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Stakeholders Analyze Competitive Cost Position to Tide Over COVID-19 Setback

The demand for chemicals has been affected by the COVID-19 outbreak across end markets. Companies in the BMI resins market are focusing on value creation to revive market growth, and are adapting their production activities to the volatile demand and supply. They are narrowing business interest in key revenue generating industries such as aerospace, defense, and electronics in order to keep the economies running.

Stakeholders in the BMI resins market are increasing their research to understand their competitive cost position to offer the best price for their products to the end users manufacturing composites and adhesives. They are capitalizing on benefits provided by government stimulus packages and schemes offered by the BFSI sector to effectively manage finances.

bmi resins market infographic

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Inherent Brittleness of BMI Resins Affects Widespread Application

Bismaleimide (BMI) resins are being deployed in high-tech fields such as aerospace and defense industries due to their high thermal stability, excellent mechanical properties, and corrosion resistance after curing. However, the wider use of BMI resins has been limited due to the brittleness caused by the high crosslink density and the aromatic nature of the network. In order to overcome these issues, chemical companies in the BMI resins market are boosting their R&D capabilities to use strategies such as incorporating microphase of dispersed elastomers or thermoplastic polymers.

Designing and synthesis of a new type of chain-extended BMI is being achieved by chemical companies to overcome the brittleness of BMI resins. Efforts are being made to enhance the toughness of BMIs without compromising and rather improving the related physical & chemical properties.

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ISO-grade BMI Resin Powders Exhibit Outstanding Toughness, Moisture Resistance in Laminates

The BMI resins market is expected to reach US$ 189.8 Mn by 2031. ABR Organics Limited - an ISO, DRDO, and ISRO certified organization specialized in developing various grades of polyimides, is building its portfolio in BMI resins used for composites, compression molding, and laminates for thermal & electrical insulation by pre-pegging. Laminates made using BMI resin powders exhibit outstanding toughness and moisture resistance.

Manufacturers in the BMI resins market are developing powders that are compatible with glass, carbon, aramid, and silica fabrics. Insulating materials, printed circuit boards (PCBs), and potting compounds are catalyzing the demand for BMI resins powders.

BMI Resins Help Develop Lightweight Propeller Parts for Aircraft Engines

The BMI resins market is expected to expand to 2,433 tons by the end of 2031. BMI resins hold potential for lighter and more heat-resistant propulsion technology by replacing titanium aircraft engine parts with composite materials. Solvay - a Belgium-based global chemicals company, is taking advantage of this need and building its portfolio in BMI resins to develop composite materials in order to reduce the weight of aircraft engines.

There is a growing demand for lightweight propeller parts in aircraft engines that can withstand high temperatures and impacts. Companies in the BMI resins market are boosting their output capacities to meet end user demands.

bmi resins market segmentation

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Analysts’ Viewpoint

Chemical companies are ensuring security in the supply of BMI resin products for mission-critical projects in aerospace and defense applications. The BMI resins market is slated to clock a CAGR of 2.3%, in terms of value, during the forecast period. This is evident since design and synthesis of a new type of chain-extended BMI is met with shortcomings such as poor thermomechanical properties. Hence, companies should gain a strong research base to resolve this issue by copolymerizing BMI resins with nanomaterials. They should tap incremental opportunities in developing lightweight propeller parts for aircraft engines, since BMI resins allow for the highest translation of fiber properties in tension and compression loading.

BMI Resins Market: Overview

  • Bismaleimide (BMI) resin is regularly supplied as a low molecular weight dry powder resin that already contains imide structures in monomer form.
  • Bismaleimide resin solution has a non-hydrogenated dimer diamine backbone. It can be homo-cured with UV or free radical initiators to make robust, hydrophobic, cross-linked polyimides. Low pH hydrolytic resistance and thermal stability are excellent in this material. This BMI resin can be employed in a wide range of applications, including mixed cure systems, owing to its amorphous structure.
  • Thermosetting BMI resins have been widely used as matrix for advanced composites in aerospace and astronautics applications. BMI resins possess excellent thermal and oxidative stability, as well as electrical and mechanical properties. They also possess a relatively low propensity for moisture absorption.
  • According to Transparency Market Research’s latest research report on the BMI resins market for the forecast period 2021 to 2031, rise in usage of BMI resins in composites, adhesives, and molding is a key factor that is expected to boost the global BMI resins market during the forecast period
  • In terms of revenue, the global BMI resins market is estimated to reach US$ 189.8 Mn by 2031, expanding at a CAGR of 2.3% during the forecast period

