Views: 3 Author: Site Editor Publish Time: 2021-09-10 Origin: Site
According to the "High Temperature Composite Resin Market Report: Trends, Forecast and Competitive Analysis" released by Lucintel, it is estimated that the global market for high-temperature composite resin systems for composite materials can reach US$1 billion in 2025, with a compound annual growth rate from 2020 to 2025. The rate is 1%~3%.
Due to the impact of the COVID-19 pandemic, the global economic recession will be obvious in 2020. Therefore, the global high temperature market for composite materials has declined, but the market will recover in 2021. The main driving factor is the global increase in high temperature resistant composite materials. The demand continues to grow. At present, the main target markets of high-temperature resin materials include aerospace and defense, pipelines and oil tanks, and electrical and electronic industries.
In terms of market value and scale, epoxy resin system is still the largest market segment in the field of high-temperature resins. At present, epoxy resins are widely used in aerospace, defense, pipelines and other fields. In addition, double horse resin, cyanic acid Esters, phenolic resins, etc. will achieve steady growth during the forecast period; however, during the forecast period, the PEEK resin market is expected to grow at the highest rate, mainly due to the growing global demand for thermoplastic composite materials.
In terms of specific application areas, pipelines and storage tanks will remain the largest end-use industries in the high-temperature resin market. Due to the growing demand for high-performance and heat-resistant materials, other applications including transportation and industry will achieve the highest growth during the forecast period. Due to strong demand from pipelines, storage tanks, and the aerospace/defense industry, North America will remain the largest region.
During the forecast period, high-temperature resin systems will also face certain challenges. The current emerging trends for the main challenges lie in two factors. One is the development of resin systems with low volatile organic compounds (VOC), and the other is thermoplasticity. Resin materials are getting more and more attention.
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