What is the future of Polyamide-imide Resin Market? Know Covid Impact on Size, Share & Forecasts
June 29, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Polyamide-imide Resin Market.
It was estimated prior to this unanticipated outbreak that the Polyamide-imide Resin Market was expected to grow at a CAGR of 6.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Polyamide-imide is a melt processable plastic having remarkable chemical, physical and thermal-resistant properties. With the nominal rate of expansion, polyamide-imide resin withstands strength along with thickness. They afford extreme stress conditions even at elevated temperatures depending on the form of material. The resin is extremely perfumed molecules that owe high thermal stability and is capable of binding to most metal substrates when cured. It is also used in the manufacturing of magnet wire.
The high cost of PAI resin is the biggest hindrance to its wider adoption. The high cost of raw materials, such as n-methyl-2-pyrrolidone (NMP), trimellitic acid anhydride (TMA), and isocyanates because of the derivation through the solvent recovery process from hydrocarbons is the root cause leading to a higher cost of PAI resins.
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Based on the type, the market is segmented as unfilled, glass filled, carbon filled, and others. It is estimated that glass filled is likely to remain the largest segment of the market over the next five years. The rate of expansion of polyamide-imide resin is considerably reduced when glass fiber is added. It further improves its flexural modulus, leading to a higher penetration of the glass-filled polyamide-imide resin in the market. Owing to the properties, such as remarkable weather and gamma rays’ radiation resistant, superb bearing capacity, high strength, and toughness, and outstanding chemical assets further strengthen the demand for glass-filled polyamide-imide resins.
Based on the end-use industry type, the polyamide-imide resin market is segmented as automotive, aerospace, electrical & electronics, oil & gas and others. Electrical & electronics is expected to be the fastest-growing segment of the market over the next five years. The penetration of PAI resins has been increasing in various applications including wire enamels, chip nest and sockets, water carriers, and chemical washing over the past decades, owing to its ace properties including enhanced flame retardant, increased chemical resistance, high dielectric strength, ameliorated dimensional stability, remarkable electrical assets, and improved flexibility in design.
Aerospace and automotive, other major segments are likely to generate a healthy demand for PAI resins in the foreseen future. There has been an increased acceptance of PAI resins in high-temperature applications, such as engines and compressors, in the industry by replacing traditional metals. Similarly, stringent regulations regarding fuel efficiency enhancements and carbon emissions are leading automakers to replace heavy metals with the lightweight plastics. Also, premium automakers incorporate expensive resin-made parts in order to distinguish themselves from mass-volume automakers.
In terms of regions, Asia-Pacific is expected to remain the largest market for PAI resin in the coming five years. Continuous shift of the E&E industry in Asia, particularly in China, increasing deliveries of aircraft to support the rising passenger traffic, and the high production of automobiles are the major drivers of the region’ demand for PAI resins in the foreseen future. China is likely to act as the growth engine of the region’s market over the next five years. North America and Europe, other considerable markets, are likely to generate sizeable growth opportunities in the next five years, supported by increasing automobile and aircraft production coupled with an increasing acceptance of PAI resins in various applications.
Key Players:
The global PAI resin market is highly consolidated with the presence of a handful of players. Major players have rigorously been making efforts to develop innovative solutions in order to increase the acceptance of PAI resins in various applications with an ultimate aim to gain the larger chunk of the market. Also, major players have a vast distribution network covering all four regions to assure the supply of PAI resins. Some of the key polyamide-imide resin manufacturers are Solvay SA, Quadrant Group, Toyobo Co., Ltd, Ensinger GmbH, Innotek Technology, and Kermel S.A.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polyamide-imide Resin Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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