Polyamide - Imide Resin Market is Tremendously Growing and is Estimated to reach $428.82m in 2021
Browse 34 Market Tables, 96 Figures spread through 145 slides and an in-depth TOC on “Global Polyamide – imide Resin Market (2016 - 2021)”
Polyamide - imide are thermoplastics that have high mechanical and physical properties and also has high chemical resistance. These compounds are used mainly in industries that need extra strength for their end – products. The key segmentations for polyamide – imide resin market includes by preparation, by coating application, by end - user and by geography.
The Polyamide – imide Resin market is estimated to grow with a CAGR of 4.32% during the forecast period and will reach $428.82m in 2021. Some new innovations in the field such as, carbon reinforced resin have helped the market grow. Rise in demand for materials with enhanced physical and chemical properties acts in a positive manner for the growth of the market. According to preparation, the Polyamide – imide Resin market has been categorized into Acid Chloride Route, Diisocyanate Route and Others. Diisocyanate is the major contributing factor in the market.
Polyamide imide resins utilized for coatings on magnet wire ensures chemical resistance and toughness. In comparison with polyimide resins, these coating have outstanding thermal properties. Rising opportunities for Polyamide imide resins coating are utilized in the hybrid car industry due to their improved thermal properties. Owing to high resistive characteristics, these resins find their applications in chemical plants where there is regular spillage of hazardous and explosive chemicals. Wire Enamel Coatings accounted the highest revenue in 2015 and is projected to be dominant in 2021. Increasing demand of polyamide - imide resin coatings in industrial sector is attributed to the major contributing factor for the growth in the polyamide - imide resin market during the forecast period.
The market has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. The market for polyamide - imide resins differ across regions in terms of demand, supply, trade, price, compositions of the materials and potential of end-use industries. Apart from the needs and requirements of the end users, the resins market is also steered and shaped by the innovation in materials and the collaborative efforts of the industry stakeholders to offer products with enhanced functionalities. Major companies have been active in globalizing their presence through partnerships and strategic acquisitions with the local and regional players there by expanding their footprint in the emerging markets.
In 2015, APAC is the prominent region for polyamide – imide resin market. APAC is estimated to be the fastest growing region with CAGR of 5.1% for the polyamide - imide resin market during the forecast period. Countries in APAC region such as China, India, Australia and others have growing construction industry and are the major driver for the PAI resins market in the region.
The Prominent Players in this Market Include:
- Solvay SA
- Toyobo Co., Ltd
- Mitsubishi Shoji
- Axalta Coating System
Solvay and Toyobo are key players of the polyamide - imide resins market in 2015 with a share of 30% and 22% respectively. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining market shares in the polyamide - imide resins industry.
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