High Temperature Composite Resin Market was valued US$ 752.80 Mn in 2017 and is expected to reach US$ 1553.67 Mn by 2026, at a CAGR of 9.48 % during a forecast period.
Global High Temperature Composite Resin Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding High Temperature Composite Resin market dynamics, structure by identifying and analyzing the market segments by End User, Resin Types, Manufacturing Process, and Region and, project the global market size. Further, report also focus on competitive analysis of key players by Resin Types, price, financial position, Resin Types portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to particular market segment.
High temperature resins are refer as thermosetting polymer materials, used in sealants, adhesives, and composite resins for applications that involve exposure to high temperatures. High temperature resins are extensively used across numerous industries, such as aerospace, electrical and electronics, etc. In the aerospace industry, they are generally used for rocket motor castings, missiles, and spacecraft as well as in gaskets, adhesives, and sealants. This can be attributed to their several properties, such as high adhesion, impact resistance, radiation resistance, chemical resistance, flexibility, etc. High temperature resins can work in risky temperature environments ranging between 232°C and 427°C.
The major driving factors of the market are excellent thermal performance of high temperature composite resins, and increase in demand for high temperature thermoplastic resin. High cost of high temperature composite resins and handling and processing issues are the major restraining factor which hinder the growth of the market. Manufacturers are focusing on the growth of advanced high performance resin components, user-friendly materials, recyclable material forms, and processing operations that allow the displacement of conventional epoxy.
Based on resin type, Bismaleimide resin is expected to remain the most dominant high-temperature resin type in terms of volume over the forecasted period. It is mostly used in military aircraft engines as well as airframe applications, nacelles of business jet engines, tooling prepreg, and hot-air ducts. Nevertheless, polyimide resin is also likely to remain the largest resin type in terms of value during the forecast period.
Based on manufacturing process, layup is likely to remain the most dominant process for manufacturing composite parts made using high-temperature resins. It is the most preferred process for manufacturing of critical parts in the aerospace & defense industry, where high-temperature resin systems are used. Prepreg layup offers numerous advantages, such as consistent material properties, high fiber volume, flexibility in fiber orientation, low-void content, and easy to operate on complicated shapes.
In terms of End User industry, Aerospace & defense is accounts the largest share of the end-use industry segment of the high temperature composite resin market in 2017. The high demand for lightweight and thermal resistant parts has given an edge to high temperature composite resins due to its better properties and reduced curing time. The improved use of high temperature composite components in interiors, missiles, engine parts, and outer structures of aircraft and satellites is driving the growth of the high temperature composite resin market.
North America is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the high temperature composite resin market. APAC is foreseen to expand at a significant CAGR over the forecast period. This can be endorsed to increasing urbanization, which has led to the growth of industries, such as aerospace, construction, rail, that have high demand for high temperature resins. ASEAN countries are also expected to comprise a lucrative region for the global high temperature resin market. The Middle East and Africa region is likely to expand at a moderate CAGR over the forecast period. Europe is anticipated to hold a major share in the global high temperature resin market and is anticipated to exhibit stable growth over the forecast period.
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The Scope of Global High Temperature Composite Resin Market:
Global High Temperature Composite Resin Market, by Resin Type:
- Cyanate Ester
Global High Temperature Composite Resin Market, by Manufacturing Process:
- Filament Winding
- Injection Molding
- Compression Molding
- Other Processes
o Resin Film Infusion
o Tube Rolling
o Centrifugal Casting
Global High Temperature Composite Resin Market, by End User:
- Aerospace & Defense
- Electrical & Electronics
o Oil & Gas
o Building & Construction
Global High Temperature Composite Resin Market, by Region:
- North America
- Middle East & Africa
- Asia Pacific
- South America
Key Players Operating In Global High Temperature Composite Resin Market:
- E.I. Dupont De Nemours and Company
- Nexam Chemical Holding AB
- BASF SE
- UBE Industries, Ltd.
- DOW Corning Corporation
- Hexion Inc.
- Huntsman International LLC
- Mitsui Chemicals Inc.
- Arkema S.A. DIC Corporation
- Henkel AG & Co.
- KGaA Wacker Chemie AG
- Royal Tencate N.V.
- Solvay S.A
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