BMI Resins Market (Type - Powder, and Solution; Application - Composites, Adhesives, Molding, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

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 of 2021-2027.

Market Insight

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 and astronautics.

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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.