Global Polybenzoxazine Resins Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Polybenzoxazine Resins Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global polybenzoxazine resins market report has been segmented on the basis of end-use industry, and region.
Global Polybenzoxazine Resins Market: Overview
Polybenzoxazine resins are high-performance phenolic resins with various properties such as lightweight, flexibility, high impact strength, good flame retardant, low water absorption, thermal stability, high temperature resistance, and others. This thermosetting polymer is synthesized from phenol, aldehyde and amine group by solvent or solventless technology. These resins possess low volumetric shrinkage during cure, which avoids void formation in end product. Polybenzoxazine resins are widely used in manufacturing of frames, body panels of vehicles, composite pipes, autoclave tooling, pressure vessels, printed circuit board, and others.
Global Polybenzoxazine Resins Market: Dynamics
Increasing demand for these resins in aerospace & defense industry for manufacturing of interiors, engine parts, structures of aircraft and missiles, etc., owing to its rigidity, corrosion resistant, high temperature performance, and others is a major factor expected to drive growth of the global polybenzoxazine resins market. Additionally, rapid industrialization coupled with growing construction and automotive industries owing to it properties such as high strength and stiffness, lightweight, thermal stability, and others is another factor estimated to propel growth of the potential market to a certain extent in years to come. Furthermore, increasing demand for polybenzoxazine resins in electrical and electronics industry owing to its properties is among some other factors estimated to fuel growth of the polybenzoxazine resins market in the next coming years.
However, high raw material cost is a major factor which may hamper growth of the target market over the long run. In addition, stringent regulations pertaining to fire and toxicity is expected to be another factor restraining growth of the potential market.
Increasing investments in R&D and new product innovations in aerospace & defense sector is expected to create lucrative opportunities for the manufactures of polybenzoxazine resins, and is anticipated to support growth in terms of revenue in the potential market.
Global Polybenzoxazine Resins Market: Segment Analysis
Among end-use industry, the aerospace & defense segment is estimated to hold significant revenue share contribution in the next coming years whereas construction segment is projected to grow at a faster rate in the potential market. This can be attributed to the increasing government investment in R&D of aerospace & defense and in various infrastructural activities.
Global Polybenzoxazine Resins Market: Regional Analysis
Currently, North America polybenzoxazine resins market is estimated to account for maximum revenue share and is expected to dominate the global polybenzoxazine resins market over the long run. Rising demand for these resins in automotive, aerospace & defense, and other end-use industries is a major factor expected to propel growth of the North America polybenzoxazine resins market. Asia Pacific polybenzoxazine resins market is projected to grow at a rapid rate in the next coming years, owing to rapid industrialization coupled increasing government investments for new construction projects in developing economies. The polybenzoxazine resins market in Europe is anticipated to account for moderate growth in terms of value in the potential market, owing to increasing government initiatives in automotive and aerospace industries.
Global Polybenzoxazine Resins Market Segmentation:
Segmentation on the Basis of End-use Industry:
- Aerospace & Defense
- Electrical & Electronics
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Huntsman Corporation
- Kaneka Corporation
- Shikoku Chemicals Corporation
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