The Global Cyanate Ester Resins Market Growth Accelerated By Superior Properties Over Traditional Resins

Cyanate ester resins exhibit superior flame retardancy, radiation stability, moisture absorption and dielectric properties as compared to traditional resin systems such as bismaleimide and epoxy resins. They provide excellent strength and rigidity at high temperatures making them suitable for applications in electronics, aerospace and defense industries.

The global cyanate ester resins market is estimated to be valued at US$ 211.8 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing Demand from Aerospace Industry

The global aerospace industry has been exhibiting significant growth over the past few years owing to rising passenger traffic and increasing defense budgets of major countries. Cyanate ester resins possess properties such as high heat resistance, excellent dimensional stability and moisture resistance making them ideal for manufacturing components used in aircraft engines and airframes. Their superior performance as compared to traditionally used resins is expected to drive their increasing demand from the aerospace industry over the forecast period.

Segment Analysis

Cyanate ester resins find wide application in electronics & electrical segments. Within electronics & electrical, the circuit boards sub-segment accounts for the largest share and is expected to continue its dominance over the forecast period. This is attributed to the superior properties of cyanate ester such as high thermal resistance, good dielectric properties and excellent adhesion to fibers which make it an ideal material for manufacturing high speed and high performance printed circuit boards that can sustain higher temperatures without degradation.

Key Takeaways

The global Cyanate Ester Resins market size is expected to witness high growth over the forecast period of 2023 to 2030. The global cyanate ester resins market is estimated to be valued at US$ 211.8 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

Regional analysis

Asia Pacific region currently dominates the global cyanate ester resins market and is expected to continue its stronghold during the forecast period. This is mainly attributed to huge electronics manufacturing base and rapidly increasing electric vehicle production in countries such as China and India. Furthermore, growing marine industry in Southeast Asian economies is also contributing to the market growth in the region.

North America is expected to grow at a significant rate during 2023-2030 on account of growing aerospace industry and upward trend in defense spending in the US. Strict environmental norms regarding low emissions are augmenting the demand for cyanate ester resins from wind energy industry in the region.

Key players

Key players operating in the Cyanate Ester Resins market are Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Bioporto Diagnostics A/S, Astute Medical, Inc., Randox Laboratories, Sphingo Tec GmbH, Siemens Healthineers AG, Eli Lilly and Company, and Novartis AG. The market is expected to witness heightened competition between these players to gain leading market share through investments in research & development and new product launches.

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