Cyanate Ester Resins Market to Receive Overwhelming Hike in Revenues by 2026

Global Cyanate Ester Resins Market: Overview

Cyanate ester resins offer exceptional toughness and strength with improved electrical properties. They also offer lower moisture absorption compared to other resins. Cyanate ester resins provide high performance even at high temperature. Their performance is often compared to that of bismaleimide and polyimide resins. Cyanate ester resins are used in a varied range of applications including aircraft, spacecraft, antennae, missiles, microwave products, and microelectronics. Cyanate esters are formed through the reaction of cyanic acid and bisphenol esters. This reaction forms cyclotrimerize to further produce triazine rings during a second cure.

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Cyanate ester resins are preferred since they are more easily cured during the reaction compared to other epoxies. Toughness and strength of cyanate ester resins can be augmented by adding spherical rubber particles or thermoplastics. Many competitive properties of the cyanate ester resins matrix are inherited by composite materials produced from it. Various characteristics of cyanate ester resins such as heat resistance, high impact resistance, wet hot property, and good dielectric properties are preserved in composites made from cyanate ester resins.

Cyanate Ester Resins Market: Drivers and Restraints

Production of automotive has increased by 15% since 2010. Focus on reduction of vehicle weight to reduce CO2 emissions has been a key trend in the industry. Automotive manufacturers and OEMs are constantly seeking innovative materials to curb vehicle weight and achieve fuel efficiency and carbon emission targets owing to the implementation of stringent environmental norms and government regulations. Global production of light vehicles increased to 50 million in 2015 from approximately 35 million in 2010, significantly boosting the development and consumption of advanced materials such as composites to partially replace traditional materials such as steel. Cyanate ester resins are thermoset resins used to manufacture composites. These composites offer several structural and weight advantages over traditional steel and injection molded automotive parts. They are used as raw materials to manufacture various structural, interior, exterior, and other automobile components, aircraft components, etc. Cyanate ester resins offer high stiffness, tensile strength, temperature tolerance, and low weight and thermal expansion. Thus, they are preferred by component manufacturers. Therefore, rise in demand for composite materials in various end-use industries is expected to drive the cyanate ester resins market.

Cyanate Ester Resins Market: Segmentation

Based on application, the cyanate ester resins market can be segmented into:

Automotive & Transportation
Aerospace
Microelectronics
Others

Composites offer many structural and weight advantages over traditional steel and injection molded automotive parts such as cost & weight reduction and recyclability. Advanced materials play an important role in boosting the fuel economy of modern automobiles, while maintaining safety and performance. A 10% reduction in vehicle weight can result in 6%–8% improvement in fuel economy. Replacing cast iron and traditional steel components with lightweight materials such as carbon and glass fiber polymer composites can directly lower the weight of a vehicle’s body and chassis by up to 50% and thereby its fuel consumption. By using lightweight structural material, cars can carry additional advanced emission control systems, safety devices, and integrated electronic systems.

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Regional Cyanate Ester Resins Market Analysis

Cyanate ester resins are primarily consumed in Asia Pacific, since composite manufacturing is majorly concentrated in the region. North America and Europe also hold significant share of the cyanate ester resins market owing to the rise in automobile production in Europe and increase in aircraft component manufacturing in North America.

Cyanate Ester Resins Market: Key Players

Key players operating in the cyanate ester resins market include:

Hexcel Corporation
Henkel AG & Co. KGaA
Lonza

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