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Polyimide (PI) Varnish Market Analysis By Industry Growth, Size, Share, Demand, Trends and Research Report

The global polyimide (PI) varnish market held a market volume of about 1,912.8 metric tons in 2020 and is projected to reach nearly 2,654.4 metric tons by the year 2027 at a CAGR of 5.6% from 2017 to 2027. The market was valued at USD 113.5 million in 2020.

Polyimide (PI) Varnish Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Polyimide (PI) Varnish Market , and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Polyimide (PI) Varnish.

Polyimide (PI) varnish is a polyamic acid precursor solution of polyimide. The market is expected to be driven owing to the growth of the automotive industry and increasing demand for new aircraft. Furthermore, developments by market players and rising usage in consumer electronics, semiconductors, IT, and telecommunication industries, among others are anticipated to boost the market growth. However, the increasing e-waste and its negative effects on the environment are estimated to negatively hamper market growth.

Growth Influencers:

Growth of the automotive industry

PI varnishes are used for coating due to their adhesion and transparency properties. These applications are vital as they offer an economical way of obtaining functional material. The cost of material decreases, as less amount of polymer, is required. The varnish also provides thermal resistance, which helps in the automotive industry by keeping the automobile cool. Therefore, increasing demand for PI varnishes owing to its high applications in the automotive industry is expected to boost the market growth.

Increasing demand for new aircraft

Polyimide varnish is used as a heat-resistant composite member for aircraft. It is composed of carbon fiber or glass fiber for achieving lightweight, high-strength, and heat-resistant aircraft. It is used in various fields such as the defense and space sector for manufacturing heat-resistant aircraft. Therefore, rising demand for new aircraft is expected to boost the demand for polyimide varnishes as well.

Segments Overview

The global Polyimide (PI) Varnish market is segmented based on type, application, and industry.

By Type
The black segment held the largest volume share in 2020 and is expected to cross about 120 metric tons by 2025 owing to high demand for black varnishes in the automotive sector. The yellow segment is expected to be the fastest-growing segment by volume accounting for a 5.8% growth rate.

By Application,
Semiconductor Components Sensors, PCBs, TFTs, Others
Electrical (wires, cables, coils, pumps, motors)
Battery & PV
LEDs & Display
The electrical segment accounted for the largest volume share of about 25% owing to the rising demand of PI varnishes for the production of wires and cables, among others due to its thermal resistant properties. The market value for the LEDs and display segment is expected to reach USD 51.7 million by 2027 and the battery & PV segment is anticipated to grow at a CAGR of 8.1%.

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By Industry,
Consumer Electronics
IT & Telecommunications
Aerospace & Space
The consumer electronics segment is expected to hold the largest market value share of about 50% owing to the high adoption of PI varnishes in this industry. The aerospace industry is expected to witness a growth rate of 6.2% owing to the tremendously growing aerospace industry.

Regional Overview

By region, the global Polyimide (PI) Varnish market is divided into Asia Pacific, Europe, North America, and the Rest of the World.

The Asia Pacific region is expected to be the fastest-growing volume segment accounting for a 6% CAGR owing to the growing automotive and electronics industry in the region, especially in Japan, India, and China.

The Rest of the World region consists of the Middle East & Africa and South America. The market value of this region is anticipated to cross about USD 18 million by 2024 owing to the fast-developing aerospace sector in these regions.

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Competitive Landscape

Major players in the global Polyimide (PI) Varnish market include Daxin Materials Corporation, Dongbaeak Fine-Chem, Hubei Dinglong, Industrial Summit Technology (IST), Lumtec, Mitsui Chemical, PI Advanced Materials, PICOMAX, SKC Kolon, UBE Industries, Wuhan Imide New Materials Technology, and Other Prominent Players.

The cumulative market share of the six major players is near about 76%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in June 2021, SKS initiated its eco-friendly recycling business with waste plastic pyrolysis.

The global Polyimide (PI) Varnish market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Polyimide (PI) Varnish market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

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The global Polyimide (PI) Varnish market report answers questions such as:

What is the market size and forecast of the Global Polyimide (PI) Varnish Market?
What are the inhibiting factors and impact of COVID-19 on the Global Polyimide (PI) Varnish Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Polyimide (PI) Varnish Market?
What is the competitive strategic window for opportunities in the Global Polyimide (PI) Varnish Market?
What are the technology trends and regulatory frameworks in the Global Polyimide (PI) Varnish Market?
What is the market share of the leading players in the Global Polyimide (PI) Varnish Market?
What modes and strategic moves are considered favorable for entering the Global Polyimide (PI) Varnish Market?

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