Global High Temperature Composite Resin Market: Overview
The products and solutions in the global high temperature composite resin market are made from various resin materials, including epoxy, polyamide, cyanate ester, phthalonitriles, phenolic, thermoplastic, BMI, and benzoxazine, among others. The products offered by market players are used in various end-use industry verticals, including but not limited to, transportation, oil and gas, medical, industrial, aerospace and defense, electrical and electronics, building and construction, and marine, among others. Aerospace and defense is one of the most prominent end users for the products in the global high temperature composite resin market. Rising demand for these solutions in aerospace and defense industry can be attributed to rising demand for manufacturing of various aviation components, such as aircraft interiors, engine parts, and outer structures of satellites, missiles, and aircraft.
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Based on the manufacturing process, solutions in the global high temperature composite resin market can be divided into segments such as filament winding, pultrusion, resin film infusion, layup, injection molding, tube rolling, RTM, and compression molding, among others. Increasing demand for lay-up molding processed resins from marine and aerospace & defense industries is positively affecting growth within the global high temperature composite resin market.
Global High Temperature Composite Resin Market: Major Trends and Drivers
The rising demand from transportation, as well as aerospace and defense industries is boosting growth within the global high temperature composite resin market. The products in the global high temperature composite resin market feature excellent thermal performance, which attracts high demands from end users. However, the high cost associated with these composite resin solutions and compounds may hamper the growth within the market in coming years. Furthermore, various limitations of existing products and the increasing need for improvements and technological advancements in product offerings may also restrict the adoption of products in the global high temperature composite resin market in years to come.
On the other hand, rising demand from developed economies in regions such as North America as well as Europe to meet the strict safety standards and regulations is anticipated to boost growth of the global high temperature composite resin market in the near future. Rising use of these composites in manufacturing of aircraft is also aiding in the expansion of the global high temperature composite resin market in coming years.
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Global High Temperature Composite Resin Market: Key Players and Manufacturers
A few of the leading manufacturers and players operational in the global high temperature composite resin market are Sumitomo Bakelite Co., Ltd., Arkema S. A., Hexcel Corporation, Nexam Chemical Holding AB, UBE Industries Ltd., Huntsman International LLC, Royal Tencate N. V., Lonza AG, Hexion Inc., and DIC Corporation, among others. Players in the global high temperature composite resin market are focused on developing next-gen and technologically advanced materials and solutions to attract a larger base of customers. Furthermore, some other notable strategies for expansion employed by these players include mergers and acquisitions, expansion of production capacities, and partnerships.
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Global High Temperature Composite Resin Market: Regional Assessment
North America is anticipated to develop at the fastest rate in the global high temperature composite resin market in coming years. Some of the key drivers behind the expansion of the North America global high temperature composite resin market include rising demand from regional transportation and aerospace industries, as well as increasing regulations and standards pertaining to safety in key economies, such as the United States. Furthermore, the presence of several massive aircraft manufacturers, including Lockheed Martin and Boeing in the region is also bolstering the development within this regional industry. In addition to this, increasing use of high temperature composite resins in fighter jets, as a result of increase in the defense budget of the United States is also fueling growth within the North America high temperature composite resin market.
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