Increase in Usage of BMI Resins in Aerospace, Astronautics, Defence Industries: Key Driver of BMI Resins Market

  • BMI resins are thermosetting addition-type polyimides with outstanding performance. They have qualities similar to polyimides, such as strong strength and rigidity at high temperatures, long-term thermal and oxidative stability, outstanding electrical properties, and low moisture absorption proclivity. BMI resins have excellent dimensional stability and one of the best high temperature properties, similar to polyamides. BMI resins are also resistant to various chemicals including hydrocarbons, alcohols, and halogenated solvents. They can replace metal and other materials in numerous structural applications due to their high strength and outstanding long-term creep resistance.
  • In aerospace and astronautics, thermosetting BMI resins have been utilized as matrix for advanced composites. BMI resins have good thermal and oxidative stability as well as electrical and mechanical qualities and a low moisture absorption tendency.
  • Rise in demand for BMI resins in aerospace, defence, and various other end-use industries is propelling the demand for BMI resins in the automobile industry

Powder Type Dominates BMI Resins Market

  • Based on type, the powder segment dominated the global BMI resins market in 2020. This can be primarily ascribed to the increase in demand for powdered BMI resins in various end-use industries including aerospace, defense, and electronics.
  • In defence application, the powder form of BMI resins is used to prepare composite sheets that are used in aircraft and military equipment. Most major defence-spending countries have remained committed to maintaining their military presence despite the COVID-19 pandemic's economic impact on fiscal deficits.This is epected to boost the market significantly. For instance, in May 2020, China announced a military budget of US$ 178.2 Bn, up 6.6% from the previous year. India is also expanding its military, while Japan is expanding its air-sea capabilities. Japan has set a defence budget of US$ 51.6 Bn for fiscal 2021.
  • Solution form of BMI resins is employed in limited applications. Therefore, the solution form segment is likely to expand at a steady pace during the forecast period.

Rise in Application of BMI Resins in Composites

  • In terms of value, the composites application segment is estimated to dominate the global BMI resins market during the forecast period. Increase in demand for BMI resins in aerospace is anticipated to drive the segment in the near future.
  • The molding segment offers lucrative growth opportunities to the global BMI resins market

BMI Resins Market: Competition Landscape

  • Detailed profiles of providers of BMI resins have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global BMI resins market are
    • Evonik Industries AG
    • Hexcel Corporation
    • HOS-Technik GmbH
    • Huntsman International LLC
    • Solvay
    • Mitsubishi Chemical Corporation
    • Honghu Shuangma Advanced Materials Tech Co., Ltd
    • Renegade Materials
    • ABR Organics Limited
    • Qin yang Tianyi Chemical Co., LTD.

BMI Resins Market: Major Players

  • Major providers of BMI resins, such as Evonik Industries AG, Honghu Shuangma Advanced Materials Tech Co., Ltd, and Huntsman International LLC, are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
  • In the global BMI resins market report, we have discussed individual strategies, followed by company profiles of providers of BMI resins. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global BMI resins market.

BMI Resins Market – Scope of Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global BMI resins market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global BMI resins market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global BMI resins market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global BMI resins market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global BMI resins market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global BMI resins market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).

This study covers a detailed segmentation of the global BMI resins market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global BMI resins market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on BMI Resins Market

The report provides detailed information about the global BMI resins market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global BMI resins market, so as to help them design successful strategies and make target-driven decisions.

  • Which application segment of the global BMI resins market would emerge as a major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of BMI resins?
  • What would be the Y-o-Y growth trend of the global BMI resins market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global BMI resins market?
  • Which type segment is expected to create lucrative opportunities for the global BMI resins market during the forecast period?
  • Which are the leading companies operating in the global BMI resins market market?

Research Methodology – BMI Resins Market

The research methodology adopted by analysts for compiling the global BMI resins market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the global BMI resins market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global BMI resins market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global BMI resins market.

BMI Resins Market – Segmentation

TMR’s research study assesses the global BMI resins market in terms of type, application, end use, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global BMI resins market.

  • Powder
  • Solution
  • Composites
  • Adhesives
  • Molding
  • Others (Bonding)
End Use
  • Aerospace
  • Defense
  • Electronics
  • Others (Automotive)
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Bmi Resins Market

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