High-temperature Composite Resin Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4099
High-Temperature Composite Resin Market size is anticipated to mount at a substantial rate within the forecast timeframe. The significant growth of high-temperature composite resin is owing to the positive product demand from the automotive, defense and aerospace, electrical & electronics, building & construction, healthcare and oil & gas industries. The light weightiness and high thermal resistant property is the major reason for surging the product demand. High-temperature composite resins generally find applications in areas requiring resistance high-temperature such as ducting, ceilings and bulkheads. These high-temperature resin matrix possesses a high demand from the aerospace industry for manufacturing missile casings. Owing to its exceedingly high glass conversion temperatures, the product is used in filament bending applications that are appropriate for elevated strength carbon fiber-reinforced composite structures. The high-temperature composite resins are basically common resins that are designed to combat extremely heated environments. Moreover, stringent regulations imposed globally to control emissions from various aircrafts and automobiles is projected to augment the high-temperature composite resins market size in the coming years.
The growing advancements in the aerospace industry is fueling the demand for various composite resins to reduce the overall aircraft weight yet strengthening its body. For instance, in 2016, Boeing announced a supply agreement for composite resins with a joint venture company formed by Solvay and Mubadala Development Company. Therefore, the increasing development trends in the aerospace industry is expected to swell the high-temperature composite resins market size in the projected timespan.
However, the major factor obstructing the growth for the high-temperature resin market is the heavy expenses associated with these high performance resins. In addition, these resins faces recycling limitations, which further confines the high-temperature resin market growth in the near future. The product when manufactured has to get permitted by the government organization operating under the Toxic Substances Control Act.
Based on its resin type, high-temperature composite resin market size is categorized into epoxy, bismaleimides, phenolic, thermoplastic, benzoxazine, polyimide, cyanate ester and few others. Bismaleimide resin is likely to maintain a dominant position in the high-temperature resin market size during the forecasted period. It finds extensive application in military aircraft engines, hot-air ducts, tooling prepreg, nacelles of business jet engines and airframe applications. However, polyimide resin is expected to be the fastest growing resin type in the anticipated timespan.
Based on its manufacturing process, the high-temperature composite resin market is classified into filament winding, lay-up, injection molding, compression molding, pultrusion etc. Lay-up is anticipated to become the most popularly used manufacturing process in the product market, due to its lower cost and large-scale usage in marine, defense and aerospace sectors. Moreover, prepreg layup imparts several benefits such as constant material properties, flexibility in fiber alignment, high fiber volume, easy to function on complicated forms and low-void content. Compression molding procedure is projected to become the second major manufacturing process in the market due to its escalating usage in automotive industry.
According to the end-use industries, high-temperature composite resin market size is divided into automotive, defense and aerospace, electrical & electronics, healthcare, building & construction etc. Defense and aerospace industry is assessed to become the rapidly growing end-use industry in the high-temperature composite resin market by 2025, due to the budding product demand for the manufacturing of exterior structures of aircrafts, engine components, interiors, missiles & satellites etc.
North America is estimated to prolong its dominance in high-temperature composite resin market share during the expected time period. The regional dominancy was accredited to the budding defense and aerospace industry owing to the swelling production of airplanes to cater the growing consumption. Based on the Aerospace Industries Association (AIA) data, the US defense and aerospace sector exports surged by 26% over 5 years to attain over USD 140 billion in 2017.
High-temperature composite resin market share is influenced by the major companies holding prominent market share. Some of the key companies present in the market are E.I. Dupont De Nemours and Company, BASF, Nexam Chemical, UBE Industries, DOW Corning Corporation, Huntsman International, Hexion Inc., Mitsui Chemicals Inc., DIC Corporation, Arkema, Henkel AG, Tencate N.V., Solvay S.A, Wacker Chemie etc.
High-temperature Composite Resin Market, By Resin Type, 2014-2025
- Cyanate Ester
High-temperature Composite Resin Market, By Manufacturing Process, 2014-2025
- Filament Winding
- Injection Molding
- Compression Molding
High-temperature Composite Resin Market, By End-use Industries, 2014-2025
- Aerospace & Defense
- Electrical & Electronics
- Building & Construction
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- 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.
- Wacker Chemie AG
- Royal Tencate N.V.
- Solvay S.A
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