The global high temperature resin market is expected to witness strong growth during the forecast period. The growth in the global market is likely to be driven by the use of high temperature resin as an alternative to mechanical fasteners, growth in industrial application, increasing demand for high temperature resins in transportation industry and growing demand for thermoplastic resins.
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Additionally, the increasing consumption of high temperature resin in electronics industry is expected to support further growth in the high temperature resin market worldwide. The global high temperature resin market is adversely affected by the high cost of high temperature resins and recycling issues.
These resins are extensively used in the transportation and building and construction industries, owing to high resistivity to ignition and reduced smoke, heat release and fume emission. High temperature resin is used as an alternative to mechanical fasteners in various industrial sectors such as automotive, transportation, and industrial machinery. The automobile manufacturers reduce the vehicle weight, and increase the engine efficiency by replacing the mechanical fasteners in automobiles with high temperature resins.
Asia-Pacific is expected to witness significant growth in the global high temperature resin market, during the forecast period. The key factors for the increasing demand for high temperature resin include growing base of automotive manufacturers and high investment in infrastructural development. These factors are allowing major players to shift their focus from developed nations to the developing nations of China, India, and Thailand.
High temperature resin is linear or crosslinked, aromatic/heterocyclic polymer possessing high glass transition temperature and having the ability to withstand continuous exposure in air at a temperature above 316°C (600° F), without unveiling substantial loss of structural integrity. High temperature resin is used in various industries, including transportation, aerospace and defense, marine and building and construction.
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China is the major country driving the high temperature resin market in the region. The automobile industry in China is witnessing exponential growth. Since 2009, the annual production of automobiles in China has exceeded the combined production of Japan, the U.S., and the European countries. The European region is expected to witness steady growth in the global high temperature resin market, during the forecast period.
Some of the key players in the global high temperature resin market are Huntsman Corporation, Hexion Inc., Mitsui Chemicals Inc., Solvay S.A., Royal Tencate N.V., E. I. DuPont de Nemours and Company, Wacker Chemie AG, DIC Corporation, Henkel AG & Co., KGaA, The Dow Chemicals Company, and BASF SE.