The Polyamide Imide Resins Market is expected to reach $489.46 million by 2023
Asia Pacific will dominate the Polyamide Imide Resins Market during the forecast period. It is expected to generate $167.71 million by 2023 at a CAGR of 5.1%. Asia Pacific has an economic outlook which is favourable due to the economic developments in China and other developing countries. The region has more number of oil importers and is expected to benefit from low oil prices. Growth of the construction industry is the main driver for the polyamide imide resins. Growing number of construction contracts in countries such as China, Vietnam, India, Malaysia, and Indonesia are the other factors responsible for the growth of the Polyamide Imide Resins Market.
Selected Analysis done in the full Report:
The architectural segment in 2016 earned revenue of $13.68 million. It is expected to reach $17.06 million by 2023 at a CAGR of 2.74%. Architectural coatings include products such as interior and exterior paints, primers, finishes, sealers, etc. These coatings can prevent the deterioration caused by the environmental factors. They can also maintain durability and aesthetic properties, and reduce the maintenance costs. The demand for polyamide coating is growing due to increasing construction activities across the globe.
Excerpts on Market Growth Factors
- Increasing demand for polymers with enhanced insulating properties drive the growth of polyamide imide polymers.
- Increasing demand for chemical resistant coating enhances the demand for the polyamide plastic during the forecast period.
- Increasing demand of polyamide-imide in automotive and aviation segments spurs the demand for the polyamide resin.
Key players of the Polyamide Imide Resins Market
Solvay and Toyobo are the main key players in the Polyamide Imide Resins market. Solvay meets the demands of different industries such as oil and gas, aerospace, automotive, pharmaceuticals, and healthcare. Toyobo manufactures products such as fabrics. It also aims to provide bio-products overseas.
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