Polyimides Market Size Outlook, Size, Share And Growth And F...| MENAFN.COM

Tuesday, 07 February 2023 05:03 GMT

Polyimides Market Size Outlook, Size, Share And Growth And Forecast Assumptions 2023-2033

(MENAFN- America News Hour)

The polyimides market is expected to register a CAGR of more than 5% during the forecast period. Some of the prominent trends that the market is increasing is growing usage of polyimides in the automotive and aerospace industries.
– Expensive in comparison to other polymers and low bonding strength in comparison to substitutes are likely to hinder the market's growth.
– Increasing adoption of electric vehicles and increasing usage in food safe and bio-compatible products are expected to act as an opportunity for the market.

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Key Market Trends
Increasing Demand from Healthcare Industry

– Polyimide is used for medical tubing in healthcare, in vascular catheters, due to its burst pressure resistance, flexibility, and chemical resistance.
– It is also used to coat optical fibers for medical or high-temperature applications. With the growing healthcare industry, the market for polyimides in its applications is expected to grow.
– According to a recent analysis from the United States Federal Government Actuaries, the expenditure on the United States' healthcare reached USD 3.65 trillion. This is considered, by far, the highest spending in the world, according to the Organization for Economic Co-Operation and Development.
– Healthcare has become one of the India's largest sectors due to its strengthening coverage, services, and increasing expenditure by public and private players. The government's expenditure on the healthcare sector increased to 1.4%.
– According to India Brand Equity Foundation (IBEF), the healthcare market in India is expected to reach USD 372 billion by year 2022, due to the rise in incomes, greater health awareness, lifestyle diseases, and the increasing access to insurance. The hospital industry is expected to register a CAGR of around 16-17%, to reach USD 132.84 billion, by 2022.
– Such factors are expected to drive the healthcare industry, and in turn, increasing the consumption of polyimides in its applications.
China to Dominate the Asia-Pacific Region
– China is one of the fastest growing economies globally, and almost all the end-user industries have been growing due to the rising population, living standards, and the per capita income.
– However, owing to the international trade turbulences and unfavorable geopolitical affairs, the growth rate is expected to slow down in the initial years of forecast period. The growth is expected to take up the pace in the later part of forecast period, considering the favorable conditions and relations in the future.
– Polyimide materials are used in the electronics industry for flexible cables and as insulating films on magnetic wires. Additionally, polyimide resin is used as an insulating and passivation layer in the manufacture of integrated circuits.

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– China has the world's largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, and earphones, recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics, but also exports electronic output to other countries.
– In China, with the increase in the disposable incomes of the middle-class population and the rising demand for electronic products in the countries importing electronic products from China, the production of electronics is estimated to grow further.
– According to the Industry, Science, and Technology International Strategy Center (ISTI), the production value of Taiwan's semiconductor industry is anticipated to grow substantially due to the increasing demand for integrated circuit (IC) devices for artificial intelligence applications.
– Such growth in healthcare, electronics & semiconductor industries is expected to drive the polyimides market.
Competitive Landscape
The polyimides market is partially consolidated, with few players holding the major share in the market. Key players in the polyimides market include Dupont, Mitsui Chemicals, SABIC, Saint-Gobain and Toray Industries Inc., among others.

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Drivers
4.1.1 Growing Usage of Polyimide in the Automotive and Aerospace Industries
4.1.2 Innovation and Technological Development in the Electronics Industry
4.2 Restraints
4.2.1 Expensive in Comparison to Other Polymers
4.2.2 Low Bonding Strength in Comparison to Substitutes
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

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