Global Bismaleimide (BMI) Resins Market, By Type (Bismaleimide Resin Powder, Bismaleimide Resin Solution), Application (Composites, Adhesive, Moldings, Others), End-User (Aerospace, Automotive, Military, Electronics) – Industry Trends and Forecast to 2029
Market Analysis and Size
BMI resins have increased dramatically as the global demand for composites and molding has increased. The growth of the global BMI resins market is predicted to be driven by an increase in production and demand for electronics. For advanced composites, BMI resins serve as a matrix. The aerospace and military industry's need for BMI resins is growing due to increased demand in composites and various other applications. Numerous factors influence the worldwide BMI resins market, including rising use of BMI resins in different end-user sectors, such as aerospace, electronics, and the military.
Data Bridge Market Research analyses that the bismaleimide (BMI) resins market was valued at USD 99.75 million in 2021 and is expected to reach USD 147.38 million by 2029, registering a CAGR of 5.0 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Market Definition
A BMI resin is also known as Bismaleimide resins (BMI). It is a yellow to brownish fine crystalline powder, which is a new class of thermosetting polymers that are used mainly by industry because they combine several unique features, including excellent physical property, preservation at elevated temperatures and in wet environments, almost constant electrical properties over a wide range of temperatures and no flammability properties. Bismaleimide resin has become a leading type of thermosetting polyimides.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Bismaleimide Resin Powder, Bismaleimide Resin Solution), Application (Composites, Adhesive, Moldings, Others), End-User (Aerospace, Automotive, Military, Electronics)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Evonik Industries AG (Germany), Hexcel Corporation (U.S), HOS-Technik Vertriebs- und Produktions-GmbH (Austria), Huntsman International LLC (U.S), Solvay (Belgium), Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S), Renegade Materials corporation (U.S), ABR Organics Limited (India), Xianyang Qin Yang Chemical Co., Ltd. (China), Toray Advanced Composites (U.S), 3M (U.S), Northern Composites (U.S), Teijin Armid B.V. (Japan), CAPLINQ Corporation (Canada)
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Market Opportunities
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Bismaleimide (BMI) Resins Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rise in the number of government initiatives for spreading consumer awareness
Rising awareness regarding BMI resins' benefits is expected to positively impact the market's revenue growth. BMI resins are valued for their high-temperature performance and high strength. The performance of BMI resins lies between very high temperature-resistant polyimides and lower temperature-resistant epoxy systems.
- Increase the demand in different areas
Growing application areas of BMI resins significantly drive revenue development of the global BMI resins market. These resins are broadly used in electronic and aerospace industries as matrix resins for high-performance composites. They can also be used as high-performance adhesives.
Opportunities
- Rise in Product Innovation and Technology advancement
The government's focus on digitalization, technological advancements and the rise in demand for electronics are some aspects expected to continue to open up profitable business opportunities for major players and new entrants in the market. Bismaleimide adhesives are used to manufacture electronic devices, including flexible printed electronic circuit boards where high-temperature resistance is required.
Moreover, a rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market's growth rate.
Restraints/Challenges.
The high cost of raw materials will act as a market restraint, slowing the industry growth rate. The global BMI resins market growth is significantly hampered by various unfavorable factors, High curing temperature, high melting points, and extreme brittleness of BMI resins are the major market restrains that will obstruct the market's growth rate.
This bismaleimide (BMI) resins market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bismaleimide (BMI) resins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Bismaleimide (BMI) Resins Market
The worldwide impact of the Covid-19 pandemic on all elements of life and work and all social levels in many countries. The pandemic had a negative influence on the global market for BMI resins. The industry is changing as a result of Covid-19, with the impact of the pandemic varying across market segments. Now, the pandemic has wreaked havoc on the global aerospace industry, with Boeing and Airbus continuing to bear the brunt of the overall drop in travel and governmental restrictions.
Recent Development
- In March 2019, Teijin Limited created the first carbon fibre sheet with a pre-impregnated BMI resin matrix. It has a high level of heat and bearing resistance. With this breakthrough, the company will be able to provide its product to the aerospace industry.
Global Bismaleimide (BMI) Resins Market Scope
The bismaleimide (BMI) resins market is segmented on the basis of types, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Bismaleimide Resin Powder
- Bismaleimide Resin Solution
Application
- Composites
- Adhesive
- Moldings
- Others
End-User
- Aerospace
- Automotive
- Military
- Electronics
- Others
Bismaleimide (BMI) Resins Market Regional Analysis/Insights
The bismaleimide (BMI) resins market is analysed and market size insights and trends are provided by country, types, application and end-user as referenced above.
The countries covered in the bismaleimide (BMI) resins market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
Asia-Pacific dominates the bismaleimide (BMI) resins market share and revenue and will continue to flourish its dominance during the forecast period. This is due to expanding aerospace and defense industry in the Asia-Pacific region which increases the demand of BMI resins in this region. The Asia-Pacific region's BMI resins market is growing as Asian countries like China, India, and South Korea become more industrialized.
North America is likely to be the fastest-growing market throughout the forecast period, resulting in increased demand for BMI resins in this region due to the use of liquid-based bismaleimide (BMI) resins in adhesives applications,
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to oversized or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bismaleimide (BMI) Resins Market Share Analysis
The bismaleimide (BMI) resins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies focus related to bismaleimide (BMI) resins market.
Some of the major players operating in the bismaleimide (BMI) resins market are:
- Evonik Industries AG (Germany)
- Hexcel Corporation (U.S)
- HOS-Technik Vertriebs- und Produktions-GmbH (Austria)
- Huntsman International LLC (U.S)
- Solvay (Belgium)
- Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S)
- Renegade Materials corporation (U.S)
- ABR Organics Limited (India)
- Xianyang Qin Yang Chemical Co., Ltd. (China)
- Toray Advanced Composites (U.S)
- 3M (U.S)
- Northern Composites (U.S)
- Teijin Armid B.V. (Japan)
- CAPLINQ Corporation (Canada)
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