Global Thermoplastic Polyimide Market Introduction
There has been rising demand for thermoplastic polyimide from the aerospace, automotive and electronics industries. Because of its high strength, toughness, high stiffness, and high heat resistance, thermoplastic polyimides are considered as engineering plastics. Thermoplastic polyimide is polyimides whose shape can be changed with the application of heat.
These polymers find a wide range of applications in the aerospace and automotive industry, which includes aircraft structural parts, automotive structural parts, parts of industrial machinery and equipment. Thermoplastic Polyimide is also used in various electronics and electrical parts. Cleanness, toughness, and transparency are some of its important characteristics, which are favored in the aerospace and automotive industries.
Global Thermoplastic Polyimide Market Dynamics
Thermoplastic Polyimide Market Drivers
The rapid growth of the automotive industry has created an upsurge in demand for thermoplastic polyimide. These are used for the manufacturing of automotive structural parts, gears, bushes, and other equipment as well as electronic products. High growth in aircraft demand, with the increasing population and rising spending power of the population, is projected to support the demand for thermoplastic polyimide over the forecast period.
There has been a significant increase in demand of high-performance engineering materials, which has been driving its business growth. Increasing disposable income in developing countries is driving the automotive market. The rise in aircraft deliveries shows the growth of aerospace industry which is driving the demand for matrix composite materials. This is expected to boost the growth of thermoplastic polyimide demand from structural applications in the aerospace and automotive industry.
Thermoplastic Polyimide Market Restraints
One of the major challenge faced by the global thermoplastic polyimide market is its high cost. Large players in the market are continuously focusing on the innovations and developing processes to produce low-cost thermoplastic polyimide products. The large players can rip out the benefits of economies of scale, therefore, the sustainable growth for small players in the market is one of the big challenges in the thermoplastic polyimide market.
Additionally, presence of various alternative materials including lightweight metals and other polymers and plastics also acts as a restraint. Environmental regulations to recycle plastics are also a restraining factor for the thermoplastic polyimide market.
Thermoplastic Polyimide Market Trends
Automotive manufacturers are focusing on lightweight materials for its component manufacturing. Thermoplastic polyimide is a material of choice in various automotive and automotive electronic component manufacturing. Rise in automotive industry in emerging economies, is therefore pushing the demand for thermoplastic polyimide.
As per the Boeing outlook, some of the new aircraft constitute about 50% of advanced composites. Thermoplastic polyimide is also used in the manufacturing of various composites. High demand for these composites is expected to push the thermoplastic polyimide from the aerospace industry.
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Global Thermoplastic Polyimide Market: Regional Outlook
Automotive manufacturers are shifting from mature regions to emerging countries such as India and China. The global thermoplastic polyimide market is anticipated to be dominated by Asia Pacific region with China leading the market both in terms of production and consumption. India is also anticipated to witness sound growth in demand for thermoplastic polyimide owing to the rapid growth in the automotive industry in the country.
North America and Europe are collectively anticipated to hold significant share in the thermoplastic polyimide market and the growth in aerospace industry in the region is anticipated to drive the demand in the coming years. Significant investments and recovering economy in Brazil and Argentina are projected to drive the Latin America thermoplastic polyimide market. Middle East and Africa is projected to witness moderate growth in demand for thermoplastic polyimide over the forecast period, due to initiative by various Middle East countries towards achieving a diversified economy.
Global Thermoplastic Polyimide Market Participants
Some of the market participants identified across the value chain of global Thermoplastic Polyimide market are:
- Mitsui Chemicals, Inc.
- Welch Fluorocarbon Inc.
- Shinmax Technology
- RESINEX Group
- RTP Company
- Nexeo Solutions
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia, CIS)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact MR
Global Thermoplastic Polyimide Market Segmentation
The global thermoplastic polyimide market can be segmented on the basis of application, end use industry, and region.
On the basis of application, the global thermoplastic polyimide market can be segmented as:
- Films & Tubes
- Insulated Bushes & Gears
- Sockets & Connectors
- Other Equipment Parts
On the basis of end use industry, the global thermoplastic polyimide market can be segmented as:
- Electronics & Electrical
- Other Industries
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