DALLAS, July 23, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global high temperature composite resin market looks promising with opportunities in aerospace & defense, pipe & tank and electrical & electronics industries. The global high temperature composite resin market is expected to reach an estimated $1.1 billion by 2024 with a CAGR of 4.9% from 2019 to 2024. The major drivers for this market are increasing demand for high temperature resistance composites and standardization of materials to withstand certain temperature performance.
Browse 97 market data tables and 134 figures spread through 211 pages and in-depth TOC on “Global High Temperature Composite Resin Market" at https://www.lucintel.com/high-temperature-composite-resin-market.aspx
In this market, different types of high temperature composite resin such as epoxy, vinyl ester, phenolic, BMI, cyanate ester, PEEK, others are used as resin type. On the basis of comprehensive research, Lucintel forecasts that epoxy resin will remain the largest segment by value and volume due to its wide application area in aerospace & defense and pipe and tank.
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North America will remain the largest region due to the strong demand form pipe and tank and aerospace/defense industries. Europe is expected to witness the highest growth during the forecast period due to the increasing production rate of advanced aircraft models with higher composite content and expected demand for high heat resistance materials.
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Emerging trends, which have a direct impact on the dynamics of the high temperature composite resin industry, include development of resin system with low volatile organic compound (VOC) and increasing focus on thermoplastic resins. Hexion, Huntsman, Victrex, Solvay, and Olin and others are among the major high temperature composite resin manufacturers.
Lucintel, has analyzed and forecasted for the global high temperature composite resin market by end use industry, resin, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global High Temperature Composite Resin Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.
Media contact:
Brandon Fitzgerald
Lucintel
Tel. 972.636.5056
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