Global High Temperature Composite Resin Market is valued at approximately USD 1.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.8% over the forecast period 2023-2030. The high-temperature composite resin refers to composite materials that can withstand high temperatures, typically above 150°C. These composite resins are used in various industries, including aerospace, automotive, defense, and electronics, where high-temperature stability and durability are critical factors. The high-temperature composite resin market is driven by the increasing demand for lightweight and high-strength materials in various end-use industries. The aerospace industry, in particular, is a significant driver of the market, with the increasing use of composite materials in aircraft components such as wings, fuselage, and interiors.
The global demand for sophisticated defense equipment, including hypersonic missiles, fighter aircraft, unmanned aerial vehicles, and communication and spy satellites, is on the rise due to geopolitical tensions in regions such as the Middle East and the South China Sea. As a result, the need for high-temperature composite resin is projected to increase since it is used in various defense equipment components such as fighter jet engines, external bodies, nozzles, air defense systems, blades & propellers, leading edges on hypersonic missiles, and fire-resistant material for submarine propulsion compartments.
High-temperature composite resins can withstand temperatures of up to 1600 degrees Fahrenheit, making them a preferred choice over metal-reinforced resins as they are lighter and perform better under fatigue. Polyimide resin, which has good thermal-oxidative stability, is a common choice for aircraft and vehicle interiors due to its strong resistance to fire, smoke, and high temperatures. Further, High processing and manufacturing cost to restrict the market growth. Moreover, Increasing use of composite resins in the growing aerospace industry act as an opportunity for global high temperature composite market.
The key regions considered for the Global High Temperature Composite Resin Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The high-temperature composite resin market is growing globally, with Asia Pacific expected to witness the fastest growth during the forecast period due to increasing demand from emerging economies like China and India. The presence of a large number of aircraft and automotive manufacturing companies in the region is also driving market growth.
North America and Europe are also significant markets for high-temperature composite resin due to the presence of major defense equipment manufacturers in the regions. The demand for high-temperature composite resin is also increasing in the Middle East and Africa region due to the rising demand for defense equipment. Latin America is expected to witness steady growth in the high-temperature composite resin market during the forecast period. The region’s growing automotive and aerospace industries are driving the demand for high-temperature composite resin. However, the market growth is restrained due to the region’s economic instability and political uncertainty.
Major market players included in this report are:
Toray Industries Inc.
Mitsubishi Chemical Holdings Corporation
SGL Carbon SE
Recent Developments in the Market:
Ø In 2020, Henkel and Carbon Revolution announced a partnership to develop advanced composite wheel technologies for high-performance cars using Henkel’s Loctite MAX 2 polyurethane composite matrix resin.
Ø In 2020, Mitsubishi Chemical Advanced Materials launched a new line of high-temperature thermoplastics called “Duratron T5530 PAI,” which is designed to meet the demanding thermal, mechanical, and chemical requirements of the aerospace industry.
Ø In 2021, SGL Carbon announced a partnership with Airbus to develop new composite materials and processes for high-temperature applications in the aerospace industry. The partnership aims to accelerate the development of new lightweight and cost-effective solutions for aircraft components.
Global High Temperature Composite Resin Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Aerospace And Defense
Electrical And Electronics
Middle East & Africa
Rest of Middle East & Africa