Cyanate Ester Resins Market Growth Analysis
Cyanate Ester Resins Market Growth Analysis, Industry Trends, Development Status and Forecast by 2028
The global cyanate ester resins market is forecast to reach USD 616.2 Million by 2028, according to a new report by Reports and Data. Cyanate esters based on a bisphenol or novolac derivative are used in the production of resins. Cyanate ester resins have various applications in end-use industries such as aerospace & defense, automotive, electrical & electronics, and marine industries. These resins possess properties such as excellent strength and toughness, high-temperature resistance, better electrical properties, and lower moisture absorption.
The market for cyanate ester resins is influenced by the rising demand from the aerospace & defense and electrical & electronics industries for application in antennae, wings, radomes, microelectronics, and microwave products.
The above-mentioned factors collectively create opportunities for the market growth while factors such as high manufacturing costs and issues related to recyclability, and testing of cyanate ester resins pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the cyanate ester resins market owing to innovative efforts have enhanced the efficiency of resins.
Further key findings from the report suggest
- Bisphenol-based cyanate ester resin held a larger market share of 53.4% in the year 2018. Cyanate ester resins developed from bisphenol possess enhanced properties and are tougher in comparison to epoxy resins. Moreover, the curing process of bisphenol-based cyanate ester resin is easier than epoxy resins.
- The composite segment is forecasted to grow with the highest CAGR of 11.8% during the forecast period. The growth is attributed to the usage of composites majorly in automobile, and aerospace & defense industries.
- Aerospace & defense held the largest market share of 56.4% in the year 2018. Cyanate ester resin is extensively used in manufacturing composite parts for spacecraft and aircrafts because of its high-temperature resistance property. Spacecraft, missiles, and wings of military aircrafts are the major users of this product in the aerospace and defense industry.
- Asia Pacific is forecasted to grow with the highest CAGR of 11.9% during the forecast period. The increasing presence of major aircraft original equipment manufacturers (OEMs) in China and Japan and increasing demand for military aircrafts are fueling the market for cyanate ester resins market in the region.
Top players profiled in the report include:
Argosy International, Novoset, Tencate Advanced Composites, Hexcel Corporation, Cytec Solvay Group, Henkel, Huntsman Corporation, Lonza, Koninklijke Ten Cate BV., and MITSUBISHI GAS CHEMICAL COMPANY, INC. among others.
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Geographic Segment Covered in the Report:
The Cyanate Ester Resins report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)
Summary of the Cyanate Ester Resins Market Research Report:
- Insightful information regarding the global Cyanate Ester Resins market
- Strategic recommendations for the investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Thorough SWOT analysis and Porter’s Five Forces analysis along with feasibility analysis and investment return analysis
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