The global polyimides market is expected to register a CAGR of 4.82% during the forecast period, 2018 to 2023. Asia-Pacific is dominating the market, accounting for around 35% of the global market in 2017.
Accelerating Usage in Automotive and Aerospace Industry
Polyimides have a wide range of applications because of their unusual properties. The polyimides derived from aromatic dianhydrides and diamines, containing stable flexible units, exhibit high thermal stability, excellent mechanical properties, film & fiber forming ability, excellent adhesive properties, and non-flammability. Owing to these exceptional properties, polyimide and its products are preferred in many applications, including electronics, aerospace, automotive, medical, and many others.
The major applications of polyimide products in automotive include thrust washers, electrical switches, and so on. Polyimide tape is utilized for wrapping switches, diaphragms, sensors, coils, and others. In the aerospace industry, polyimide finds application in wire insulation, motor windings, electrical switches, structural adhesives, structural composites, foam insulation, bushings, baffles, flanges bearings, thrust washers, thrust discs, seal rings, and many others.
According to Boeing, the global aircraft fleet is expected to increase by more than two-fold in the next twenty years, to reach 45,240 by 2035. The global sale of automobiles is also increasing with the increasing urbanization and disposable incomes in developing economies. These increasing applications, combined with the growing demand for new motor vehicles and aircraft, are expected to drive this market in the near future.
Growing Awareness regarding Food safety and Bio-compatible Products
Polyimides (PI) are majorly used in the packaging industry, primarily for packaging of water (bottled), food, and alcoholic beverages. Though it is a downstream product of crude oils, with growing environmental concerns and depleting oil reserves, polyimides manufacturers are shifting toward the development of bio-based PI. The bio-based PI market is still in its growth stage, and is commercially available as a partially bio-based product. Moreover, governments of many countries are focusing on creating awareness regarding the usage and benefits of bio-based PI. The demand for packaged foods is increasing at a rapid rate with rising middle class incomes in emerging countries. This, along with the rising consumer preference for safe and environmentally compatible products, is boosting the demand for bio-compatible polymers, such as bio-based PI during the forecast period.
China to Dominate the Market Growth in Asia-Pacific Region
China is the largest producer of polyimides in the Asia-Pacific region. Demand due to the growing population and increasing urbanization rates has made China the largest consumer of polyimides over the years. Polyimides have a wide variety of applications in commercial, military, and other applications. They are used in the electronics industry as adhesives, flexible cables, as an insulating film medical tubing, in 3D printing, aerospace, chemicals, automotive, water treatment, healthcare, and other industries, owing to their excellent electrical and thermal insulation characteristics. Additionally, the demand for PI in China has remained strong over the past few years, owing to increased electrical, electronics, and packaging applications. The rising electronic assembly activities and the expanding packaging sector in China are expected to raise the demand for polyimides at a healthy rate in the coming years.
- September 2017: FLEXcon Company Inc. launched a polyimide film under the brand name Thermlfilm HT 9000 which can be used to manufacture printed circulated boards.
Major players: DowDupont, Mitsui Chemicals, SABIC, Saint Gobain and Toray International Inc., among others.
Reason to purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Which application is expected to dominate the market
- Which regions are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (In excel).
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1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing Usage of Polyimide in Automotive and Aerospace
4.1.2 Innovation and Technological Development in Electronics Industry
4.2.1 Expensive in Comparison to Other Polymers
4.2.2 Low Bonding Strength In Comparison to Substitutes
4.3.1 Increasing Adoption of Electric Vehicles
4.3.2 Increasing Usage in Food-safe and Bio-compatible Products
5. Market Segmentation & Analysis (Market Size, Growth and Forecast)
5.1 By Product Type
5.2 By End-user Industry
5.2.1 Automotive & Other Transportation
5.2.2 Electrical & Electronics
6. Regional Market Analysis (Market Size, Growth and Forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.7 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle-East & Africa
7. Competitive Landscape
7.1 Mergers, Acquisitions, Joint Ventures, Collaborations & Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.1 Arakawa Chemical Industries, Ltd
8.3 Evertech Envisafe Ecology Co. Ltd
8.4 Kaneka Corporation
8.5 Mitsui Chemicals Inc.
8.6 Nitto Denko Corporation
8.8 Saint-Gobain Group
8.9 Shinmax Technology Ltd
8.11 TORAY INDUSTRIES, INC.
*List not exhaustive
**Subject to availability on public domain