Thermoplastic Polyimide Market Covering Growth Inclinations & Development Strategies until 2018-2028
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.
[UKPRwire, Wed Jul 17 2019] 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.
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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 are the polyimides whose shape can be changed with the application of heat. These polymers finds a wide range of applications in aerospace and automotive industry, which includes aircraft structural parts, automotive structural part, 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.
The rapid growth of the automotive industry has created an upsurge in demand for the 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 significant increase in demand of high performance engineering material, which has been driving its business growth. Increasing disposable income in the developing countries is driving the automotive market. 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 aerospace and automotive industry.
Additionally, presence of various alternative materials including light weight metals and other polymers and plastics also acts as a restraint. Environmental regulations to recycle the plastics is also a restraining factor for the thermoplastic polyimide market.
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Automotive manufacturers are focusing on the 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 aircrafts constitutes of 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 aerospace industry.
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.
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