by The global Cyanate Ester Resins Market is estimated to be valued at US$ 211.8 million in 2022 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cyanate ester resins are thermoset resins with high temperature resistance, low dielectric constant and good dimensional stability. They are used as matrix resins for composites in aerospace, defence, electronics and semiconductor industries due to their exceptional properties. These resins offers lightweight and corrosion resistance which increases the fuel efficiency and life of products.
Market key trends:
Cyanate ester resins are increasingly replacing epoxy resins in high-performance applications due to their superior properties. They can withstand higher temperatures than epoxy and maintain their dielectric properties. They also exhibit very low moisture absorption. One of the major trends in the market is the growing demand for cyanate ester resins from aerospace and defense industries. Aircraft components made from cyanate ester composites provide lightweight and heightened strength. They also offer high tolerance to extreme weather. With increasing air passenger traffic, commercial aircraft fleet, defense budgets and space exploration activities, the demand for cyanate ester resins is expected to grow substantially over the forecast period.
Segment Analysis
The global cyanate ester resins market is dominated by the electronic and electrical sub-segment, accounting for nearly 30% of the total market share in 2023. Cyanate ester resins are increasingly being used in the manufacturing of printed circuit boards (PCBs), which see application across various electronic products such as computers, telecommunications equipment, and consumer electronics. The excellent dielectric properties, high thermal resistance, and dimensional stability of cyanate ester resins make them highly suitable for use in PCBs.
Key Takeaways
The Global Cyanate Ester Resins Market Size is expected to reach US$ 311.4 million by 2030, expanding at a CAGR of 8.6% over the forecast period. Growth of the market can be attributed to increasing demand from the aerospace and defense industry.
Regional analysis: Asia Pacific dominates the global cyanate ester resins market and accounted for over 35% share of the global market in 2023. Growing aerospace and electronics industries in China and India are majorly driving the demand for cyanate ester resins in Asia Pacific. North America is another prominent region, where the market is growing at a steady pace due to high demand from aerospace industry.
Key players: Key players operating in the cyanate ester resins market are Huntsman, Lonza, Techia Corporation, TenCate, Cytec, Hexcel, Jiangdu Maida Group, Carbon Fibre Technology, Isola Group, Adeka, SGL Carbon, Gurit, Chongqing Guijie Technology, Shanghai Hunsman Material, Taixing Suning Chemical, Hengyu New Material, Natong Chemical, Kangda New Materials, Jiafu Technologh, and Tianma Group.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
