Polyimide Coating Market Expected to Reach $2.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Polyimide Coating Market," The polyimide coating market size was valued at $1.2 billion in 2021, and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

Polyimide coatings can come in liquid or solid forms, and they are applied to the surfaces of a wide variety of electrical and automotive components. To achieve the desired result, they are applied to the surfaces of the various automotive and electronic components. There are two types of polyimide coatings: thermoset and thermoplastic.

Increase in applications in electrical & electronics, aerospace, automotive, and medical, are anticipated to propel thermosets polyimide coatings to the top of the market. The global polyimide coatings market is anticipated to expand significantly during the coming years. However, the market expansion can be linked to the electronic industry's widespread adoption of polyimide coatings. Polyimides combine thermal stability, chemical resistance, and mechanical strength with good dielectric characteristics.

In numerous electronic appliances, polyimide powder coatings are advantageous due to their low coefficient of linear thermal expansion and high degree of flexibility. This organic insulation is chosen over inorganic insulation due to its low dielectric constant and superior amenability. In semiconductors and multichip modules, polyimides serve as interlayer dielectrics. Increased demand for electric mobility vehicles such as buses and cars also contributing toward the polyimide coatings market growth. In addition, the increase in demand for robots and automation is another factor driving the growth of the polyimide coatings market. Various regulatory agencies, municipal and regional governments, and other administrations have not imposed stringent regulatory restrictions on the polyimide coatings market.

This is mostly due to the fact that they do not contribute to environmental damage or pollution. Regulations regarding the waste products generated during the curing process for polyimide coatings may provide a problem, but if they are strictly adhered to, they do not hinder growth. In addition, the rise of the aerospace and defence industry has expanded the use of polyimide-coated optical systems in aircraft, fueling market growth. These polyimide coatings market trends is expected to rise demand of polyimide coatings from various end use applications.

The polyimide coatings market is segmented into type, application, and region.

On the basis of type, the thermoset segment dominated the polyimide coatings market in terms of revenue in 2021. Thermoset polyimides coatings are widely utilized in a variety of end-use applications due to their vast set of features, including resistance to high temperatures, dimensional stability, and electrical insulation capabilities. In addition, its performance is superior to that of other materials such as metals and thermoplastics.

On the basis of application, the electronic parts segment dominated the polyimide coatings market in terms of revenue in 2021. Polyimide coatings are lightweight, flexible, and chemical and heat resistant and hence, these coatings are utilized in the electronic parts for flexible cables and as insulating layers on magnet wire. Printed circuit boards used in compact electronic devices such as portable computers, watches, panel boards, and digital cameras are coated with polyimide.

The polyimide coating market is led by Asia-Pacific region with the largest market share during the forecast period. There are several aspects involved in the dominance of Asia-Pacific region, including growth in the end-use industries such as medical, aerospace and electronics along with rapid industrialization among these regions. Among all the countries in the region, China contributed the maximum polyimide coatings market share owing to rise in demand in the fiber optics and aerospace industry and increased industrial growth.

The major players operating in the global polyimide coatings industry are DuPont, ELANTAS Beck India Ltd, FLEXcon company, Inc., I.S.T Corporation. KANIKA CORPORATION, Mitsui chemicals, Inc, Saint-Gobain, SOLVER POLYIMIDE, Toray Industries, Inc, UBE Corporation. Other players operating in the polyimide coatings market are TAIMIDE and SKCKOLONPI.

KEY FINDINGS OF THE STUDY

• 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 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 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.