Lucintel Forecasts High Temperature Composite Resin Market to Reach $1.1 Billion by 2028

According to the recent study the high temperature composite resin market is projected to reach an estimated $1.1 billion by 2028 from $0.8 billion in 2022, at a CAGR of 5.5% from 2022 to 2028. Growth in this market is primarily driven by increasing demand for thermally stable materials in different end use industries, which requires parts that are lightweight and offer high heat resistance.

Browse 134 figures/charts and 97 tables in this 211-page report to understand trends, opportunities and forecast in high temperature composite resin market by end use (aerospace & defense, pipe & tank, electrical/electronics, and others), resin (epoxy, vinyl ester, phenolic, BMI, cyanate ester, PEEK, others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Pipe and tank market is expected to remain the largest segment during the forecast period.”

Based on end use, the high temperature composite resin market is segmented into aerospace & defense, pipe & tank, electrical/electronics, and others. Lucintel forecasts that pipe and tank will remain the largest end use segment over the forecast period.  Aerospace and defense and is expected to witness the highest growth due to its high mechanical properties such as. reduced vehicle weight translates into better fuel economy lower emissions, and reduce weight by as much as 35% as compared to steel in many applications.

“Within the high temperature composite resin market, the epoxy segment is expected to remain the largest resins.”

Based on resins the epoxy segment is expected to witness the highest growth over the forecast period due to its wide application area in aerospace & defense and pipe and tank.

“Asia pacific will dominate the high temperature composite resin market in near future.”

Asia Pacific is expected to remain the largest region over the forecast period due to due to increasing demand and adoption of composite materials in various commercial and military aircraft.

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Major players of high temperature composite resin market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Solvay Group, Hexion Inc., Toray Advance Composites, Lonza Group AG, Huntsman Corporation, Polynt-Reichhold, Ashland Inc, AOC, Swancor Ind. Co Ltd are among the major high temperature composite resin providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/high-temperature-composite-resin-market.aspx or helpdesk@lucintel.com

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