The polyimide coatings market is expected to reach USD 2,457 million by the end of 2028.Polyimide Coatings Market has anticipated a CAGR growth of 6.7% and is soon expected to see much boom.
COVID-19 has bought about a change in every business. Not just the physical and mental stress, but the pandemic has bought some severe financial setbacks. Things are not yet over with the pandemic, but that does not mean that we should sit back and wait for the horrible time to get over. Things should move on. If not, how they were earlier, there are chances that each business needs to bring along. The ways of working have to be changed to combat the losses and ensure the smooth running of the company in the future. The reports prepared by the industry experts and the analysts result from thorough research and expertise. The words give every small to big things to enable the business to understand the current market situation and self-analyze themselves. The qualitative and quantitative approach in the reports tends to guide the business owners and the staff greatly.
All the major players in the market have been working on strategies to implement them adequately to make sure that they bring the best in themselves and the entire market. Various collaborations, acquisitions, and mergers have made the market much better in terms of market value. Regions in Asia pacific like China have been the dominant areas where the demand for the products is high and has many significant players operating their resources there.
The extensive use of polyimide coatings in the electronics industry has been the primary driving factor in the market's growth. With some fantastic chemical properties that polyimides exhibit, like chemical resistance, mechanical toughness, extraordinary dielectric properties, and thermal stability, it has proved to be a valuable component in the aerospace and defense industry.
High-performance polyimide powder coatings are available in liquid and solid forms. These coatings are applied on the surfaces of the parts used in automobiles and electronic pieces of machinery to get the desired results.
Developing countries like India, Brazil, China, and many others are expecting growth in the polyimide coatings market. However, the high cost is undoubtedly a factor that causes a shunted growth of the market.
With a low coefficient of linear thermal expansion and a high degree of flexibility, the use of polyimide powder coatings is helpful in various electronic appliances. These are organic insulation preferred over inorganic insulators because of their low dielectric constant and better amenability. Polyimides also act as interlayer dielectric in semiconductors and multichip modules. Increased demand for electric mobility vehicles like bus and cars is also a significant factor for the polyimide coatings industry growth. Also, the rise in the demand for robotics and automation is another factor that drives the development of the polyimide coatings market.
The high-performance polyimide powder coatings are also helpful in the aerospace and defense industry. This is because once the products are coated with polyimide, they tend to offer outstanding thermal properties. The coating of polyimide is also used in optical fibers as it makes it durable when exposed to high temperatures. The demand for optical fibers has been increasing in the aerospace and defense industry, subsequently leading to the growth of the polyimide coatings market.
The regulatory implications laid down on the polyimide coatings market by various regulatory bodies, local and regional governments, and other administrations are not strict. This is mainly because they do not cause harm to the environment in terms of degradation or pollution. Regulations on the waste products during the cure process for polyimide coatings may be an issue, but if followed religiously, it does not come in the way of growth.
The polyimide coatings market can be classified into the following subcategories:
Based on type: Based on the type, the polyimide coatings market can be classified into the following subtypes:
Based on application: Based on the application, the polyimide coatings market is further classified into the following:
Based on end-user: Based on the end-user, the polyimide coatings market is further divided into the following categories:
The electrical and electronic segment holds the largest share in the polyimide coatings market. The medical segment is expected to grow at a CAGR of 6.6% during the forecast period. The factors that drive the growth of the market in the medical segment include the increase in the demand for catheters and clinical diagnostic devices.
Based on the regions, the polyimide coatings market can be classified into the following:
The Asia Pacific dominates the polyimide coatings industry holding a share of 51%, which is expected to stay the same or grow more in the forecast period. There are various factors involved in the dominance of Asia Pacific, including rapid industrialization and growth in the end-use industries like electronics, aerospace, and medical. The market in the Asia Pacific is expected to reach a value of USD 846.6 million by the end of 2025. Among all the countries in the region, China holds the largest share in the market because of increased industrial growth and increased demand in the aerospace and fiber optics industry.
The region that holds the second position is North America, which is likely to grow at a CAGR of 5.4% during the forecast period. The factor that drives the growth of the market in the region is the increased investments in the civil aviation sector.
Here is the list of few recent developments in the market:
The report is prepared exclusively for the business owners associated with the polyimide coating market. The information has all the elements required for the successful running of the business—starting from the market overview to the covid-19nanalysis of the market. It also includes the market dynamics, including various growth drivers and the restraints in the market. The market segmentation is also given based on type, application and end-user and also according to the region. The major players in the market are also discussed in the report. The technological advancements taking place in the market are also mentioned in the report.
|Market Size||2030: USD 2,457 Million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-Use and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kaneka Corporation (Japan), Ube Industries Ltd (Japan), FLEXcon Company, Inc. (US), I.S.T Corporation (Japan), Saint-Gobain (France, DuPont (US), TAIMIDE (Taiwan), SKCKOLONPI (South Korea), Kaneka Corporation (Japan), Toray Industries, Inc. (Japan), SOLVER POLYIMIDE (China), Mitsui Chemicals, Inc. (the US) and ELANTAS Beck India Ltd (India)|
|Key Market Opportunities||The demand for optical fibers has been increasing in the aerospace and defense industry, subsequently leading to the growth of the market|
|Key Market Drivers||
By the end of 2028, the market is expected to reach a value of USD 2.457 million.
The expected CAGR of the market during the fire period is 6.7%
Robotics and automation are expected to be the future market trends.
The layer of polyimide provides a thermal property to the products hence valuable I'm aerospace and defense industry
The two types of polyamide coatings are thermostat and thermoplastic
The thermostat polyimide coating segment dominates the market based on the applications.
The increase in industrialization and rising demand in the end-user industries like medical, aerospace, and electronics have made the Asia Pacific dominate the market.