Key factors contributing to the high CAGR are demand from end use industries, replacement of conventional materials and awareness for sustainable products. Furthermore, technological developments, product launches, collaborations are further fueling the high demand in the global polyamide-imide resins market.
Based on current analysis, the global Polyamide-Imide Resins Market was valued at USD 559.1 Million in 2020 and is expected to reach USD 964.9 Million by 2028, at a CAGR of 7.1%. Polyamide-imide is a melt processable plastics with sufficient capacity of chemical, thermal and physical resistance. Primary use of polyamide-imide is the material’s use in the manufacturing of magnet wire, also used as wire coatings. These compounds can be used for variety of applications such as coatings, films, fibers, adhesives and installation of precast parts and ingots. Polyamide-imide resins applied for coating on magnet wire satisfies toughness, chemical and oil resistance. Polyamide-imide resins are also utilized in the hybrid car industry due to their improved thermal properties. These compounds are replacing conventional materials, such as, thermoset polymers, metals and other types of plastics, in applications that require high thermal resilience. The polyamide-imide has been on the growth path and is projected to remain the same in coming years. Major market drivers in this market are improvements in the product field, for instance, carbon reinforced resins, and increase in demand for compounds with superior chemical and physical properties. Demand from end use industries, replacement of conventional materials by polyamide-imide and greater properties of polyamide-imide resins are proving to fuel the market. In addition, technological developments, product launches, collaborations are further fueling the high demand in the global polyamide-imide resins market.
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Top Lading Players: Solvoy, Quadrant, Toyobo, Ensinger, Innotek Tech, Kermel, Axalta Coating Systems, Nuplex Resins, Fujifilm, Hitachi Resins, Drake Plastics, and Songhan Plastics technology Co.
Some Key Highlights from the Report:
- Polyamide-imide resin market was valued at USD 559.1 Million in 2020 and is expected to reach USD 964.9 Million by 2028, at a CAGR of 7.1% Its ability to work under heavy stress conditions at continuous varied temperatures based on the type of material is proving to be profitable for this market
- Asia-pacific holds the highest percent of CAGR in the polyamide-imide resin market and is likely to grow further in during the forecast period due to China and India’s fast developing economies
- Automotive manufacturers in the APAC region have concentrated to manufacture energy efficient vehicles, which will, consequently, propel the demand for sustainable and lightweight components
- There is a significant growth in the application area of the market. They are increasing in the different end use industries mostly in aerospace, automotive, electronics and electrical, and oils owing to their superior properties
- The polyamide-imide resin market is highly merged with the presence of significant players. Key market payers have been continuously making effort to innovative products and solutions with a vision to increase wider validation of polyamide-imide resins in several applications
- A coating company named Axalta has acquired Ellis paint which is predominant in manufacturing industrial and automotive refinish paint. This acquisition will prove to be helpful to Axalta to expand their portfolio sustainable and innovative coatings inthe industrial segments
Segments covered in the report:
Type (Revenue, USD Million; 2020–2028)
- Unfilled
- Glass filled
- Carbon filled
- Other
Application (Revenue, USD Million; 2020–2028)
- Food packaging
- Paper and pulp
- Architectural
- Marine
- Other
End User (Revenue, USD Million; 2020–2028)
- Automotive
- Aerospace
- Electrical and electronics
- Oil and gas
- Other
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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