The recent “Polyimide (PI) Varnish Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report
The report on the “Polyimide (PI) Varnish Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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Global Polyimide (PI) Varnish Market Analysis and Growth Forecast:
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 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.
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.
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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The global Polyimide (PI) Varnish market is segmented based on type, application, and industry.
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.
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%.
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.
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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.
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
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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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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