According to the latest updates, the global polyimide coatings market size in 2020 is valued at US$ 1.462 billion and is predicted to reach US$2.30 billion along with the CAGR of 6.7% during the forecast period 2020-2027.
Polyimide coatings are available in both liquid and solid forms used on various automotive and electronic components surfaces to attain the desired results. These coatings have a few beneficial chemical properties that polyimides exhibit chemical resistance, excellent dielectric properties, mechanical toughness, and thermal stability making them ideal to use in the aerospace and defense industry. These coatings have superior characteristics like a low coefficient of linear thermal expansion, and high flexibility which are very helpful in various electronic appliances. As they offer low dielectric constant and better amenability, these coatings are organic insulation preferred over inorganic insulators. Furthermore, polyimides are also used in semiconductor and multichip modules by acting as interlayer dielectrics.
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The growing use of polyimide coatings in the electronics industry is propelling the growth of the market. Rising demand for electric mobility vehicles like buses, cars, and more are boosting the market growth. The surge in the demand for robotics and automation is leading to develop the market growth. These coatings are perfect for the usage of optical fibers, as these coatings become durable when exposed to high temperatures. These are highly demanded in the aerospace and defense industry and accelerate the growth of the market.
The polyimide coatings market opportunities are extensive use of these coatings in various industries like electronic & electrical, medical, aerospace & defense is fueling the market growth.
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The polyimide coatings market is classified into three segments based on the type, application, and end-user.
Type Segmentation: The polyimide coatings market types are bifurcated into thermoset and thermoplastic.
Application Segmentation: Based on the application, the polyimide coatings market is sectioned into tubing, electrical insulation, electronic parts, mechanical parts, fiber optic cables, and others.
End-user Segmentation: By end-user, the polyimide coatings market is trifurcated into aerospace, electrical & electronics, medical, and others.
Based on the latest report, the global polyimide coatings market based on the region is divided into five major regions such as North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa. Out of these regions, Asia-Pacific is dominating the highest market share due to rapid industrialization and growth in the end-use industries like electronics, aerospace, and medical. North America is holding the second-largest market share due to the rising investments in the civil aviation sector.
The polyimide coatings market’s key competitors are Kaneka Corporation (Japan), FLEXcon Company, Inc (US), Toray Industries, Inc. (Japan), I.S.T. Corporation (Japan), TAIMIDE (Taiwan), and others.
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As per the recent survey, the global polyimide coatings market forecast, it is expected that this coating market will reach immense growth in the review period due to the rise in demand for blood glucose market equipment leads to increase the polyimide coatings market growth. Introducing new technologies where the initial cost reduces for making the curing process cost-effective and make the market flourish. As it has excellent characteristics, it is preferred in various end-use industries.
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