Bismaleimide Monomer Market Share

APAC Market Statistics

The bismaleimide monomer market in the Asia Pacific is projected to hold a significant market share by the end of 2036. Backed by the massive growth in the automobile industry, and rapid industrialization in countries such as Japan, China, and India. For instance, China's automotive sector produced around 22 million passenger cars in 2021, whereas Japan secured second place for the same by manufacturing nearly 7 million passenger cars in the same year. Asia Pacific is a region that is considered to be the biggest industrial hub in the world, they include sectors like automotive, aerospace, and electronics & electrical industry. Low cost double with cheap labor and easy availability of raw materials is the key factor that is available in the Asia Pacific region that drives the growth of this market.

North American Market Forecast

Further, the North American region held the largest market share in the year 2022. The increase in production capacity and adoption of various organic and inorganic growth strategies are estimated to expand the business and product portfolio. This factor is anticipated to drive bismaleimide monomer market growth in the region during the forecast period. Also, the rise of the aerospace industry in this region is expected to drive the growth of bismaleimide monomer market in the forecast period. Bismaleimide monomers help in reducing the weight of aircraft along with reducing the fabrication cost at the same time making it more demanding in the aerospace sector.