Polybenzoxazine resins are recently-developed addition polymer compounds which is polymerized phenolic system. Polybenzoxazine resins are thermosetting polymers that are lightweight compounds exhibiting high strength. They are ideal alternatives for various types of traditional resins such as epoxy and phenolic resins in challenging applications.
Polybenzoxazine resins are relatively economical as compared to Bismaleimide (BIS) resins, which gives them an upper hand over BIS resins. They possess several properties such as high strength, flame retardance, low water absorption, high temperature resistance, dimensional stability and less curing time and thus, offer superior performance. Polybenzoxazine resins are synthesized by the reaction of phenol, formaldehyde and amine. The formulation of polybenzoxazine resins is halogen-free, which gives them an advantage over traditional resins. The molecular structure of polybenzoxazine resins provides them with high design flexibility along with good mechanical strength, which makes them popular in the aerospace and automotive industry. Polybenzoxazine is widely used in interior panels, lavatories, bulkheads and in primary & secondary structures in the aerospace industry. In the automotive industry, polybenzoxazine resins are used in the production of frames, under the hood components, body panels and structural reinforcement of vehicles such as cars, buses and trucks. Polybenzoxazine resins are used in the preparation of composite pipes, down-hole plugs and risers for oil & gas industry. They are also used in the chemical industry, mainly for autoclave tooling and in high pressure vessels. In the electronic industry, polybenzoxazine resins are used in the manufacturing of halogen-free laminates for PCBs. These resins are gaining attention from the construction industry, due its high mechanical strength & dimensional flexibility.
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Polybenzoxazine Resins Market: Dynamics
Polybenzoxazine resins are gaining traction in the building and construction industry, owing to their physical & mechanical properties. The increasing population and growth in urbanization in developing regions are fuelling the growth of the building & construction industry. Growth of the building & construction industry is expected to drive the growth of the polybenzoxazine resins market. Manufacturers are focusing on reducing the weight of aircraft to enhance efficiency and performance, which in turn is driving the demand for polymer composites in aircraft production. Growth of the aerospace industry is expected to surge the demand for polybenzoxazine resins. The increasing use of polymer composites in the automotive industry for the production of lightweight vehicles with enhanced fuel efficiency is also acting as a driver for the market. Electric vehicles are generally made from polymer composites and thus, growth in electric vehicle production and the automotive industry is expected to escalate the demand for polybenzoxazine resins.
Polybenzoxazine Resins Market: Segmentation
The global polybenzoxazine resins market can be segmented on the basis of end-use industry as:
Aerospace
Automotive
Oil & Gas
Chemical
Electrical & Electronics
Defense
Construction
Polybenzoxazine Resins Market: Regional Outlook
In regions such as Asia Pacific, automotive production has been increasing at a significant rate in countries such as China & India along with the growth of the aerospace industry. Increased urbanization has led to a rise in the construction industry as well as real estate investments. The growth of automotive, aerospace and construction industries makes Asia Pacific a promising market for polybenzoxazine resins. Significant presence of the automotive industry and high aerospace production make North America a prominent market for polybenzoxazine resins.
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The predominance of the automotive industry and significant aerospace production make Europe a potential market for polybenzoxazine resins. Strong presence of the oil & gas industry in the Middle East and increasing construction in Africa collectively make the Middle East & Africa a lucrative market for polybenzoxazine resins. Growth in automotive production and the construction industry, owing to increasing urbanization, make Latin America a high potential market.
Polybenzoxazine Resins Market: Market Participants
Examples of some of the market participants operating in the global polybenzoxazine resins market include