Market Summary: The global market for high-temperature composite resin is projected to reach USD 1.77 billion by 2027, growing at a CAGR of 8.9% during the forecast period. The increasing demand for these resins is driven by the growing space exploration activities and their wide-ranging applications in the transportation, aerospace, and defense sectors.

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High-temperature composite resin is utilized in applications that require resistance to temperatures beyond what typical epoxy materials can withstand. These high-temperature polymers offer exceptional thermal stability, excellent mechanical properties, and superior chemical resistance, making them suitable for manufacturing ducts, hot sections, and engines. Additionally, they are used in heat protection systems, rocket engine nozzles, as a titanium replacement in launch vehicles and aircraft, power plants, military-specific applications, and more.

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Composite resin materials play a crucial role in the production of spacecraft, instruments, and rocket launchers, enabling space exploration. The increasing budgets allocated by governments for space activities are expected to drive the revenue share of high-temperature composite resin. For instance, the U.S. government plans to send astronauts to the moon by 2024 and has allocated a significant budget of USD 25 billion for NASA's human space exploration program in 2021, marking a historical milestone for the agency.

High-temperature composite resin is being increasingly adopted as an alternative to metals in challenging high-temperature applications. These resins offer expanded possibilities for manufacturers and provide design benefits, including substantial weight reductions. The focus on lightweighting in the automotive and aircraft industries to save fuel and comply with environmental regulations will further boost the consumption of high-temperature composite resin. Moreover, the increasing use of the product in aviation and defense projects will contribute to market growth. For instance, the F-35 aircraft, a 5th generation fighter jet, relies heavily on high-temperature composite resin, which constitutes nearly 50% of the aircraft's composition. Lockheed Martin, the manufacturer of F-35 aircraft, has announced plans to increase deliveries from 91 aircraft in 2018 to 160 aircraft in 2023, which will drive the demand for high-temperature composite resin.

However, challenges such as high manufacturing setup costs, recycling limitations, and the need for permits from government organizations operating under the Toxic Substances Control Act may hinder the growth of the high-temperature resin industry.

Regional Outlook: In 2019, North America accounted for over 31.3% of the market share for high-temperature composite resin and is expected to experience significant growth until 2027. This growth can be attributed to the thriving defense and aerospace industry, along with the large-scale production of aircraft in the region to meet global demand. In 2017, the U.S. aerospace and defense sector generated over USD 143 billion in revenue, experiencing a growth rate of 26%.

Resin Outlook: In 2019, polyimide resin accounted for over 22.8% of the market share for high-temperature composite resin. Its extensive utilization in Resin Transfer Molding of high-temperature composite parts for aircraft and machine manufacturing is a significant factor contributing to its traction in the market.

Manufacturing Process Outlook: In 2019, the lay-up manufacturing process held the largest share of more than 36.7% and is expected to continue garnering significant revenue share in the high-temperature composite resin market until 2027.

Market-O-Nomics: The global high-temperature composite resin market is forecasted to reach USD 1.77 billion by 2027, growing at a CAGR of 8.9% during the forecast period. The market demand is driven by the rise in space exploration activities and extensive product applications in the transportation, aerospace, and defense sectors. High-temperature composite resin materials play a vital role in the manufacture of spacecraft, instruments, and rocket launchers, enabling space exploration. The U.S. government plans to send astronauts to the moon by 2024 and has allocated a budget of USD 25 billion for NASA's human space exploration program in 2021. Nearly 50% of the entire F-35 aircraft is manufactured using high-temperature composite resins, while 35% is made of composites. Lockheed Martin has announced plans to increase F-35 aircraft deliveries from 91 in 2018 to 160 aircraft in 2023, which will positively impact the demand for high-temperature composite resin. North America accounted for over 31.3% of the high-temperature composite resin market share in 2019 and is expected to grow significantly until 2027. In 2017, the U.S. aerospace and defense sector generated USD 143 billion in revenue, with a growth rate of 26%. The APAC region is estimated to contribute significantly to the market share of high-temperature composite resin, with a projected CAGR of 9.8% during the analysis period. Polyimide resin accounted for over 22.8% of the high-temperature composite resin market share in 2019. The lay-up manufacturing process held the largest share of more than 36.7% in 2019. The aerospace and defense sector accounted for the largest share of around 27.3% in the high-temperature composite resin market in 2019 and is projected to deliver a CAGR of 9% until 2027. Factors such as heavy manufacturing setup expenses, recycling limitations, and the need for permits from government organizations may hamper the growth of the high-temperature resin industry.

Competitive Landscape: The leading companies in the industry include Hexcel Corporation, Huntsman International LLC, Koninklijke Ten Cate bv, Hexion Inc., Sumitomo Bakelite Company Limited, DIC Corporation, Lonza AG, Arkema S.A., Nexam Chemical Holding AB, and Ube Industries, Ltd. These companies are focusing on capacity expansion to meet the growing demand.

In July 2018, Groupe Gazechim Composites and Hexcel Corporation collaborated to offer customized kitting services for high-level composite materials, specifically for defense and aerospace applications.

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