The cyanate resin market is expected to reach USD 419.85 million by 2032, says Global Market Insights Inc.

The cyanate ester resin industry is expected to grow at a CAGR of 7.9% during 2024-2032, driven by high-performance applications.

Selbyville, Delaware, Sept. 11, 2024 (GLOBE NEWSWIRE) — The cyanate ester resin market is expected to exceed USD 419.85 million by 2032, according to forecasts last examination by Global Market Insights Inc.

Innovations in product development and their increasing use in composites will drive industry growth from 2024 to 2032. Continuous advances in resin formulations are improving performance characteristics such as thermal stability, dielectric properties, and flame resistance, making them suitable for demanding applications. As industries such as aerospace, defense, and automotive increasingly adopt composite materials for their higher strength and lightweight properties, the demand for high-performance cyanate ester resins will increase significantly, driving market expansion.

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For example, in January 2024, Arxada AG introduced its Primaset HTM-100 and HC thermoset resins, highlighting their high-temperature, FST and dielectric properties, ideal for composites in commercial, defense, space and radar applications. By highlighting the high-temperature, FST and dielectric properties of these resins, Arxada AG highlights the advanced capabilities and growing demand for cyanate ester resins in critical applications such as the aerospace, defense and space industries. This development indicates increased innovation and potential growth in the market, as these resins are essential for high-performance composites in demanding environments.

Novolac cyanides for gain traction

The cyanate ester resin market in the novolac cyanate segment is expected to capture a significant market share during 2024-2032, which is attributed to its excellent thermal stability, low moisture absorption, and excellent dielectric properties, making it ideal for high-performance applications. These resins are increasingly preferred in the aerospace, defense, and electronics industries due to their ability to withstand extreme conditions. The increasing demand for lightweight, high-strength materials in these sectors is expected to drive commendable growth in the novolac cyanate segment, solidifying its dominance in the market.

Adhesives will continue to be a significant application segment

The market size of cyanate ester resins in the adhesives segment is expected to grow significantly by 2032 due to the increasing demand for high-performance bonding solutions in the aerospace, electronics and automotive industries. Cyanate ester adhesives offer exceptional thermal stability, low outgassing and high strength, making them ideal for critical applications requiring durable bonds under extreme conditions. The growing focus on lightweight materials and advanced composites is further driving the adoption of cyanate ester adhesives, strengthening their dominant position in the market.

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Europe will gain a significant share of revenues

The European cyanate ester resin market is expected to grow at an impressive CAGR from 2024 to 2032, driven by the region’s strong aerospace and defense industry that requires high-performance materials with excellent thermal stability and mechanical strength. Moreover, Europe’s strong focus on R&D of advanced composites, coupled with increasing investments in the electronics and automotive sectors, is further driving the adoption of cyanate ester resins. The region’s commitment to innovation and sustainability makes it a key contributor to the growth of the global market.

Cyanate ester resins Market players

Companies operating on the market include Adeka, Isola Group, Chongqing Guijie Technology, Gurit, Hexcel, Jiangdu Maida Group, Carbon Fiber Technology, Cytec, Hengyu New Material and Huntsman.

The companies are increasing their share through strategic initiatives such as mergers and acquisitions, product innovations and partnerships. They are investing heavily in research and development to introduce advanced cyanate ester resins with improved performance properties, meeting the growing demand in the aerospace, defense and electronics sectors. Moreover, these companies are focusing on expanding their global reach by setting up manufacturing plants in emerging markets, thereby increasing their competitive advantage and strengthening their position in the market.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and consulting services, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data specifically designed and presented to support strategic decision-making. These comprehensive reports are designed using a proprietary research methodology and are available for key industries such as Chemicals, Advanced Materials, Technology, Renewable Energy, and Biotechnology.

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