Cyanate Ester Resins Market is segmented by End-Use Industry Type (Aerospace & Defense, Electrical & Electronics, and Others), by Application Type (Composites, Adhesives, and others), and by Region (North America, [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Cyanate Ester Resins Market is segmented by End-Use Industry Type (Aerospace & Defense, Electrical & Electronics, and Others), by Application Type (Composites, Adhesives, and others), and by Region ...
Cyanate ester resins are a type of thermosetting resin known for their excellent thermal stability, low moisture absorption, and high strength-to-weight ratio. They are used in advanced composites and high-performance applications, including aerospace, automotive, and electronics.
These resins are formed by the reaction of cyanate ester monomers with a hardener or catalyst, resulting in a cross-linked polymer network. They offer superior mechanical properties and chemical resistance compared to traditional resins.
Cyanate ester resins are particularly valued in environments with high thermal and electrical performance, making them ideal for demanding industrial applications.
Market Drivers
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.
Recent Developments
The supply chain of this market comprises raw material suppliers, resin manufacturers, tier players, OEMs, and end-users. 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. 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.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
End-Use Industry-Type Analysis
Aerospace & Defense, Electrical & Electronics, and Others
Aerospace and defense are anticipated to continue being the largest consumers of cyanate ester resins throughout the forecast period
Application-Type Analysis
Composites, Adhesives and others
Composites are projected to hold the largest share throughout the forecast period
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
North America is expected to remain the largest market for cyanate ester resins during the forecast period.
By End-Use Industry Type
“Aerospace and defense are anticipated to continue being the largest consumers of cyanate ester resins throughout the forecast period”.
The 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 the wings of military aircraft.
By Application Type
“Composites are projected to hold the largest share throughout the forecast period”.
The 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 succeeded in marking their presence in most 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.
Regional Analysis
“North America is expected to remain the leading market for cyanate ester resins during the forecast period”.
The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of region, 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 the 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, the 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 the 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.
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Key Players
The following are the key players in the Cyanate Ester Resins Market (arranged alphabetically)
Cytec Solvay Group
Henkel AG & Company
Hexcel Corporation
Huntsman Corporation
Lonza Group
TenCate Advanced Composites
Note: The above list does not necessarily include all the top players in the market.
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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.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Cyanate Ester Resins Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
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This report offers high-quality insights and is the outcome of a 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 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Lonza Group, Huntsman Corporation, Henkel AG & Company, Cytec Solvay Group, Hexcel Corporation, and TenCate Advanced Composites. are among the key players in the cyanate ester resins market.
