles, working surfaces. As the population increases, the buildings count increases. In this manner, the rise in buildings' construction would be a driving factor for the Casting resins Market.

The other driving factor for this market is the electronic industry growth. These resins are used for encapsulation in the electronics industry. These resins are used for circuits with fragile components. This increases the adoption rate in this industry. The injection molding process is a substitute for this casting. This casting resin is a labor-intensive process and can only produce hundreds of products. But this injection molding process can provide products in thousands. This injection molding process is an alternative for casting resin. So, the Injection molding process is a restraint for Global Casting Resins Market as this is a substitute for casting resins.

Segmentation Analysis

By Type of Substance, Global Casting Resins Market Can Be divided into polyesters casting resins, polyurethanes casting resins, epoxy casting resins, acrylic casting resins. Polyester is the most common casting resin. When an ester is used, then the catalyst for this casting is MEK peroxide. This accelerates polymerization. Curing time can be controlled by varying the number of catalysts. High-quality polyester casting resin is used for sculpture casting, object embedding, jewelry making, and set design. It is suitable for reproducing fine surface detail when casting sculptures because of its low viscosity. This casting resin is ideal for embedding and for any casting where ultra-clear or colored translucent is required.

By End Users, the Global casting Resins Market can be divided into toys, Infrastructure, transportation, ornaments. Resin casting is used to produce designer toys, garage kits, ball-jointed dolls, trains, ships, aircraft. Creating a toy starts with the traditional sculpting process, where a clay sculpture is prepared first. After making a mold, a synthetic resin is mixed with a curing agent and poured into the mold cavity. The synthetic resins polymerize and then harden to form the castings or copies of the mold's shape.

Geographical Analysis

By Geography, the Global Casting Resins market can be divided into North America, Asia Pacific, Europe, Middle East, and Africa, South America. These Casting resins are mainly used in the production of toys. North America would get the highest share at the end of the forecast period. The Asia Pacific would have the second-highest share at the end of the forecast period.

These casting resins are used for toys, buildings, ornaments. North America is the leading producer of toys. Many toy manufacturing companies are present in North America. Fisher-Price, NERF, Mattel, Hot Wheels are the leading manufacturers in North America. Net sales of Mattel in 2018 were nearly $4.51 billion. In 2018 was $107 million, and this was $358 million more than the previous year.

The Asia Pacific would have the second-highest share at the end of the forecast period. Bandai Namco Holdings, Mobile Suit Gundam are leading toy manufacturers in the Asia Pacific.  In the year 2018, net sales of Bandai Namco Holdings were 678,312 million yen. In 2017 net sales were 620,061 million yen.

Competitive Analysis

Many Key Companies adopt strategies such as mergers, acquisitions, partnerships, and expanding their companies by opening new branches to gain dominance over other countries. New Product Launches are also one way to increase the lead.

Polytek® Development Corp. Announces Acquisition of Pro Marine Supplies.

Polytek® Development Corp. Expands Epoxy Production at Midwest Location.

Hexion Introduces Two-Component Epoxy Solution for Aerospace Composites Production.

Major companies which produce these resins are Hexion Inc, Polycast Industries Inc, Alchemie, HA – International Inc, Covestro, Resoltech, Huntsman international, Polytech Development Corporation, Asahi Yukizai, RFCOTEC.

Key Takeaways:

• The key driver for this market is the increase in the construction of buildings. These resins are used in building design, façade panels, tiles, working surfaces.
• The key segment would be the End-user segment. Toys manufacturing companies would play a significant role in this segment.
• North America would end with the highest share at the end of the forecast period. Many toy manufacturing companies are present in North America.
• Many companies form acquisitions to improve their share in the market.

Why Purchase the Report?

• Visualize the Global Casting Resins Market's composition across each indication regarding the type of substance, End Users, highlighting the critical commercial assets and players.
• Identify commercial opportunities Global Casting Resins Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Global Casting Resins Market - level 4/5 segmentation.
• A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the essential products of all major market players

Target Audience:

• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers

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