Chemicals Industry Today
The Market of High-Temperature Composite Resins to grow beyond US$ US$ 180.5 million by 2024
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high-temperature composite resins market realities and future market possibilities for the forecast period of 2019 to 2024.
Published 30 July 2019
The new report of Stratview Research analyses the High-Temperature Composite Resins Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/186/high-temperature-composite-resin-market.html
The High-Temperature Composite Resins Market: Highlights
Resins used in composite applications which are 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 the usage in military and commercial aircraft engines. Nowadays, the composite stakeholders are betting on these resin technologies in other sections including airframe and other hot sections.
The Growth Prognosis & its Drivers
The global high-temperature composite resins market is projected to grow at a healthy rate over the next five years to reach US$ 180.5 million in 2024. Increasing penetration of composites in the 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.
Market Segments
The 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 rates of high-temperature composite-rich fighter aircraft F-35 (Joint Strike Fighter) is likely to create an impetus in the demand for high-temperature composites in the industry. Lockheed Martin announced it has experienced a 40% increase in deliveries of F-35 aircraft in 2018 over the previous year. The company is likely to further increase its annual deliveries from 91 aircraft in 2018 to an expected delivery of 160 aircraft in 2023. Another key application area of high-temperature composite resin is the tooling prepreg where BMI is gaining traction.
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 dominant process for manufacturing composite parts made using high-temperature composite resins. The process 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 an easy to operate on complicated shapes.
Based on the 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-rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a current US government’s inventory objective of 2,456 F-35 aircraft for the U.S. Air Force, U.S. Marine Corps, and U.S. Navy; commitments from our eight international partners, and three international customers; as well as expressions of interest from other countries.
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 in the region, which are driving the demand for high-temperature composite resins in the European market.
Market Players
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., Toray Advanced Composites (TenCate Advanced Composites), Lonza Group, Hexcel Corporation, and Renegade Materials Corporation (a part of Teijin Ltd.). 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.
Comprehensive Market Coverage
Click here for other reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewreseasrch.com/market-reports/Advanced-Materials.html
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/186/high-temperature-composite-resin-market.html
The High-Temperature Composite Resins Market: Highlights
Resins used in composite applications which are 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 the usage in military and commercial aircraft engines. Nowadays, the composite stakeholders are betting on these resin technologies in other sections including airframe and other hot sections.
The Growth Prognosis & its Drivers
The global high-temperature composite resins market is projected to grow at a healthy rate over the next five years to reach US$ 180.5 million in 2024. Increasing penetration of composites in the 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.
Market Segments
The 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 rates of high-temperature composite-rich fighter aircraft F-35 (Joint Strike Fighter) is likely to create an impetus in the demand for high-temperature composites in the industry. Lockheed Martin announced it has experienced a 40% increase in deliveries of F-35 aircraft in 2018 over the previous year. The company is likely to further increase its annual deliveries from 91 aircraft in 2018 to an expected delivery of 160 aircraft in 2023. Another key application area of high-temperature composite resin is the tooling prepreg where BMI is gaining traction.
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 dominant process for manufacturing composite parts made using high-temperature composite resins. The process 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 an easy to operate on complicated shapes.
Based on the 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-rich F-35 aircraft in Pinellas Park, Florida, the USA, to raise the existing production rate. There is a current US government’s inventory objective of 2,456 F-35 aircraft for the U.S. Air Force, U.S. Marine Corps, and U.S. Navy; commitments from our eight international partners, and three international customers; as well as expressions of interest from other countries.
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 in the region, which are driving the demand for high-temperature composite resins in the European market.
Market Players
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., Toray Advanced Composites (TenCate Advanced Composites), Lonza Group, Hexcel Corporation, and Renegade Materials Corporation (a part of Teijin Ltd.). 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.
Comprehensive Market Coverage
Click here for other reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewreseasrch.com/market-reports/Advanced-Materials.html
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