Global Cyanate Ester Resin Market was valued at US$ 195.2 Mn in 2017 and is expected to reach US$ 458.02 Mn by 2026, at a CAGR of 11.25 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding cyanate ester resin market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in cyanate ester resin market.
Cyanate ester resins offer exceptional toughness and strength with enhanced electrical properties. They also deal lower moisture absorption compared to other resins. Cyanate ester resins provide high performance even at high temperature. Their performance is compared to that of bismaleimide and polyimide resins. Cyanate ester resins are widely used in a many range of applications including aircraft, spacecraft, microelectronics, antennae, missiles, microwave products, Cyanate esters are formed through the reaction of cyanic acid and bisphenol esters. This reaction forms cyclotrimerize to produce triazine rings during a second cure.
The major driving factor of the market are increasing demand for high-temperature resins in the aerospace & defense industry and excellent mechanical and fast properties of cyanate ester resin. High manufacturing cost and prices of raw material are fluctuating, these are the key factor which hamper the growth of the Cyanate ester resins market. The future of the cyanate ester resin market looks promising with opportunities in growing demand from emerging markets.
Based on Application, Composites application segment is likely to be the fastest-growing segment of the cyanate ester resin market during the forecast period. Cyanate ester resins are compounds that are usually manufactured from cyanic acid and bisphenol A. Better dielectric properties of cyanate esters beside with high strength and ease of processing make cyanate ester resins a choice of material for the composites applications in space aircraft radomes manufacturing. Cyanate ester resins are used in composites and adhesives applications. The growth of these applications is driving the cyanate ester resin market during the forecast period.
Based on end-user industry, aerospace & defense is estimated to be the largest end-use industry of the global cyanate ester resin market. Cyanate ester resin is ahead in manufacturing composite parts for aircraft and spacecraft, due to its high-temperature resistance property. Spacecraft and missiles are the foremost users of cyanate esters in the aerospace & defense industry. The resin type is also finding practice in wings of military aircraft.
Geographically, Asia Pacific is expected to be the largest market for Cyanate Ester Resin during the forecast period, in terms of value. Presently, the US is the largest market for cyanate ester resins in North America and is expected to continue to lead till 2026. In this region, the demand for cyanate ester resins is expected to increase due to the large aerospace & defense industry, rising use of cyanate ester resins in high end applications, and economic growth. The use of cyanate ester resins is growing in the aerospace & defense end-use industry because they provide more structural strength than the metallic alloys when used as composite with other materials, low dielectric constant, and are also light in weight. Rapid growth in Aerospace & Defense boat safety in countries such as the U.S. and Canada is a leading factor driving the demand for global Cyanate Ester Resin market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Scope of Global Cyanate Ester Resin Market:
Global Cyanate Ester Resin Market, by Application:
Global Cyanate Ester Resin Market, by End user:
• Aerospace & Defense
• Electrical & electronics
Global Cyanate Ester Resin Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Cyanate Ester Resin Market:
• Cytec Solvay Group
• Tencate Advanced Composites
• Hexcel Corporation
• Toray Industries
• Kuraray Co., Ltd
• Esterline Technologies Corporation
• Quingdao Fundchem
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