India to register the highest growth rate in the high temperature resin

The global market for high temperature resin is estimated to be valued at USD 3.16 billion in 2016, and is projected to reach USD 4.88 billion by 2026, at a CAGR of 4.44% from 2016 to 2026.

The growth in the market for high temperature resin is attributed to the increasing demand for high temperature resin as an alternative to mechanical fasteners in high end applications, growth in application areas, the increasing demand for high temperature composite resins in railway and aerospace interior applications, and the increasing demand for thermoplastic resin in the composites application.

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The Asia-Pacific region is the fastest-growing market for the high temperature resin, in terms of value and volume. The countries in this region such as, China, Indonesia, and India are witnessing high growth in the demand for high temperature resin due to the rapid industrialization and increasing number of end-use industries in the region.

Owing to these factors, the demand for high temperature resins in various end-use industries has increased over the past few years and the same factors are also expected to drive growth during the next five years.

China is the leading player in the high temperature resin market with many leading players investing in the country to build new manufacturing facilities. Growth of the high temperature resins market in China is driven by foreign investments, cost-effective labor, and the availability of inexpensive raw materials.

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The adhesives & sealants application is the largest market for high temperature resins. High temperature resins in adhesives exhibit heat resistance and stable mechanical properties and thus enable the maintenance of structural integrity at the intended service temperature.

Solvay S.A (Belgium), Huntsman Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), Hexion Inc. (U.S.), Mitsui Chemicals Inc. (Japan), DIC Corporation (Japan), Henkel AG & Co., KGaA (Germany), Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Royal Tencate N.V. (Netherlands), and BASF SE (Germany) are some of the important players in the global high temperature resin market.

Henkel AG & Co. KGaA is a global market leader in the adhesives business. The company has a strong global position and is expected to retain its market share in the near future by pursuing strategies such as joint ventures and new product launches to cater to the changing customer requirements. To keep up with the on-going trend of developing products that reduce volatile organic compounds (VOCs) and toxicity, the company has introduced solvent-free assembly adhesives with improved performances.

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In October 2014, Henkel launched a new product, the Loctite Benzoxazine (BZ) composites family, which includes prepregs, infusion resins, film adhesives, and tooling materials. The major application of this new product series is found in the aerospace & defense industry. Similarly in September 2013, Henkel launched Loctite MAX 3, a polyurethane matrix resin with application in the automotive & transportation industry.

Reference:

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