How Polyimide Varnish market is growing high in future

Polyimide is known as nylon which belongs to the class of high-performance plastics. High tensile strength, thermal stability, and good mechanical attributes are just remarkable qualities that make polyimides so popular. Polyimides are most utilized in the electronics industry as cables, as covers for optical fibers, and in the automotive industry as mechanical stress buffers due to their excellent adhesive properties

 

According to a research report by Astute Analytica, the Global Polyimide varnish market value was US$ 114.9 million in 2021 and is expected to reach US$ 176.3 million by 2027, growing at a compound annual growth rate (CAGR) of 7.4% over the projection period from 2021 to 2027. 

 

The use of PCBs, TFTS, and sensors has increased significantly because of the enormous growth in demand in the automobile industry. As a result, it has the second-largest market share in the Polyimide Varnish market, the automobile industry has witnessed a change in the sector. Despite the rise in fuel prices, the automotive industry continues to attract a large consumer base thanks to the development of new technology linked to security, features, and engine performance. Due to its high-temperature property, polyimide varnish is used as a coating on high-tensile steel vehicle body frames. It is used in the creation of paint for use in painting.

 

The need for polyimide varnish is increasing due to the expansion of the automobile industry. The International Organization of Motor Vehicle Manufacturers claims that car production and demand are rapidly increasing. The automotive industry is fueled by technical advancement and consumers' fast rising per capita disposable income. As a result, it is estimated that the growth of the polyimide varnish market would coincide with that of the automotive sector.

 

The electronics industry is witnessing significant growth due to technical innovations in the same sector and holding the highest market share in the polyimide market. Polyimide films manufacture circuit boards used in compact electronic devices, such as watches, digital cameras, portable computers, and panel boards. The demand for electronics is mainly due to long-term stability and high-temperature properties.

 

The Asia-Pacific polyimide varnish market accounted for the largest market share in the year 2021, regional market growth is due to the presence of well-established electronics & automotive industries in South Korea, India, China, and Japan. The regional market growth is estimated to witness high growth in polyimide varnish demand, owing to increasing EV production and growing demand for LEDs and display applications. 

Location: United States

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