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Cyanate Ester Resins Market by End-Use Industry (Aerospace & Defense, Electrical & Electronics), Application (Composites, Adhesives), and Region (North America, Europe, APAC, MEA, and South America) - Global Forecast to 2022

May 2018 | 114 pages | ID: CD6F905922AEN
MarketsandMarkets

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“Cyanate ester resin market to grow at a CAGR of 11.7%, in terms of value (2017-2022)”

The global cyanate ester resin market is projected to grow from USD 195.2 million in 2017 to reach USD 338.8 million by 2022, at a CAGR of 11.7% between 2017 and 2022. The increasing demand for high temperature resins from the aerospace & defense industry is one of the major drivers for the cyanate ester resin market. This increasing demand is due to their use in various structural thermoset composites parts used in Boing and Airbus aircraft and the increasing demand for fuel efficient vehicles. On the other hand, issues related to recyclability, remoldability, and testing of cyanate ester resins as well as the high manufacturing cost are restraining the demand in mass production applications such as in automotive and wind energy industries. High R&D cost and reducing the curing time while composite manufacturing are some of the challenges for the market.

“Composites expected to be the largest application segment during the forecast period”

Composites is estimated to be the largest application segment in the global cyanate ester resins market during the forecast period, in terms of value and volume. In the composites application, cyanate ester resins are used to enhance the properties of composites. Composites are majorly used in aerospace & defense and automotive industries. The novel properties of cyanate ester resins are favored in specialty applications. Cyanate ester resins are in demand because of their properties such as low dielectric constant, high strength, easy processability, and durability. The growth of the aerospace & defense industry is driving the composites segment.

“North America is the largest and APAC is projected to be the fastest-growing cyanate ester resin market during the forecast period”

North America is projected to be the largest market for cyanate ester resins and is expected to grow at a high CAGR, in terms of value, during the forecast period. However, APAC is projected to be the fastest-growing cyanate ester resin market. Cyanate ester resins provide corrosion resistance, durability, good thermal insulation, and low maintenance. These properties have increased the use of cyanate ester resin in the Asia Pacific region for various applications. Rapidly increasing population and the rise in defense spending are driving the aerospace & defense industry in the APAC, which is expected boost the cyanate ester resin market during forecast period.

Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.

The break-up of primary interviews is given below:
  • By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Others – 13%
  • By Designation: C Level – 46%, Director Level – 31%, and Others – 23%
  • By Region: North America – 33%, Europe – 28%, Asia Pacific – 22%, South America – 11%, and the Middle East & Africa – 6%
The companies profiled in this market research report are Lonza (Switzerland), Huntsman (US), Cytec Solvay Group (US), Henkel (Germany), Tencate Advanced Composites (Netherlands), and others.

Research Coverage:

This research report categorizes the global cyanate ester resins market on the basis of end-use industry, application, and region. The report includes detailed information regarding major factors influencing the growth of the global cyanate ester resins market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights on business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and other recent developments associated with the market.

Reasons to Buy the Report:

The report will help market leaders/new entrants in this market in the following ways:

1. This report segments the global cyanate ester resins market comprehensively and provides the closest approximations of market sizes for the overall market and its subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain insights to enhance their position in the market. The competitive landscape section includes the new product developments and mergers & acquisitions in the cyanate ester resins market.
1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
  1.3.1 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
  2.1.1 SECONDARY DATA
    2.1.1.1 Key data from secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 Key data from primary sources
    2.1.2.2 Key industry insights
    2.1.2.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
  2.2.1 BOTTOM-UP APPROACH
  2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 HIGH GROWTH OF CYANATE ESTER RESIN MARKET DURING THE FORECAST PERIOD
4.2 CYANATE ESTER RESIN MARKET, BY REGION AND END-USE INDUSTRY
4.3 CYANATE ESTER RESIN MARKET, BY END-USE INDUSTRY AND COUNTRY
4.4 CYANATE ESTER RESIN MARKET, BY COUNTRY

5 MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS
  5.2.1 DRIVERS
    5.2.1.1 Increasing demand for high-temperature resins in the aerospace & defense industry
    5.2.1.2 Excellent mechanical and FST properties of cyanate ester resin
  5.2.2 RESTRAINTS
    5.2.2.1 High processing and manufacturing cost
    5.2.2.2 Issues related to recyclability
  5.2.3 OPPORTUNITIES
    5.2.3.1 Potential opportunities in new applications
    5.2.3.2 Growing demand from emerging markets
  5.2.4 CHALLENGES
    5.2.4.1 Higher cost of cyanate ester resins than other resins
    5.2.4.2 Reduction in the cycle time of thermoset composites structures manufacturing
    5.2.4.3 Rise in the cyanate ester resin raw materials’ prices
5.3 PORTER’S FIVE FORCES ANALYSIS
  5.3.1 THREAT OF NEW ENTRANTS
  5.3.2 THREAT OF SUBSTITUTES
  5.3.3 BARGAINING POWER OF SUPPLIERS
  5.3.4 BARGAINING POWER OF BUYERS
  5.3.5 INTENSITY OF COMPETITIVE RIVALRY

