COVID-19 Impact on Polyimide Binders Market
- The COVID-19 outbreak has hindered the demand for polyimide binders in several ways. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for polyimide binders.
- Major end-users of polyimide binders are automobile and electronics sectors. Lockdowns imposed across the world hindered construction and production activities around the world. The consumer goods market was also affected due to the lockdowns. Demand for automobiles, wires and cables, pipes, and other goods, wherein plastic is used, plummeted. This hampered the polyimide binders market.
- The COVID-19 outbreak has directly affected production activities of various non-essential goods. Industrial shutdown caused by the COVID-19 pandemic created disruption in the production of polyimide binders. Disruption in supply of raw materials also hampered full-scale operations of companies operating in the market
Key Drivers and Restraints of Global Polyimide Binders Market
- The global polyimide binders market is expected to expand significantly due to the advancements in processing technologies. Growth of the automotive industry has further boosted the demand for polyimide binders, as they act as an important battery materials. Therefore, they are largely used in manufacture of Li-ion batteries. Strength and high durability are few properties of polyimide binders that are required while manufacturing battery separator materials.
- Demand for EV is expected to rise due to various factors such as depleting fossil fuel reserves and environmental concerns regarding emissions from conventional vehicles. This is expected to boost the production of Li-ion batteries significantly. Thus, the polyimide binders market is expected to expand considerably during the forecast period.
- Cost is one of the most important criteria while producing polyimide binders. Assuming that more than one binder meets all other requirements for a given application, price usually determines which binder material would be chosen. The prices of polyimide binders may vary widely due to differences in raw material and processing costs. This is the major restrain of the global polyimide binders market.
Polyimide Binders: Application Segment
- Based on application, the polyimide binders market can be segmented into automotive, aerospace, electronics, industrial, and others
- Rise in demand for advanced vehicles is boosting the demand for polyimide binders. Besides this, polyimide binders are used for protecting cables & wires, manufacturing puncture seals, and improving impact resistance in vehicle interiors. This is expected to propel the global demand for polyimide binders in the near future.
- Besides the automotive industry, the aerospace sector accounts for large share of the polyimide binders market. In aerospace, polyimide binders and related products can be utilized as replacements for traditional materials.
Asia Pacific Holds Major Share of Global Polyimide Binders Market
- In terms of region, the global polyimide binders market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is likely to hold dominant share of the global polyimide binders market during the forecast period. Rapid urbanization and industrialization in various emerging markets has contributed to the growth of the polyimide binders market in the region. Thailand, India, China, and Indonesia are projected to be the key countries of the polyimide binders market in Asia Pacific.
- Large numbers of electric vehicle manufacturers are looking to backward integrate. Hence, they are striving to set up units in emerging markets due to immense growth opportunities and untapped potential. This is also projected to boost the polyimide binders market in Asia Pacific.
- North America, on the other hand, holds second position in the global polyimide binders market. Cost-efficiency and easy adaptability are key factors responsible for the growth of the market in the region.
Key Manufacturers Operating in Global Polyimide Binders Market
The global polyimide binders market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global polyimide binders market include:
- UBE Corporation
- Shengjun polymer Company
- Top Material Co., Ltd.
Global Polyimide Binders Market: Research Scope
Global Polyimide Binders Market, by Synthesis
- Condensation Polymers - Non Melting and Thermoplastic
- Addition Polymers
- Hybrid Polymers
Global Polyimide Binders Market, by Application
Global Polyimide Binders Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Polyimide Binders: Introduction
- Polyimide binders are highly versatile engineering materials. They contain a rigid aromatic ring and polar imide ring.
- They are complex materials that exhibit unique combinations of useful properties, the most important being heat resistance, chemical resistance, and good wettability. These properties of polyimide binders are suitable for various applications including insulating films, laminates, coatings, molded parts, structural adhesives, high-modulus fibers, permselective membranes, and high-temperature composites related to battery materials, especially lithium-ion batteries.