DALLAS, Oct. 09, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the cyanate ester resin market looks promising with opportunities in the aerospace & defense, electrical and electronics, automotive, and marine industries. The global cyanate ester resin market is expected to grow with a CAGR of 5.2% from 2018 to 2023. The major growth drivers for this market are increasing demands for cyanate ester in high performance PCB and growth in the aerospace & defense industry.
Browse 118 Data Tables and 139 Figures spread through 210 Pages and in-depth TOC on “Global cyanate ester resin market at https://www.lucintel.com/cyanate-ester-resin-market.aspx
In this market, cyanate ester resin is used in printed circuit boards, radomes, aerospace engines & structural parts, and adhesive applications. Lucintel forecasts that printed circuit boards will remain the largest application due to increasing demand for high performance PCBs in communication, defense, aerospace, and marine industries. Lucintel predicts that the cyanate ester resin for aerospace engines & structural parts application is expected to witness the highest growth over the forecast period supported by growth in the aerospace & defense and space industry.
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North America is expected to remain the largest region due to increasing demand for cyanate ester based composites in the various end use industries, such as aerospace & defense, electrical & electronics, and marine. Lucintel predicts that Asia Pacific is expected to witness the highest growth over the forecast period due to increasing production of high performance PCB.
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Emerging trends, which have a direct impact on the dynamics of the industry, include development of ultra-high temperature resistant (Tg 400ºC) cyanate ester resin with excellent mechanical properties and increasing demand for cyanate ester resin in optical devices & high performance powder coating. Huntsman, Lonza, MGC, Tencate, Quingdao Fundchem, and Renegade are among the major suppliers of cyanate ester resin.
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