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Cyanate Ester Resins Market is Likely to Grow at 6.3% CAGR During 2018 to 2023

Detroit, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Stratview Research announces the launch of a new market research report on Cyanate Ester Resins Market by End-Use Industry Type (Aerospace & Defense, Electrical & Electronics, and Others), by Application Type (Composites, Adhesives), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

The Global Cyanate Ester Resins Market: Highlights

As per Stratview Research, the global cyanate ester resins market is projected to grow at an impressive rate of 6.3% CAGR during the forecast period. Cyanate ester resins offer excellent strength and toughness, better electrical properties, high-temperature resistance, and lower moisture absorption. They find use in host of applications including antennae, radomes, wings, microelectronics and microwave products in the aerospace & defense and electrical & electronics industries.

Based on the end-use industry type, aerospace & defense is expected to remain the largest consumer of cyanate ester resins during the forecast period. The industry is also likely to witness the highest growth during the same period. Cyanate ester is gaining ground in manufacturing composite parts for aircraft and spacecraft, owing to its high-temperature resistance property.

By application type, composites accounted for the largest share of the global cyanate ester resin market in 2017 and will continue to surge ahead during the forecast period. Composites have been successful in marking their presence in most of the end-use industries in almost all types of applications including high-temperature-resistant applications. 

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In terms of region, North America is expected to remain the largest market for cyanate ester resins during the forecast period. Asia-Pacific is a relatively small market but is estimated to be the fastest-growing market during the same period, primarily driven by China and Japan.

Key cyanate ester resin manufacturers are Lonza Group, Huntsman Corporation, Henkel AG & Company, Cytec Solvay Group, Hexcel Corporation, and TenCate Advanced Composites.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences and Oil & Gas.

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