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    High Temperature Composite Resin Market

    High Temperature Composite Resin Market
    Report code - SRAM129 Published On : Jul,2019 No. of Pages: 228

    High-Temperature Composite Resins Market by Resin Type (BM See more...

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    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high-temperature composite resins market realities and future market possibilities for the forecast period of 2019 to 2024. After conducting a series of comprehensive reports on aerospace prepreg, thermoplastic prepregs, high-temperature prepregs, out-of-autoclave (OoA) prepregs, and BMI prepreg, we have further expanded our portfolio with first of its kind study on the high-temperature composite resins market in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process. 

    The High-Temperature Composite Resins Market: Highlights

    Resins used in composite applications which are 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 the usage in military and commercial aircraft engines. Nowadays, the composite stakeholders are betting on these resin technologies in other sections 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$ 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.

    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 than more brittle ceramics and are lighter than metals; therefore, the manufacturers have started adopting high-temperature resins instead of using ceramics and exotic metals. An 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 5th 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.

    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.

    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.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 700 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We have conducted 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This 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 into 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:

    • 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, New product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    The global high-temperature composite resin market is segmented into the following categories. 

    High-Temperature Composite Resin Market, By Resin Type

    • BMI Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Cyanate Ester Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyimide Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • High-Temperature Thermoplastic Resins (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    High-Temperature Composite Resin Market, By End-Use Industry Type

    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    High-Temperature Composite Resin Market, By Composite Manufacturing Process Type

    • Prepreg Layup (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • RTM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    High-Temperature Composite Resin Market, By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: The UK, Germany, France, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: The Middle East, Latin America, and Others)

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the resin type by end-use industry

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com


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