Fior Markets launched a study titled “Polyamide-imide Resin Market by Type (Unfilled, Glass-Filled, Carbon-Filled, Others), End User Industry, Regions”,and Global Forecast 2019-2026.
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. Superior mechanical and thermal properties of polyamide-imide resins along with the rising replacement of conventional materials by polyamide-imide resins are expected to drive the market over the forecast period.
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The glass filled segment is anticipated to grow at a CAGR of 8.92%in 2019-2026
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 automotivesegment had a market value of USD 209.25 million in 2018
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 USD 209.25 million revenue in 2018. The polyamide-imide resin are extensively utilized in the automotive 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, and low creep, fatigue and wear combined with outstanding chemical properties.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Ever increasing demand for the polyamide-imide resin form the well-developed automotive aerospace, electrical & electronics, and textile industries led the Asia Pacific region to lead the global polyamide-imide resin market with USD 215.79 million revenue in 2018. The Europe region also accounted for a healthy share of global polyamide-imide resin market in 2018. Rising replacement of traditional materials in automotive industry with the polyamide-imide is turning out to be the primary driving factor for this increased demand.
Polyamide-imides (PAIs) are thermoplastic amorphous polymers obtained by the condensation of an aromatic diamine and an anhydride. These resins are frequent choice for applications demanding the high mechanical strength, low creep, fatigue and wear combined with outstanding chemical properties are required.The polyamide-imide resins has outstanding resistance, difficult to burn with very little smoke, and high glass transition temperature properties. Even though the factors such as superior properties of polyamide-imide resins, growing replacement of conventional materials by polyamide-imide resins are driving the global polyamide-imide resin market, the competition from hybrid polymers and composites coupled with the volatility in the raw material prices are projected to restrain the market growth over the forecast period. Also, due to high price of the polyamide-imides it is usually used only when outstanding properties are required.
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Major players in the global polyamide-imide resin market are Innotek 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 and Kermel among others. The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global polyamide-imide resin market.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 growth by using the company’s sales channels, notably in Aerospace.
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