According to a new market report published by Lucintel, the future of the global high temperature composite resin market looks promising with opportunities in aerospace & defense, pipe & tank and electrical & electronics industries. The global high temperature composite resin market is expected to reach an estimated $1.1 billion by 2024 with a CAGR of 4.9% from 2019 to 2024. The major drivers for this market are increasing demand for high temperature resistance composites and standardization of materials to withstand certain temperature performance.
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In this market, different types of high temperature composite resin such as epoxy, vinyl ester, phenolic, BMI, cyanate ester, PEEK, others are used as resin type. On the basis of comprehensive research, Lucintel forecasts that epoxy resin will remain the largest segment by value and volume due to its wide application area in aerospace & defense and pipe and tank. PEEK resin is expected to witness highest growth over the forecast period due to its increasing demand in thermoplastic composites.
Within the high temperature composite resin market, pipe & tank will remain the largest end use industry. Others segment (which includes transportation, industrial) is expected to witness highest growth over the forecast period due to the increasing requirement for high performance and heat resistance materials.
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North America will remain the largest region due to the strong demand form pipe and tank and aerospace/defense industries. Europe is expected to witness the highest growth during the forecast period due to the increasing production rate of advanced aircraft models with higher composite content and expected demand for high heat resistance materials.
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Emerging trends, which have a direct impact on the dynamics of the high temperature composite resin industry, include development of resin system with low volatile organic compound (VOC) and increasing focus on thermoplastic resins. Hexion, Huntsman, Victrex, Solvay, and Olin and others are among the major high temperature composite resin manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global high temperature composite resin market by end use industry, resin, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global High Temperature Composite Resin Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global high temperature composite resin market by end use industry, resin, and region as follows:
By End Use Industry [Volume (Kilotons) and $M shipment analysis from 2013 to 2024]:
- Pipe & Tank
- Aerospace & Defense
- Electrical & Electronics
By Resin [Volume (Kilotons) and $M shipment analysis from 2013 to 2024]:
- Vinyl Ester
- Bismaleimide (BMI)
- Cyanate Ester
- Polyetheretherketone (PEEK)
By Region [Volume (Kilotons) and $M shipment analysis from 2013 to 2024]:
- North America
- Asia Pacific
- The Rest of the World
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This 211-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/high-temperature-composite-resin-market.aspx or [email protected].
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global high temperature composites resin market by end use industry (aerospace & defense, pipe & tank, electrical/electronics, and others), resin (epoxy, vinyl ester, phenolic, BMI, cyanate ester, PEEK, others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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