The global Cyanate Ester Resins Market is estimated to be valued at US$ 211.8 Mn in 2022 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cyanate ester resins are thermosetting polymers formed by reaction of bisphenol monomers with acrylonitrile. They offer higher strength, fatigue resistance, and excellent thermal stability as compared to epoxy resins. Cyanate ester resins are increasingly being used as an alternative to epoxy in prepreg composites owing to their flame retardant and high glass transition temperature properties. They find applications in printed circuit boards, aerospace components, semiconductor packages and other industrial applications where high heat resistance is required. The need for thermosetting polymers with enhanced mechanical and thermal properties is driving the demand for cyanate ester resins across various end-use industries.
Market key trends:
One of the key trends witnessed in the cyanate ester resins market is the increasing demand from the aerospace industry for cyanate ester prepreg materials. Aircraft OEMs are focusing on developing lightweight and high performance prepreg composites to reduce aircraft weight and improve fuel efficiency. Cyanate ester resins offer over 15-20% higher glass transition temperature than epoxies which increases durability. Leading commercial aircraft makers such as Airbus and Boeing have approved several cyanate ester prepreg systems for use inengine nacelles, floor panels and other interior parts. This growing acceptance of cyanate ester prepregs in commercial aerospace is projected to support market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital investment requires to enter this market makes threat of new entrants high.
Bargaining power of buyers: Large number of existing players provides many options to buyers, increasing their bargaining power.
Bargaining power of suppliers: Due to limited substitutes, suppliers of raw materials like cyanate ester resins have high bargaining power.
Threat of new substitutes: Though technology is advancing, none have proved as effective as cyanate ester resins till now.
Competitive rivalry: Fierce competition exists between existing major players to dominate market share.
Key Takeaways
Global Cyanate Ester Resins Market Size is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing demand from aerospace and defense industries.
Regional analysis: North America dominates the global cyanate ester resins market currently and is expected to continue dominating with over 30% market share in 2023. Asia Pacific is the fastest growing region due to increasing defense expenditure in major countries like China and India.
Key players: Key players operating in the cyanate ester resins market are Huntsman, Lonza, Techia Corporation, TenCate, Cytec, Hexcel, Jiangdu Maida Group, Carbon Fibre Technology, Isola Group, Adeka, SGL Carbon, Gurit, Chongqing Guijie Technology, Shanghai Hunsman Material, Taixing Suning Chemical, Hengyu New Material, Natong Chemical, Kangda New Materials, Jiafu Technologh, Tianma Group.
Major players are focusing on geographical and capacity expansions to meet the increasing demand and strengthen their foothold in the global market. Huntsman, Cytec and Hexcel dominate the cyanate ester resins market.
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The Global Cyanate Ester Resins Market Research Report by Reports and Data provides an in-depth and extensive analysis of the overall market structure along with projected forecasts to 2027.
The Cyanate Ester Resins market report provides the readers deep insights and statistical details about the industry in terms of demand and supply, cost structure, threats and challenges, product type, key market players, technological advancements, regions, and applications.This is the most recent report, covering the current economic situation after the COVID-19 outbreak.
Current scenario of the ever-evolving business sector and present and future assessment of the effects are covered in this report.To get a free Sample Copy of the Report, please click @ https://www.reportsanddata.com/sample-enquiry-form/2038The researchers and analysts have generated and collected useful information through extensive research methodologies and tools that deliver the latest Cyanate Ester Resins market patterns and industry trends.
This report identifies the rapidly-evolving and competitive landscape of the industry as well.It also analyzes the most recent developments while estimating the growth of the key market players like Argosy International, Novoset, Tencate Advanced Composites, Hexcel Corporation, Cytec Solvay Group, Henkel, Huntsman Corporation, Lonza, Koninklijke Ten Cate BV., and MITSUBISHI GAS CHEMICAL COMPANY, INC. among others.For the purpose of this report, Reports and Data have segmented into the global Cyanate Ester Resins market on the basis of product type, application, end-use industries, and region:Product Type Outlook Bisphenol-basedNovolac-basedApplication Outlook CompositesAdhesivesOthersEnd-Use Industry Outlook Aerospace & DefenseAutomotiveElectrical & ElectronicsOthersRegional Analysis:North AmericaEurope Asia-PacificLatin AmericaMiddle East and AfricaMarket Segments: The global Cyanate Ester Resins market is bifurcated based on the types of product, application, and region.
This helps the readers identify the high-growth prospects of the global Cyanate Ester Resins market and understand how the leading segments would grow during the forecast period.To get the report at an Incredible Discount, Visit @ https://www.reportsanddata.com/discount-enquiry-form/2038What is the regional structure of the market?
The business offerings in the study show relevant and trustworthy information derived from relevant and reliable data that will help the businesses grow and have a competitive edge.Also, the Cyanate Ester Resins Industry report consists of the analysis of different products available in the global market based on production, volume, revenue, and cost and price structure.
Cyanate ester resins are an important class of thermosetting polymers with high glass-transition temperature, low outgassing, and low dielectric constant and loss.
These resins are used in a variety of applications such as printed circuit boards, radomes, structural composites for space applications, and adhesives.Huntsman, Lonza, TenCate, Cytec and Hexcel are the leading players in global market, with about 45% market shares.
Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-cyanate-ester-resin-2021-2027-677 Market Analysis and Insights: Global Cyanate Ester Resin Market In 2020, the global Cyanate Ester Resin market size was US$ 206.4 million and it is expected to reach US$ 298 million by the end of 2027, with a CAGR of 5.3% during 2021-2027.Global Cyanate Ester Resin Scope and Market SizeCyanate Ester Resin market is segmented by region, by country, company, type, application and by sales channels.
Players, stakeholders, and other participants in the global Cyanate Ester Resin market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.
Segment by Type, the Cyanate Ester Resin market is segmented into Bisphenol-Based Cyanate Ester ResinNovolac-Based Cyanate Ester ResinOthers Segment by Application, the Cyanate Ester Resin market is segmented into Aircraft and Space StructuresElectronicsOthers Regional and Country-level Analysis: North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEA Competitive Landscape and Cyanate Ester Resin Market Share AnalysisCyanate Ester Resin market competitive landscape provides details and data information by companies.
