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Polybismaleimides Market to Record an Exponential CAGR by 2024

Press Release   •   Jan 09, 2018 02:01 EST

Polybismaleimides are a type of functional imide polymer. They are also known as high performance thermosetting addition-type polyimide polymers. They are obtained by the Michael reaction, i.e., addition of diamine to the unsaturated sites of bismaleimides. They possess high tensile strength and rigidity at elevated temperature. Polybismaleimides also have excellent chemical resistance including alcohols, hydrocarbons, and halogenated solvents. Additionally, they have outstanding dimensional stability, excellent electrical properties, long-term heat and oxidative stability, and relatively low propensity for moisture absorption. These reactive polybismaleimides polymers require high curing temperatures of more than 150°C and long curing times. Polybismaleimides are utilized as a component resin for filament winding, laminates, friction pads, and bearings. Polybismaleimides can replace metal and other materials in many structural applications due to their high strength and excellent long-term creep resistance.

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Commercially, polybismaleimides are manufactured by Huntsman Corporation, a leading chemical company, and they are often available either in dry powder resins or as liquid pastes form, which further contains imide structures either in the monomer or oligomer form. KERIMID and MATRIMID are two popular brands of polybismaleimides, by Huntsman Corporation, available in the market. They are widely used in electronic and aerospace industries as matrix resins, typically for high-performance (fiber-reinforced) composites. They are also employed as high performance adhesives.

The global polybismaleimides market is segmented based on product, technology, and application. Based on product, the market can be further segmented into powder-based and solution-based. In terms of application, the market can be segregated into aviation, automotive, military & defense, and electronics. Based on technology, the market can be further segmented into acetic anhydride dehydration method, closed-loop thermal dehydration method, and azeotropic distillation dehydration method.

Rising demand for high tensile strength polymer with high durability, typically in the aviation and military & defense sectors is driving the polybismaleimides market. Polybismaleimides are widely utilized as polymeric matrix in advanced carbon fiber composites for commercial and military aircrafts. An important component of polybismaleimides is bismaleimides, which require heavy processing, as they are not in their pure solid form.

Therefore, to ease the processing with improved toughness and flexibility, they are often blended with reactive co-monomers such as vinyl and allyl compounds, allyl phenols, isocyanates, and aromatic amines. Low product awareness and volatility in raw material prices are a few factors that are likely to restrain the market during the forecast period. However, strong brand promotions and increasing investment in research & development by multinational companies are expected to boost the polybismaleimides market during the forecast period.

In terms of geography, the market for polybismaleimides can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In North America, the U.S. was the leading consumer of polybismaleimides in 2016 due to the increasing research & development in the field of high performance polymers for military and commercial aircrafts. Asia Pacific is expected to dominate the market in the near future due to rapid industrialization and high growth witnessed in the automotive sector. China is anticipated to be a major consumer of polybismaleimides during the forecast period. Countries such as India, South Korea, and Japan are witnessing strong growth in the region due to the rise in consumer spending on quality products and high demand for lightweight automobiles.

The market in Europe is also projected to expand at a significant pace during the forecast period due to expansion of the automobile industry in the region. The market in Middle East & Africa and Latin America is projected to expand at a sluggish pace as compared to developed economies due to low product awareness. However, strong brand promotions through retailers and dealers and capacity expansion by major companies are expected to boost the market in the both Latin America and Middle East & Africa region

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Key players operating in the global polybismaleimides market are Huntsman Corporation, ABR Organics Limited, Evonik Industries, Hexcel Corporation, and SGL Group

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