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Cyanate Ester Resins Market to Grow at 6.3% CAGR during 2018-2023.

The Cyanate Ester Resins Market: Highlights

The global cyanate ester resins market is projected to grow at an impressive rate of 6.3% during the forecast period. Cyanate ester resin currently accounts for a minuscule share of the total composite resins market but is likely to witness a higher CAGR (6.3% vs 4.7%) over the next five years. Cyanate ester resins offer excellent strength and toughness, better electrical properties, high-temperature resistance, and lower moisture absorption. Their high-temperature-resistant properties are similar to BMI and polyimide resins when they are formulated correctly. They find a use for a host of applications including antennae, radomes, wings, microelectronics and microwave products in the aerospace & defense and electrical & electronics industries. All these factors are proliferating the demand for cyanate ester resins in the global market.

Cyanate Ester Resins Market – Insights by End-Use-Industry Type

Based on end-use industry type, the cyanate ester resins market is segmented into Aerospace & Defense, Electrical & Electronics, and Others. Aerospace & Defense is expected to remain the largest consumer of cyanate ester resins during the forecast period. The industry is also likely to witness the highest growth during the same period. Cyanate esters are gaining grounds in manufacturing composite parts for aircraft and spacecraft, owing to their properties of high-temperature resistance. Spacecraft and missiles are the major users of cyanate esters in the aerospace & defense industry. The resin type is also finding usage in wings of military aircraft.

Cyanate Ester Resins Market – Insights by Application Type

Based on the application type, the cyanate ester resins market is segmented into Composites, Adhesives, and Others. Composites accounted for the largest share of the global cyanate ester resin market in 2017 and will continue to surge ahead during the forecast period. Composites have been successful in marking their presence in most of the end-use industries in almost all types of applications including high-temperature-resistant applications. Various resins, such as cyanate esters, BMI, and polyimides, have been gaining the market traction in high-temperature composite applications. Cyanate esters are increasingly used for the fabrication of structural applications of spacecraft and missiles.

Cyanate Ester Resins Market – Insights by Region

Based on the regions, North America is expected to remain the largest market for cyanate ester resins during the forecast period. The region is the world’s manufacturing capital of the aerospace & defense industry with the presence of many large-to small-sized OEMs, tier players, cyanate ester resin suppliers, distributors, and raw material suppliers. The USA not only leads the cyanate ester resin market in North America but also globally.

Asia-Pacific is a relatively small market but is estimated to be the fastest-growing market during the same period, primarily driven by China and Japan. Upcoming aircraft programs, such as COMAC C919 and Mitsubishi MRJ; increasing presence of major aircraft OEMs, such as Boeing and Airbus, and increasing demand for military aircraft are some of the factors driving the demand for composites including cyanate ester resins. The region is the manufacturing capital of electrical & electronics industry, owing to low-cost labor, excellent infrastructure, developed supply chain, and availability of low-cost materials. All these factors are contributing towards a significant growth of the cyanate ester resins market in the region.

The supply chain of this market comprises raw material suppliers, resin manufacturers, tier players, OEMs, and end-users. The key cyanate ester resin manufacturers are Lonza Group, Huntsman Corporation, Henkel AG & Company, Cytec Solvay Group, Hexcel Corporation, and TenCate Advanced Composites. New product development, regional expansion, and the development of long-term relationships with tier players are some of the key strategies adopted by the major players to gain a competitive edge in the market. Most of the major players are developing low-temperature-resistant cyanate esters at a reduced coat targeting high-temperature composite applications, especially aerospace & defense industry.

Companies have resorted to strategies, such as mergers & acquisitions, to uplift their existing customer base in the global cyanate ester resins market. Key companies functional in this market focus on providing tailor-made products and enhancing their presence in emerging markets. Solvay S.A. successfully completed the acquisition of Cytec Industries in 2015. This acquisition strengthened Solvay position in the advanced composites business. This also leads the market entry of the company in the cyanate ester resin market.

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Global Floor Adhesives Market to Reach US$ US$ 6,947.8 million in 2023.

