The high temperature composite resin market is expected to reach USD 1.63 Billion by 2026, according to a new report by Reports and Data. The High Temperature Composite Resin Market is anticipated to show robust growth during the forecast period. The key factors driving the market is growing demand for lightweight materials from transport and aerospace industry which tends to stimulate the market globally.
APAC is anticipated to witness the highest rate of 9.8% during the forecast period. The market is expected to be the fastest-growing in this region due to the quickly growing aviation industry in developing economies. Growing air traffic coupled with the growing tourism industry in emerging economies has led to a rise in demand for aircrafts, which is expected to accelerate the growth of the high-temperature composite resin market.
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Top Companies: Hexcel Corporation, Huntsman International LLC, Koninklijke Ten Cate bv, Hexion Inc., Sumitomo Bakelite Company Limited, DIC Corporation, Lonza AG, Arkema S.A., Nexam Chemical Holding AB, and Ube Industries, Ltd
Further key findings from the report suggest
- The High Temperature Composite Resin Market is estimated to reach USD 1.63 Billion by 2026, at a CAGR of 8.9% during the forecast period.
- High temperature composite resins exhibit exceptional performance in the severe environmental circumstances and high temperatures. They are thus frequently utilized in a composite component in automobiles and aircraft. Nowadays, it has become crucial to design aircrafts that can endure a broad and more powerful range of temperature.
- The polyimide resin accounts for the largest share of 22.8% of the market in 2018.
- The aerospace and defense end user segment accounts for the largest share of 27.3% of the market in 2018.
- The compression molding manufacturing process accounts for the second largest share of 22.3% of the market in 2018.
- North America dominates the market with the largest share of 31.3% in 2018. The market in this region is expected to dominate due to the thriving aerospace and defense industry on account of the growing production of aircraft to meet global demand.
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Resin Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Thermoset
- Thermoplastic
Fiber Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Carbon/Glass and Glass/Carbon
- Aramid/Carbon
- HMPP/Carbon
- UHMWPE/Carbon
- Others
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
- Automotive & Transportation
- Marine
- Aerospace & Defense
- Wind Energy
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global High-Temperature Composite Resin market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global High-Temperature Composite Resin market over the forecast years?
- Which are the leading players in the global High-Temperature Composite Resin market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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