New Jersey, NJ, July 15, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Polyamide-imide Resin Market by Type (Unfilled, Glass-Filled, Carbon-Filled, Others), End User Industry, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026". As per the report, 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.
Polyamide-imides (PAIs) are thermoplastic amorphous polymers obtained by the condensation of an aromatic diamine, such as methylene diamine, and an anhydride, such as trimellitic acid chloride. These resins exhibit outstanding thermal, mechanical, and chemical properties and are often the best choice for demanding applications where very high mechanical strength, stiffness and low friction in combination with high temperature, corrosion, and wear resistance is required. Polyamide-imides are widely used as wire coatings in making magnet wire. On account of these superior properties, polyamide-imides are extensively utilized in different end user industries such as aerospace, automotive, electrical & electronics, and oil & gas. Thus, superior 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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Global Polyamide-imide Resin Market Key Findings:
- The key contributing factors for the global polyamide-imide resin market growth are superior 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.
- 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 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.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerged as the largest market for the polyamide-imide resin with a 39.94% share of market revenue in 2018.
- Burgeoning demand for the polyamide-imide resin from the well-developed automotive aerospace, electrical & electronics, and textile industries led the Asia Pacific region to lead the global polyamide-imide resin market in 2018.
- The Europe region also accounted for a significant 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.
- 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.
- For instance in 2017, Solvay announced that its high-performance Torlon® polyamide-imide (PAI) enabled Performance Plastics Ltd., an advanced injection molder of precision engineered components, to innovate its new line of EnduroSharp™ Scraper Blades for aerospace maintenance applications. Torlon® PAI enabled these unique new tools to be tough enough to maintain their edge longer than blades molded from competitive polymers, but safe enough to remove challenging materials from delicate surfaces.
- Key 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.
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global polyamide-imide resin market on the basis of below mentioned segments:
Global Polyamide-imide Resin Market by Type:
- Unfilled
- Glass-Filled
- Carbon-Filled
- Others
Global Polyamide-imide Resin Market by End User Industry:
- Automotive
- Aerospace
- Electrical & Electronics
- Oil & Gas
- Others
Global Polyamide-imide Resin Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
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