24/7 Customer Support
Growing at compound annual growth rate (CAGR) of 7.4%, the Global Polyamide Varnish Market is forecast to reach revenue of US $ 176.3 Mn by 2027. Equivalent market volume in the year is estimated at 2,654.4 MT, showing a growth of almost 40% over the forecast period.
Polyimide is basically known as the nylon which belongs to the class of high-performance plastics. Polyimides are known for its exceptional properties such as thermal stability, high tensile strength, and excellent mechanical properties. Its application is basically in the industries like electronics as cables, it is also used for covering of optical fibres, because of its good adessive property it is used in automotive industry for mechanical stress buffer. The report takes into consideration consumption demand for the product for all applications described across the industries covered.
The research report provides the detailed analysis of the Global Polyimide Varnish Market growth and opportunity related to the market considering all the growth factors. The regions tracked in report are North America, Europe, Asia Pacific, and Rest of the world - Middle East & Africa and South America.
Asia Pacific is analysed to be the leading region for polyimide varnish market during the forecast period and expected to account for 1,355.7 MT demand by 2027. The primary factor behind this growth is strong demand from Consumer electronics sector supported by optimistic economic outlook. Close to one-third of this growth is contributed by China, which is expected to see CAGR of 9.4% in terms of revenue.
The global polyimide varnish market has been extensively analysed on be multiple parameters, viz. Type, Application, and Industry. Based on color type, polyimide varnish is segmented into black, yellow, and green. Due to excellent mechanical properties and long-term heat resistance, black varnish segment holds the highest market share of approximately 50% and is expected to see exponential growth in the long term. The yellow varnish segment on the other hand holds the second largest revenue share of 21 % and expected to grow at 7.6% CAGR in future.
Based on application segment Polyimide varnish market can be classified into semiconductor components, electrical, avionics, Battery & PV (photovoltaics) LEDs and Displays, and others. Of these, LED Displays and electricals followed by semiconductor components are seen as dominant markets, while LEDs and displays segment is analyzed to grow as fastest segment accounting for close to 40% of opportunity share, in terms of revenue growth. Demand for PI Varnish in the segment is driven by use of portable devices in every sector these days. New research and developments in electronics is also a driving factor for increase in demand.
Based on industry, global polyimide varnish market is segmented into Aerospace, Energy, Automotive, IT &Telecommunication and Consumer Electronics. Consumer electronic products is holding the highest market share and according to research it is expected to grow in good numbers in nearby future. The main reason behind its growth is increasing demand and user base of consumer electronics segment. Due to evolving technology in electronics the segment has high replacement rate and is witnessing mass market penetration, thereby leveraging volume demand advantages. The automotive sector is the second largest segment, with future growth driven by changing trends in automobiles due to adoption of new technologies such as ADAS feature, connected cars, Electric vehicles, so on.
The polyimide varnish market provides a 360 view on global market covering recent developments in the industry, supply chain management, market size in terms of value and volume, regional analysis, and opportunity in the market.
The global polyimide varnish market provides our readers with insights to applications and industries where opportunities are added and novel developments furthering long term demand. Demand across industry sectors directly influences market growth and overview of these sectors helps gauge near and long-term impact on market dynamics.
The report also provides price analysis by region from 2017 to 2027 in which Asia Pacific is holding highest market share as compared to other regions because of increase in EV production and growing demand of LED and Display application.
Further the analysis in report is related to Covid impact on market and threats from substitute product or challenges involved. The report also talks about market share of key players in global polyimide varnish market and overview of the competitive strategies implemented by them.
Covid 19 impact on Polyimide Varnish Market
Before Covid-19, polyimide varnish market was expected to grow by CAGR 4.3% and was expected to reach 189 Mn by 2027. As per our research analyst after Covid it is expected to see higher growth rate of 7.4 % and reach USD 176 Mn. High CAGR value is due to impact of the recovery rate over years of 2021-2023. The pandemic has brought upon negative impact on the consumer electronics, IT & telecommunications, aerospace, energy, aerospace & space, and automotive industries across the world. The previous balance of GDP growth will take some more time and expected to get back to pre-covid trend by 2023-2024.
Market Key Players
In the global polyimide varnish market, vendors compete based on cost, product quality, and reliability. Key players such as UBE, PI Advanced Materials, Mitsui Chemical, Suzhou Electrical System and Dupont are some of major players in the market, wherein leading 6 players collectively accounted for more than 75% market share in 2020.
Global Polyimide Varnish Market- Segmental Overview