FIELD: polymer production. SUBSTANCE: process for production of polycyanate esters, which can be used as binding agents in manufacture of friction materials, molded articles, coatings, and adhesives, comprises following operations: (i) feeding first raw material flow containing tertiary amine- phenol-formaldehyde oligomers adduct and solvent; (ii) feeding second raw material flow containing cyanohalide in solvent; (iii) feeding recycle flow containing at least one compound selected from tertiary amine hydrohalide salts, solvent, impurities, and polycyanate ester; (iv) interaction of the first, second, third, and recycle flows under conditions ensuring formation of product containing at least one compound selected from tertiary amine hydrohalide salts, solvent, impurities, and 10 to 40% of polycyanate ester; (v) withdrawing part of product flow to form recycle flow at volume ratio of this flow to product flow between 100:1 and 25:1. EFFECT: improved stability and gelation time of product, minimized side reactions, and enabled conduction of process at temperature close to 20 C. 21 cl, 2 dwg, 2 ex
