[FURL=https://www.industryarc.com/Research/High-Temperature-Composite-Resin-Market-Research-500451?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]High-Temperature Composite Resin Market [/FURL] size is forecast to reach $10.2 billion by 2026, after growing at a CAGR of 5.1% during 2021-2026. High-Temperature Composite Resins are designed for functioning in high heat applications. Growing uses of High-Temperature resins such as phenolic, polyimide, polyurethane, and epoxy in high heat conditions across military and commercial aircraft, and the gas turbine engine industry, are driving the market. Composites used for aviation typically offer exceptional resistance to impacts, fatigue, corrosion, and broad temperature variations. Furthermore, increasing demand for lightweight Materials from the transportation sector is also contributing to the growth of the High-Temperature Composite Resin Market share.COVID-19 Impact
The unprecedented crisis brought by COVID-19 in 2020 continues to have a clear and significant impact on the worldwide workforce, industry, country, and global economy. The pandemic has hindered the supply chain, especially the supply of raw material used in producing the high-temperature composite resin.
Key Takeaways
European region is projected to witness significant growth in the market due to the growing uses of thermoplastic in the automotive and aerospace & defense industries. Whereas, Germany is expected to lead the largest share in the region throughout the forecast period.
Complexity in recycling and high production cost of high-temperature composite resin is hindering the markets growth.
The development of the aviation sector in the emerging country like China and India are providing growth opportunities to the market.
Increased use of composites as an alternative solution to metals is driving the market.
COVID-19 has hindered the market growth for High-Temperature Composite Resin Market, due to challenges faced by the aerospace & defense industry during the pandemic.
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High-Temperature Composite Resin Market Drivers
Surging Demand for Advanced Defense Equipment
Rising geopolitical tensions in Middle-East and the South China Sea is driving the demand for advanced defense equipment’s, such as a hypersonic missile, fighter jets, Unmanned Aerial Vehicles, and Communication & Spy satellites.
Excellent Properties of High Temperature Composite Resin is Driving the Market Growth
High-Temperature Composite resins have the capacity to endure intense heat of 1600 degrees and above.
High-Temperature Composite Resin Market is Hexcel Corp., Huntsman International LLC, Texas Research International, Inc., Hexion Inc., Sumitomo Bakelite Co., Ltd., DIC Corp., Lonza Group Ltd., Arkema Group, Nexam Chemical Holding AB, Saudi Basic Industries Corp., UBE Industries, Ltd.
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