Cyanate Ester Resins Market Share

North American Market Forecast

The cyanate ester resins market in North America is poised to account for the largest share of 35% by the end of 2036 as a result of the growth of the chemical industry in countries such as the United States, which is a positive indicator of the increased production rate of cyanate ester resins in the upcoming years with their growing applications in spacecraft, aircraft, and missiles. According to recent reports, the chemical industry generated nearly USD 550 billion in revenue in the United States in 2019.

APAC Market Statistics

The Asia Pacific cyanate ester resins market is estimated to be the second largest, registering a share of about 24% by the end of 2036, owing to the increased investment in research and development activities to introduce high-quality cyanate ester resins in emerging nations such as China. Also, the rising favorable government initiatives encouraging major key players in the region to produce advanced materials such as ester resins with its rapidly augmenting demand in the various end-use industries in the region including chemical, and automotive, is anticipated to bring lucrative growth opportunities for the market shortly.