The Global Floor Adhesives Market: Highlights

The global flooring market is nearly 13 billion square meters in which ceramic tile is the most commonly used flooring for both residential as well as commercial sectors. Adhesives have progressively been becoming the preferred choice of materials to install most of the flooring types used today for residential, commercial, and industrial purposes. Apart from tiles & stones which are more often used with the cementitious product for adherence, all the other major flooring types such as resilient, wood, and carpet are predominantly installed using polymer adhesives.

There are various types of adhesives used to adhere different flooring with substrates. The selection of adhesives is largely dependent on the flooring type as well as flooring application. Furthermore, the demand for a flooring type varies from region to region as a result of cultural differences, climatic conditions, and regional regulatory requirements. It has been observed that much of the growth in the demand for flooring is driven by refurbishment rather than new construction demand.

The global floor adhesives market is projected to grow at a healthy growth over the next five years and reach US$ 6,947.8 million in 2023. This represents an attractive growth opportunity in the entire ecosystem of the market. Growing global construction industry, increasing consumption of adhesives globally, increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and the ability of adhesives to bond dissimilar materials are some of the key factors burgeoning the demand for the floor adhesives market.

Another factor which attracts adhesives usage is ease of installation of polymer-based adhesives compared to traditional mechanical fastening systems or cementitious powders. Adhesives also maintain aesthetics of the flooring and do not create or damage its impression. However, government regulations regarding workers safety, harmful VOC emissions and high-curing time of adhesives are some of the major challenges faced by the industry.

Global Floor Adhesives Market – Insights by Material type

The global floor adhesives market is segmented based on the material type as Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives. Acrylic adhesive segment currently dominates the global floor adhesives market, driven by increasing usage of carpet and resilient flooring applications. Polyurethane (PU) adhesive is mainly preferred in wood flooring applications, owing to its excellent properties, such as long-lasting surface finish; superior chemical, solvent, and scratch resistance; fast drying; resistance to UV light damage, general wear-and-tear, and extreme temperature variations.

Global Floor Adhesives Market – Insights by Application type

Based on the application type, the market is bifurcated into Tile & Stone, Carpet, Wood, Laminate, Resilient Flooring, and Others. Resilient flooring is likely to remain the most dominant application type in the global floor adhesives market over the next five years. Among resilient flooring applications, luxury vinyl tile (LVT) is gaining popularity, owing to its versatility and durability with endless designs using advanced photo technology. It can replicate the natural-looking wood, stone, marble, and various other finishes in terms of both design and fixture.

Global Floor Adhesives Market – Insights by Technology type

Based on the technology type, the global floor adhesives market is segmented as Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives. Water-based technology currently dominates the floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, as it has been the most preferred replacement of solvent-based adhesives, due to a host of factors, such as environmental safety, zero VOCs, and low odor.

Global Floor Adhesives Market – Insights by Region

Based on regions, Asia-Pacific is expected to remain the largest and fastest-growing floor adhesives market globally in the foreseeable future. Despite declining growth of the Chinese economy, the country is expected to remain growth engine of the region’s market over the next five years. India is likely to be the new growth engine in the region, supported by increasing government investments in the development of infrastructure and largescale construction activities across the country.

Supply chain of this market comprises raw material suppliers, floor adhesive manufacturers, dealers, distributors, and flooring installers. Some of the major floor adhesive suppliers include Ardex GmbH, Arkema Inc. (including Bostik), Bona AB, H.B. Fuller Company, Henkel AG & Co. KGaA, Mapei Corporation, Pidilite Industries Limited, Roberts Consolidated, Sika AG, and W.F. Taylor Co., Inc. Development of innovative products, regional expansion, and building of vast distribution network to the unpenetrated markets are some of the major strategies adopted by the companies in order to quickly gain market share and to gain a competitive edge in the market.

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North American Floor Adhesives Market to Reach US$ 1,097.9 Billion in 2023

The North American Floor Adhesives Market: Highlights

The North American floor adhesives market is projected to reach an estimated value of US$ 1,097.9 million in 2023. The upward trajectory of the floor adhesives market in the region is likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years. Growing North American construction industry, an increasing consumption of adhesives in North America, increasing usage of water-based adhesives in order to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are the driving factors that are burgeoning the growth of floor adhesives in the North American market.

