High-temperature composite resin companies specialize in developing advanced materials that withstand extreme heat, making them ideal for aerospace, automotive, and industrial applications. These innovative resins offer lightweight, durable solutions, enhancing performance in demanding environments. Leading firms in this sector continually push the boundaries of material science to create robust, heat-resistant composites.
The high-temperature composite resin market is a fiercely competitive space, fueled by the relentless pursuit of high-performance materials for demanding applications. it's no surprise that leading players are pulling out all the stops to secure their share of the pie. Let's delve into the current landscape, analyzing strategies, market share drivers, recent developments, and industry news.
Strategies Shaping the Market:
Factors Driving Market Share:
Key Players
Recent Developments :
September 2023: Mitsubishi Chemical showcases its DURANEX ECO resins at the JEC World composites exhibition, further solidifying its commitment to sustainable solutions.
October 2023: The Chinese government announces new regulations promoting the use of composites in the automotive industry, potentially boosting demand for high-temperature resins in the region.
November 2023: A consortium of European research institutions receives funding to develop bio-based cyanate ester resins, marking a significant step towards sustainable alternatives.
December 2023: Honeywell Aerospace expands its production capacity for high-temperature composite prepregs, anticipating increased demand from the commercial aircraft market.
High-temperature composite resin market size was valued at USD 1.2 Billion in 2021 and is projected to reach USD 2.1 Billion by 2030, growing at a CAGR of 10.4% from 2021 to 2030.
High-temperature composite resins are used in applications that require resistance to high temperatures such as bulkheads, ducting, and ceilings. The growth of the global high-temperature composite resin market is driven by the increasing demand in major end-use industries such as aerospace and defense, automotive and transportation, and electrical and electronics. Some of the commonly used high-temperature composite resins are bismaleimides, polyimides, cyanate esters, bezoxazines, phenolic, and epoxy. Bismaleimide resins are the most widely used high-temperature composite resins in various applications including military and commercial aircraft and helicopters due to their high-temperature resistance properties.
The demand for high-temperature composite resins is driven by the growing aerospace and defense industry globally. These resins find application in various parts of aircraft such as engines, ducts, stators, and heat shields. The expanding aviation industry with the rising demand for commercial aircraft, especially in developing nations, on account of increasing air traffic and low fuel prices is likely to drive the growth of the high-temperature composite resin market.
The consumption of high-temperature composite resins is increasing in various space applications such as rocket booster cases, fairings and payload doors for launch vehicles, and buss and solar arrays for military and commercial satellites. The growing aerospace and defense industry with increasing investments in defense equipment by governments in nations such as the US, Germany, China, and India to bolster military power is likely to fuel the demand for high-temperature composite resins.
High-temperature composite resins are being increasingly used in the automotive industry to meet the increasing demand for lightweight and fuel-efficient vehicles.
Global High-Temperature Composite Resin Market Share, by End-Use Industry, 2017 (%)
Key Players
Some of the key players in the global high-temperature composite resin market are Huntsman International LLC (US), Hexcel Corporation (US), Sumitomo Bakelite Co., Ltd (Japan), Koninklijke Ten Cate BV (Netherlands), Hexlon (US), DIC Corporation (Japan), Arkema (France), Lonza (Switzerland), UBE Industries, Ltd (Japan), Evonik Industries AG (Germany), and Celanese Corporation (US).
Regional Analysis
The market in North America accounted for the largest share of the high-temperature composite resin market in 2017 and is expected to continue its dominance during the forecast period. This can be attributed to the growing aerospace and defense industry on account of the increasing production of aircraft to meet global demand. According to the Aerospace Industries Association (AIA), exports by the US aerospace and defense industry grew by 26% over five years to reach USD 143 billion in 2017.
The European market is also expected to grow on account of the expanding aerospace and defense industry with the presence of key aircraft OEMs such as Dassault Aviation, BAE Systems, and Airbus Group. Additionally, the reviving automotive industry with increasing production of hydrogen fuel cell and lightweight vehicles is likely to fuel the demand for high-temperature composite resins.
The market in Asia-Pacific is expected to be the fastest growing due to the rapidly growing aviation industry in developing economies such as India, China, and Thailand. Increasing air traffic coupled with the growing tourism industry in emerging economies has led to a surge in the demand for aircraft, which is expected to drive the growth of the high-temperature composite resin market.
The Latin American market is expected to witness considerable growth due to the growing aerospace industry in Brazil and Mexico on account of increased production of commercial jets.
The market in the Middle East & Africa is likely to grow at a significant rate during the review period on account of the growing end-use industries such as aerospace and defense and transportation.
Market Segmentation
The global high-temperature composite resin market has been segmented by type, manufacturing process, end-use industry, and region.
Based on type, the market has been segmented into bismaleimides, polyimides, cyanate resins, phenolic, epoxy, benzoxazine, thermoplastic, and others.
By manufacturing process, the market has been divided into layup, injection molding, compression molding, pultrusion, filament winding, resin transfer molding, and others.
On the basis of end-use industry, the market has been segregated into aerospace and defense, automotive and transportation, electrical and electronics, and others.
Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Intended Audience
High Temperature Composite Resin Market Highlights:
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