The Global Thermoset Compounds for Vehicles Powertrain Market was valued at USD 1.82 Billion in 2023 and is projected to reach USD 2.48 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2024–2030). This robust growth is fueled by the global push for vehicle electrification, stringent emission regulations, and the increasing demand for lightweight, heat-resistant materials that enhance powertrain performance and durability.

As the automotive industry accelerates its shift towards electric and hybrid vehicles, thermoset compounds have become critical enablers for next-generation powertrain systems. These high-performance materials offer exceptional thermal stability, chemical resistance, and dimensional integrity under extreme conditions. In this blog, we profile the Top 10 Companies in the Thermoset Compounds for Vehicles Powertrain Industry—global material science leaders and specialized compounders who are shaping the future of automotive engineering.

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🔟 1. Sumitomo Bakelite Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Phenolic Molding Compounds, Epoxy Molding Compounds, BMC

Sumitomo Bakelite is a global leader in high-performance thermoset plastics, with a significant focus on automotive applications. Their materials are essential for manufacturing components like engine covers, sensor housings, and electronic control units (ECUs) within the powertrain, where heat resistance and electrical insulation are paramount.

Innovation & Market Focus:

• Development of low-density, high-strength compounds for weight reduction

• Specialized materials for Electric Vehicle (EV) battery modules and power electronics

• Global production network ensuring supply chain reliability for major OEMs

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9️⃣ 2. IDI Composites International

Headquarters: Noblesville, Indiana, USA
Key Offering: Bulk Molding Compounds (BMC), Sheet Molding Compounds (SMC)

IDI Composites International is a premier manufacturer of thermoset molding compounds, with deep expertise in serving the automotive sector. Their products are widely used for under-the-hood components, transmission parts, and EV thermal management systems due to their excellent mechanical properties and resistance to high temperatures and corrosive fluids.

Innovation & Market Focus:

• BMC formulations with high tracking resistance for electrical components

• Focus on Class A surface finishes for visible powertrain components

• Commitment to sustainable material solutions and recyclability initiatives

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8️⃣ 3. RTP Company

Headquarters: Winona, Minnesota, USA
Key Offering: Engineering Thermoplastics & Thermoset Compounds, Custom Formulations

RTP Company is a recognized leader in engineered thermoplastics and thermoset compounds, offering tailored solutions for demanding automotive applications. Their technical expertise allows them to develop compounds that meet specific requirements for heat deflection, flame retardancy, and chemical resistance in powertrain systems.

Innovation & Market Focus:

• Custom-compounded materials for specific OEM and Tier-1 supplier projects

• Advanced composites incorporating glass and carbon fibers for enhanced strength

• Global technical support and rapid prototyping capabilities

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7️⃣ 4. Polynt S.p.A.

Headquarters: Scanzorosciate, Italy
Key Offering: Unsaturated Polyester Resins, BMC, SMC

Polynt is a major European producer of thermoset intermediates and compounds. Their materials are critical for manufacturing lightweight structural components in both conventional and electric vehicle powertrains, contributing to improved fuel efficiency and reduced emissions.

Innovation & Market Focus:

• High-performance SMC for battery trays and enclosures in electric vehicles

• Low-profile additives for superior surface quality in molded parts

• Investment in bio-based and recycled content resins for sustainable mobility

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6️⃣ 5. Toray Advanced Composites

Headquarters: Morgan Hill, California, USA (Parent: Toray Industries, Japan)
Key Offering: Advanced Thermoset Prepregs, BMC, SMC

Toray Advanced Composites brings the technological might of Toray Industries to the automotive market, specializing in high-end composite materials. Their thermoset compounds are used in applications requiring the ultimate in performance, such as components for high-stress environments in performance vehicles and aerospace-inspired automotive solutions.

Innovation & Market Focus:

• Carbon fiber-reinforced thermosets for extreme lightweighting

• Materials qualified for safety-critical powertrain and structural applications

• Cross-industry technology transfer from aerospace to high-performance automotive

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5️⃣ 6. Hexion Inc.

Headquarters: Columbus, Ohio, USA
Key Offering: Epoxy Resins, Phenolic Resins, Formulated Compounds

Hexion is a global leader in thermoset resins, supplying the chemistry that forms the backbone of many molding compounds. Their specialty epoxy and phenolic systems are essential for manufacturing components that withstand the high temperatures and electrical loads found in modern powertrains, particularly in EVs.

