Global High Temperature Composite Resin Market Is Expected to Reach USD 1,488.9 Million In 2026

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The global high temperature composite resin market was valued at USD 734.4 million in 2018 and is expected to reach USD 1,488.9 million in 2026, growing at a CAGR of 9.2% during the forecast period.

High temperature composite resin is manufactured from thermosetting polymer materials. These materials offer outstanding mechanical strength and wear resistance up to 600°F / 315°C. It offers convenient, lightweight and durable solutions for automotive, defense and aerospace, electrical & electronics, building & construction, healthcare, and oil & gas industries. They are available in liquid, solid, solutions, blends, and multifunctional forms.
The growth of the high temperature composite resin market is primarily driven by increasing demand for lightweight polymer materials in end-use industries such as automotive and transportation, aerospace and defense, and electrical and electronics, efficient thermal performance of high temperature composite resins, and growing demand for high temperature thermoplastic resin.

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Moreover, increasing demand from developed regions to meet stringent regulations and increase in research and development activities to reduce the cost of high temperature composite resins are expected to create opportunities for the manufacturers in the global market over the forecast period.

However, stringent regulations regarding recycling, volatile prices of raw materials, and operating and processing issues are expected to hamper the growth of the global high temperature composite resin market in the coming years. The phenolic segment expected to dominate the market throughout the forecast period Based on resin type, the global high temperature composite resin market has been segmented into phenolic, epoxy, thermoplastic, polyimide, benzoxazine, cyanate ester, and others.

The phenolic composite resin segment accounted for approximately 24% of the share in the global high temperature composite resin market in 2018. While Polyimide accounted highest CAGR of around 11% in the global high temperature composite resin market during the forecast period. Polyimide is widely adopted for the various applications owing it 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. These benefits are expected to enhance the demand and sales for Polyimide across the developed and developing countries in the global market.

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Based on manufacturing process, the Layup segment is expected to grow at a CAGR of around 11.5% throughout the forecast period Based on the manufacturing process, the market has been segmented into Layup, Filament Winding, Injection Molding, Pultrusion, Compression Molding, and others. The Layup manufacturing process segment accounts of the largest share in the market and are expected to grow at a CAGR of around 11.5% during the forecast period. The major factors that are driving the growth of this segment are the leading manufacturing process for high temperature composite resins in terms of value, owing to the developed aerospace & defense industry and recovery of the marine industry globally.

This process is mostly used for developing lightly loaded structural panels and simple enclosures owing to it provides an orientation of fibers that can be controlled as needed so that they can absorb maximum stresses to which they are subjected. Based on end-use industry, the aerospace & defense segment is expected to dominate during the forecast period Based on end-use industry, the market has been segmented into aerospace & defense, transportation, electrical & electronics, and others. The aerospace & defense segment accounts of the largest share in the market and held for more than 42% of the total market in 2018.

The major factors that are driving the growth of this segment are increased use of high temperature composite components in air craft parts such as missiles, satellite, and other structures, interiors, engine parts. The use of high temperature composite resin in interior components of aircraft leads to the production of lightweight aircraft with improved engine efficiency, reduction in CO2 emissions, and superior performance. The manufacturers such as Huntsman International, Hexion, Hexcel Corporation, Royal TenCate, Sumitomo Bakelite, and Arkema are the mainly investing in the development of high-temperature composite resin for aerospace & defense application, which expected the lead the market in the coming years.

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North America to dominate the high temperature composite resin market throughout the forecast period North America accounted for nearly 37% share of the global high temperature composite resin market in 2018 and is expected to dominate the market throughout the forecast period. Stringent safety regulations in this region and presence of the largest aircraft manufacturers Boeing and Lockheed Martin are the major driving factor for the region in the global market. Europe is expected to hold the highest CAGR in the global market during the forecast period. The manufacturers are investing in European countries to meet the demand for high temperature composite resin.

The Dassault Aviation, BAE Systems, and Airbus Group are some of the key OEMs, which are driving the demand for high-temperature composite resins in the European market.Company Profiles and Competitive Intelligence:The major players operating in the global high temperature composite resin market are UBE Industries, Ltd (Japan), Sumitomo Bakelite (Japan), DIC Corporation (Japan), Royal TenCate (Netherlands), Hexion (US), Huntsman International (US), Arkema (France), Lonza AG (Germany), Nexam Chemical Holding AB (Sweden), Hexcel Corporation (US) among others.

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