Polyimide Coating Market Size to Grow USD 2.2 Billion by 2031 at a CAGR of 6.7% | Valuates Reports
BANGALORE, India, April 22, 2024 /PRNewswire/ -- Polyimide Coating Market By Type (Thermoset, Thermoplastic), By Application (Electronic parts, Tubing, Electrical insulation, Fiber optic cables, Others)
The Global Polyimide Coating Market size was valued at USD 1.2 Billion in 2021, and is projected to reach USD 2.2 Billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
Major Factors Driving the Growth of Polyimide Coating Market
The market for polyimide coatings is expanding rapidly due to its vital applications in a wide range of sectors. Polyimide coatings are crucial in the electronics industry for shielding electronic components from heat and environmental stress, which maintains device performance and dependability.
Their use on tubing, such as catheters and endoscopes, is essential in the medical profession because of their chemical resistance and biocompatibility, which improve patient safety by preventing contamination. Polyimide coatings, which offer superior insulating qualities and resilience to high temperatures, are essential for improving the safety and efficiency of electrical components when it comes to electrical insulation.
Furthermore, these coatings shield fiber optic cables from environmental elements and mechanical harm in the telecom sector, guaranteeing continuous, high-quality data transmission.
TRENDS INFLUENCING THE GROWTH OF POLYIMIDE COATING MARKET
The electronics manufacturing industry, where polyimide coatings are essential for safeguarding electronic components, is a major driver of the market's growth. The longevity and thermal stability of circuit boards, semiconductors, and other parts all essential to a wide range of consumer electronics are improved by polyimide coatings. The need for improved coatings is being driven by this use, which guarantees that gadgets can function well in a variety of environmental conditions.
In the medical industry, polyimide coatings are being used more and more, especially in the production of tubing for instruments like endoscopes and catheters. Excellent chemical resistance and biocompatibility are features of these coatings that are critical for medical applications involving direct contact with medications or body fluids. The need for polyimide in medical applications is being driven by the expansion of less invasive surgical procedures.
Polyimide coatings are essential for offering electrical insulation in a range of uses. This is especially significant for the electrical and electronics sectors, where durable, functional, and safe insulation is essential. The market is expected to increase because polyimide is perfect for coating wires, transformers, and other electrical components since it can withstand electrical breakdown at high voltages and temperatures. Reliable telecommunications infrastructure is becoming increasingly necessary as the demand for high-speed internet rises globally. Fiber optic cables, which are vulnerable to mechanical harm and environmental stress, are coated with polyimide. These vital communication channels are safeguarded by polyimide's natural toughness and flexibility, which improves signal integrity and lifespan.
Materials that can survive harsh circumstances, such as exposure to chemicals and high temperatures, are needed by the aerospace and military sectors. Because polyimide coatings have excellent thermal and chemical resilience, they are employed on a variety of aircraft components, including engine parts and heat shields. The market for polyimide coating is driven by this application as the need for stronger and more lasting aerospace materials is expanding. Polyimide coatings are used on items, such under-hood components, in the automobile industry that are subjected to high temperatures and mechanical stress. These coatings support industry trends toward stronger, longer-lasting automobiles by extending the life and functionality of automotive parts. Advanced materials like polyimide coatings are becoming more and more necessary as car design moves toward greater economy and reduced emissions.
POLYIMIDE COATING MARKET SHARE ANALYSIS
On the basis of type, the thermoset segment emerged as the global leader by acquiring more than 57.1% of the market share in 2021, and the thermoplastic segment is anticipated to show lucrative growth rate over the forecast period.
On the basis of application, the electronic parts segment accounted for 42.6% of the global market share in FY2021 and fiber optic cables are expected to have the fastest growth rate over the forecast period.
On the basis of region, Asia-Pacific is the major consumer of polyimide coating among other regions. It accounted for around 50.5% of the global market share in 2021.
Key Companies:
- DuPont de Nemours, Inc.
- Flexcon Company, Inc
- I.S.T Corporation
- Kaneka Corporation
- Mitsui Chemicals Inc
- Saint-Gobain
- SOLVER POLYIMIDE
- Toray Industries Inc
- UBE Corporation
- ELANTAS Beck India Ltd
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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