The global BMI Resins market gathered revenue around USD 175.9 Mn by the end of 2027 and is estimated to expand at a modest CAGR of 2.1% during the prediction period 2021 to 2027.
Growth Factors:
The global BMI resins market is broadly affected by several factors including increase in usage of BMI resins in various end-use industries including aerospace, electronics, and defense. Rise in global demand for composites and molding has led to significant growth in usage of BMI resins. Increase in production and demand for electronics is expected to be the primary driver for the expansion of the global BMI resins market. BMI resins are used as matrix for advanced composites. Rise in demand for BMI resins in composites and various other applications is propelling the demand for BMI resins in the aerospace & defense industry.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the BMI Resins market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global BMI Resins market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 175.9 Million by 2027 |
Growth Rate | CAGR of 2.1% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Historic Data | 2017 to 2020 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Type, Application, End Use and Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | 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, and Qin yang Tianyi Chemical Co., LTD. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
BMI Resins market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
BMI Resins Market: Dynamics
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 a low moisture absorption proclivity. They have excellent dimensional stability and one of the best high temperature properties, similar to polyamides. They 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.
BMI resins are utilized in aerospace, astronautics, and defense industries in the form of composite sheets and adhesives. BMI resins are employed in structural adhesives for assembly and structural composite applications. These resins impact resistance and multi-substrate joining in airplanes and fighter planes applications.
The global aerospace & astronautics sector is expected to expand considerably during the forecast period due to significant increase in defense and space activities by governments across the globe. Thus, rise in production in aerospace, astronautics, and defense industries is projected to boost the demand for BMI resins during the forecast period.
Manufacturers are focusing on the aerospace industry, as the share held by this segment in the BMI resins market is likely to increase during the forecast period.
Regional analysis:
North America holds the major share of the global BMI resins market. The market in the region is anticipated to expand at a CAGR of more than 1.4% during the forecast period. Increase in demand for advanced composites in the aerospace industry is driving the BMI resins market in North America. The U.S. is a key country of the BMI resins market in North America. It held significant share of the BMI resins market in North America in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Europe is also a key region of the global BMI resins market. The U.K. led the BMI resins market in Europe in 2020. Increase in demand for BMI resins in the aerospace and electronics sectors is driving the market in the U.K.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the BMI Resins Market include: 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, and Qin yang Tianyi Chemical Co., LTD.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
BMI Resins Market, by Type
BMI Resins Market, by Application
BMI Resins Market, by End Use
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the BMI Resins market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the BMI Resins market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the BMI Resins markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in BMI Resins Market Study: