Global High-Temperature Composite Resin Market 2022-2028

Global High-Temperature Composite Resin Market 2022-2028

The global high-temperature composite resin market is estimated to grow at a CAGR of around 9% during the forecast period. In polymer chemistry and materials science, the resin is a solid or highly viscous substance of plant or synthetic origin that is typically convertible into polymers. Resins are usually mixtures of organic compounds. High-temperature resins are those resins which perform normally at temperatures higher than 150?C. It is thermally stable; it can sustain itself in the 600-1000° C. The high-temperature can be stored and processed at ambient temperature and has high chemical and corrosive resistance.Also, it is environmentally friendly and recyclable.

The use of high-temperature composite resin in aerospace & defense, electrical & electronics, and transportation industry is contributing to the growth of the global high-temperature composite resin market. High-temperature composite resin is used in the automobile and construction industries too. Thermoset high-temperature composite resin BMI and Cyanate ester resins are used mostly in the aerospace & defense industry for its heat resistant property, also it is insoluble and non-melting. BMI resin can be used where operations performed at a temperature of more than 450°C, it is extensively used in missile and engine components, such as nozzle flaps, body flaps for the Space Shuttle, nacelles, and others.

Cyanate ester resins can be used where the temperature may exceed 600°C, it has a less moisture sensitivity and it is used in the optomechanical and spacecraft applications. Thermoplastic high-temperature composite resin epoxy is used extensively in electrical & electronics and construction industries for its damage tolerance property, also for its strong adhesive quality epoxy resin is also used for painting and coating. Moreover phenolic is used largely in many industries for its heat resistant property.

Plaster, alabaster, concrete, latex, and metal are some of the alternatives that are used at a substitute of the high-temperature composite resin. These alternatives, and high manufacturing cost consist of several steps are restraining the growth of the global high-temperature composite resin market. Although the new 3D printing technology is now using high-temperature composite resin to produce complex products and prototypes, this factor is contributing to the future growth of the global high-temperature composite resin industry.

Segmentation

The global high-temperature composite resin market is segmented based on the type, manufacturing process, end-user. Based on the type, the market is segmented into epoxy, phenolic, polyimide, bismaleimides (BMI), and others. Based on the manufacturing process, the market is segmented into a layup, injection molding, pultrusion molding, and filament winding. Based on the end-user, the market is segmented into aerospace & defense, transportation, electrical & electronics, and others.

Bismaleimides (BMI) held a significant share in the type segment

Bismaleimides (BMI) is one of the most commonly used high-temperature composite resin. The key properties of the BMI include low in cost, high production rates, low density, fire-resistant, and electrical insulation insoluble and non-melting, it can be stored ambient temperature and has a high chemical, corrosive resistance, environmentally friendly, and recyclable. BMI is mainly used in the aerospace & defense industry. It can be used where the operating temperature is 450°C. In the aerospace & defense industry, BMI is used mainly to manufacture missile and engine components, such as nozzle flaps, body flaps for the Space Shuttle, nacelles, and others. Such significant application in aerospace & defense is driving the high-temperature composite resin market growth.

Regional Outlook

Geographically, the global high-temperature composite resin market is segmented based on the region including North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The market in North America is anticipated to have a major share among all the regions followed by Asia-Pacific. Rising demand from various end-use industries, such as aerospace, defense, and others are propelling the growth of the market in the region. Asia-Pacific region holds the second largest market share in the global high-temperature composite resin market. Increasing the mechanical and automobile industry in India, China, and Japan is driving the Asia-Pacific high-temperature composite resin market.

Competitive Landscape

The major players that are providing high-temperature composite resin include Huntsman International LLC, Sumitomo Bakelite Co., Ltd., EI du Pont de Nemours & Co., Royal Tencate N.V., Arkema S.A., Lonza AG, Hexcel Corp., Hexion Specialty Chemicals, Inc., Nexam Chemical Holding AB, DIC Corp., and UBE Industries, Ltd., and others. The range of products produced by these companies include GY 250, Quatrex 1010, Tactix 123, GZ 280 X 80, Toray RS-17B, EPON, and others. These players adopt various strategies to expand their business across the globe. For instance, in March 2018, Hexcel entered into a partnership with Arkema to develop thermoplastic high-temperature composite resin, it can be used in the aerospace industry. The company focused on developing thermoplastic carbon fiber-reinforced tapes to serve the aerospace & defense industry.

The Report Covers:

Market value data analysis of 2021 and forecast to 2028.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global high-temperature composite resin market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.