High Temperature Composite Resin Market size was valued at USD 0.87 Billion in 2020 and is projected to reach USD 1.92 Billion by 2028, growing at a CAGR of 10.50% from 2022 to 2028.
The Global High Temperature Composite Resin Market is rapidly growing as a result of rising demand for high-temperature composite resins in a variety of end-use sectors, including electrical, aircraft, transportation, and defence. Furthermore, tight safety rules governing vehicle transportation are expected to boost the growth of the High Temperature Composite Resin Market globally. The report on the Global High Temperature Composite Resin Market provides a comprehensive analysis of the industry. The research includes a detailed analysis of the market’s major segments, trends, drivers, restraints, competitive landscape, and other important variables.
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Definition of the Global High Temperature Composite Resin Market
High-temperature composite resins are resins used in composite applications that can withstand extreme heat and temperature. Thermosetting polymer polymers are used to make high-temperature composite resins. Adhesives and sealants are common examples of where they’re used. Bismaleimides, cyanate esters, polyamides, epoxy, and phenolic are some of the most often used high-temperature composite resins. High-temperature composite resin is used in applications where the service temperature of traditional epoxy materials is insufficient. These materials can withstand temperatures of up to 427°C in service. These are high-temperature polymers with great thermal stability, mechanical qualities, and chemical resistance, making them perfect for the manufacture of ducts, hot sections, and engines. Apart from that, high-temperature composite resin is utilised in heat protection systems, rocket engine nozzles, titanium substitution in launch vehicles and aircraft, power plants, military-specific applications, and other applications.
Overview of the Global High-Temperature Composite Resin Market
The increasing usage of composites in the aerospace and automotive industries, as well as a huge demand for high-temperature composites in developing countries, are driving the Global High-Temperature Composite Resins Market. Additionally, the increasing production rates of high-temperature composite-rich F-35 aircraft, as well as the superior performance benefits of high-temperature resins, are key factors driving the market’s global expansion. Furthermore, the global High Temperature Composite Resin Market is rapidly expanding as a result of rising demand for high-temperature composite resins in a variety of end-use industries, including electrical, aircraft, transportation, and defence. Furthermore, tight safety rules governing vehicle transportation are expected to boost the growth of the High Temperature Composite Resin Market globally.
There are some limitations and roadblocks that will stifle overall market growth. The market’s growth is being stifled by reasons such as the high cost of high-temperature composite resins and recycling-related concerns. Moreover, sluggish growth is expected over the forecast period due to handling and processing challenges, as well as the necessity for ongoing development in product offerings.
Product, Application, And Geography Segments Of The Global High Temperature Composite Resin Market
High Temperature Composite Resin Market, By Product
• Cyanate Ester
High Temperature Composite Resin Market, By Application
• Aerospace & Defense
• Electrical & Electronics
The Global High Temperature Composite Resin Market is divided into four regions based on regional analysis: North America, Europe, Asia Pacific, and the Rest of the World. Because of rising demand from the aerospace and defence and transportation sectors, North America has the greatest market share. Due to the high defence budget of the United States, the usage of high-temperature composite resins in fighter planes is increasing rapidly in the region, and current projects will increase the market in the North American region.
The study report on the “Global High Temperature Composite Resin Market” will provide useful information with a focus on the global market and some of the leading players such as DIC Corporation, Huntsman International LLC, Royal Tencate N.V., Sumitomo Bakelite Co., Ltd., Arkema S.A., Lonza AG, Hexcel Corporation, Hexion Inc, Nexam Chemical Holding AB, and UBE Industries, Ltd.
• Sumitomo Bakelite Ltd teamed up with GRIP Metal (Canada) in December 2017 to produce high-quality composites for aerospace and automotive applications. The usage of thermoset composites is thought to provide value and provide cost-effective solutions.
• Hexcel and Arkema (France) formed a collaboration in March 2018 to develop thermoplastic solutions for the aerospace sector. The company focuses on producing thermoplastic carbon fiber-reinforced tapes to service the aerospace and defence industries.
• Solvay, a Belgian chemical firm, said in September 2020 that its KetaSpire PEEK XT, which was unveiled at the Germany K 2019 trade exhibition, is the market’s first real high-temperature polyetheretherketone (PEEK). When compared to a normal polyetheretherketone, the business says that the material has much higher stiffness and strength at elevated temperatures, with about 50% higher tensile strength at 160°C and approximately 400% higher tensile modulus.
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