The market dynamics of floor adhesives in North America is different than that of other parts of the world. The region has an overall high penetration of adhesives in flooring applications as compared to Asia-Pacific, which is the largest flooring adhesives market. Also, the per capita consumption of floor adhesives is quite higher in North America as compared to that of Asia-Pacific.

North American floor adhesives market – Insights by Material type

The North American floor adhesives market is segmented based on the material type as Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives. Polyurethane adhesives currently dominates the North American floor adhesives market, driven by its higher usage in wood flooring applications. Acrylic adhesives are likely to witness the highest growth during the same period, owing to their increased usage in LVT flooring and carpet applications.

North American floor adhesives market – Insights by Application type

Based on the application type, wood flooring is likely to be the dominant application type in the North American floor adhesives market during the forecast period. There is an increasing usage of adhesives instead of mechanical fastening systems in the wood flooring application. Wood flooring requires more adhesive content per square feet, which further elevates the demand for adhesives in the segment. Vinyl flooring application is expected to witness the highest growth during the forecast period, driven by an increasing demand for luxury vinyl tiles (LVT) in North America.

North American floor adhesives market – Insights by Technology type

The North American floor adhesives market is segmented based on the technology type as Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives. Water-based technology currently dominates the North American floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, driven by stringent regulations regarding reducing VOC emissions in order to create safer environment.

North American floor adhesives market – Insights by Region

Based on regions, the North American floor adhesives market is further segmented as the USA, Canada, and Mexico. The USA is likely to maintain its leading position in the region during the forecast period, whereas Mexico is expected to witness the highest growth in the foreseeable future.

The supply chain of this market comprises of raw material suppliers, floor adhesive manufacturers, dealers & distributors, and flooring installers. Some of the major floor adhesive suppliers in North America include Arkema Inc. (including Bostik), Ardex GmbH, Bona AB, H.B. Fuller Company, Mapei Corporation, Roberts Consolidated, and W.F. Taylor Co., Inc., and Sika AG.

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Airborne Pods Market to Reach 3,167.9 million in 2023

The Global Airborne Pods Market: Highlights

Airborne pods refer to an external pod structure, which is designed to provide a better aerial detection, recognition, identification, targeting, communication, data linking, and self-defensive capabilities to an aircraft. It is used to convert a normal aircraft into a warfare or surveillance aircraft. Previously, systems and components of these pods were individually used in different sections of an aircraft. For instance; camera, radars, and sensors could be equipped in wings, fuselage, or the nose of the cockpit of an aircraft, whereas sensors, radars, and their components, are used separately in some warfare helicopters, such as Apache and Black Hawk.

In an airborne pod, there are many components including data link systems, sensors, radars, environment cooling system, and modem assembly that help an aircraft to overcome the problems and difficulties, such as detecting, recognizing, and aiming a target in different ranges. Every component inside a pod has its own importance, such as data link system provides real-time data linking from air-to-air, air-to-ground, and air-to-water operations in different ranges where range depends upon a lot of factors, such as size and lenses of camera and sensors. The communication system offers the capability of clear and real-time communication between an aircraft and the base. Environment cooling system keeps the atmosphere cool inside the pod when it gets heated due to fast processing of systems and high-speed of aircraft, especially in the combat aircraft, at higher altitudes. It is very necessary for a sensor or camera lenses to withstand at required atmosphere for clear image processing.

Previously, metals, such as aluminum and steel, were mainly used to manufacture airborne pods. But, due to their higher weight and significant maintenance cost, the industry has started shifting towards composite materials. In the last few decades, composite materials have become the perennial choice in fabricating components and structure of pods as the materials not only offer the advantages of lightweight and high strength-to-weight ratio, but also improve the overall pod aesthetics. The modernized aircraft pod design is rich in composites with reduced aerodynamic drag, due to its smooth airflow design. This further helps in carrying more components inside a pod, due to its lightweight and more cabin space inside the pod. This, in turn, helps the manufactures to offer multi-functionality in single pod.

The global airborne pods market is projected to grow at a healthy rate over the next five years to reach US$ 3,167.9 million in 2023. Growing military expenditure, especially in the developing economies including China and India, an emergence of ISR due to security reasons, an increasing demand for advanced targeting systems, and rising military aircraft upgrade are the major growth factors that are burgeoning the demand for airborne pods in various countries. Asia-Pacific and North America are the biggest demand generators with a current combined share of more than two-third of the total airborne pods market.