6 CYANATE ESTER RESIN MARKET, BY APPLICATION

6.1 INTRODUCTION
6.2 COMPOSITES
6.3 ADHESIVES
6.4 OTHERS

7 CYANATE ESTER RESIN MARKET, BY END-USE INDUSTRY

7.1 INTRODUCTION
7.2 AEROSPACE & DEFENSE
7.3 ELECTRICAL & ELECTRONICS
7.4 OTHERS

8 CYANATE ESTER RESIN MARKET, BY REGION

8.1 INTRODUCTION
8.2 NORTH AMERICA
  8.2.1 US
  8.2.2 CANADA
  8.2.3 MEXICO
8.3 EUROPE
  8.3.1 GERMANY
  8.3.2 RUSSIA
  8.3.3 UK
  8.3.4 FRANCE
8.4 APAC
  8.4.1 CHINA
  8.4.2 JAPAN
  8.4.3 SOUTH KOREA
  8.4.4 INDIA
8.5 SOUTH AMERICA
  8.5.1 BRAZIL
  8.5.2 ARGENTINA
8.6 MIDDLE EAST & AFRICA
  8.6.1 SAUDI ARABIA
  8.6.2 UAE

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW
9.2 MARKET RANKING
  9.2.1 LONZA
  9.2.2 HUNTSMAN CORPORATION
  9.2.3 HENKEL
  9.2.4 CYTEC SOLVAY GROUP

10 COMPANY PROFILES

(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*

10.1 LONZA
10.2 HUNTSMAN CORPORATION
10.3 HENKEL
10.4 CYTEC SOLVAY GROUP
10.5 HEXCEL CORPORATION
10.6 TENCATE ADVANCED COMPOSITES
10.7 NOVOSET
10.8 ARGOSY INTERNATIONAL

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

11 APPENDIX

11.1 INSIGHTS FROM INDUSTRY EXPERTS
11.2 DISCUSSION GUIDE
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
11.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
11.5 AVAILABLE CUSTOMIZATIONS
11.6 RELATED REPORTS
11.7 AUTHOR DETAILS

LIST OF TABLES

Table 1 CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 2 CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 3 CYANATE ESTER RESIN MARKET SIZE IN COMPOSITES APPLICATION, BY REGION, 2015–2022 (TON)
Table 4 CYANATE ESTER RESIN MARKET SIZE IN COMPOSITES APPLICATION, BY REGION, 2015–2022 (USD THOUSAND)
Table 5 CYANATE ESTER RESIN MARKET SIZE IN ADHESIVES APPLICATION, BY REGION, 2015–2022 (TON)
Table 6 CYANATE ESTER RESIN MARKET SIZE IN ADHESIVES APPLICATION, BY REGION, 2015–2022 (USD THOUSAND)
Table 7 CYANATE ESTER RESIN MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2015–2022 (TON)
Table 8 CYANATE ESTER RESIN MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2015–2022 (USD THOUSAND)
Table 9 CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 10 CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 11 CYANATE ESTER RESIN MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2015–2022 (TON)
Table 12 CYANATE ESTER RESIN MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2015–2022 (USD THOUSAND)
Table 13 CYANATE ESTER RESIN MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2015–2022 (TON)
Table 14 CYANATE ESTER RESIN MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2015–2022 (USD THOUSAND)
Table 15 CYANATE ESTER RESIN MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2015–2022 (TON)
Table 16 CYANATE ESTER RESIN MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2015–2022 (USD THOUSAND)
Table 17 CYANATE ESTER RESIN MARKET SIZE, BY REGION, 2015–2022 (TON)
Table 18 CYANATE ESTER RESIN MARKET SIZE, BY REGION, 2015–2022 (USD THOUSAND)
Table 19 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (TON)
Table 20 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (USD THOUSAND)
Table 21 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 22 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 23 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 24 NORTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 25 US: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 26 US: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 27 CANADA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 28 CANADA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 29 MEXICO: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 30 MEXICO: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 31 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (TON)
Table 32 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (USD THOUSAND)
Table 33 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 34 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 35 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 36 EUROPE: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 37 GERMANY: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 38 GERMANY: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 39 RUSSIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 40 RUSSIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 41 UK: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 42 UK: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 43 FRANCE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 44 FRANCE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 45 APAC: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (TON)
Table 46 APAC: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (USD THOUSAND)
Table 47 APAC: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 48 APAC: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 49 APAC: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 50 APAC: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 51 CHINA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 52 CHINA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 53 JAPAN: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 54 JAPAN: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 55 SOUTH KOREA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 56 SOUTH KOREA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 57 INDIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 58 INDIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 59 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (TON)
Table 60 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (USD THOUSAND)
Table 61 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 62 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 63 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 64 SOUTH AMERICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 65 BRAZIL: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 66 BRAZIL: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 67 ARGENTINA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 68 ARGENTINA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 69 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (TON)
Table 70 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY COUNTRY, 2015–2022 (USD THOUSAND)
Table 71 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 72 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 73 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (TON)
Table 74 MIDDLE EAST & AFRICA: CYANATE ESTER RESIN MARKET SIZE, BY APPLICATION, 2015–2022 (USD THOUSAND)
Table 75 SAUDI ARABIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 76 SAUDI ARABIA: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)
Table 77 UAE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (TON)
Table 78 UAE: CYANATE ESTER RESIN MARKET SIZE, BY END-USE INDUSTRY, 2015–2022 (USD THOUSAND)

