Feb 07, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cyanate Ester Resins Market.
It was estimated prior to this unanticipated outbreak that the Cyanate Ester Resins Market is projected to grow at an impressive rate of 6.3% during the forecast period. Cyanate ester resin currently accounts for a minuscule share of the total composite resins market but is likely to witness a higher CAGR (6.3% vs 4.7%) over the next five years. Cyanate ester resins offer excellent strength and toughness, better electrical properties, high-temperature resistance, and lower moisture absorption. Their high-temperature-resistant properties are similar to BMI and polyimide resins when they are formulated correctly. They find use for a host of applications including antennae, radomes, wings, microelectronics and microwave products in the aerospace & defense and electrical & electronics industries. All these factors are proliferating the demand for cyanate ester resins in the global market.
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Based on the end-use industry type, the cyanate ester resins market is segmented into Aerospace & Defense, Electrical & Electronics, and Others. Aerospace & Defense is expected to remain the largest consumer of cyanate ester resins during the forecast period. The industry is also likely to witness the highest growth during the same period. Cyanate ester resin is gaining grounds in manufacturing composite parts for aircraft and spacecraft, owing to its high-temperature resistance property. Spacecraft and missiles are the major users of cyanate esters in the aerospace & defense industry. The resin type is also finding usage in wings of military aircraft.
Based on the application type, the cyanate ester resins market is segmented into Composites, Adhesives, and Others. Composites accounted for the largest share of the global cyanate ester resin market in 2017 and will continue to surge ahead during the forecast period. Composites have been successful in marking their presence in most of the end-use industries in almost all types of applications including high-temperature-resistant applications. Various resins, such as cyanate esters, BMI, and polyimides, have been gaining market traction in high-temperature composite applications. Cyanate esters are increasingly used for the fabrication of structural applications of spacecraft and missiles.
Based on regions, North America is expected to remain the largest market for cyanate ester resins during the forecast period. The region is the world’s manufacturing capital of aerospace & defense industry with the presence of many large-to small-sized OEMs, tier players, cyanate ester resin suppliers, distributors, and raw material suppliers. The USA not only leads the cyanate ester resin market in North America, but also globally.
Asia-Pacific is a relatively small market but is estimated to be the fastest-growing one during the same period, primarily driven by China and Japan. Upcoming aircraft programs, such as COMAC C919 and Mitsubishi MRJ, increasing presence of major aircraft OEMs, such as Boeing and Airbus, and increasing demand for military aircraft are some of the factors driving the demand for composites including cyanate ester resins. The region is the manufacturing capital of electrical & electronics industry, owing to low-cost labor, excellent infrastructure, developed supply chain, and availability of low-cost materials. All these factors are contributing towards a significant growth of the cyanate ester resins’ demand in the region.
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Key players operating in the global Cyanate Ester Resins market are-
- Lonza Group,
- Huntsman Corporation,
- Henkel AG & Company,
- Cytec Solvay Group,
- Hexcel Corporation,
- TenCate Advanced Composites
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cyanate Ester Resins analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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