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The Global polyimide film market size is estimated to grow by USD 1,296.7 million between 2022 and 2027 and the size of the market is forecast to increase at a CAGR of 10.11%.
The growth of the market depends on several factors, including growth in the automotive sector, the growing consumer electronics industry, and the functional features of polyimide films.
This report extensively covers market segmentation by End-user (electrical and electronics, automotive, aerospace, and others), Application (flexible printed circuits, specialty fabricated product, pressure sensitive tapes, wires and cables, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing consumer electronics industry is driving the polyimide film market. The consumer electronics industry's growth is fueled by several factors, including the rise in disposable income, high Internet penetration, a robust supply chain, and the growing urban population. The increasing middle-class population is expected to drive this industry's growth, as they purchase various products like wearable electronic devices, LED lights, cellular phones, displays, projectors, and document-handling systems. Polyimide films, used in flexible circuit materials for consumer electronic products like mobile devices and computers, are in high demand. Moreover, strong economic growth and urbanization are expected to boost the middle-class population's purchasing power. By 2030, the APAC region is anticipated to account for more than 60% of the global middle-class population. In India, the demand for consumer electronics and home appliances is predicted to reach USD 33.96 billion by 2025, making it a significant contributor to the consumer electronics industry's growth.
To encourage manufacturing capacities, many developing countries are providing certain exemptions on duties. For instance, the Department of Electronics and Information Technology in India has taken measures to increase product manufacturing. With the rising demand for consumer electronics goods, production capacity has also increased, leading to a surge in demand for polyimide films used in the manufacturing of components.
The excessive cost of polyimide films is a major restrain in the market. Polyimide films possess excellent mechanical, electrical, temperature, and chemical resistance properties, making them suitable for various industries. However, the major disadvantage of these films is their high cost, which is nearly ten times higher than that of polyethylene terephthalate (PET) films.
The high cost of polyimide films is a result of the raw materials required for their production. Manufacturers create polyimides by polycondensing tetracarboxylic dianhydrides and diamines, which is a cumbersome process that requires the regulation of molecular weights of the raw materials. This regulation increases the overall cost of the process, as the molecular weights of the raw materials ultimately determine the final product's properties.
The emergence of transparent polyimide films for optoelectrical devices is an opportunity to help the players flourish in the market. Transparent polyimide films are becoming increasingly popular as they offer the advantages of both traditional aromatic polyimide films and polymer optical films. These films are highly versatile and can be used in various applications such as substrates for flexible display devices, flexible solar cells, flexible printing circuit boards, and conductive substrates for touch panels. Polyimide films are expected to play a crucial role in the fabrication of microelectronic and optoelectronic products. As foldable and flexible smartphones and wearables become more prevalent, companies are developing transparent polyimide films to take advantage of this opportunity.
The rise in the demand for polyimide films for television and electronics manufacturing applications is largely due to the increasing adoption of optical films in liquid crystal display (LCD) panels. The demand for polyamide films based on polyimide is further boosted by the introduction of advanced organic light-emitting diode (OLED) displays and the increase in screen size for television sets. Players in the consumer electronics industry manufacture display screens of varying sizes and configurations for electronic products and televisions. The market is expected to focus on cost-effective polyamide film solutions for LCD products during the forecast period, which is likely to contribute to the market's growth.
Based on the end-user, the electrical and electronics segment will account for the largest share of the global polyimide film market during the forecast period. The properties of polyimide films, such as their ability to maintain their physical, mechanical, and electrical properties under high temperatures, are expected to drive their use in the electronics segment.
The market share growth of the electrical and electronics segment will be significant during the forecast period. The properties of polyimide films, such as their ability to maintain their physical, mechanical, and electrical properties under high temperatures, are expected to drive their use in the electronics segment. The various applications where polyimide films are used in the electronics segment are magnetic wire insulation, soldering, coil insulation, and insulation.
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The electrical and electronics segment was valued at USD 487.14 million in 2017 and continued to grow until 2021. Polyimide films are transparent and have a high temperature and chemical resistance. Therefore, they are used in printed circuit boards extensively. The other applications in the electrical segment, such as in capacitors, insulation materials for transformers, coil insulation, and magnetic wire insulation, are driving the extensive use of polyimide films.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The major end-user industries, such as automotive, construction, medical, and; aerospace and defense, have been flourishing in APAC owing to the significant economic growth of the region. The high economic growth rate, the increase in the number of manufacturing industries, the increase in foreign investments, the availability of cheap labor, and the rise in the use of polyimide film across various industries and applications are the few major factors that will fuel the growth of the market in APAC. Countries such as China, South Korea, Japan, and India are the major hubs for automotive production. Thus, these factors are expected to foster the growth of the market in APAC during the forecast period.
The COVID-19 pandemic negatively impacted the market in APAC. Although the regional automotive industry witnessed recovery as the sales of NEVs in China increased by more than 2 million units compared to 2020, the automotive industry in China also faces persistent challenges of rising raw material costs due to inflation. Therefore, the regional market is expected to witness moderate growth during the forecast period.
Vendors are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Ube Corp. - The company offers polyimide film which is used as plastics, films, laminating resins, insulating coatings, and high temperature structural adhesives under the chemical segment. This segment offers polyamide, nylon, resin; caprolactam, industrial chemical, polybutadiene, synthetic rubber, battery materials; fine chemicals, polyimide; and specialty products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Polyimide Film Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Polyimide Film Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.11% |
Market growth 2023-2027 |
USD 1,296.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.56 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Arakawa Chemical Industries Co. Ltd., Changshu Huaqiang Insulating Materials Co. Ltd., Compagnie de Saint Gobain SA, Electron Microscopy Sciences, Ensinger GmbH, FLEXcon Co. Inc., Kaneka Corp., Mitsui Chemicals Inc., Nitto Denko Corp., PPI Adhesive Products Ltd., Shanghai Qian Feng Insulating Material Co. Ltd., Suzhou Kying Industrial Materials Co. Ltd., Taimide Tech. Inc., Taiwan Long Meng Composite Materials Co. Ltd., Ube Corp., Von Roll Holding AG, Yunda Electronic Materials Co. Ltd., Zhuzhou Times New Material Technology Co. Ltd., and DuPont de Nemours Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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