Polyimide Coatings Market Size

Polyimide Coatings Market Growth Projections and Opportunities

The global polyimide coatings market is poised for robust growth in the forecast period spanning from 2019 to 2025, with a notable upswing projected. Having been valued at USD 996,945.0 thousand in 2018, the market is anticipated to achieve a compound annual growth rate (CAGR) of 6.70%, reaching an impressive USD 1,557,557.6 thousand by the culmination of 2025. In tandem with this, the market volume, standing at 52,924.0 tons in 2018, is expected to witness a steady CAGR of 5.71%, culminating in 78,234.1 tons by the end of 2025.

A pivotal factor steering this flourishing market trajectory is the escalating demand for polyimide coatings across diverse end-use sectors. The aerospace and defense industry's pronounced reliance on polyimide coatings, coupled with their extensive utilization in the electronics industry, is anticipated to propel market growth significantly. Furthermore, the anticipated surge in demand for polyimide coatings in emerging economies such as India, China, Brazil, Thailand, Indonesia, and East European countries is poised to unlock lucrative opportunities for industry players. However, the impediment to this growth narrative lies in the high manufacturing costs associated with polyimides, posing a potential challenge to the global polyimide coatings market throughout the forecast period.

A detailed analysis by MRFR categorizes the global polyimide coatings market based on type, application, end-use industry, and region. Distinguishing between thermoset polyimide coating and thermoplastic polyimide coating, the former secured a dominant market share exceeding 90% in 2018. This segment is projected to achieve a value of USD 1,417,382.6 thousand by the culmination of 2025, driven by its extensive demand across major industries like electrical and electronics, aerospace, automotive, medical, mining, and energy.

Regarding applications, segments include electronic parts, tubing, electrical insulation, fiber optic cables, mechanical parts, and others. The electronic parts segment emerged as the frontrunner in 2018, commanding a share of 41.8%, and is expected to display the highest CAGR of 7.51% during the forecast period. This dominance is attributed to the widespread use of polyimide coatings in the production of electronic and semiconductor parts. Categorizing end-use industries into electrical and electronics, aerospace, medical, and others, the electrical and electronics sector claimed the largest market share of 52.8% in 2018 and is anticipated to sustain a CAGR of 7.17% throughout the forecast period.

Regionally, the global polyimide coatings market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. With Asia-Pacific leading the charge with a substantial 51.5% share in 2018, the regional market is underpinned by the flourishing consumer electronics, electrical, and automotive industries. Moreover, augmented healthcare spending by both individuals and governments is anticipated to fuel demand for polyimide coatings in the Asia-Pacific market, projecting a CAGR of 7.52%. The market value in 2018 stood at USD 513,426.7 thousand and is anticipated to ascend to USD 846,665.7 thousand by the conclusion of 2025.