Global Polyimide Coatings Market is projected to reach USD 1,557 Million by 2025, at a CAGR of 6.7% during the forecast period. Polyimide are a group of high-performance polymers exhibits high thermal stability in high or low temperature and posses excellent dielectric traits. The growing use of polyimide coatings in end-use industries like electronic, aerospace, and medical are likely to drive the market growth.
According to MRFR analysis, the Global Polyimide Coatings Market has been segmented based on Type, Application, End-Use Industry and Region.
By type, the global polyimide coatings market has been segmented into thermoset and thermoplastic. The thermoset polyimide coating dominated the global market with the largest share of around 90% in 2018 and is expected to exhibit a CAGR of 6.8% during the forecast period. This is largely attributed to the growing use of polyimide coatings in flexible printed circuits, pressure-sensitive tapes and specialty fabricated products. The thermoplastic polyimide coating is often known as a pseudo-thermoplastic. Surging demand for the product on the structural materials in the aircraft and industrial machinery is supporting the growth of the segment.
On the basis of application, the global polyimide coatings market has been divided into electronic parts, tubing, electrical insulation, fiber optic cables, mechanical parts and others. The electronic parts segment dominated with the largest market share in 2018. The segment was valued at USD 417 million in 2018 and is estimated to exhibit the highest CAGR during the forecast period. Polyimide encapsulation is widely used in electric IC devices to protect the device from moisture, ultraviolet-visible light, mobile ion contaminants, and hostile environmental conditions. Additionally, the need to deliver ultra thin electronic coatings in smaller or more complex electronic packages is projected to drive the market growth.
Widespread use of polyimide coatings in electrical & electronic, medical and aerospace industry is expected to create lucrative opportunities for the manufacturers of polyimide coatings in the near future. The increasing adoption of optical fiber cables in the fly-by-wire technology in the aerospace industry is further expected to support market growth. The expanding aerospace industry due to increasing passenger traffic is expected to play a vital role in the growth of the global market.
Geographically, the global Polyimide Coatings Market has been divided into North America, Latin America, Asia-Pacific, the Middle East & Africa, and Europe. As per the analysis of MRFR, the Asia Pacific market was the dominant regional market, accounting for the leading market share of over 51% in 2018 and is expected to register the highest CAGR during the forecast period. North America closely follows the Asia-Pacific region and expected to follow the trend during the assessment period. This is attributed to the growing demand for medical coated drug delivery devices and flow control system in the region is likely to drive market growth.
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Key Findings of the Study
- Global Polyimide Coatings Market reached USD 997 Million in 2018 and is projected to reach USD 1,557 Million by the end of 2025, at a CAGR of 6.7% during the forecast period.
- Based on type, the thermoset segment held the largest share of more than 90% in 2018 and expected to grow with significant CAGR during the forecast period.
- By application, the electronic parts application witnessed significant growth and is projected to reach USD 686.5 million by 2025.
- Based on the end-use industry, the aerospace industry is projected to reach USD 417.1 million by 2025 with a CAGR of 6.1% during the forecast period.
- North America and Asia-Pacific accounted for more than 68% in 2018 due to the rapid adoption of polyimide coatings in the fiber optic cables and flexible printed circuits. China, the leading country in the global semiconductor market and the world’s largest manufacturers of electronic products accounted for over one-third of global production in 2018. Considering the healthy growth of the electronics industry in the emerging economies of Asia-Pacific, the demand for polyimide coatings in the regional market is projected to rise significantly in the years to follow.
Market Research Future (MRFR) identifies the following companies as the Key Players in the Global Polyimide Coatings Market: Ube Industries Ltd (Japan), I.S.T Corporation (Japan), Toray Industries, Inc. (Japan), SOLVER POLYIMIDE (China), Mitsui Chemicals, Inc. (US), SKCKOLONPI (South Korea), ELANTAS Beck India Ltd (India), Kaneka Corporation (Japan), Saint-Gobain (France), DuPont (US), TAIMIDE (Taiwan), and FLEXcon Company, Inc. (US)
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