Innovation & Market Focus:

• Encapsulation resins for electric motors and power electronics

• High-heat phenolic resins for engine and transmission components

• Collaborative development with compounders and molders to optimize material systems

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4️⃣ 7. Huayuan Group

Headquarters: Nantong, Jiangsu, China
Key Offering: BMC, SMC, Phenolic Molding Compounds

Huayuan Group is one of China’s leading manufacturers of thermoset molding compounds, playing a vital role in supplying the country’s vast and rapidly growing automotive industry. They provide cost-effective, high-volume material solutions for a wide range of powertrain applications.

Innovation & Market Focus:

• Strong focus on serving domestic Chinese EV manufacturers and global supply chains

• Rapid scaling of production capacity to meet escalating demand

• Development of materials compliant with international automotive standards

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3️⃣ 8. Plenco (Plastics Engineering Company)

Headquarters: Sheboygan, Wisconsin, USA
Key Offering: Phenolic Molding Compounds, Thermoset Polyesters, BMC

Plenco is a longstanding, trusted supplier of thermoset molding materials in North America. Their extensive product portfolio includes a range of phenolic and polyester compounds known for their reliability and consistency, making them a go-to choice for automotive component manufacturers.

Innovation & Market Focus:

• Specialized compounds for ignition systems, solenoid valves, and sensors

• Focus on manufacturing consistency and lot-to-lot uniformity

• Technical expertise in compression, transfer, and injection molding processes

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2️⃣ 9. Kyocera Chemical Corporation

Headquarters: Yamaguchi, Japan (Part of Kyocera Group)
Key Offering: Fine Ceramics, Advanced Plastic Compounds, DAP

Kyocera leverages its expertise in fine ceramics to develop high-performance plastic compounds, including Diallyl Phthalate (DAP) thermosets. These materials offer exceptional electrical properties, moisture resistance, and dimensional stability, making them ideal for complex electrical connectors and sensors within the powertrain.

Innovation & Market Focus:

• Leadership in DAP compounds for high-reliability electrical applications

• Integration of ceramic-based material science into polymer compounds

• Focus on miniaturization and high-density packaging for EV power systems

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1️⃣ 10. Hitachi Chemical Company (Part of Showa Denko Materials)

Headquarters: Tokyo, Japan
Key Offering: Epoxy Molding Compounds, Adhesive Films, Advanced Composites

Hitachi Chemical, now integrated into Showa Denko Materials, is a powerhouse in electronic materials and advanced composites. Their epoxy molding compounds are critical for semiconductor encapsulation in inverters, converters, and motor controllers, which are the electronic hearts of modern electric vehicle powertrains.

Innovation & Market Focus:

• World-leading materials for power module packaging and protection

• Development of high thermal conductivity compounds for efficient heat dissipation

• Strong R&D pipeline focused on next-generation wide-bandgap semiconductors (SiC, GaN)

Download FREE Sample Report: Thermoset Compounds for Vehicles Powertrain Market – View in Detailed Research Report

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🔧 Outlook: The Future of Powertrain Materials Is Smart, Light, and Electric

The thermoset compounds market for vehicle powertrains is undergoing a fundamental transformation driven by electrification. While traditional internal combustion engines will continue to require high-temperature materials, the explosive growth in electric vehicles is creating new, demanding applications that prioritize electrical insulation, thermal management, and lightweighting.

📈 Key Trends Shaping the Market:

• Electrification Drive: Surging demand for materials used in battery housings, electric motor components, and power electronics.

• Thermal Management: Development of compounds with higher thermal conductivity to manage heat in high-power EV systems.

• Lightweighting Imperative: Continued innovation in fiber-reinforced compounds to reduce vehicle weight and extend EV range.

• Supply Chain Localization: Increased production of advanced materials within key automotive manufacturing regions like North America and Europe to ensure resilience.

The companies profiled above are not just supplying materials; they are providing the essential building blocks for the next generation of cleaner, more efficient, and high-performance vehicles. Their innovations in material science are directly enabling the automotive industry’s ambitious goals for sustainability and technological advancement.

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