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High Temperature Composite Resin Market’s Opportunities and Challenges

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High Temperature Composite Resin Market’s Opportunities and Challenges

November 02
22:30 2019
High Temperature Composite Resin Market’s Opportunities and Challenges

Browse 65 market data Tables and 43 Figures spread through 123 Pages and in-depth TOC on “High Temperature Composite Resin Market.
High Temperature Composite Resin Market by Resin Type (Phenolic, Epoxy, Thermoplastic, Polyimide, Cyanate Ester), Manufacturing Process, End-use Industry (Aerospace & Defense, Transportation, Electrical & Electronics), and Region

High Temperature Composite Resin Market is estimated to grow from USD 690.0 million in 2017 to USD 1,180.8 million by 2023, at a CAGR of 9.4% during the forecast period.

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Increasing demand from Europe and North America to meet stringent regulations

Currently, composites industries are concentrated mainly in the technologically advanced regions such as North America and Europe. However, there has been a shift toward emerging economies such as China, Japan, South Korea, India, Brazil, and many other countries in APAC, MEA, and Latin America. There has been an increasing demand for high temperature composite resin in interior and exterior applications in the transportation, aerospace & defense, electrical & electronics, and building & construction industries to meet the stringent regulations. The FST regulations for public transportations vary across the EU and to meet them many companies have set up research institutes and production facilities for cost-effective manufacturing of high temperature composite resins in these regions. Increasing use of composites in aircraft also helped in driving the high temperature composite market in these regions.

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Need for continuous improvement in product offering

The high temperature composite resin market constantly needs innovative products to meet the current and future stringent regulations. Continuous portfolio optimization in the high temperature composite resin market is important to sustain the high competition and to serve the composite end users. New technology is needed to reduce the curing and gel time of resin, thus increasing the production rate of composites components. Also, low temperature curing will help in lowering the gel time of the composites as well as the viscosity and the cycle time. Thus, there is a need for continuous R&D to sustain the competitiveness of the market.

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