A recent report published by
Infinium Global Research on BMI resins market provides in-depth analysis of
segments and sub-segments in the global as well as regional BMI resins market.
The study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional BMI resins market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast and
dollar values of the global BMI resins market. According to the report, the global BMI
resins market is projected to grow at a CAGR of 2.1% over the forecast period
BMI resins market was valued at
USD 142.9 million in 2020 and expected to reach USD 163.2 million in 2027, with a
CAGR of 2.1% during the forecast period. In the worldwide composite
applications, Bismaleimide (BMI) resins are an attractive new addition. BMI
resin is a type of thermosetting polyimide that offers several exclusive
characteristics such as outstanding physical property retention at high
temperatures and in wet environments, stable electrical properties over an
enormous array of temperature settings, and no flammability properties as well.
It has been extensively used as a matrix for advanced composites in aerospace
The demand for the number of BMI
resins has increased due to its unique features which primarily drive the
global BMI resins market. BMI resins possess several unique features including
exceptional physical property retention at high temperatures and in wet
environments. Increased adoption of BMI resins in high-tech fields such as
aerospace and defense industries is boosting the market growth. In aerospace
and astronautics applications, thermosetting BMI resins have been widely used
as matrices for advanced composites. BMI resins possess outstanding thermal and
oxidative stability, as well as electrical and mechanical properties. They also
possess a comparatively low propensity for moisture absorption. However, some
drawbacks of unmodified BMI resins include high melting points, high curing
temperature, and extreme brittleness which hamper the market growth. Moreover,
the development and the range of applications of BMI resins are expected to
provide opportunities in the market.
The impact of the
Covid-19-pandemic over the world strains all areas of life and work worldwide
as well as all classes of population in different countries. The pandemic has
negatively impacted the global BMI resins market. The industry is changing due
to Covid-19, whereby the impact of this pandemic is different in the various
market segments. At present, the pandemic has disrupted the global aerospace
industry, where Boeing and Airbus are and will continue to suffer a lot from
the overall decline in travel, including governmental restrictions.
Geographically, Asia Pacific is
anticipated to hold a premium share in the global BMI resins market and is expected
to continue its dominance over the forecast period. The growing
industrialization in Asian countries such as China, India, and South Korea
stimulates the growth of the BMI resins market in the Asia-Pacific region. In
addition, the expanding aerospace and defense industry in the Asia-Pacific
region contributes to the growth of the Asia-Pacific BMI resins market. The
adoption of liquid-based BMI resins in adhesives applications driving the
demand in the North American region.
The report on the global BMI resins
market covers segments such as type, and application. On the basis of type, the
sub-markets include powder, and solution. On the basis of application, the
sub-markets include composites, adhesives, molding, and others.
The report provides profiles of
the companies in the market such as Hexcel Corporation, HOS-Technik GmbH,
Evonik Industries AG, Huntsman International LLC, Solvay, Mitsubishi Chemical
Corporation, Qin yang Tianyi Chemical Co., LTD., Honghu Shuangma Advanced
Materials Tech Co., Ltd, Renegade Materials, and ABR Organics Limited.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the BMI resins market. Moreover, the study highlights current market
trends and provides forecast from 2021-2027. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.