Cyanate Ester Resins Market is likey to Grow at 6.3% CAGR over the Next Five Years

Stratview Research has published a new research report on Cyanate Ester Resins Market. This extensive 206-page report by Stratview Research analyses the growth of Cyanate Ester Resins Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023 under the following segments -
• by End-Use Industry Type (Aerospace & Defense, Electrical & Electronics and Others),
• by Application Type (Composites, Adhesives, and Others),and
• by Region (North America, Europe, Asia-Pacific, and Rest of the World)

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The Cyanate Ester Resins Market offer excellent strength and toughness
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.

Aerospace & Defense is to remain the largest consumer
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.

Composites accounted for the largest share
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.

North America is expected to remain the largest market
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.

Top Key Players
The supply chain of this market comprises raw material suppliers, resin manufacturers, tier players, OEMs, and end-users. Major cyanate ester resin manufacturers are Lonza Group, Huntsman Corporation, Henkel AG & Company, Cytec Solvay Group, Hexcel Corporation, and TenCate Advanced Composites. New product development, regional expansion, and development of long-term relationships with tier players are some of the key strategies adopted by the major players to gain a competitive edge in the market. Most of the major players are developing low-temperature-resistant cyanate esters at a reduced cost targeting high-temperature composite applications, especially aerospace & defense industry.
Companies have resorted to strategies, such as mergers & acquisitions, to uplift their existing customer base in the market. Key companies functional in this market focus on providing tailor-made products and enhance their presence in emerging markets. Solvay S.A. successfully completed the acquisition of Cytec Industries in 2015. This acquisition strengthened Solvay's position in the advanced composites business. This also led to entry of the company in the cyanate ester resin market.

Why Stratview Research
Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Cyanate Ester Resins Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2012 – 2017) and forecast analysis (2018-2023) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.

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