Market Insights
"The global Polyimide Resins Market size is projected to grow from USD 645 million in 2024 to USD 901 million by 2031, at a CAGR of 5% during the forecast period."
Market Dynamics
Introduction
Polyimides (PI) are a class of polymers characterized by imide groups (CO-N-CO) in their structure, making them a type of high-performance plastic, which can be described in PI films, PI Varnish, PI Foams, PI Coatings, etc. PI resins are typically made by reacting a dianhydride (like PMDA or BPDA) with a diamine (like ODA or DAB) and initially formed as polyamic acid (PAA) in a liquid solution, which then gets imidized into polyimide (solid) through heat treatment that can be used to make various final products: films, foams, powders, varnishes, adhesives, etc. PI resins are high-performance plastics known for their exceptional thermal stability, chemical resistance, electrical insulation, and mechanical strength. The end product of these polymers is widely used in demanding applications like thermal & electrical insulations across electronics, automotives, aerospace, renewable energies, and others, where reliability under extreme conditions is critical.
Recent Market JVs and Acquisitions:
A considerable number of strategic alliances, including M&As, JVs, etc., have been performed over the past few years:
- In June 2024, Arkema acquired a 54.07% stake in PI Advanced Materials (PIAM), formerly a joint venture between SKC and Kolon.
Recent Product Development:
- In 2024, PI Advanced Materials successfully produced the world's first 4μm ultra-thin polyimide film.
- In January 2024, Ventec Group's VT-901 polyimide material received full and exclusive qualification from the European Space Agency (ESA) for use in ACB Belgium's high-density interconnect (HDI) printed circuit board manufacturing.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Segments with High-Growth Opportunity
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Form-Type Analysis
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PI Films, PI Varnish/Coatings, PI Powder, Others (Foam, Compounds, etc.)
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PI Films dominates the market due to its wide applications in the electronics, automotive, and aerospace industries, followed by Other PI products, such as PI foam and compounds.
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End-Use-Industry-Type Analysis
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Electronics, Automotive, Aerospace, and Other End-Use Industries
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The electronics industry is expected to remain dominant and the fastest-growing industry, propelled by demand for flexible devices and electric vehicles.
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Product Type Analysis
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Thermoplastic and thermoset
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The thermoplastic resins are currently dominating the market, driven by their unique reprocessing capabilities and manufacturing advantages.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific dominates the market, driven by electronics manufacturing in China and Japan. North America grows continuously due to aerospace and defence applications.
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By Form Type
"PI Films dominates the polyimide resins market with more than 70% of the total market, driven by its large applications in the electronics and automotive industries."
The Polyimide Resins Market is segmented by end product type into PI films, PI Varnish/Coatings, PI Powder, and other types. PI films hold the largest market share due to their critical role in flexible electronics, particularly in flexible printed circuit boards, including smartphones, wearables, and automotive displays. Along with the growing adoption of electric vehicles (EVs), PI films are followed by other PI products, which are driven by the increasing demand for light materials with good thermal, electrical, and mechanical properties in the aerospace and automotive industries.
PI varnish/coatings are projected to be the fastest-growing category during the forecast period, propelled by their increasing demand in electronics and aerospace applications. The growing demand for electronic devices, particularly mobile phones, computers, and other consumer electronics, fuels PI varnish. PI powder also shows significant growth opportunity, driven by increasing demand for high-temperature-resistant insulating and electrical materials for Selective Laser Sintering (SLS) and Binder Jetting in 3D printing. With the increasing demand for 3D-printed products, the demand for polyimide powder will increase.
By End-Use Industry Type
"The electronics industry is expected to remain dominant, supported by the rising demand for foldable devices and 5G technology."
The polyimide resins market is segmented by end-use industry into electronics, automotive, aerospace, and other end-use industries. The electronics industry is expected to remain dominant and the fastest growing industry during the forecast period, supported by the rising demand for foldable devices and 5G technology, which requires a lightweight, heat-resistant material with high dielectric and thermal insulation properties. The automotive industry also holds a significant share due to various applications in electric vehicles. Other end-use industries include solar panels and the medical field.
By Product Type
"The thermoplastic PI resins are expected to remain dominant, supported by technological advancements and advantages in the manufacturing process."
The Polyimide resins market is segmented by product type into thermoplastic and thermoset. Thermoplastic PI resins are expected to remain dominant during the forecast period, driven by their unique reprocessing capabilities and manufacturing advantages. Unlike thermoset variants, thermoplastic PI resins can be repeatedly heated and reshaped without chemical degradation, enabling superior production efficiency and enhanced design flexibility for complex geometries in the automotive and aerospace industries. Due to the critical role of thermoset PI resins in ultra-high temperature applications (>400°C), it is expected that it will be the fastest growing product type during the forecast period, driven by increasing demand for PI varnish.
Regional Analysis
"Asia-Pacific is expected to remain the largest and fastest-growing market for PI resins during the forecast period."
The polyimide resins market is segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to remain dominant and fastest growing, with China, Japan, and South Korea due to the most extensive electronics manufacturing base, rapid industrialization, cost-competitive manufacturing capabilities, rising EV production, and investments in renewable energy resources. North America and Europe also hold significant shares, driven by advancements in aerospace, automotive electrification, and 5G technology.
Key Players
The market is highly competitive. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the PI Resin market.
Here is the list of the Top Players (Based on Dominance)
- PIAM
- Taimide Tech
- Kaneka Corporation
- Ube Industries
- DuPont de Nemours, Inc
- DuPont Toray Industries
- Mitsubishi Gas Company
- Mitsui Chemicals
- Evonik
- Saudi Arab Industries Corporation
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Please write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The Polyimide Resins Market is segmented into the following categories.
Polyimide Resins Market by Form Type
- PI Films (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- PI Varnish/Coating (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- PI Powder (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other Types (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Polyimide Resins Market by End Use Industry Type
- Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other End-Use Industries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Polyimide Resins Market by Product Type
- Thermoplastic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Thermoset (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Polyimide Resins Market by Region
- North America (Country Analysis: The USA, Rest of North America)
- Europe (Country Analysis: Germany, The UK, and the Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: The Middle East, Latin America, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s polyimide resins market realities and future market possibilities for the forecast period.
- The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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