As per the report published by Fior Markets,the global polyamide-imide resin market is expected to grow from USD 540.28 Million in 2018 to USD 918.39 Million by 2026, at a CAGR of 6.86% during the forecast period 2019-2026.The Asia Pacific region led the global polyamide-imide resin market with a market share of 39.94% in 2018 due to growing demand for automotive, growing investments in the electrical & electronics as well as increasing aerospace and textile industries.
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“Polyamide-imide Resin Market by Type (Unfilled, Glass-Filled, Carbon-Filled, Others), End User Industry, Regions”,Global Industry Analysis and Global Forecast 2019 to 2026.
Major players in the global polyamide-imide resinmarket areInnotek Technology Ltd., Axalta Coating Systems, LLC, Toyobo Co., Ltd., Nuplex Resins, LLC, Fujifilm, Hitachi Resins, LLC, Drake Plastics Ltd. Co., Mitsubishi Shoji, Solvay SA, Kermel, Elantas, Shanghai Songhan Plastics Technology Co., Ltd., Ensinger GmbH, Quadrant, Saint-Gobain, Kermel, and among others. In order to increase their market footprint, major firms are preferentially taking the route of merger and acquisitions. In order to enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. For instance in 2019, Saint-Gobain announced the acquisition of American Seal and Engineering Co., a global leader in providing technical solutions in the critical and extreme sealing industry. This acquisition is in line with Saint-Gobain’s strategy of developing technological niches. American Seal and Engineering will join High Performance Solutions, extending their product range by offering solutions for critical applications in the sealing industry. It will strengthen Saint-Gobain’s position with customers in core markets and accelerate the growth by using the company’s sales channels, notably in Aerospace.
The global polyamide-imide resin market has been segmented on the basis of type, and end user industry.The type segment is divided into unfilled, glass-filled, carbon-filled, others. The glass filled segment is projected to grow at the highest CAGR of 8.92% over the forecast period. This increase in growth rate can be credited to the fact that the addition of glass fiber to polyamide-imide resins helps in expanding the flexural modulus of polyamide-imide resins while reducing their rate of expansion. The unfilled grades have the highest toughness whereas the filled grades (30%) have higher modulus, strength, and lower creep. Also, some of the types contain small amounts of PTFE to further improve the wear resistance for more demanding applications.The end user industry segment is categorized into automotive, aerospace, electrical & electronics, oil & gas and others. The automotive segment emerged as the largest segment in the global polyamide-imide resin market with a market share of 38.73% in 2018. The polyamide-imide resin are extensively utilized in automotives for producing molded or machined parts such as non-lubricating bearings, seals, bushings, pistons, gears, and thrust washers. This can be attributed to their high mechanical strength, low creep, fatigue and wear combined with outstanding chemical properties.
The polyamide-imide resins has properties such as extremely low coefficient of thermal expansion, excellent resistance to wear and creep under load, and good chemical resistance to numerous acids, alcohols, automotive fuels & oils, as well as halogenated solvents. Polyamideimides are either prepared from an aromatic diamine and aromatic acid chloride anhydride or from an aromatic diisocyanate and anhydride. Polyamide-imide resins offer unrivaled performance in both dry and lubricated environments.In addition, polyamide-imide resins delivers the high-temperature wear resistance properties. The key contributing factors for the global polyamide-imide resin market growth aresuperior properties of polyamide-imide resins and growing replacement of conventional materials by polyamide-imide resins. The primary reason for the limiting the global polyamide-imide resins market is the competition from hybrid polymers and composites coupled with the volatility in the raw material prices. However, potential application in the electric vehicles and increasing demand from the Asia Pacific region are developing new opportunities for the global polyamide-imide resins market expansion in the coming years. Also the increasing demand of polyamide-imide resins in oil & gas, aerospace, automotive, and electrical & electronics industries has further supplemented the global polyamide-imide resin market expansion.
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