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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.
The high-temperature composite resin market is influenced by various factors that shape its dynamics and growth. Market factors encompass a wide range of elements that impact the demand, supply, and overall landscape of these resins.
One crucial factor is the growing demand across industries for lightweight, durable, and heat-resistant materials. High-temperature composite resins fulfill these requirements, making them highly sought-after in aerospace, automotive, electronics, and oil & gas sectors. The need for materials that can withstand extreme temperatures while maintaining structural integrity drives the market forward.
Technological advancements play a pivotal role in shaping the high-temperature composite resin market. Ongoing research and development efforts lead to the innovation of new resin formulations with improved properties. Enhanced heat resistance, mechanical strength, and cost-effectiveness are key areas of focus, driving market expansion as these advanced resins become available.
Another significant market factor is the regulatory landscape and environmental concerns. Stringent regulations regarding emissions and the push for sustainable materials propel the demand for eco-friendly high-temperature composite resins. Manufacturers are increasingly investing in developing bio-based or recyclable resins, aligning with global sustainability goals.
Moreover, the market is greatly influenced by the economic landscape and global trade dynamics. Fluctuations in raw material prices, geopolitical tensions impacting trade, and currency exchange rates directly impact production costs and market competitiveness. Additionally, shifts in consumer preferences towards quality, performance, and cost-effectiveness influence purchasing decisions, shaping market trends.
The competitive landscape and industry collaborations also contribute significantly to the market factors. Companies engage in mergers, acquisitions, and strategic partnerships to enhance their product portfolios, expand their market presence, and gain a competitive edge. Such collaborations often lead to the development of innovative high-temperature composite resin solutions.
Furthermore, the market is sensitive to end-user industries' cyclical nature. For instance, the aerospace industry's demand for high-temperature composite resins might fluctuate based on aircraft production cycles or global economic conditions. Understanding these fluctuations is vital for resin manufacturers to adapt and strategize effectively.
Consumer awareness and education regarding the benefits of high-temperature composite resins also impact market growth. As industries and consumers become more informed about the advantages these resins offer, there is a gradual shift towards their adoption, further driving market expansion.
High Temperature Composite Resin Market Highlights:
High-Temperature Composite Resin Market Overview
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 manufacturers
- Traders and distributors of high-temperature composite resin
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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