Global High Temperature Resin Market: Snapshot
Rapid urbanization and a surge in industrialization activities are some of the factors that are driving the global high temperature resin market. The growing application areas and an increase in the demand for high temperature resin from defense and railway applications are pushing the growth of this market. Today mechanical fasteners are being replaced by high temperature resin adhesives for composite applications, and this is creating a heightened demand for this product.
High temperature resins are also used in aerospace, transportation, construction, and marine, boosting their demand. They are used in composites to increase the ignition resistance, reduce fume emission, decrease smoke, and heat release. In the aerospace industry, high temperature resins are used in ceilings, edges, sidewalls, bulkheads, doors, floorings, window reveals, latches, seating, and ducting. Thus, these resins are increasingly in demand.
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The electronic industry is a key application area of high temperature resins and since the electronic industry is witnessing a high growth from the past few years and is anticipated to continue to do so. This in turn spells growth in the high temperature resin market. As the electronics industry is flourishing in Asia Pacific and urbanization and industrialization activities are increasing in the developing nations of the region, Asia Pacific is anticipated to be a lucrative market for high temperature resins. India and China are anticipated to contribute significantly in the years to come to the growth of the Asia Pacific high temperature resin market.
Global High Temperature Resin Market: Overview
The global high temperature resin market is likely to register promising growth potential in the forthcoming years. The rising demand for thermoplastic resins in the high temperature composites market is driving the global market. High temperature resins are used in some of the most rigorous applications for composite materials. They exhibit superior thermal stability, minimal mechanical degradation, and excellent chemical resistance. They are available in various types including epoxy, polyethersulfone, silicone, polyutherane, acrylic, polyester, alkyd, and phenolic. These resins are used as primarily used as adhesives and sealants, composites, and paints and coatings.
The research report is an outcome of an in-depth analysis of the various important parameters of the global high temperature resin market including its dynamics and region-wise outlook. The data presented in the report has been derived from various paid and unpaid sources including white papers, press releases, journals, presentations, and directories. The report offers both qualitative and quantitative insights into the competitive landscape of the market. It meticulously studies the business strategies and latest developments of the key players in the market. It performs SWOT analysis that reveals the potential growth trajectory of each prominent player in the market. There is a separate section of recommendations for both new and existing players in the global high temperature resin market.
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Global High Temperature Resin Market: Drivers and Restraints
The growth of the global high temperature resins market is receiving a significant boost from the upswing in the consumption of high temperature composites in the railway, defense, and aerospace applications. The exposure of most of the structural components of aircraft to harsh environment such as high velocity and extreme heat creates a dire need for materials with excellent stability. Additionally, the increasing emphasis on fuel efficiency is fuelling the use of advanced materials including composites. Moreover, high temperature resins are being increasingly adopted as an alternative to mechanical fasteners, thereby providing a fillip to the growth of the market.
On the other hand, the high cost of these resins is limiting their widespread adoption across different end-user industries. Furthermore, the increasing stringency of regulations set by several governments pertaining to the use of hazardous chemicals is hindering the growth of the market. However, the future of the market looks bright with the anticipated upsurge in the demand from the electronics industry for newer applications.
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Global High Temperature Resin Market: Geographical Segmentation
The key regional markets covered in the report are North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific will be a prominent market throughout the forecast period. The growth of the region is largely supplemented by emerging economies such as India and China. The rapid urbanization and industrialization along with the robust growth of end-user industries such as electronics and aerospace in these countries are contributing to the growth of the region.
North America is also expected to account for a large share in the market owing to the presence of a large number of aerospace OEMs and tier players. The presence of advanced aviation and automotive sector in the U.S. is augmenting the growth of the region.
Global High Temperature Resin Market: Competitive Landscape
Prominent players in the global high temperature resins market are strategically shifting their research and development centers and manufacturing units to developing nations owing to tremendous growth opportunities in such countries. Several players are adopting technological advancements and product portfolio diversification as their key growth strategies to strengthen their positions in the market. Some of the key players are E. I. Du Pont de Nemours and Company, Mitsui Chemicals Inc., Henkel AG & Co., KGaA, BASF SE, Dow Corning Corporation, Royal Tencate N.V., and Solvay S.A.