The worldwide Cyanate Ester Resins Market is predicted to grow from USD 195.6 million in 2021 to USD 338.4 million by 2026, with a CAGR of 11.2% between 2021 and 2026.
The growing call for resins for the aerospace and defense industry is a major market driver for cyanate ester resins. This growing call is due to its use in various structural thermosetting composite parts employed in Boing and Airbus aircraft and the escalating call for fuel-efficient vehicles. Cyanate ester resins provide exceptional hardness and strength with enhanced electrical features. Cyanate ester resins provide high performance even at high temperatures. Its performance is often compared to that of bismaleimide and polyimide resins. Cyanate ester resins are employed in a wide range of applications, including aircraft, spacecraft, antennas, missiles, microwave products, and microelectronics. Cyanate esters are formed by reacting hydrocyanic acid and bisphenol esters. This reaction forms cyclotrimerization to produce more triazine rings during a second cure. Cyanate ester resins are preferred because they harden more easily during a reaction than other epoxies. Several characteristics of cyanate ester resins, such as heat resistance, high impact resistance, hot moisture property, and good dielectric properties, are preserved in composites made from cyanate ester resins.
Worldwide, the worldwide market for cyanate ester resins is predicted to register robust expansion on the predicted path. North America is predicted to have a dominant share of the worldwide market for cyanate ester resins. Escalating R&D investments in the aerospace and defense industry to develop various innovative and advanced materials to reduce overall weight and increase aircraft and spacecraft's thermal stability.
In 2020, Formlabs introduced a family of hard resins and introduced two new resins. One of its greatest strengths is stereolithography (SLA) 3D printing ability to support a wide range of materials. As Formlabs adds more and more resins to our library, the number of applications and use cases increases.
Automobile production has escalated 15% since 2010. The focus on reducing vehicle weight to reduce CO2 emissions has been a key trend in the industry. Automakers and OEMs are constantly looking for innovative materials to reduce vehicle weight and meet fuel efficiency and carbon emissions targets by implementing strict environmental standards and government regulations. Worldwide light vehicle production escalated to 50 million in 2015, from around 35 million in 2010, significantly driving the development and consumption of advanced materials such as composites to partially replace traditional materials such as steel. Cyanate ester resins are thermosetting resins that are employed to make composites. These compounds offer several structural and weight advantages over traditional steel and injection molded automotive parts. They are employed as raw materials to manufacture various structural components, interior, exterior, and other automotive components, aircraft components, etc. Therefore, they are preferred by component manufacturers. Therefore, the escalating call for composite materials in various end-use industries is predicted to drive the market for cyanate ester resins.
Problems relating to recyclability, moldability, and testing of cyanate ester resins and the high-making cost are restraining the call in mass production uses like in automotive and wind energy businesses.
The growing call for high-temperature resins from the aerospace and defense industry is a major factor driving the cyanate ester resin market expansion. This can be attributed to using these resins in various pieces of structural thermosetting composite material. Cyanate esters have the property of resisting high temperatures. The resin type is also employed in the wings of military aircraft. The escalating call for cyanate ester resins from composite materials for the manufacture of parts and components of aircraft, missiles, spacecraft, microelectronics, antennas, among others, has dramatically driven the expansion of the market around the world.
High R&D costs and reduced curing time when making composites are some of the market challenges.
Market Size Available
2020 – 2025
2021 - 2026
By Product, Type, Consumption, Distribution Channel and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
NOVOSET, ARGOSY INTERNATIONAL,Composite Technology Development, Inc, Associate industries Inc., DeltaWing Manufacturing, Royal Adhesives & Sealants, InnoMat GmbH,Tango Engineering, Solvay, NanoSperse, Moldex Composites Pvt Ltd, JFC Technologies LLC
Cyanate Ester Resins Market - By End-use
Based on the end-use industry, the aerospace and defense segment is predicted to experience the highest CAGR expansion between 2021 and 2026. Cyanate ester resins are employed as a functional material in random applications in the aerospace industry. They are also employed in other internal and external parts of airplanes.
Cyanate Ester Resins Market - By Application
In 2021, the composite applications segment accounted for most of the worldwide market for cyanate ester resins and is predicted to continue to dominate over the foreseen period. With the growing call for composites in various applications in the aerospace, defense, automotive, electronics, and other industries, the call for cyanate ester resins in the composites segment is likely to increase considerably in the coming years.
Cyanate Ester Resins Market - By Region
The Cyanate Ester Resins Report includes the segmentation of Regions
Middle East & Africa
North America is expected to have the highest shares of the market. Currently, the United States is the largest market for cyanate ester resins in North America and is predicted to continue to dominate through 2026. In this region, the call for cyanate ester resins is predicted to increase due to the large aerospace and defense industry's escalated use of cyanate ester resins in high-end applications and economic expansion. The use of cyanate ester resins is growing in the aerospace and defense industry because they offer more structural strength than metal alloys when employed as composites with other materials, a low dielectric constant, and are also lightweight.
The rapid expansion of defense and aerospace vessel safety in countries such as the United States and Canada is one of the main drivers of worldwide market call expansion for cyanate ester resins. North America is predicted to be the largest market for cyanate ester resins and is predicted to grow at a high CAGR, in value terms, during the foreseen period. However, APAC is predicted to be the fastest-growing market for cyanate ester resins. Rapid population expansion and escalated defense spending are driving the aerospace and defense industry in the APAC region, which is predicted to drive the market for cyanate ester resins during the period.
COVID 19 is a deadly disease that disrupted the global economy. The novel coronavirus disease has spread around 203 countries where the it is declared as a pandemic by WHO. Governments have imposed lockdown restrictions to curb the transmission of the disease. Due to these guidelines, all the companies were closed, which impacted market shares negatively. All the shares were declined during this period. However, the market shares are going to fall into the previous state as all the activities were resumed in the last months of 2020. The cyanate ester resins market shares are deemed to have significant growth opportunities in the coming years.
The major players covered in the cyanate ester resins market report are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Cyanate Ester Resins Market, By End-User
6.1.1 Aerospace & defense
6.1.2 Electrical & electronics
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Cyanate Ester Resins Market, By Application
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By End-User
7.2.3 By Application
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By End-User
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By End-User
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By End-User
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By End-User
7.6.3 By Application
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 ARGOSY INTERNATIONAL
8.3 Composite Technology Development, Inc
8.4 Associate industries Inc.
8.6 DeltaWing Manufacturing
8.7 Royal Adhesives & Sealants
8.8 InnoMat GmbH
8.9 Technology Marketing Inc.
8.10 Tango Engineering, Solvay
8.12 Moldex Composites Pvt Ltd
8.13 JFC Technologies LLC
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market