LONDON--(BUSINESS WIRE)--The global cyanate ester resin market is expected to post a CAGR of over 11% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increase in demand for aircraft. Air travel is expected to gain traction during the forecast period, despite several challenges faced by the industry. Airlines are struggling with high jet fuel prices and sluggish economic growth. The introduction of cost-effective carriers and regional airlines has revolutionized the airline business with the introduction of innovative low-fare business models. The high global aviation demand is driven by the rising affluence of the middle-class population in emerging markets.
This market research report on the global cyanate ester resin market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased demand from emerging economies as one of the key trends in the global cyanate ester resin market:
Global cyanate ester resin market: Increased demand from emerging economies
The global cyanate ester resin market is witnessing high growth opportunities in emerging economies such as APAC, the Middle East and Africa, and South America. The market has witnessed a shift in the operation facilities of various companies in these regions, especially APAC, driven by the availability of cost-effective manpower, less stringent government norms, and low transportation cost in these countries.
“In countries such as China, South Korea, India, and Brazil, the demand for cyanate ester resin products has witnessed a surge from end-user industries such as aerospace and defense and electrical and electronics. APAC is one of the leading producers of automobiles and contributed to the high demand with the highest contributions from India and China,” says a senior analyst at Technavio for research on specialty chemicals.
Global cyanate ester resin market: Segmentation analysis
This market research report segments the global cyanate ester resin market by end-user (aerospace and defense and electrical and electronics) and geographical regions (APAC, EMEA, and the Americas).
The aerospace and defense segment held the largest market share in 2017, accounting for nearly 64% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with nearly 40% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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