LIST OF FIGURES

Figure 1 CYANATE ESTER RESIN MARKET SEGMENTATION
Figure 2 CYANATE ESTER RESIN MARKET: RESEARCH DESIGN
Figure 3 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
Figure 4 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
Figure 5 CYANATE ESTER RESIN MARKET: DATA TRIANGULATION
Figure 6 COMPOSITES TO CAPTURE THE LARGEST SHARE DURING THE FORECAST PERIOD
Figure 7 AEROSPACE & DEFENSE INDUSTRY TO DRIVE THE CYANATE ESTER RESIN MARKET DURING THE FORECAST PERIOD
Figure 8 NORTH AMERICA LED THE MARKET IN THE AEROSPACE & DEFENSE END-USE INDUSTRY IN 2016
Figure 9 NORTH AMERICA DOMINATED THE CYANATE ESTER RESIN MARKET IN 2016
Figure 10 ATTRACTIVE OPPORTUNITIES IN THE CYANATE ESTER RESIN MARKET, 2017–2022
Figure 11 AEROSPACE & DEFENSE SEGMENT TO LEAD IN ALL THE REGIONS
Figure 12 THE US DOMINATED THE NORTH AMERICAN CYANATE ESTER RESIN MARKET IN 2016
Figure 13 CYANATE ESTER RESIN MARKET IN INDIA TO GROW AT A HIGH RATE DURING THE FORECAST PERIOD
Figure 14 OVERVIEW OF THE FACTORS GOVERNING THE CYANATE ESTER RESIN MARKET
Figure 15 PORTER’S FIVE FORCES ANALYSIS
Figure 16 NORTH AMERICA TO LEAD THE CYANATE ESTER RESIN MARKET IN THE COMPOSITES APPLICATION
Figure 17 APAC TO BE THE FASTEST GROWING CYANATE ESTER RESIN MARKET IN THE ADHESIVES APPLICATION
Figure 18 NORTH AMERICA TO LEAD THE CYANATE ESTER RESIN MARKET IN OTHER APPLICATIONS
Figure 19 AEROSPACE & DEFENSE TO BE THE LARGEST END-USE INDUSTRY OF CYANATE ESTER RESIN
Figure 20 NORTH AMERICA TO LEAD THE CYANATE ESTER RESIN MARKET IN THE AEROSPACE & DEFENSE END-USE INDUSTRY
Figure 21 NORTH AMERICA TO LEAD THE CYANATE ESTER RESIN MARKET IN THE ELECTRICAL & ELECTRONICS END-USE INDUSTRY
Figure 22 NORTH AMERICA TO LEAD THE CYANATE ESTER RESIN MARKET IN OTHER END-USE INDUSTRIES
Figure 23 INDIA TO BE THE FASTEST-GROWING CYANATE ESTER RESIN MARKET BETWEEN 2017 AND 2022
Figure 24 NORTH AMERICA: CYANATE ESTER RESIN MARKET SNAPSHOT
Figure 25 EUROPE: CYANATE ESTER RESIN MARKET SNAPSHOT
Figure 26 COMPANIES ADOPTED ACQUISITION AS THE KEY GROWTH STRATEGY BETWEEN 2013 AND 2018
Figure 27 RANKING OF KEY MARKET PLAYERS, 2016
Figure 28 LONZA: COMPANY SNAPSHOT
Figure 29 HUNTSMAN CORPORATION: COMPANY SNAPSHOT
Figure 30 HENKEL: COMPANY SNAPSHOT
Figure 31 CYTEC SOLVAY GROUP: COMPANY SNAPSHOT
Figure 32 HEXCEL CORPORATION: COMPANY SNAPSHOT
Figure 33 TENCATE ADVANCED COMPOSITES: COMPANY SNAPSHOT


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