According to a new market report published by Lucintel, the future of the global high temperature composite resin market looks promising with opportunities in aerospace & defense, pipe & tank and electrical & electronics industries. The global high temperature composite resin market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $1.0 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are increasing demand for high temperature resistance composites and standardization of materials to withstand certain temperature performance.
Browse 97 market data tables and 134 figures spread through 211 pages and in-depth TOC on “Global Stent Market"
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In this market, different types of high temperature composite resin such as epoxy, vinyl ester, phenolic, BMI, cyanate ester, PEEK, others are used as resin type. On the basis of comprehensive research, Lucintel forecasts that epoxy resin will remain the largest segment by value and volume due to its wide application area in aerospace & defense and pipe and tank. PEEK resin is expected to witness highest growth over the forecast period due to its increasing demand in thermoplastic composites.
Within the high temperature composite resin market, pipe & tank will remain the largest end use industry. Others segment (which includes transportation, industrial) is expected to witness highest growth over the forecast period due to the increasing requirement for high performance and heat resistance materials.
North America will remain the largest region due to the strong demand form pipe and tank and aerospace/defense industries. Europe is expected to witness the highest growth during the forecast period due to the increasing production rate of advanced aircraft models with higher composite content and expected demand for high heat resistance materials.
Emerging trends, which have a direct impact on the dynamics of the high temperature composite resin industry, include development of resin system with low volatile organic compound (VOC) and increasing focus on thermoplastic resins. Hexion, Huntsman, Victrex, Solvay, and Olin and others are among the major high temperature composite resin manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global high temperature composite resin market by end use industry, resin, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global High Temperature Composite Resin Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global high temperature composite resin market by end use industry, resin, and region as follows:
By End Use Industry [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Pipe & Tank
Aerospace & Defense
Electrical & Electronics
Others
By Resin [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
Epoxy
Vinyl Ester
Phenolic
Bismaleimide (BMI)
Cyanate Ester
Polyetheretherketone (PEEK)
Others
By Region [Volume (Kilotons) and $M shipment analysis from 2014 to 2025]:
North America
Europe
Asia Pacific
The Rest of the World
This 211-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/high-temperature-composite-resin-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.