The Europe Polyamide-imide Market would witness market growth of 7.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 25,401.6 Tonnes, showcasing a growth of 6.5% (2019-2022).
The need for enhanced fuel efficiency and lower emissions has led to the adoption of PAI in critical engine components. Its use in aerospace applications, such as structural components and electrical connectors, has also increased. Its exceptional electrical insulation properties have made it valuable in the electronics and electrical sectors. As technology advances and the demand for miniaturization and high-performance electronics continues to surge, the use of PAI is expected to grow. The oil and gas industry has leveraged PAI's resistance to chemicals and high temperatures for various applications. These include downhole tools, seals, and other components exposed to extreme oil and gas exploration and production conditions.
The industry's demand for such high-performance materials has driven the growth of the market. Developing new grades and formulations of the compound has been a notable trend. Research and development efforts have focused on improving the material's properties, enhancing its cost-effectiveness, and expanding its applications. These innovations could open up new markets and industries for PAI. Industries that require materials to perform under extreme conditions, such as high temperatures, aggressive chemicals, and mechanical stress, have turned to PAI. As technology advances, the need for high-performance materials in electronics and semiconductor manufacturing has increased. Polyamide-imide's electrical insulation properties align with the requirements of modern electronics.
Europe is home to several electronics and electrical equipment manufacturers. PAI's excellent electrical insulation properties make it valuable for electrical connectors, sockets, and other components where electrical performance and reliability are crucial. Europe's chemical industry relies on materials that can resist chemical exposure. As the automotive industry in Germany continues to grow and adapt to changing consumer preferences, technology advancements, and environmental considerations, the use of PAI materials is expected to expand in various high-performance applications within vehicles. The above factors will drive the market growth in this region.
The Germany region dominated the Europe Polyamide-imide Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $64,289.5 Thousand by 2030. The UK region is exhibiting a CAGR of 6.3% during (2023 - 2030). Additionally, The France region would experience a CAGR of 8% during (2023 - 2030).
Based on Application, the market is segmented into Molding Resins, Wire Enamels, Coating, Fiber, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Polyamide-imide Market will Hit $1.1 Billion by 2030, at a CAGR of 7.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Solvay SA, Swicofil AG, Kermel, Toyobo Co., Ltd., LG Innotek Co Ltd (LG Display), Fujifilm Holdings Corporation, Huntsman Corporation, Ensinger GmbH, Hitachi, Ltd. and Mitsubishi Chemical Holdings Corporation.
By Application (Volume, Tonnes, USD Million, 2019-30)
By Country (Volume, Kilo Tonnes, USD Million, 2019-30)
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