New York, Sept. 09, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand from the aerospace and defense industries and stringent government regulations

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.

Resins that can endure excessive heat and temperature environments are known as high temperature composite resin. They are mainly famous for usage in military and commercial aircraft engines.  It is used to improve aerospace & defense industry products and recovery of the marine industry globally. With its enhanced properties and decreased curing time, the demand for lightweight and thermal resistant parts are increasing day by day.

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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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.
  • Various players are developing strategies to mark their presence in the industry.
  • In July 2018, Hexcel Corporation with Groupe Gazechim Composites together agreed to provide customized kitting services for high-level composite materials that are sold to aerospace and defense customers.
  • Technological advancements and developing policy actions could further improve the development of high temperature composites resins over the forecasted period.
  • Developing trends, which have a direct influence on the dynamics of the high temperature composite resin industry, involve the development of resin system with low VOC (volatile organic compound) and rising focus on thermoplastic resins.
  • The Key players in the High Temperature Composite Resin Market include 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, Ube Industries, Ltd.

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Segments covered in the report:

For the purpose of this study, Reports and Data have segmented the market on the basis of Resin Type, Fiber, End User, and region:                     

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

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Regional Outlook (Volume, Square Meters; and Revenue, USD Billion; 2016-2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Latin America
  • Brazil

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