High Temperature Resin Market Size and Share Analysis Report by Type (Epoxy, Silicone, Acrylic, Polyester, Polyethersulfone, Alkyd, Polyurethane, Phenolic, Polyetherimide), Application (Adhesives & Sealants, Paints & Coatings, Composites) - Industry Trends and Growth Forecast to 2030

Market Overview

The global high-temperature resin market size was $3,560.6 million in 2021, and it will advance at a CAGR of 3.9% during 2021–2030, to reach $5,031.7 million by 2030. The industry growth is primarily attributed to the ability of these materials to withstand extremely high temperatures and harsh environmental conditions. The fact that they are an effective substitute for ceramics and other metals has led to their increasing adoption, thus driving the market growth.

Epoxy Category Holds Largest Share in Market

The epoxy category leads the industry, and it is expected to generate revenue of $1,326.8 million in 2030, owing to the exceptional corrosion resistance and negligible outgassing of epoxy high-temperature resins. They are excellent chemicals with strong adhesion and heat resistance. The resins are used in the form of functional powder coatings to enhance resistance against wear & tear. Also known as polyepoxides, they are used for the manufacturing of materials and products used in building and construction, such as adhesives, primers & sealers, plastics, and paints.

Silicone resins are expected to observe modest growth during the forecast period. Factors that are driving the demand for them are their high heat resistance and preference over natural rubber, as the former can operate at much higher temperatures, of about 230 degrees Celsius (°C), as compared to natural rubbers, which deteriorate at 80 °C and melt at 120 °C. Silicone resins are used to make medical and industrial products because of their high compressibility, low surface tension, chemical inertness, and thermal stability. Some silicone resins also have properties of water repellence and can remain stable even at about 300 °C.

The acrylic resins category is expected to have a significant share of the revenue in the coming years. They are in demand due to their flexibility, workability, enhanced adhesion, and superior physical hardness and are used to make superior and robust acrylic coatings or paintings. Moreover, their resistance to relative weather, heat, solvent, and chemicals, along with their transparency, glossy appearance, and color stability, makes them popular within the coatings industry. Additionally, they have great tensile strength and are used as decorative panels, elastomers and coatings, and adhesives.

Polyester resins, under the type segment, are expected to record considerable progress in the high-temperature resin market outlook. These thermoplastic polymers are also recyclable, transparent, and high in density, with excellent strength and shatter, food, and, water resistance. This is why they are often used in manufacturing textiles and packaging material. Moreover, when combined with cotton, the fabric they create does not wrinkle or shrink. However, compared to other polymers, polyester resins are moderately expensive.

Polyethersulfone resins are also expected to generate decent revenue during the forecast period. They are an amorphous, transparent, highly flexural, extremely tough engineering thermoplastic that are dimensionally stable over a wide temperature range. They have great electrical characteristics and excellent resistance to heat and chemicals. Applications of these resins are many, such as electrical/electronic applications, float switches, solenoid valve bodies, dairy connectors, manifolds, and Petri dishes. The resin is also used for medical components, wastewater recovery, and food and beverage processing.

The alkyd category will also have a decent share of the revenue in the years to come. These thermoplastic polyester resins are created by heating polyhydric alcohols in the presence of polybasic acids or their anhydrides. These resins are involved in the making of protective coatings and some synthetic paints. They have great chemical resistance and exceptional electrical and thermal properties. Additionally, their versatile nature and low cost are the two major factors driving the demand for alkyd resins.

Adhesives & Sealants Hold Largest Share in Market

The adhesives & sealants category, within the application segment, is expected to record the largest share in the high-temperature resin market revenue, advancing at a CAGR of 4.0%, during 2021–2030. The major factors driving the demand for these materials in the production of adhesives & sealants are their enhanced structural bonding abilities, durability, and flexibility and the longevity of the bonded parts. Modern technologies have improved UV and chemical resistance, along with giving the adhesives with noise and vibration reduction capabilities.

Adhesives and sealants are used in numerous industries, including packaging, automotive, construction/building, electronics, graphic arts, and medicine. Additionally, they are used in the shipbuilding and marine industry to provide a waterproof seal between the substrates and robust lightweight bonds to the structural components of the machinery. The resins are essentially used to protect the equipment from weather, water, chemicals, or accidental damage.

Advanced sealants and adhesives are also used in making tools for modern vehicles, such as mechanical fasteners (e.g., welds, clinches, rivets, and screws), which would be an integral factor influencing the demand for them in the next decade.

APAC Holds Largest Share in Market

APAC currently has the best high-temperature resin market outlook globally. The region is expected to generate revenue of $1,986.4 million in 2030, registering a CAGR of 4.2% from 2021 to 2030. Some major factors fueling this growth are a steady advance in the construction sector and the rapid urbanization in fast-growing economies, such as China, India, and Japan.

The Chinese government plans to move about a quarter of a billion rural residents to newly constructed cities and towns during the next few years. While, the ultimate plan is to have over 65% of the country’s population, which is over 850 million people, living in cities by 2025. This will create a massive demand for office buildings, hospitals, schools, and residential complexes, which will lead to an increase in the application of paints and coatings, thus driving the consumption of high-temperature resins.

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Market Players Are Involved in Product Launches to Gain a Competitive Edge

The market is consolidated, with a few major players holding the major share of the market. In recent years, they have been involved in product launches, to stay ahead of their competitors. For instance,

• In October 2019, Solvay announced the launch of KetaSpire PEEK XT, which offers the chemical resistance of PEEK, along with a 20 °C (36 °F) higher glass transition temperature and a 45 °C (80 °F) higher melting temperature. It also provides higher structural integrity and stiffness at elevated temperatures.
• In October 2019, Saudi Basic Industries Corporation (SABIC) announced the launch of Xenoy HTX, a polyester-based high-heat resin for structural high-performing automobile applications, such as e-coating lines operating above 180 °C, battery protection systems, and body-in-white components.

Top Players in High-Temperature Resin Market Are:

• DuPont de Nemours Inc.
• Solvay S.A.
• BASF SE
• DIC Corporation
• Henkel AG & Co. KGaA
• Saudi Basic Industries Corporation (SABIC)
• Huntsman Corporation
• The Dow Chemical Company

High Temperature Resin Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Type

• Epoxy
• Silicone
• Acrylic
• Polyester
• Polyethersulfone
• Alkyd
• Polyurethane
• Phenolic
• Polyetherimide

Based on Application

• Adhesives & Sealants
• Paints & Coatings
• Composites

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa