Bismaleimide Monomer Market Trends

Growth Drivers

• Growth in the Aerospace and Defense Industry – Post-pandemic, the conditions of air traveling have been improving notably. The global availability of COVID vaccines is paving the way for the liberalization of air travel. On the other hand, to stimulate growth, defense companies are trying to concentrate their efforts on enhancing their fighter jet, space resilience, shipbuilding, and cybersecurity capabilities. Such growth in the aerospace and defense industry is increasing the demand for bismaleimide monomers. For instance, revenue for the global aerospace and defense sector was reported around USD 715 billion in 2021, an increase of 6% from 2020.

• Striving Boost in Automotive Industry - By the end of 2030, the global automotive industry is predicted to have a potential revenue of nearly USD 1.8 trillion, growing by 31% in the same year.

• Upsurge in Computer Manufacturing – Bismaleimide monomers are extensively used in various composite formulations for multi-layer printed circuit boards in high-performance computers. Therefore, the increased growth in the production of large-scale computers is another significant factor that is fueling up the demand for bismaleimide monomers. As of 2021, approximately 344 million PCs were shipped worldwide.

• Huge Development in Chemical Industry - In 2021, the chemical industry's estimated worldwide revenue reached its highest level in the previous 16 years, bringing the total to approximately USD 5 trillion.

• Rise in Research and Development Expenditure – As per the World Bank, global research and development spending increased to 2.63% of total GDP in 2020.

Challenges

• Stringent Governmental Guidelines – The first challenge that arises in front of this market, is the stringent rule and regulation regarding bismaleimide monomers put forward by the government.

• Restrictions Such as High Melting Points

• Low Electrical Conductivity