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Electrical And Electronics Thermoset Compounds Market Test Report
Electrical & Electronics Thermoset Compounds Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2025-2030 test See less
Electrical & Electronics Thermoset Compounds Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2025-2030 test
Electrical & Electronics Thermoset Compounds Market Is Segmented by Application Type (Switchgears, Electrical Cabinets, Motor Brush Holders, and Other Applications), by Product Type (SMC and BMC), by Fiber Type (Glass Fiber and Carbon Fiber), by Resin Type (Polyester, Epoxy, and Other Resins), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
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Introduction
In the electrical & electronics industry, thermoset compounds are engineered to meet the stringent demands of modern electrical systems. These materials deliver a unique combination of high dielectric strength, low dielectric loss, thermal stability, flame retardancy, and dimensional integrity, making them ideal for insulating and structural applications. Their moldability further supports complex geometries, internal cable routing, and precise mounting features, which help reduce part counts and simplify assembly in electrical devices.
Applications span switchgears, electrical cabinets, insulators, connector shells, relay and contact housings, and protective enclosures for power electronics. SMC is typically used in larger panels and load-bearing enclosures where mechanical strength, surface finish, and arc-quenching capabilities are critical. On the other hand, BMC dominates smaller to mid-sized components such as connectors and housings, where tight tolerances, fine details, and high-volume precision molding are essential. Glass-fiber reinforcement remains the standard for most applications due to its cost-to-performance advantage, while carbon fiber is selectively applied in cases requiring superior stiffness and weight reduction.
Market growth is being fueled by global electrification, grid modernization, renewable energy integration, and the rapid expansion of EV charging infrastructure. At the same time, strict regulatory and safety standards such as IEC, UL, RoHS, and REACH are shaping product development—encouraging manufacturers to innovate with flame-retardant, low-emission, and environmentally compliant formulations. Together, these dynamics are solidifying thermoset compounds as a cornerstone material in the evolution of modern electrical and power systems.
Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
Application-Type Analysis |
Switchgears, Electrical Cabinets, Motor Brush Holders, and Other Applications |
Switchgear is expected to remain the biggest demand generator in the market. |
Product-Type Analysis |
SMC and BMC |
SMC is expected to remain dominant in the market during the forecast period. |
Fiber-Type Analysis |
Glass Fiber and Carbon Fiber |
Glass fiber commands a mammoth share of the market. |
Resin-Type Analysis |
Polyester, Epoxy, and Other Resins |
Polyester resin is estimated to have the leading share of the market. |
Region Analysis |
North America, Europe, Asia-Pacific, and The Rest of the World |
Asia-Pacific dominates the electrical & electronics thermoset compound market. |
By Application Type
“The expected largest application of electrical & electronics thermoset compounds market is switchgears”
By application type, the market is segmented into switchgears, electrical cabinets, motor brush holders, and other applications. Switchgears are leading due to their integration of important electrical insulation, arc-quench performance, and structural requirements that are only reliably met at scale using advanced thermoset compounds. Thermoset compounds offer high dielectric strength, flame resistance, and dimensional stability, and are used to manufacture complex, integrated housing and insulating barriers properties needed in compact, high-voltage switchgear applications in grid, industrial, and utility settings. The thermoset compounds find application in switchgear enclosures, contact blocks, transformer housing, circuit breakers, and fuse carriers in switchgears.
The second largest application, accounting for its widespread adoption, is electrical cabinets, where the need to have durable weatherproof enclosures is prevalent among utilities, data centers, and commercial installations. Applications of thermoset compounds are indoor/outdoor electrical cabinets, indoor junction boxes, outdoor junction boxes, as well as industrial light covers.
By Product Type
“SMC is expected to be the dominant product of the market, over the years.”
By product type, the market is segmented into SMC and BMC. The superiority of SMC lies in its ability to combine large part moldability, steady surface finish, and strong electrical and environmental performance characteristics, which have enabled it to be the material of choice in transformer housing, switchgear enclosures, and outdoor junction boxes. Its ability to be compression molded at high throughput, stable in dimension, flammable, and resistant to weather conditions over time allows OEMs and panel builders to achieve small-scale safety requirements and cost goals.
By Fiber Type
“Glass fiber is expected to hold a major market share of the market during the forecast period.”
By fiber type, the market is segmented into glass fiber and carbon fiber. Glass fiber is the leading fiber-type material in the market due to its ability to provide the most electrical insulation/mechanical strength/cost-efficiency balance that is needed on a scale. Good dielectric properties and low dielectric loss ensure that it is competitive in terms of material costs because it is widely available and has an established supply chain, but is used to insulate housing, busbar supports and transformer components. Glass fiber can also be blended consistently with SMC/BMC compounds and compression-molding operations, offering uniform part quality and regulatory conformity (UL/IEC) throughout high-volume manufactures.
By Resin Type
“Polyester resin is expected to lead the market.”
By resin type, the market is segmented into polyester, epoxy, and other resins. Polyester resins are dominant due to their balanced ability in terms of electrical performance, processing flexibility, and cost-effectiveness at scale. Polyester-based formulations bring about sufficient dielectric strength, low dielectric loss, and easy integration with usual flame-retardant systems, qualities vital in switchgear housings, transformer enclosures, busbar supports, and other high-volume insulating components. They are both compatible with SMC/BMC processing and can be molded quickly to produce parts of both large panel size and small quantities of parts with comparable surface quality and dimensional stability to comply with UL/IEC safety and flammability standards.
Regional Analysis
“Asia-Pacific will continue as the largest market for electrical & electronics thermoset compounds, during the forecast period.”
The dominance in Asia-Pacific is influenced by a high concentration of electrical equipment OEMs, large-scale switchgear and cabinet assemblers, and fast-growing power-distribution and renewable-energy systems. The demand in China, India, Japan, South Korea, and Southeast Asian manufacturing centers is of high volume, resulting in scale economies that require SMC to produce large enclosures and BMC to produce parts that are of high precision. This industrial concentration also helps to shorten the qualification time and supplier OEM integration to allow region-specific formulations of compounds.
The market is highly fragmented, with more than 50 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, and regional presence, etc. The following are the key players in the electrical & electronics thermoset compounds market. Some of the major players provide a complete range of services.
Here is the list of the Top Players (Based on Dominance)
Note: The above list does not necessarily include all the top players in the market.
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This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
The electrical & electronics thermoset compounds market is segmented into the following categories.
Electrical & Electronics Thermoset Compounds Market, by Application
Electrical & Electronics Thermoset Compounds Market, by Product
Electrical & Electronics Thermoset Compounds Market, by Fiber
Electrical & Electronics Thermoset Compounds Market, by Resin
Electrical & Electronics Thermoset Compounds Market, by Region
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“The electrical & electronics thermoset compounds market was valued at US$1.2 billion in 2024 and is likely to grow at a decent CAGR of 3.2% in the long run to reach US$1.5 billion in 2030.”
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