Cyanate Ester Resin Market To Reach $722.15 Million By 2030

Cyanate Ester Resin Market Growth & Trends

The global cyanate ester resin market is anticipated to reach USD 722.15 million by 2030 and is projected to grow at a CAGR of 10.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing need for high-temperature resins in the aerospace and military industries, as well as the exceptional mechanical and thermal properties of cyanate ester resin.

Moreover, compared to other resins, cyanate ester offers superior strength and electrical characteristics. Furthermore, it performs exceptionally well in high-temperature environments. The rising demand for high-temperature resins from the aerospace and military industries, as well as rising need for fuel-efficient automobiles, are likely to drive market growth.

As recycling technologies advance, the global market adapts to integrate more recycled content into its products, contributing to a more circular and resource-efficient approach. Government policies and regulations supporting sustainable practices further bolster the demand for cyanate ester. The circular economy encourages the collection, separation, and reprocessing of cyanate ester products, diverting them from landfills.

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Cyanate Ester Resin Market Report Highlights

• Based on type, the bisphenol derivatives segment led the market with the largest revenue share of 52.68% in 2023. BPA-type cyanate esters offers high thermal stability, mechanical strength, and electrical properties, making them ideal for several applications in industries such as electronics, aerospace & defense, and automobiles

• Based on application, the composites segment is expected to grow at a significant CAGR of 10.5% over the forecast period

• Based on end-use, the aerospace & defense segment held the market with the largest revenue share of 43.50% in 2023. Cyanate esters are widely used in aerospace industry owing to its lightweight qualities and high strength

• The increasing emphasis on fuel efficiency and environmental sustainability is the key driver of the market growth

• Asia Pacific dominated the market with the revenue share of 28.28% in 2023. The expanding aerospace and electrical & electronics manufacturing industry in Asia Pacific is anticipated to drive the requirement for cyanate ester

• In January 2023, NEXX Technologies unveiled the Enduredge NTC-425, a vertically integrated cyanate ester prepreg technology. This novel prepreg resin solution is unique in the composites sector due to its vertical integration and shop temperature out-time of 90-100 days (<75ËšF), resulting in lower costs

Cyanate Ester Resin Market Segmentation

Grand View Research has segmented the cyanate ester resin market report based on type, application, end-use, and region:

Cyanate Ester Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bisphenol derivatives

• Novolac

• Others

Cyanate Ester Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Composites

• Adhesives

• Coatings

• Others

Cyanate Ester Resin End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Aerospace & Defense

• Electrical & electronics

• Automotive

• Others

Cyanate Ester Resin Region Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

• Asia Pacific

  • Japan

  • China

  • India

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • GCC Countries

  • South Africa

List of Key Players in Cyanate Ester Resin Market

• Huntsman International LLC

• Arxada Ltd.

• Toray Advanced Composites

• Hexcel Corporation

• MITSUBISHI GAS CHEMICAL COMPANY, INC

• Henkel AG & Company

• Novoset, LLC

• Solvay

• Syensqo

• TenCate Advanced Composites