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Polyimide (PI) Varnish Market Future Growth with Technology and Current Trends 2021 to 2030

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The global polyimide (PI) varnish market held a market volume of about 1,912.8 metric tons in 2021 and is projected to reach nearly 2,654.4 metric tons by the year 2030 at a CAGR of 5.6% from 2021 to 2030. The market was valued at USD 113.5 million in 2021.

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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.

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Segments Overview

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

By Type
Black
Green
Yellow
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)
Avionics
Battery & PV
LEDs & Display
Others
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%.

By Industry,
Consumer Electronics
IT & Telecommunications
Aerospace
Energy
Aerospace & Space
Automotive
Others
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.

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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.

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.

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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.

Table Of Content:

Chapter 1. Research Framework
1.1. Objective
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. List of Primary & Secondary Sources
1.3.3. Market Size Estimation
1.3.3.1. Assumption for the Study
1.3.3.2. Data Triangulation
Chapter 2. Executive Summary: Global PI (Polyimide) Varnish Market

……..and view more in complete table of Contents

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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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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