logo
logo
Sign in

Cyanate Ester Resins Market to Grow Substantially with Increasing Application in Aerospace Industry

avatar
Alex Huge
Cyanate Ester Resins Market to Grow Substantially with Increasing Application in Aerospace Industry

Cyanate ester resins are thermosetting resins that offer excellent mechanical and electrical properties even under extreme environmental conditions like high temperature and pressure. They are predominantly used in the aerospace industry for manufacturing parts that require high heat resistance like jet engine components. These resins provide strength to weight ratio, dielectric properties and dimensional stability to parts where sustained high performance is critical.

The global cyanate ester resins market is estimated to be valued at US$ 211.8 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

One of the key drivers for the cyanate ester resins market growth is the rising use of these resins in aerospace industry. Aerospace industry requires components that can withstand high temperatures of up to 250 degree Celsius for a prolonged period. Cyanate ester resins fulfill this criteria and hence finds increasing applications in manufacturing parts for jet engine, airframe, radomes and missile components. They help reduce the total weight of the aircraft while providing high mechanical strength. Growing aerospace manufacturing globally is thereby fueling the demand for cyanate ester resins.

With increased use in aerospace, electronic and defense industries that necessitate materials stable at high temperature for longer duration, the demand for cyanate ester resins is projected to grow substantially over the forecast period. The unique properties of cyanate ester resins make them suitable for applications in harsh and extreme environmental conditions. Continuous product development to fulfil industry-specific requirements will further support the cyanate ester resins market growth in coming years.

SWOT Analysis

Strength: Cyanate ester resins offer high temperature resistance compared to conventional polymers like epoxies. Their excellent chemical stability and dimensional stability also make them suitable for applications requiring high strength and durability. These resins have very low moisture absorption which helps protect electronics from moisture damage.

Weakness: Cyanate ester resins have a higher cost than common thermosetting resins like epoxy and bismaleimide resins. They also have a limited shelf life as the reactions leading to polymerization can slowly take place over time in the monomer form if not stored properly.

Opportunity: Growth of end-use industries like aerospace, electronics, and defense is driving demand for high-performance thermosetting resins. Cyanate ester resins are increasingly preferred over other resins for applications needing to withstand harsh operating conditions. The development of new application areas for these resins can further boost the market.

Threats: Stringent environmental regulations associated with VOC emissions during resin processing poses challenges. Substitutes like polyetheretherketone (PEEK) resins also compete with cyanate esters in high-end applications. Volatility in raw material prices can increase production costs.

Key Takeaways

The global cyanate ester resins market is estimated to be valued at US$ 211.8 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

The global cyanate ester resins market is expected to witness high growth over the forecast period. The aerospace industry dominates demand currently due to requirements of high thermal stability, toughness and fire retardancy in aircraft components. The Asia Pacific region is growing the fastest with increasing use of cyanate ester composites in the aviation, electronics and defense sectors, especially in China and India.

Key players operating in the Cyanate Ester Resins market are Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Bioporto Diagnostics A/S, Astute Medical, Inc., Randox Laboratories, Sphingo Tec GmbH, Siemens Healthineers AG, Eli Lilly and Company, and Novartis AG. The increasing R&D activity and new product launches by these players is anticipated to boost the adoption of cyanate ester resins. Several companies are also exploring applications of cyanate esters in 3D-printing of high-performance composites.

Get more insights on this topic: https://www.trendingwebwire.com/cyanate-ester-resins-market-size-and-outlook-2023-2030/

collect
0
avatar
Alex Huge
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more