Pune, India, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global high-temperature resins for composite materials market, which was worth USD 864 million in 2021, is likely to progress at a CAGR of 4.2% through the analysis timeframe and eventually amass USD 1,152 million by the end of 2028.
In addition, the document renders a detailed description of the various segments in the business sphere such as manufacturing procedure, resin type, application spectrum, and regional terrain. Consumption value, volume, and scope for expansion with respect to each bifurcation are provided to deliver a clear outlook on the evolving market dynamics during the research timeframe.
The report illustrates competitive fierceness within the industry by highlighting the product portfolio, financial standing, and strategic advances in the form of mergers, acquisitions, and partnership deals of influential companies for the benefit of industry novices and veterans.
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Increasing product demand across several end-use verticals such as transportation, aerospace & defense, etc. is a prominent factor amplifying the revenue margins of the market during the assessment period.
For the uninitiated, high-temperature resins refer to resins that produce composite materials that perform at a temperature of 135°C or above. These resins find extensive application in areas that require high thermal stability and effective hot-wet performance.
Furthermore, strict safety regulations with respect to vehicle transport as well as heavy utilization of the product in the manufacturing of aircraft are likely to expand the profitability graph of worldwide high-temperature resins for composite materials industry in the ensuing years.
However, the complex and expensive nature of high temperature resins is expected to limit the growth trajectory of the market in the coming years.
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Segmental outlook: -
Speaking of resin type, the epoxy resin vertical retained a substantial share in the market in 2021 and is slated to record modest growth during the forecast period.
Considering manufacturing procedure, the prepreg layup segment retained its spot as a significant contributor to overall market valuation in 2021 and is poised to hold a decent revenue share during the evaluation timeline.
Based on application type, the aerospace and defense segment held a considerable market share in 2021 and is expected to witness subtle growth during the projected timeframe, owing to growing popularity of lightweight and thermally resistant components in aircraft.
Regional rundown: -
North America high-temperature resins for composite materials marketplace accounted for a notable revenue share in 2021 and is estimated to retain its dominance in the ensuing years, attributable to thriving aerospace & defense and transportation sectors, along with the presence of major aircraft manufacturers in the region.
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Competitive hierarchy: -
Toray Industries Inc., Evonik Industries AG, Lonza Group AG, Hexcel Corporation, Solvay S.A., Huntsman Corporation, and Hexion Inc. are the prominent players influencing market trends.
Global High-Temperature Resins for Composite Materials Market, By Resin Type (Value, USD Million, 2018-2028)
- bismaleimides (BMI) resin
- cyanate ester resin
- epoxy resin
- polyether ether ketone (PEEK)
- phenolic resin
- others
Global High-Temperature Resins for Composite Materials Market, By Manufacturing Procedure (Value, USD Million, 2018-2028)
- filament winding
- prepreg layup
- resin transfer moulding (RTM)
- others
Global High-Temperature Resins for Composite Materials Market, By Application (Value, USD Million, 2018-2028)
- aerospace and defense
- electricals and electronics
- pipes and tanks
- transportation
- others
Global High-Temperature Resins for Composite Materials Market, By Region (Value, USD Million, 2018-2028)
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
Global High-Temperature Resins for Composite Materials Market, Company Profiles (Value, USD Million, 2018-2028)
- Evonik Industries AG
- Hexcel Corporation
- Hexion Inc.
- Huntsman Corporation
- Lonza Group AG
- Solvay S.A. (Cytec Industries Incorporated)
- Toray Industries, Inc
TABLE OF CONTENTS
FIGURES AND TABLES
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY RESIN TYPE
- Bismaleimides (BMI) resin
- Cyanate ester resin
- Epoxy resin
- Polyether ether ketone (PEEK)
- Phenolic resin
- Others
PART 6. MARKET BREAKDOWN BY APPLICATION
- Aerospace and defense
- Electricals and electronics
- Pipes and tanks
- Transportation
- Others
PART 7. MARKET BREAKDOWN BY MANUFACTURING PROCEDURE
- Filament winding
- Prepreg layup
- Resin transfer moulding (RTM)
- Others
PART 8. MARKET BREAKDOWN BY REGION
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
Related Report:
Global High-Temperature Composite Materials Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028
According to our latest study, due to COVID-19 pandemic, the global High-Temperature Composite Materials market size is estimated to be worth US$ 4140.9 million in 2021 and is forecast to a readjusted size of USD 6438.2 million by 2028 with a CAGR of 6.5% during review period. Aerospace & Defense accounting for % of the High-Temperature Composite Materials global market in 2021, is projected to value USD million by 2028, growing at a % CAGR in next six years. While Polymer Base Material Composite segment is altered to a % CAGR between 2022 and 2028. The High-Temperature Composite Materials market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
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