Zion Market Research has published a new report titled “High-Temperature Composite Resin Market by Resin Type (Epoxy, Thermoplastic, Phenolic, Polyimide, and Cyanate Ester), by Manufacturing Process (Lay-Up, Filament Winding, Injection Molding, Pultrusion, Compression Molding, and Others), and by End-Use (Transportation, Aerospace & Defense, Electrical & Electronics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global high-temperature composite resin market was valued at USD 688 million in 2017 and is expected to reach USD 1,298 million by 2024, at a CAGR of 9.5% between 2018 and 2024.
The resins that are used to produce composites and can withstand high temperatures are known as high-temperature composite resins. These composite resins are widely used in military and commercial aircraft engines and marine industry.
The global high-temperature composite resin market is likely to expand rapidly in the upcoming years, owing to the escalating demand for high-temperature composite resins in various end-use industries, such as transportation, electrical, and aerospace and defense across the globe. Additionally, the strict safety regulations governing vehicle transport is anticipated to further propel the expansion of the high-temperature composite resin market on a global scale in the future. Moreover, the rising demand for high-temperature composite resins for aircraft production is projected to drive the high-temperature composite resin market expansion over the estimated timeframe. However, high prices and difficult processing of high-temperature composite resins might limit the market growth for the high-temperature composite resin in the future. Nonetheless, several manufacturers are focusing on technological advancements related to high-temperature resin components, which, in turn, is projected to boost the high-temperature composite resin market in the years ahead.
The global high-temperature composite resin market is classified based on resin type, manufacturing process, and end-use. By resin type, the global high-temperature composite resin includes epoxy, thermoplastic, phenolic, polyimide, and cyanate ester. Polyimide is likely to dominate the market over the forecast timeframe, due to its extensive use in the military aircraft for its ability to withstand temperature up to 315°C and high dimensional stability at higher temperatures. By manufacturing process, the global high-temperature composite resin market includes lay-up, filament winding, injection molding, pultrusion compression molding, and others. Lay-up process is likely to lead the high-temperature composite resin market globally in the years ahead. By end-use, the global high-temperature composite resin market includes transportation, aerospace and defense, electrical and electronics, and others. The growing demand for thermal resistant and lightweight parts is likely to fuel the product popularity in the aerospace and defense sector in the future.
The regional analysis of the global high-temperature composite resin market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2017, North America held the largest share of the high-temperature composite resin market and is estimated to continue its dominance in the next few years as well. This regional growth can be attributed to the thriving transportation and aerospace and defense industries in the region and the presence of major manufacturers of aircraft, such as Boeing and Lockheed Martin, within the region.
Some key manufacturers of the global high-temperature composite resin market are Hexion Inc., E.I. Dupont De Nemours and Company, BASF SE, Huntsman International, Royal TenCate, Wacker Chemie AG, Hexcel Corporation, Arkema, Sumitomo Bakelite, DIC Corporation, Nexam Chemical Holding, Lonza Group, and UBE Industries, Ltd., among others.
This report segments the global high-temperature composite resin market into:
Global High-Temperature Composite Resin Market: By Resin Type
Global High-Temperature Composite Resin Market: By Manufacturing Process
Global High-Temperature Composite Resin Market: By End-Use
Global High-Temperature Composite Resin Market: By Region
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