July 19, 2024
Cyanate Ester Resins Market

Cyanate Ester Resins Market Estimated To Reach US$ 244 Mn By 2024 Propelled By Increasing Demand From Electrical & Electronics Industry

Cyanate ester resins are thermosetting adhesives and composite matrix resins that offer several advantages over conventional resins such as epoxy, BMI, and PEEK resins. They exhibit excellent mechanical, electrical and chemical properties along with dimensional stability at high temperatures. Due to these superior properties, cyanate ester resins find wide applications in aircrafts, spacecrafts, pressure vessels, printed circuit boards and electrical insulators.

The Global Cyanate Ester Resins Market Size is estimated to be valued at US$ 244 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing demand from the electrical & electronics industry is one of the major factors propelling the growth of the global cyanate ester resins market. Cyanate ester resins possess high electrical resistivity and low dielectric constant making them suitable for use in printed circuit boards. Besides this, they exhibit superior thermal and chemical stability even at high temperatures which make them ideal for applications in semiconductor packaging. Owing to miniaturization of electronic devices and the need for high reliability, cyanate ester resins are increasingly being used as an alternative to conventional resins in the electrical & electronics industry. The growth of consumer electronics, telecommunication and computing sectors globally is expected to drive the demand for cyanate ester resins during the forecast period.

SWOT Analysis

Strength: Cyanate Ester Resins have higher glass transition temperature, weight savings, and flame retardancy properties which makes them suitable for applications requiring high temperature performance.
Weakness: These resins have stringent processing conditions and handling safety issues. Raw materials required are also expensive.
Opportunity: Growing demand for high performance composites from aerospace and defense industry provides huge market potential. Emerging applications in electronics and 3D printing industry as well.
Threats: Stringent environmental regulations around resin processing. Development of alternative materials like PEEK resins reducing demand for cyanate ester resins.

Key Takeaways

The global cyanate ester resins market is expected to witness high growth during the forecast period. The global Cyanate Ester Resins Market is estimated to be valued at US$ 244 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.

Regional analysis:

North America region dominates the cyanate ester resins market currently due to high demand from aerospace industry. Significant investments in North America aerospace and defense industry will continue driving the cyanate ester resins market in the region. Asia Pacific region is expected to be the fastest growing market for cyanate ester resins during the forecast period due to increasing exotic composite material demand from industries like aerospace and electronics in China and India.

Key players:

Key players operating in the cyanate ester resins market are Promega Corporation, Merck KgaA, Geno Technology Inc., USA., Thermo Fisher Scientific Inc., SignalChem Biotech Inc., Takara Bio Inc., Creative Enzymes, ProteoChem, Waters Corporation, Bioseutica, Bovogen Biologicals Pty Ltd., and BBI Solutions. These players are focusing on new product development and partnerships to strengthen their market position.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it