Global Airborne Pods Market – Insights by Aircraft type

The global airborne pods market is segmented based on the aircraft type as Combat Aircraft, Helicopter, UAV, and Others. Combat aircraft and UAVs are likely to remain the growth engines of the market during the forecast period. Rising global tension is compelling various countries to rapidly upgrade their defense capabilities in order to protect themselves from uncertainty and to further solidify their borders. Major developed markets, such as the USA, freeze very high defense budget with a purpose to remain the leading market and to provide the highest security to their civilians, whereas developing economies, such as China, Saudi Arabia, and India, are continuously increasing their defense budgets to quickly advance their existing defense capabilities. This is primarily driving the demand for airborne pods in the combat aircraft and UAV segments in the coming years. Additional drivers are emergence of ISR, rising demand for better targeting systems, and an increasing demand for lightweight pods, which are acting as the catalyst to the overall demand for airborne pods in these segments.

Global Airborne Pods Market – Insights by Pod type

Based on the pod type, the market is bifurcated into Intelligence, Surveillance, & Reconnaissance (ISR), Targeting, Self-Protection/Countermeasure, and Others. ISR is likely to remain the most dominant segment of the global airborne pods market over the next five years. ISR pod offers a wide array of advantages, such as precise identification, detection, and recognition of targets. It also converts a normal combat aircraft or a helicopter to a surveillance and reconnaissance aircraft/helicopter by adding such features to it. Its capability is based on the sensors which are situated inside the pod. The larger the sensor and lenses of the camera, the larger the range of the pod. Whereas, targeting pods are likely to be the fastest-growing segment of the global airborne pods market, mainly driven by increasing military aircraft procurement and upgradation of the existing fleet of military aircraft across the world.

Global Airborne Pods Market – Insights by Enclosure type

Based on the enclosure type, the market is segmented into Composite Pods and Metal Pods. Composite enclosure is likely to remain the more dominant and faster-growing segment of the airborne pods market during the forecast period. It provides numerous advantages over its counterpart (metal pods), such as good product performance, low maintenance cost, and excellent corrosion resistance. Composite enclosure further helps in reducing the aerodynamic drag due to its smooth structure. It is expected that there would be a continuous shift from metal enclosures to composite enclosures in the coming years.

Global Airborne Pods Market – Insights by Sensor type

Based on the sensor type, the market is segmented into Electro-Optical (EO)/ Infrared (IR), Electronic Warfare (EW)/Electronic Attack (EA), Infrared Countermeasure (IRCM), and Others. The EO/IR segment is projected to maintain its dominance in the market over the next five years. Increasing demand for ISR pods and rising emergence of ISR due to security reasons are the major growth drivers of EO/IR sensors in the global airborne pods market. Electronic warfare/electronic attack (EW/EA) sensors are likely to be the fastest-growing segment of the global airborne pods market during the forecast period 2018-2023.

Global Airborne Pods Market – Insights by Region type

Based on regions, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of combat aircraft across the world. Rising military aircraft fleet size with a high focus on their upgrade is likely to further boost the overall demand for airborne pods in the region in the foreseeable future. Additionally, all the major pod manufacturers are located in the region to support the defense department and OEMs, helping the country to own more advanced airborne pods.

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing defense budget of China, India, and South Korea, continuous upgrade of existing aircraft fleet, and higher investment in developing and procuring UAVs, due to rising tensions in different parts of the region.

The supply chain of this market comprises raw material suppliers, pod manufacturers, tier-1 players, and end-users. The key airborne pod companies are Thales Group, Lockheed Martin Corporation, UTC Aerospace Systems, Northrop Grumman Corporation, Raytheon Company, Harris Corporation, S.G.D. Engineering Ltd., Airborne Technologies, Ultra Electronics Holdings PLC, CPI Aerostructures, Rafael Advanced Defense Systems Ltd., and SAAB AB. Development of advanced pods and formation of long-term contracts are some of the most common strategies adopted by the major players in order to remain competitive in the market.

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