High-Temperature Composite Resins Market projected to reach US$ 180.5 million in the forecast period (2019-2024)

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, High-Temperature Composite Resins Market is expected to inflate at impressive CAGR by the forecast period (2019-2024).

Request The Table of Contents through here:
https://www.stratviewresearch.com/toc/186/high-temperature-composite-resin-market.html

Highlights of the Report:
The global high-temperature composite resins market is projected to grow at a healthy rate over the next five years to reach US$ 180.5 million in 2024. Increasing penetration of composites in the 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.

Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/186/high-temperature-composite-resin-market.html

Market Segments:
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 resin type in terms of volume over the next five years. It is highly used in military aircraft engines as well as airframe applications, nacelles of business jet engines, tooling prepreg, and hot-air ducts. Polyimide resin is likely to remain the largest resin type in terms of value over the next five years. 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 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 rates of high-temperature composite-rich fighter aircraft F-35 (Joint Strike Fighter) is likely to create an impetus in the demand for high-temperature composites in the industry. Lockheed Martin announced it has experienced a 40% increase in deliveries of F-35 aircraft in 2018 over the previous year. The company is likely to further increase its annual deliveries from 91 aircraft in 2018 to an expected delivery of 160 aircraft in 2023. Another key application area of high-temperature composite resin is the tooling prepreg where BMI 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 dominant process for manufacturing composite parts made using high-temperature composite resins. The process 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 an easy to operate on complicated shapes.

Based on the 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-rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a current US government’s inventory objective of 2,456 F-35 aircraft for the U.S. Air Force, U.S. Marine Corps, and U.S. Navy; commitments from our eight international partners, and three international customers; as well as expressions of interest from other countries.

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 in the region, which are driving the demand for high-temperature composite resins in the European market.

Market Players:
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., Toray Advanced Composites (TenCate Advanced Composites), Lonza Group, Hexcel Corporation, and Renegade Materials Corporation (a part of Teijin Ltd.). 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.

Features of the Report
Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

Stratview Research
400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
sales@stratviewresearch.com

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research. We are a trusted brand in the research industry with capability of commissioning complex projects within a short span of time with high level of accuracy.

This release was published on openPR.