High Temperature Resin Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032
The report titled 'Global High Temperature Resin Market - Growth, Share, Opportunities, and Competitive Analysis, 2023 - 2032' offers strategic visions into the global high temperature resin market along with the market size (Revenue - US$ Bn and Volume - Kilo Ton). The said research study covers in-depth analysis of multiple market segments based on type, application and study across different topographies.
The report is also inclusive of competitive profiling of the leading high temperature resin vendors, and latest developments. High temperature resins are used to manufacture fiber reinforced materials such as glass fiber, Kevlar and carbon. They are also used in protection and insulation of printed circuit boards (PCB) and other electronic components from harsh environments. Major properties that high temperature resin possesses are chemical resistance, wide operating temperature range, low viscosity and high adhesion. High temperature resin finds wide application across aerospace, defense, automotive, electrical & electronic industries primarily to address high heat concerns.
The high temperature resin market is expected to reach US$ 4.24 Bn by 2024 expanding at a CAGR of 4.2% from 2018 to 2024.
Increasing demand for wet-lay laminating and vacuum bagging of composite parts from the end-user industries such as automotive and ship building is expected to fuel the market growth over the forecast period. Major players are making long term purchase agreements with end-use industries such as chemical and automotive, thereby fueling the growth of the market. Furthermore, research and development in high temperature resin regarding increased temperature and flame resistance is likely to boost the market during the forecast period. Swift urbanization and a surge in industrialization behavior are some of the factors that are driving the global high temperature resin market. The increasing application areas and a boost in the demand for high temperature resin from railway and defense applications are pushing the growth of this market.
The global high temperature resin market is segmented on the basis of type, application and geography. Based on the type, the market is segmented into epoxy, silicone, acrylic, polyester, polyethersulfone, alkyd, polyurethane, phenolic and polyetheramide. Among these types of high temperature resin, epoxy is expected dominate the market. This growth is due to the huge application of these type for protective coatings because of their high and excellent property, such as flexibility, high adhesion, solvent and chemical resistance, and other properties. They are broadly used in industrial applications such as chemical plants, refineries, and marine equipment, such as, merchant ships and offshore drilling platforms. On the basis of application, the global high temperature resin market is segmented into adhesives & sealants, paints & coatings, composites and others. Adhesives & sealants, composites and paints & coatings are used in various end user industry, such as marine, aerospace & defense, automotive & transportation, building & construction, industrial, electronics & electrical and few others. By geography, the market is fragmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America comprises U.S., Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe.
The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. Amongst the aforementioned regional segments in the global high temperature resin market, Asia Pacific is expected to account for largest share in the global market in 2016. Asia Pacific is followed by Europe and North America. Moreover, Asia Pacific also registered the fastest growing region in the high temperature resin market. India, China and Thailand are the major automotive producing regions, which involve high temperature resin in the manufacture of adhesives for these applications.
Some of the key players operating in the high temperature resin market with more significant product/service development include and are not limited to E.I. Dupont De Nemours and Company, Solvay S.A., BASF SE, DIC Corporation, Saudi Basic Industries Corporation (SABIC), Henkel AG & Co. KGaA, Royal Tencate N.V., Mitsui Chemicals Inc., Huntsman Corporation, Wacker Chemie AG, DOW Corning Corporation and Hexion Inc. among others.
The Global High Temperature Resin Market Is Segmented As Below:
Based On Type
- Phenolic And Polyetheramide
Basis Of Application
- North America
- Asia Pacific
- Middle East & Africa
- South America