The polyamide-imide resin market is projected to grow at a CAGR of 6.5% between 2017 and 2022
NEW YORK, July 31, 2018 /PRNewswire/ -- The polyamide-imide resin market is projected to grow at a CAGR of 6.5% between 2017 and 2022.
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The polyamide-imide resin market is estimated to be USD 501.7 in 2017 and is projected to reach USD 687.1 million by 2022, at a CAGR of 6.5% between 2017 and 2022. The high demand for polyamide-imide resins from various end-user industries, superior properties of polyamide-imide resins, and replacement of conventional materials by polyamide-imide resins are key factors projected to drive the growth of the polyamide-imide resin market. However, competition from hybrid polymers and composites is expected to restrain the market growth. The high cost of polyamide-imide resins is acting as a key challenge to the growth of the polyamide-imide resin market.
The glass-filled type segment is projected to grow at the highest CAGR during the forecast period.
Based on type, the glass-filled segment of the polyamide-imide resin market is projected to grow at the highest CAGR between 2017 and 2022.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.
In addition, glass-filled polyamide-imide resins provide superior stiffness and dimensional stability to finished products. Superior properties of glass-filled polyamide-imide resins, coupled with their increasing applicability in end-use industries, have contributed to the growth of the glass-filled type segment.
The APAC polyamide-imide resin market is projected to grow at the highest CAGR during the forecast period.
The growth of the APAC polyamide-imide resin market can be attributed to the increasing demand for polyamide-imide resins from the automotive, aerospace, electrical & electronics, and textile industries. Some of the factors impacting the market performance of polyamide-imide resins are high cost of polyamide-imide, increased investments in the automotive and aerospace industries, and fluctuation in crude oil prices.
China, India, and Indonesia are major vehicle manufacturing countries of APAC, where vehicle production is growing at a high rate.Automotive manufacturers in the APAC region are focused on the manufacture of energy-efficient vehicles, which, in turn, has propelled the demand for lightweight components.
The need to develop lightweight automotive components is projected to drive the demand for polyamide-imide resins from the APAC region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments of the polyamide-imide resin market.
The breakdown of primary interviews has been depicted below.
• By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C-level – 50%, Director-level – 25%, and Others – 25%
• By Region: North America – 60%, Europe – 20%, APAC – 10%, Middle East & Africa - 5%, and South America – 5%
Key players operating in the polyamide-imide resin market include Solvay (Belgium ), Quadrant (US), Toyobo (Japan), Ensinger (Germany), Innotek Technology (China), and Kermel (France).
Research Coverage:
The polyamide-imide resin market has been segmented based on type, end-use industry, and region.The report provides detailed information regarding major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the polyamide-imide resin market.
A detailed analysis of key players has been performed to provide insights on their business overview and products & services offered.
Reasons to buy the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the polyamide-imide resin market and provides the closest approximations of market sizes for the overall market and its subsegments across different regions.
2. The report is expected to help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
3. This report is also expected to help stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions.
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