High temperature composite resin market projected to grow at a CAGR of 9.4%
LONDON, July 9, 2018 /PRNewswire/ --
High temperature composite resin market projected to grow at a CAGR of 9.4% during forecast period
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The high temperature composite resin market is estimated at USD 753.5 million in 2018 and is projected to reach USD 1,180.8 million by 2023, at a CAGR of 9.4% during the forecast period. The major factor driving the growth of the market is the increasing demand for high temperature composite resins from the aerospace & defense end-use industry due to emission regulations and thermal resistance properties of these resins. However, the high prices and difficult processability of high temperature composite resins may restrain the growth of the market.
Lay-up projected to be fastest-growing manufacturing process of high temperature composite resin market during forecast period
The lay-up molding process is the major composite manufacturing process consuming high temperature composite resins owing to the developed aerospace & defense industry and recovery of the marine industry at the global level. This process is applicable for designing simple enclosures and lightly loaded structural panels because it provides orientation of the fibers that can be controlled as needed so that they can absorb maximum stresses to which they are subjected.
North America expected to be the fastest-growing market for high temperature composite resin during forecast period
The North American region is expected to be the fastest-growing high temperature composite resin market globally between 2018 and 2023 due to the increased demand from aerospace & defense and transportation industries. Stringent safety regulations in this region, especially in the US., have helped the high temperature composite resin market to grow in the transportation and aerospace & defense application segment. The demand for high temperature composite resin in aerospace & defense is also high owing to the presence of the largest aircraft manufacturers Boeing and Lockheed Martin in the country. The use of high temperature composite resins in fighter jets is rising significantly in the region owing to the high defense budget of the US.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into following three categories:
• By Company Type: Tier 1 — 35%, Tier 2 — 25%, and Tier 3 — 40%
• By Designation: C Level — 35%, Director Level — 30%, and Others — 35%
• By Region: North America — 30%, Europe — 25%, Asia Pacific — 30%, MEA — 10%, and Latin America — 5%
This report also provides a comprehensive analysis of the companies listed below:
• Huntsman International (US)
• Hexion (US)
• Hexcel Corporation (US)
• Royal TenCate (Netherlands)
• Sumitomo Bakelite (Japan)
• Arkema (France)
• DIC Corporation (Japan)
• Lonza (Switzerland)
• Nexam Chemical Holding (Sweden)
• UBE Industries (Japan)
Research Coverage
This report covers the market for high temperature composite resin and forecasts the market size until 2023.The report includes the market segmentation by resin type (phenolic, epoxy, thermoplastic, polyimide, cyanate ester, benzoxazine, others); manufacturing process (lay-up, filament winding, injection molding, pultrusion, compression molding, others); end-use industries (aerospace & defense, transportation, electrical & electronics, others); and region (North America, Europe, APAC, Latin America, MEA).
The Porter's Five Forces analysis, along with drivers, restraints, challenges, and opportunities have been discussed in the report. The report also provides company profiles and competitive strategies adopted by major players in the high temperature composite resin market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market in the following ways:
1. The report segments the high temperature composite resin market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. The report will help stakeholders better understand competitors and gain insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, expansions, partnerships, collaborations, and acquisitions.
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