The global bismaleimide monomer market was valued at US$ 59.3 Mn in 2020 and is expected to reach US$ 80.7 Mn by 2031, expanding at a CAGR of 2.7% during the forecast period of 2021 to 2031. Bismaleimides are compounds that possess two maleimide groups connected by nitrogen atoms. Bismaleimide monomer exists in the form of yellow tan powder. Bismaleimide-based polymers are primarily used in high temperature applications with temperatures up to 250°C. These compounds are used as crosslinking reagents in polymer chemistry. Bismaleimide monomers are often blended with reactive co-monomers such as vinyl & allyl compounds, allyl phenols, isocyanates, and aromatic amines, as these provide high toughness and flexibility. Bismaleimide monomer possesses thermal, mechanical, and dielectric properties. It also offers chemical resistance, toughness, and moisture resistance.
Bismaleimide monomer is widely used in motor insulation materials, laminates, unidirectional weftless tapes, high temperature resistant dip varnishes, mica tapes, electronic copper clad laminates, molded plastics, powder coatings, advanced composite matrix resins, casting parts, aerospace structural materials, heat resistant structural components of carbon fibers, high-end printed circuit boards, engineering plastics (polypropylene, nylon, polyamide, acrylonitrile butadiene styrene, polyvinyl chloride, and polybutylene terephthalate), and other functional materials.
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Major Drivers of Bismaleimide Monomer Market
The rise in demand for thermoset resin is expected to boost the global bismaleimide monomer market during the forecast period. Thermoset resins are photochemical materials utilized to manufacture composites. Thermoset resins are cured through catalyst or heating or combination of the method to produce finished goods. Most common thermoset resins are epoxy, polyester, polyurethane, and bismaleimide. Bismaleimide is high temperature thermoset monomer that is widely used in the manufacture of thermoset resins. The rise in demand for thermoset resins, especially in the electronic & electrical industry for manufacturing printed circuit boards and components materials, is anticipated to propel the demand for bismaleimide monomer.
Thermoset resin is widely adopted in the aerospace industry due to its high heat resistance, high dimensional stability, and electrical insulation capabilities. Thermoset resin is also resistant to solvents due to its three-dimensional cross-linked structure.
Thermoset resin possesses different types of polymers such as polyamides, vinyl esters, bismaleimide, epoxies, and polyesters. The demand for thermoset resin is driven by the introduction of innovative monomers such as bismaleimide. This is anticipated to propel the bismaleimide monomer market.
Aerospace is a prominent and powerful industry across the globe, especially in the U.S. and Europe. It comprises military aircraft, missiles, space, commercial airliners, and general aviation. Aerospace is a rapidly expanding industry. Countries such as the U.S., France, Germany, Italy, the U.K., and Spain are notable importers of aircraft parts and devices. For instance, sales of F-35 by Lockheed Martin increased by 40% in 2017. The company also plans to increase its annual deliveries of 160 aircraft by 2023. This is anticipated to boost the bismaleimide monomer market during the forecast period.
Bismaleimide is a high temperature resistant, light weight, strong, non-corroding material that is widely preferred in the aerospace industry. Rapid increase in acceptance of bismaleimide monomer for making composites and growth in demand for recyclable and fast-curing materials are expected to boost the aerospace industry, thereby augmenting the bismaleimide monomer market.
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Restraints of Bismaleimide Monomer Market
The availability of substitute monomers is restraining the bismaleimide monomer market. Bismaleimide monomer is a niche market; however, it is estimated to contract in the near future due to the availability of substitute monomers. Bismaleimide materials are brittle after curing and are unlikely to be used as matrix resins in high performance composites. Another major drawback of bismaleimide monomer is poor solubility in solvents, leading to poor processability, high melting temperature, and narrow temperature range for processing. These factors are estimated to restrain the bismaleimide monomer market.
Epoxy monomer is increasingly being used in the aerospace market since the past few years, as it is less brittle and offers tough formulations for higher resistance. It also possesses excellent water resistance capability and its 260°F cures system is widely used in the manufacture of helicopter blades and other commercial parts.
Curing of epoxy with aromatic agents results in more stronger and rigid structure. Epoxy material is widely available in the market and possesses high mechanical properties, low shrinking post curing, easy processing, and higher corrosion resistance to water and heat. These benefits have boosted the epoxy monomer’s share in end-use applications, thereby adversely affecting the bismaleimide monomer market.
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