Cyanate ester resin market is anticipated to grow at a ignificant CAGR of 11.2% during the forecast period (2024-2031). The market growth is drive by the the rising applications of cyanate ester resin. Itis a matrix within a composite framework, providing strong bonding with reinforcement fibers and transferring forces between them. It offers high thermal resistance, mechanical strength, and Cyanate ester resins are gaining popularity due to their strength-to-weight ratio, ideal for lightweight and high strength applications, and their superior electrical insulating properties. They are particularly popular in aerospace and defense industries, where weight reduction improves fuel efficiency and maneuverability. The rapid growth in electronics production also drives demand for high-performance materials like cyanate ester resins. They are also seen as a viable alternative to traditional epoxy resins in high-performance applications.
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Cyanate ester resins are increasingly being used in composites due to their superior properties over traditional resins such as epoxies. Cyanate ester resins offer high thermal and chemical resistance, high mechanical strength, and low dielectric properties. These properties make them ideal for use in a variety of composite applications, including aerospace, automotive, and electronics. For instance, in January 2024 Mitsubishi Chemical Corporation (MCC) developed a cyanate ester carbon fiber prepreg that offers high heat resistance and excellent strength. This innovative product addresses the trade-off between heat resistance and strength in conventional Carbon Fiber Reinforced Plastics (CFRPs). The prepreg, developed using a cyanate ester-based resin, can withstand temperatures up to 250°C and offer the flexibility and toughness of carbon fiber. It can also be cured in the same molds as traditional epoxy resin-based CFRP, providing better storage stability and processability. MCC plans to expand the product’s marketing scope beyond automotive and industrial applications.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Cyanate Ester Resin Market by Type
- Bisphenol- Based
- Novolac- Based
- Others (Diphenols, Multifunctional phenolics)
Global Cyanate Ester Resin Market by Application
- Composites
- Adhesives
- Coatings
- Other applications (Electrical laminates, Casting resins)
Global Cyanate Ester Resin Market by End-user
- Aerospace & Defense
- Electrical & electronics
- Automotive
- Others (Medical, Industrial Composites, and more)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Argosy International Inc.
- Arxada
- Cytec Industries Inc. (Solvay)
- Hexcel Corp.
- Mitsubishi Gas Chemical Co., Inc.
- Novoset, LLC
- Solvay
- Syensqo
- TenCate Advanced Composites (Toray PMC)
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cyanate ester resin market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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