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‘High-Temperature Composite Resins Market to become US$ 168.3 million opportunity in 2023’– Stratview Research Market Report

04-02-2019 08:33 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

‘High-Temperature Composite Resins Market to become US$

As per the latest market intelligence report published by Stratview Research, the High-Temperature Composite Resins Market is anticipated to reach at US$ 168.3 million by 2023.
The research studies High-Temperature Composite Resins Market in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under four segments by Resin Type (BMI, Cyanate Ester, Polyimide, Thermoplastics, and Others), by End-Use Industry Type (Aerospace & Defense, Transportation, and Others), by Manufacturing Process Type (Prepreg Layup, RTM, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

The study finds –
 BMI resin is likely to remain the most dominant high-temperature resin type in terms of volume over the next five years.
 Aerospace & defense is likely to remain the most dominant segment during the forecast period.
 Prepreg layup is expected to remain the most dominant process for manufacturing composite parts made using high-temperature resins.
 North America is projected to remain the largest market during the forecast period, driven by the world’s leading aircraft OEMs, aeroengine manufacturers, tier players, and material suppliers.
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The High-Temperature Composite Resins Market: Highlights
Resins used for composite applications, which can withstand extreme heat and temperature environments, are considered as high-temperature composite resins. High-temperature resins have a long history in the composites industry with usage in military and commercial aircraft engines. Nowadays, composite stakeholders are betting on these resin technologies in other applications including airframe and other hot sections.
The global high-temperature composite resins market is projected to grow at a healthy rate over the next five years to reach US$ 168.3 million in 2023. Increasing penetration of composites in aerospace and automotive industries coupled with a greater demand for high-temperature composites, increasing production rates of high-temperature composite rich F-35 aircraft, and superior performance benefits of high-temperature resins are the key factors proliferating the growth of the market.
High-temperature resin excels the performance of composite parts and enhances parts’ ability to withstand extreme heat and harsh environmental conditions. Also, the resin performs better under fatigue compared to more brittle ceramics and are lighter than metals; therefore, manufacturers have started adopting high-temperature resins instead of using ceramics and exotic metals. The aircraft engine is one of the biggest application areas of high-temperature composite resins as it is prone to extreme temperature and heat environments.
Newer jet engines and 5th generation fighter aircraft have pushed service temperature into the range of 600°F to 1000°F (316°C to 538°C), along with an increasing demand for composite materials in order to achieve excellent strength-to-weight ratio. Lockheed Martin’s F-35 is among the best-selling fifth-generation aircraft, which has incorporated high-temperature composite resins. About 35% of the aircraft is made of composites and approximately 50% of which is high-temperature composites.
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Based on the resin type, the high-temperature composite resins market is segmented as BMI, Cyanate Ester, Polyimide, Thermoplastics, and Others. BMI resin is likely to remain the most dominant high-temperature resin type in terms of volume over the next five years. It is preferably used in military aircraft engines as well as airframe applications, nacelles of business jet engines, tooling prepreg, and hot-air ducts. However, polyimide resin is likely to remain the largest resin type in terms of value during the forecast period. Polyimide composite parts can withstand continuous use up to 315°C (600°F) and intermittent use up to 480°C (900°F) and exhibit extremely high dimensional stability at elevated temperatures.

The global high-temperature composite resins market is segmented based on the end-use industry type as Aerospace & Defense, Transportation, and Others. Aerospace & defense is likely to remain the most dominant segment during the forecast period. Increasing production rate of high-temperature composite rich fighter aircraft F-35 (Joint Strike Fighter) is likely to give an impetus to the demand for high-temperature composites in the industry. Lockheed Martin announced it has increased the deliveries of F-35 by 40% in 2017 than the previous year. The company is likely to further increase its annual deliveries from 66 aircraft in 2017 to an expected delivery of 160 aircraft in 2023. Another key application area of high-temperature composite resin is tooling prepreg, where BMI resin is gaining traction.

Based on the manufacturing process type, the high-temperature composite resins market is segmented as Prepreg Layup, RTM, and Others. Prepreg layup is expected to remain the most dominant process for manufacturing composite parts made using high-temperature resins. It is the most widely preferred process for manufacturing of critical parts in the aerospace & defense industry, where high-temperature resin systems are used. Prepreg layup offers various advantages, such as consistent material properties, high fiber volume, flexibility in fiber orientation, low-void content, and easy to operate on complicated shapes.
Based on regions, North America is projected to remain the largest market during the forecast period, driven by the world’s leading aircraft OEMs, aeroengine manufacturers, tier players, and material suppliers. The USA is the growth engine of the region’s market. Lockheed Martin has opened a new manufacturing facility to produce its high-temperature composite resin rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a total un-filled order of more than 2,691 F-35 aircraft from 12 countries out of which the USA’s inventory objective is 2,456 F-35 aircraft.
Europe is projected to remain the second largest market for high-temperature composite resins during the forecast period. Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs, which are driving the demand for high-temperature composite resins in the European market.
The supply chain of this market comprises raw material suppliers, high-temperature resin manufacturers, prepreggers & compounders, tier players, OEMs, and airliners. The key high-temperature composite resin manufacturers include Solvay S.A., TenCate Advanced Composites, Lonza Group, Hexcel Corporation, and Renegade Materials Corporation. The development of low-cost high-temperature composite resins with an ease of manufacturing processes; reduced operational cost; and formation of strategic alliances are the key strategies adopted by the players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of high-temperature composites Resins Market. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.
Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through the reports:
Click Here for Other Reports from Stratview Research in the Advanced Material Industry: https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

Stratview Research is a global market intelligence firm offering a wivde range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

We have a strong experienced team of industry veterans and research analysts with a perfect blend of wisdom, knowledge and attitude. We have been serving multiple clients across a wide array of industries.

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