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Cyanate Ester Resin Market Share

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The global cyanate ester resin market is anticipated to reach a value of USD 535.28 million by 2025.
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Cyanate Ester Resin Market Size, Share, Growth, Industry
Analysis, Competitive Strategies and Forescast to 2025 | Hexa
Research
“The global cyanate ester resin market was valued at USD 225.85
million in the year 2017 and is projected to expand at a CAGR of over
11% during the forecast period.”
22 January 2019 The global Cyanate Ester Resin Market is anticipated to reach a value of USD 535.28 million by 2025. Unique
properties of the product such as low moisture uptake and high thermal efficiency to boost the scope of
application in electronics, aerospace, industrial, automotive, and other industries. This factor is projected to
propel market growth over the forecast period.
Epoxy resins, a traditional material long used in various applications, such as adhesives, coatings and
composite materials, is expected to be replaced with a new type of thermosetting resin, cyanate ester resins.
The main reasons for this shift include low mechanical strength exhibited by epoxies and failure of epoxy
resins above certain degree of high temperature. Hence, new resin system based on range of cyanate ester
are being developed that are superior to epoxies and can withstand a temperature up to 200°C.
Cyanate ester resins are getting popular in aerospace applications owing to their very low dielectric constant
and low moisture uptake. Lower moisture uptake means it is subjected to lesser shrinkage during the curing
process. This makes the resin suitable for use in aircraft structures, especially in primary and secondary
structures of military aircrafts, such as in composite parts of Dassault Rafale fighter jet. Bisphenol derivatives
of cyanate ester accounted for the largest market revenue share in the past and are expected to maintain the
dominance over the forecast period.
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Aerospace is anticipated to continue being the largest consumer and fastest-growing application in near
future. For instance, the International Thermonuclear Experimental Reactor (ITER) thermonuclear synthesis
reactor uses cyanate ester casing. The structure that holds NASA’s James Webb Space Telescope instrument
is designed by a unique cyanate ester. Furthermore, cyanate ester composites have also been used in the
science decks on the Mars Phoenix lander. Electronics is another lucrative industry for cyanate ester resins
owing to growing demand of Printed Circuit Boards (PCBs). Furthermore, adhesives of cyanate ester are also
gaining traction in the electronic applications.
They are also used in high speed motorbikes in muffler systems and racing cars, such as Formula One. The
market for cyanates ester resins is in its nascent stage. While its applications are increasing in aerospace,
automotive, and electronics sectors, the high end-use cost associated with the product is expected to
restraint market growth. The market is prevalent in North America, Europe, and Asia Pacific owing to the
presence of key domestic companies. Furthermore, growing aerospace industry in these reg ions is expected
to uplift the demand in the forthcoming years.
In terms of key country market, U.S. accounted for a major market revenue share in the past. U.S. is one of
the largest consumers of prepregs and resins, such as for military jets, civil airc rafts, helicopters, aeroengines, launchers, and space satellites. Presence of major companies and consumers, such as Boeing,
Lockheed Martin, and United Technologies, in the country are driving the market. China is one of the fastest growing country markets owing to huge domestic market of thermosetting resins.
Companies engaged in aerospace, automotive, and marine fields are the major consumers of cyanate ester
resins. For instance, Hexcel’s commercial aerospace segment sales for the year 2017 accounted for nearly
64% of their total sales. Key companies in the global cyanate ester resin market are Lonza Group; TenCate;
Cytec Industries, Inc.; Mitsubishi Gas Chemical Company, Inc.; Huntsman Corp.; Hexcel Corp.; and Novoset
LLC.
Hexa Research has segmented the global cyanate ester resin market report based on derivatives, application
and region:Segmentation by Derivatives
• Bisphenol-based
• Novolac-based
Segmentation by Application
• Aerospace
• Automotive
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• Electronics
• Industrial
• Others
Segmentation by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• Asia Pacific
• China
• India
• Central & South America
• Middle East & Africa
Key players analyzed:
• TenCate
• Cytec Industries Incorporated (Solvay S.A.)
• Mitsubishi Gas Chemical, Inc.
• Lonza
• Huntsman
• Carbon, Inc.
• Future Carbon GmbH.
