New York, NY, Jan. 21, 2019 (GLOBE NEWSWIRE) -- 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.
Browse through 105 Tables & 45 Figures spread over 110 Pages and in-depth TOC on “Global High-Temperature Composite Resin Market: By Type, Size, Share, Industry Applications, Analysis and Forecast 2017—2024”.
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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.
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By region, 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. The growing demand for high-temperature composite resin by the transportation and aerospace industries is projected to drive the region’s high-temperature composite resin market growth in the future. At the country level, the U.S. was the largest contributor to this regional share in 2017. This can be attributed to the presence of major manufacturers of aircraft, such as Boeing and Lockheed Martin, in the U.S. Furthermore, the wide use of high-temperature composite resin in the production of aircraft components is likely to further boost this regional market’s growth in the future.
The Asia Pacific high-temperature composite resin market is expected to grow rapidly in the upcoming years, owing to the region’s flourishing transportation industry, rapid industrialization, and the thriving construction industry in developing countries, such as India and China.
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The European high-temperature composite resin market is anticipated to show a steady rate of growth in the near future. This can be attributed to the region’s developed aerospace and defense industry and the increasing demand for aircraft for defense activities. UK and Germany are key contributors to the European high-temperature composite resin market.
In Latin America, rising urbanization is expected to drive the high-temperature composite resin market in the upcoming years. Additionally, the growing application of high-temperature composite resins in the transportation sector to produce various components is estimated to further expand the region’s high-temperature composite resin market over the estimated timeframe.
Browse the full “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” Report at https://www.zionmarketresearch.com/report/high-temperature-composite-resin-market
The Middle Eastern and African market is anticipated to grow slowly over the forecast time period due to the rising industrialization and the increasing demand for high-temperature composite resins by several end-use industries.
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.
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This report segments the global high-temperature composite resin market into:
Global High-Temperature Composite Resin Market: By Resin Type
- Epoxy
- Thermoplastic
- Phenolic
- Polyimide
- Cyanate Ester
Global High-Temperature Composite Resin Market: By Manufacturing Process
- Lay-Up
- Filament Winding
- Injection Molding
- Pultrusion
- Compression Molding
- Others
Global High-Temperature Composite Resin Market: By End-Use
- Transportation
- Aerospace and Defense
- Electrical and Electronics
- Others
Global High-Temperature Composite Resin Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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