High-Temperature Resin Market Rising Beyond 4%
The global high-temperature resin market is estimated to reach $4.88 billion by 2026.
The global high-temperature resin market is estimated to reach $4.88 billion by 2026, at a compound annual growth rate (CAGR) of 4.4% from 2016-2026. The market reportedly will be dominated by high-temperature silicone resin. Asia-Pacific is the fastest-growing region for the high-temperature adhesives.
Factors driving the global high-temperature resin market include: the increasing demand for high-temperature resin as an alternative to mechanical fasteners in high-end applications, growth in application areas, increasing demand for high-temperature composite resins in railway and aerospace interior applications, and the increasing demand for thermoplastic resins in composite. The higher cost of high-temperature composites, issues related to recycling of high-temperature thermosetting resins, and regulations related to the use of hazardous chemicals are reportedly restraining market growth.
The demand for high-temperature silicone resin in the high-temperature resin market is growing at the highest rate, as it has the inherent ability to withstand longer exposure to higher temperatures than most other adhesives and sealants, coatings, and composite chemistries. This aspect reportedly has made it the primary choice for under-hood automotive applications. It can also be applied in thicker films, making it useful as a vibration dampening/isolation tool, if the coated assembly is to be placed in a high vibration environment.
The Asia-Pacific is the fastest-growing region for the high-temperature adhesives. The high demand in emerging countries, such as China, India, Korea, Malaysia, and Vietnam, is driving the global adhesives market. This growth stems from a rise in the demand for high-performance, high-quality and high-temperature adhesives from end-user segments such as electrical and electronics, automotive, aerospace, and other products. In addition, the carpentry and construction, and assembly and transport industries are also witnessing a growing demand for adhesives.
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