High-Temperature Composite Resins Market Reach US$ 168.3 million in 2023

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The High-Temperature Composite Resins Market: HighlightsResins used for composite applications, which can withstand extreme heat and temperature environments, are considered as high-temperature composite resins. High-temperature resins have a long history in the composites industry with usage in military and commercial aircraft engines. Nowadays, composite stakeholders are betting on these resin technologies in other applications including airframe and other hot sections.

The global high-temperature composite resins market is projected to grow at a healthy rate over the next five years to reach US$ 168.3 million in 2023. Increasing penetration of composites in aerospace and automotive industries coupled with a greater demand for high-temperature composites, increasing production rates of high-temperature composite rich F-35 aircraft, and superior performance benefits of high-temperature resins are the key factors proliferating the growth of the market.High-temperature resin excels the performance of composite parts and enhances parts’ ability to withstand extreme heat and harsh environmental conditions. Also, the resin performs better under fatigue compared to more brittle ceramics and are lighter than metals; therefore, manufacturers have started adopting high-temperature resins instead of using ceramics and exotic metals. The aircraft engine is one of the biggest application areas of high-temperature composite resins as it is prone to extreme temperature and heat environments.Newer jet engines and 5th generation fighter aircraft have pushed service temperature into the range of 600°F to 1000°F (316°C to 538°C), along with an increasing demand for composite materials in order to achieve excellent strength-to-weight ratio. Lockheed Martin’s F-35 is among the best-selling fifth-generation aircraft, which has incorporated high-temperature composite resins. About 35% of the aircraft is made of composites and approximately 50% of which is high-temperature composites.

The High-Temperature Composite Resins Market - Insights by Resin TypeBased on the resin type, the high-temperature composite resins market is segmented as BMI, Cyanate Ester, Polyimide, Thermoplastics, and Others. BMI resin is likely to remain the most dominant high-temperature resin type in terms of volume over the next five years. It is preferably used in military aircraft engines as well as airframe applications, nacelles of business jet engines, tooling prepreg, and hot-air ducts. However, polyimide resin is likely to remain the largest resin type in terms of value during the forecast period. Polyimide composite parts 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.

The High-Temperature Composite Resins Market - Insights by End- Use- Indusrty Type The global high-temperature composite resins market is segmented based on the end-use industry type as Aerospace & Defense, Transportation, and Others. Aerospace & defense is likely to remain the most dominant segment during the forecast period. Increasing production rate of high-temperature composite rich fighter aircraft F-35 (Joint Strike Fighter) is likely to give an impetus to the demand for high-temperature composites in the industry. Lockheed Martin announced it has increased the deliveries of F-35 by 40% in 2017 than the previous year. The company is likely to further increase its annual deliveries from 66 aircraft in 2017 to an expected delivery of 160 aircraft in 2023. Another key application area of high-temperature composite resin is tooling prepreg, where BMI resin is gaining traction.

The High-Temperature Composite Resins Market - Insights by Manufacturing Type Based on the manufacturing process type, the high-temperature composite resins market is segmented as Prepreg Layup, RTM, and Others. Prepreg layup is expected to remain the most dominant process for manufacturing composite parts made using high-temperature resins. It is the most widely preferred process for manufacturing of critical parts in the aerospace & defense industry, where high-temperature resin systems are used. Prepreg layup offers various advantages, such as consistent material properties, high fiber volume, flexibility in fiber orientation, low-void content, and easy to operate on complicated shapes.

The High-Temperature Composite Resins Market - Insights by RegionBased on regions, North America is projected to remain the largest market during the forecast period, driven by the world’s leading aircraft OEMs, aeroengine manufacturers, tier players, and material suppliers. The USA is the growth engine of the region’s market. Lockheed Martin has opened a new manufacturing facility to produce its high-temperature composite resin rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a total un-filled order of more than 2,691 F-35 aircraft from 12 countries out of which the USA’s inventory objective is 2,456 F-35 aircraft.Europe is projected to remain the second largest market for high-temperature composite resins during the forecast period. 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.The supply chain of this market comprises raw material suppliers, high-temperature resin manufacturers, prepreggers & compounders, tier players, OEMs, and airliners. The key high-temperature composite resin manufacturers include Solvay S.A., TenCate Advanced Composites, Lonza Group, Hexcel Corporation, and Renegade Materials Corporation. The development of low-cost high-temperature composite resins with an ease of manufacturing processes; reduced operational cost; and formation of strategic alliances are the key strategies adopted by the players to gain a competitive edge in the market.Report link- https://www.stratviewresearch.com/186/high-temperature-composite-resin-market.htmlFor more information, contactStratview ResearchEmail: sales@stratviewresearch.comDirect: +1-313-307-4176