New York, United States , Oct. 25, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Polyimide Varnish Market Size to grow from USD 34.98 billion in 2021 to USD 58.59 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period. Polyimide has been around for a little longer than polyester has. Polyimide was initially manufactured before the start of World War I, but it wasn't until 1938 that it was used commercially. In addition to these, water, petroleum, and several other chemicals are used in the production of polyimide. The fact that it is used in several applications and inexpensive than alternative products is anticipated to rise the expansion of the market.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an essential role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The thermoplastic segment accounts for the largest market size during the forecast period.
Based on the product type, the polyimide varnish market is categorized into Thermoplastic and Thermosetting. The thermoplastic segment accounts for the largest market size during the forecast period. They are simple to mold and shape while they are hot, they may transform into liquid at high temperatures, and when they are cooled, they turn into hard and solid plastic. While certain types of thermoplastics are pricey, strong, and used in place of metal, others are employed in regular everyday items. Thermoplastics are used to make things like keyboards and casings for compact discs.
Browse key industry insights spread across 199 pages with 104 market data tables and figures & charts from the report “Global Polyimide Varnish Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Thermoplastic and Thermosetting), By End-user Industry (Automotive and Other Transportation, Electronics and Semiconductor, Healthcare, and Other End-user Industries), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030. View a detailed Table of Content Here–
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The healthcare segment to hold a higher CAGR during the forecast period
Based on end-user industry type, the polyimide varnish market is categorized into Automotive and Other Transportation, Electronics and semiconductors, Healthcare, and Other End-user Industries. The healthcare segment is to hold a higher CAGR during the forecast period. As a result of improvements in coverage and services, as well as rising levels of investment from both public and private entities, the healthcare industry in India has emerged as one of the country's most important economic pillars. The percentage of the government's total budget allocated to the healthcare industry rose to 1.4%. This growth is anticipated to be driven by an increase in disposable income, increased health awareness, an increase in lifestyle diseases, and an increase in access to insurance.
North America to hold a higher CAGR during the forecast period.
The Global Polyimide Varnish Market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. North America is estimated to account for the highest market share in 2022. Because of the increasing population, higher standards of living, and higher per capita income, North America has one of the fastest-growing economies in the world. Almost all of the end-user sectors have also been expanding as a result of this growth.
On the other hand, the growth rate is anticipated to decrease in the first few years of the forecast period due to disruptions in international commerce and adverse developments in geopolitical affairs. In light of the favorable conditions and relations that are anticipated to exist in the foreseeable future, it is anticipated that the rate of growth will quicken later on in the period under consideration.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Global Polyimide Varnish Market vendors include Dupont, Mitsui Chemicals, SABIC, Saint-Gobain, and Toray Industries Inc.
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