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Polyimide Film Market Cagr Status, Market Size Estimation, Industry Share, Price Trend 2023
Polyimide Films are used in various end-user industries such as automobile, aerospace, healthcare, and electrical and electronics among others. The growing demand from the developing region across the globe is the major factor driving the Global Polyimide Films Market. The growing government investments in the development of retail sector coupled with the augmenting demand from the automobile sector are other factors contributing to the growth of the market. Among the various end-user industry electrical & electronics is the dominant segment and expected to show the same trend during the forecast years.
The properties such as high tensile strength, thermal stability, lightweight and flexibility make them ideal for the use of laptops, mobile phones, Cam recorders, and other display devices.
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The Global Polyimide Film Market is segmented into the Application and End-Use Industry.
On the Basis of the Application, the global market is segmented into the flexible printed circuit (FPC), specialty fabricated product, pressure sensitive tape, wire & cable, motor & generator and others.
On the Basis of End-User Industry, the Global Polyimide Film Market can be further segmented into electronics, aerospace, automotive, labeling, medical, mining & drilling, and others.
Among the various application segment, the flexible printed circuit was the leading one followed by wires & cables in 2016 and is anticipated to exhibit the same trend during the forecast period. The growing demand for flexible printed circuits in the electronic products is the major factor positively driving the market. The developing retail sector in the emerging economies has made the availability of consumer electronics easier which is another factor augmenting the demand for flexible printed circuits. Wire & cables are extensively used in the aerospace and the automobile industry. High strength, thermal & chemical resistance, flammability, and solvent resistance are some of the major properties attributing to the growing demand for the segment.
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Among the various End-Use Industries electrical and electronics accounts for over 30% of the market share and is expected to continue leading during the assessed years. Moreover, the automobile industry is expected to be the second largest end use industry, and aerospace is anticipated to be the fastest. Aerospace is anticipated to be an emerging segment with the considerable CAGR during the forecast period.
Some of the prominent players operating in the Global Polyimide Film Market are E. I. du Pont de Nemours and Company (U.S.), TORAY INDUSTRIES, INC. (Japan), SKC Kolon PI (South Korea), Kaneka Corporation (Japan), Ube Industries LTD (Japan), Taimide Tech Inc. (Taiwan), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), FLEXcon Company Inc. (U.S.), and Saint-Gobain SA (France) among others.
The Global Polyimide Films Market is spanned across five key regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these, Asia Pacific is the leading market and was accounted for revenue of over 35% in 2016. The developing end-user industries in the region such as electronics and automotive are expected to fuel the market growth. Moreover, the favorable government regulation coupled with growth in the retail sector is another factor responsible for market growth. The major counties attributing to the growth of Polyimide Films in this region are India, China, and Japan. North America is anticipated to be the second largest market during the assessed years. The developed industries along with the increasing adoption rate are surging the demand for Polyimides Market in the region.
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