The global polyamide-imide resin market is likely to witness an impressive CAGR of 6.2% during the forecast period. Organic growth of end-use industries including aerospace, automotive, and E&E, increasing acceptance of PAI resins by replacing traditional bulky metals, the introduction of stringent regulations supporting lightweight plastics, and superior performance of PAI resins are the major factors that are proliferating the growth of polyamide-imide resins globally.
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.
The Polyamide-imide (PAI) Resin Market – Insights by Type
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.
The carbon-filled polyamide-imide resin is likely to witness a higher growth over the next five years, driven by an increasing acceptance in the automotive and aerospace industries, owing to its numerous advantages. It is expected that carbon-filled polyamide-imide resin will continue to replace traditional metals, such as steel and aluminum.
The Polyamide-imide (PAI) Resin Market – Insights by End-use Industry Type
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, green dam remarkable electrical assets, and improved flexibility in design.
The Polyamide-imide (PAI) Resin Market – Insights by Region
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 regions 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.
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..
Report link- website (PAI) Resin Market to Grow at 6.2% CAGR during 2018-2023