• Hexcel
• Novoset, LLC
• Yangzhou Chemicals
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Table of Contents of Cyanate Ester Resin Market:
Chapter 1 Executive Summary
Chapter 2 Methodology and Scope
2.1 Research methodology
2.2 Assumptions
2.3 List of data sources
Chapter 3 Introduction
3.1 Research scope & market segmentation
Chapter 4 Cyanate Ester Resin Market Trends: Drivers & Opportunities
4.1 Key industry trends
4.1.1 Market driver analysis
4.1.1.1 Rise in popularity of lightweight materials
4.1.1.2 Flourishing aerospace industry
4.1.1.3 List of other market drivers
4.1.2 Market restraint analysis
4.1.2.1 High end-use cost
4.1.2.2 Volatility in crude oil prices
4.1.2.3 Growing usage of lower-cost CE resins
4.2 Value chain analysis
4.3 Porter’s Five Forces’ analysis
Chapter 5 Cyanate Ester Resin Market Trends, By Derivative
5.1 Global cyanate ester resin market, by derivative, 2017 & 2025
5.2 Bisphenol-based
5.2.1 Global cyanate ester resin market for bisphenol-based, 2015 - 2025 (USD Million) (Tons)
5.3 Novolac-based
5.3.1 Global cyanate ester resin market for novolac-based, 2015 - 2025 (USD Million) (Tons)
Chapter 6 Cyanate Ester Resin Market Trends, By Application
6.1 Global cyanate ester resin market, by application, 2017 & 2025
6.2 Aerospace
6.2.1 Global cyanate ester resin market for aerospace, 2015 - 2025 (USD Million) (Tons)
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6.3 Automotive
6.3.1 Global cyanate ester resin market for automotive, 2015 - 2025 (USD Million) (Tons)
6.4 Electronics
6.4.1 Global cyanate ester resin market for electronics, 2015 - 2025 (USD Million) (Tons)
6.5 Industrial
6.5.1 Global cyanate ester resin market for industrial, 2015 - 2025 (USD Million) (Tons)
6.6 Others
6.6.1 Global cyanate ester resin market for other application, 2015 - 2025 (USD Million) (Tons)
Chapter 7 Cyanate Ester Resin Market Trends, By Region
7.1 Global cyanate ester resin market movement, by region, 2017 & 2025
7.2 North America
7.2.1 North America cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
7.2.2 North America cyanate ester resin market, by derivative, 2015 - 2025 (USD Million) (Tons)
7.2.3 North America cyanate ester resin market, by application, 2015 - 2025 (USD Million) (Tons)
7.3 Europe
7.3.1 Europe cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
7.3.2 Europe cyanate ester resin market, by derivative, 2015 - 2025 (USD Million) (Tons)
7.3.3 Europe cyanate ester resin market, by application, 2015 - 2025 (USD Million) (Tons)
7.4 Asia Pacific
7.4.1 Asia Pacific cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
7.4.2 Asia Pacific cyanate ester resin market, by derivative, 2015 - 2025 (USD Million) (Tons)
7.4.3 Asia Pacific cyanate ester resin market, by application, 2015 - 2025 (USD Million) (Tons)
7.5 Central & South America
7.5.1 Central & South America cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
7.5.2 Central & South America cyanate ester resin market, by derivative, 2015 - 2025 (USD
Million) (Tons)
7.5.3 Central & South America cyanate ester resin market, by application, 2015 - 2025 (USD
Million) (Tons)
7.6 Middle East & Africa
7.6.1 Middle East & Africa cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
7.6.2 Middle East & Africa cyanate ester resin market, by derivative, 2015 - 2025 (USD Million)
(Tons)
7.6.3 Middle East & Africa cyanate ester resin market, by application, 2015 - 2025 (USD Million)
(Tons)
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Chapter 8 Key Country Markets
8.1 U.S.
8.1.1 U.S. cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
8.2 Canada
8.2.1 Canada cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
8.3 Germany
8.3.1 Germany cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
8.4 China
8.4.1 China cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
8.5 India
8.5.1 India cyanate ester resin market, 2015 - 2025 (USD Million) (Tons)
Chapter 9 Competitive Landscape
9.1 Vendor landscape analysis
9.2 Strategic framework
9.3 Company market share (By value)
9.4 Company market share (By volume)
9.5 Company Profile
9.5.1 TenCate
9.5.1.1 Company Overview
9.5.1.2 Product Benchmarking
9.5.1.3 Financial Performance
9.5.1.3.1 Financial Analysis
9.5.1.4 Recent Initiatives
9.5.2 Cytec Industries Incorporated (Solvay S.A.)
9.5.2.1 Company Overview
9.5.2.2 Product Benchmarking
9.5.2.3 Financial Performance
9.5.2.3.1 Financial Analysis
9.5.2.4 Recent Initiatives
9.5.3 Mitsubishi Gas Chemical, Inc.
9.5.3.1 Company Overview
9.5.3.2 Product Benchmarking
9.5.3.3 Financial Performance
9.5.3.3.1 Financial Analysis
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9.5.3.4 Recent Initiatives
9.5.4 Lonza
9.5.4.1 Company Overview
9.5.4.2 Product Benchmarking
9.5.4.3 Financial Performance
9.5.4.3.1 Financial Analysis
9.5.4.4 Recent Initiatives
9.5.5 Huntsman
9.5.5.1 Company Overview
9.5.5.2 Product Benchmarking
9.5.5.3 Financial Performance
9.5.5.3.1 Financial Analysis
9.5.5.4 Recent Initiatives
9.5.6 Carbon, Inc.
9.5.6.1 Company Overview
9.5.6.2 Product Benchmarking
9.5.6.3 Recent Initiatives
9.5.7 Future Carbon GmbH.
9.5.7.1 Company Overview
9.5.7.2 Product Benchmarking
9.5.7.3 Recent Initiatives
9.5.8 Hexcel
9.5.8.1 Company Overview
9.5.8.2 Product Benchmarking
9.5.8.3 Financial Performance
9.5.8.3.1 Financial Analysis
9.5.8.4 Recent Initiatives
9.5.9 Novoset, LLC
9.5.9.1 Company Overview
9.5.9.2 Product Benchmarking
9.5.9.3 Recent Initiatives
9.5.10 Yangzhou Chemicals
9.5.10.1 Company Overview
9.5.10.2 Product Benchmarking
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