The polyimide films market was valued at USD 2.1 billion in 2017 and is further expected to become USD 4.1 billion by 2024. Huge demand of this market is attributed due to innovative design solutions provided to several industries such as wind energy, consumer electronics, aerospace, industrial applications and automotive. Moreover, rapid increase in this market is attributed towards swelling applicability in manufacturing segment of electronics and semiconductor components.
The escalating demand for lighter electronic products is projected to bolster the growth of polyimide films market in the near future. Furthermore, wireless communication and flexible displays are further expected to provide ample growth of this market by 2024. The increasing demand for polyimide films is widely being inclined towards the amplifying demand for electronic products across the globe. The widespread application of these films in the aerospace sector due to its light weight helps in improving the performance of the engine and helps in saving fuel is further bolstering the growth of polyimide films market across the globe. However, poor resistance of these films to hydrolysis makes its application complicated in the humid weather. These factors are further expected to restrain the growth of global polyimide films market in the near future.
On the basis of end-user market is segmented into electronics, aerospace, automotive, mining & drilling, labelling, and medical. Among these industries, the electronic segment is expected to witness fastest growth with the highest CAGR of 10.6% in terms of value during 2018-2024. Additionally, polyimide films offer exceptional insulation properties under rising temperatures and acquaintance to destructive chemicals. Moreover, these films provide outstanding chemical, temperature control and project flexibility to equipment and manufacturer developers. Henceforth, electronics end-use industry is the largest user of polyimide films market globally.
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On the basis of application, market is segmented into flexible printed circuit, pressure sensitive tape, specialty fabricated product, wire & cables, and motor/generator. Amongst these applications, flexible printed circuit segment is expected to witness highest growth of 10.7% in terms of value during the forecast period. The demand for polyimide films in flexible printed circuit segment is anticipated to be high as the flexible printed circuits are broadly utilized for the purpose of enhancing performance and decreasing the size of electronic systems.
Geographically, Asia-Pacific is expected to witness fastest growth of 10.8% in terms of value during the forecast period. The key countries that are attributing high demand for the polyimide films in the region include China, Japan, South Korea and India. The major factors that are driving the growth of this market include price deflation, increasing household incomes and upgradation of technology. North America held the second largest share of the polyimide films market in 2017 due to increasing utilization of these films in advanced aerospace industry, mounting use of insulation tape in automotive industry and application of PI films in healthcare sector.
The key players in this industry are selling superior quality polyimide film that holds an exclusive convergence of properties that makes it suitable for application in several industries across the globe. Some of the major players operating in the global polyimide films market are Kaneka Corporation, Saint-Gobain S.A., E.I. Du Pont De Nemours and Company, Arakawa Chemicals Industries, Ltd., SKCKOLONPI, Inc., Yunda Electronic Materials Co., Ltd., Taimide Tech. Inc., I.S.T. Corporation, FLEXcon Company, Inc., and UBE Industries Ltd.
Global Polyimide Films Market Coverage
Application Insight and Forecast 2014 - 2024
End-User Insight and Forecast 2014 - 2024
Polyimide Films Market by Region
Middle East and Africa
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