The Asia-Pacific high-temperature composite resin market is anticipated to grow at a CAGR of 8.8% during the forecast period (2019-2025). The Asia-Pacific has experienced a rapid pace of growth predominantly dominated by countries such as China, Japan, South Korea, and India. The growth of the region is attributed to factors such as growth in the economy, developing aerospace manufacturing facilities, high demand for lightweight and fuel-efficient aircraft, and increasing demand for non-renewable sources of energy.
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Furthermore, China and Japan’s increasing engagement in aerospace manufacturing will drive the demand for composite resins with various properties such as high strength & stiffness, good aesthetics, lightweight as it will aid in improving the fuel economy of the aircraft, and also offer resistance to corrosion, heat, & temperature. This in turn is expected to significantly fuel the growth of the market.
Moreover, composite resins have a valuable application in military aircraft. Therefore, the country’s increasing investments to upgrade and widen its defense sector will also aid in the growth of the market. For instance, high-temperature composite resin technology has been used by India in the production of the airframe structure of Light Combat Aircraft (LCA) a fighter aircraft for the Indian Army. The utilization of composites in the LCA resulted in a 40% reduction in the total number of parts compared to using a metallic frame.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered-
o By Type
o By Manufacturing Process
o By End-User
- Competitive Landscape- Evonik Industries AG, Mitsui Chemicals, Inc., Shikoku Chemicals Corp., Dupont De Nemours, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific High-Temperature Composite Resin Market Report Segment
By Type
- Epoxy
- Phenolic
- Polyimide
- Bismaleimides (BMI)
- Others
By Manufacturing Process
- Layup
- Injection Molding
- Pultrusion Molding
- Filament Winding
- Others
By End-User
- Aerospace and Defense
- Transportation
- Electrical & Electronics
- Others
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
