The report "Polyamide-Imide Resin Market by Type (Unfilled, Glass-Filled, Carbon-Filled), End-Use Industry (Automotive, Aerospace, Electrical & Electronics, Oil & Gas), and Region (North America, Europe, APAC) - Global Forecast to 2022"published by MarketsandMarkets™, the market is projected to grow from USD 501.7 million in 2017 to USD 687.1 million by 2022, at a CAGR of 6.5% during the forecast period.
The growth of this market can be attributed to the high demand for polyamide-imide resins from end-use industries such as automotive, aerospace, electrical & electronics, and oil & gas, superior properties of polyamide-imide resins, and replacement of conventional materials by polyamide-imide resins.
The glass-filled type segment is projected to lead the Polyamide-Imide Resin Market during the forecast period.
Glass-filled polyamide-imide resins encompass various properties that include excellent weather and gamma radiation resistance, outstanding bearing, high strength and stiffness, and good chemical resistance. The addition of glass fiber to polyamide-imide resins helps in expanding the flexural modulus of polyamide-imide resins while decreasing their rate of expansion. This, in turn, is expected to drive the market for glass-filled polyamide-imide resins.
The electrical & electronics end-use industry segment is projected to grow at the highest CAGR during the forecast period.
Based on end-use industry, the electrical & electronics segment is projected to grow at the highest CAGR during the forecast period. Key applications of polyamide-imide resins in the electrical & electronics industry include chip nest & sockets, wafer carriers, and chemical washing. Properties such as high chemical resistance, increased flame retardant, high dielectric strength, improved dimensional stability, excellent electrical properties, and improved design flexibility make polyamide-imide resins an ideal material for various applications in the electrical & electronics industry.
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. 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 in the APAC region.
Key players operating in the Polyamide-Imide Resin Market include Solvay (Belgium), Quadrant (US), Toyobo (Japan), Ensinger (Germany), Innotek Technology (China), and Kermel (France).
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