At 9.4% + CAGR, High Temperature Composite Resin Market to be worth more than USD 1,180.8 million by 2023

“High temperature composite resin market projected to grow at a CAGR of 9.4% during forecast period”

The high temperature composite resin market is estimated at USD 753.5 million in 2018 and is projected to reach USD 1,180.8 million by 2023, at a CAGR of 9.4% during the forecast period. The major factor driving the growth of the market is the increasing demand for high temperature composite resins from the aerospace & defense end-use industry due to emission regulations and thermal resistance properties of these resins. However, the high prices and difficult processability of high temperature composite resins may restrain the growth of the market.

 

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“Lay-up projected to be fastest-growing manufacturing process of high temperature composite resin market during forecast period”

The lay-up molding process is the major composite manufacturing process consuming high temperature composite resins owing to the developed aerospace & defense industry and recovery of the marine industry at the global level. This process is applicable for designing simple enclosures and lightly loaded structural panels because it provides orientation of the fibers that can be controlled as needed so that they can absorb maximum stresses to which they are subjected.

 

“North America expected to be the fastest-growing market for high temperature composite resin during forecast period”

The North American region is expected to be the fastest-growing high temperature composite resin market globally between 2018 and 2023 due to the increased demand from aerospace & defense and transportation industries. Stringent safety regulations in this region, especially in the US., have helped the high temperature composite resin market to grow in the transportation and aerospace & defense application segment. The demand for high temperature composite resin in aerospace & defense is also high owing to the presence of the largest aircraft manufacturers Boeing and Lockheed Martin in the country. The use of high temperature composite resins in fighter jets is rising significantly in the region owing to the high defense budget of the US.

 

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This study has been validated through primaries conducted with various industry experts, globally.

These primary sources have been divided into following three categories:

  • By Company Type: Tier 1 — 35%, Tier 2 — 25%, and Tier 3 — 40%
  • By Designation: C Level — 35%, Director Level — 30%, and Others — 35%
  • By Region: North America — 30%, Europe — 25%, Asia Pacific — 30%, MEA — 10%, and Latin America — 5%

 

This report also provides a comprehensive analysis of the companies listed below:

  • Huntsman International (US)
  • Hexion (US)
  • Hexcel Corporation (US)
  • Royal TenCate (Netherlands)
  • Sumitomo Bakelite (Japan)
  • Arkema (France)
  • DIC Corporation (Japan)
  • Lonza (Switzerland)
  • Nexam Chemical Holding (Sweden)
  • UBE Industries (Japan)

 

Related Report:

 

Global High Temperature Composite Resin Industry Market Research Report

The High Temperature Composite Resin market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the High Temperature Composite Resin industrial chain, this report mainly elaborate the definition, types, applications and major players of High Temperature Composite Resin market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the High Temperature Composite Resin market.

Read More: https://watchersofmarkets.com/products/global-high-temperature-composite-resin-industry-market-research-report

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Posted by on Saturday August 11 2018, 5:31 AM EST. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Featured Press Release, Manufacturing, Manufacturing & Construction, Plastics, Technology Hardware & Equipment, Technology, Media, & Telecommunications, Textiles. Comments and Trackbacks closed. Follow responses: RSS 2.0

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