The global polyimide films market size was valued at USD 1326.8 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.70% from 2022 to 2030. Various factors are expected to drive the global polyimide films market during the forecast period. One of the key factors is the rapid growth of the electronics industry. The demand for flexible films is expected to drive the market growth. The flexible circuit board market is one of the largest segments of the polyimide films market. The polyimide films are used for insulating the circuits. These films are used in various end-use industries, including consumer electronics, automotive, aerospace, and medical. In addition to this, the automobile industry is also expected to play a major role in the growth of the market. Furthermore, increasing consumer disposable income in the developing region is further expected to drive the market growth.
Global Polyimide Films Market: Regional Insights
Regionally, the Asia Pacific is expected to dominate the global polyimide films market over the forecast period owing to the fact that the region is experiencing a rapid increase in the demand for electronics. Moreover, the development of infrastructure and the increased digitalization are also expected to promote the growth of the industry. The demand for flexible films is further expected to drive the market growth. In addition to this, the region is also experiencing a rapid increase in the demand for electronics products.
The polyimide films market in Europe is also expected to experience a significant growth in the forecast period. The region is expected to be a major contributor to the global market. Moreover, the market is also expected to experience a high degree of competition. Several leading players are involved in the market. In addition to this, there are several mergers and acquisitions taking place. Furthermore, the rise in manufacturing of electric vehicles in the region has also contributed to the market growth.
Figure 1. Global Polyimide Films Market Value Share (%), By Region, 2021
Global Polyimide Films Market Drivers:
Growing demand from electronic industry is primarily fueling growth of the global polyimide films market. Polyimide films are widely used for flexible printed circuits. Flexible printed circuits offer high-temperature resistance and lightweight properties. These products are used in a wide variety of applications, such as for digital cameras, electronic displays, and portable computers.
Increasing application in aerospace industry is again projected to foster polyimide films market growth. Growing delivery of commercial aircraft is propelling growth of the market. According to the Boeing Commercial Market Outlook 2020-2039, 43,110 aircraft are expected to be delivered during 2020-2039. Out of this, 2,430 units are regional flight deliveries, 32,270 units are single aisle, 7,480 units are wide body aircraft, and 930 units are freighter deliveries.
Global Polyimide Films Market Opportunities:
Growing adoption of hybrid and electric vehicles is projected to bring bright market opportunities for key players over the forecast period. According to EV Volumes, by 2030, the global electric vehicle stock (excluding two-/three-wheelers) may reach nearly 140 million vehicles, accounting for 7% of the global vehicle fleet. It is projected that 30% of all vehicles, except two-wheelers, may be electric by 2030.
Increasing demand for flexible printed circuits, particularly in the automotive industry, is expected to present lucrative growth opportunities for the market. The market is also expected to benefit from the increased use of electronic gadgets and healthcare wearables device.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 1326.8 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.70% | 2030 Value Projection: | US$ 2089.2 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Arakawa Chemicals Industries Ltd, Du Pont-Toray Co. Ltd, DuPont, Flexcon Company Inc., IST Corporation, Kaneka Corporation, Liyang Huajing Electronic Material Co. Ltd, Saint-Gobain Performance Plastics, Shinmax Technology Ltd, PI Advanced Materials Co. Ltd, Suzhou Kying Industrial Materials Co. Ltd, Taimide Tech Inc., Tianjin Hengji International Trade Co. Ltd, UBE Industries Ltd, Yunda Electronic Materials Co. Ltd, and Zhejiang Hecheng Electric Technology Co. Ltd |
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| Restraints & Challenges: |
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Global Polyimide Films Market Trends:
The rising trend of using electronic devices due to growing penetration of internet and disposable income of consumers is expected to increase the demand for digital isolators, which isolate digital signals. This ongoing trend is projected to uplift the market growth of polyimide films market.
Increasing focus of key players to increase the production capacity of polyimide films is expected to emerge as another major trend for key players. For instance, in May 2022, DuPont Interconnect Solutions, a business within the Electronics & Industrial segment has announced the completion of its $250 million capital project to expand production of Kapton® polyimide film and Pyralux® flexible circuit materials at the Circleville manufacturing site.
Global Polyimide Films Market Restraints:
Declining automobile production is expected to restrict the market growth of polyimide films market. According to the International Organization of Motor Vehicle Manufacturers (OICA), the automotive production witnessed a 5.2% decline, from 96,869,020 units in 2018 to 91,786,861 units in 2019. Also, the sales of the automobiles declined in 2019, from 95.06 million units in 2018 to 91.29 million units in 2019. The production volume further declined through 2020.
The high maintenance costs will restrain businesses from investing in this market. This factor is expected to restrict the market growth of polyimide films over the forecast period.
Figure 2. Global Polyimide Films Market Value Share (%), By Application, 2021
Global Polyimide Films Market Segmentation:
The global polyimide films market report is segmented into application, end-user industry, and geography
Based on application, the market is segmented into Flexible Printed Circuit, Specialty Fabricated Product, Pressure Sensitive Tape, Wire and Cable, and Motor/Generator. Out of which, Flexible Printed Circuit is expected to dominate the global market over the forecast period and this is attributed to the growing demand from wide variety of applications, such as for digital cameras, smartphone, electronic displays, and portable computers. Also, growing demand from defense equipment application such as, such as military vehicles, military aircraft, and other aerospace systems is again fueling segment growth.
Specialty Fabricated Product segment is also expected to witness significant growth in the near future and this is owing to the growing demand from spiral-wrapped tubing, space blankets, bar code labels, speaker coils, aircraft shim stock, gaskets and diaphragms, nuclear linear accelerator insulation, carrier and transport belts, and sensors.
Based on end-user industry, the market is segmented into Electronics, Automotive, Aerospace, Labelling, and Other End-user Industries. Out of which, Electronics is expected to dominate the global market over the forecast period and this is attributed to the fact that it is an optimal substrate for high-temperature applications, making it highly suitable for the electric and electronics products. It is widely used to manufacture printed circuit boards, wires and cables, semiconductors, generators, motors, integrated circuits, speakers, rotating machines, tape-automated bonding, computers, heavy equipment, medical technologies, and recording devices.
Automotive segment is also expected to witness significant growth in the near future. In automotive industry it is used in carrier and transport belts, flexible printed circuits and boards, sensors, lithium-ion batteries, internal combustion engines, HVAC systems, generators, and motors, among others.
Global Polyimide Films Market: Key Developments
In April 2019, DowDuPont Inc. completed the separation of its Materials Science Division through the spin-off of Dow Inc.
In March 2019, The DowDuPont announced that it is expanding the production of Kapton® polyimide film and Pyralux® flexible circuit materials at Ohio plant to meet growing market demand in automotive, consumer electronics, telecom and defense.
In March 2019, Kaneka Developed “Colorless Polyimide Film” for Flexible Displays, Thus expanding the Polyimide Business for Organic EL Displays
Global Polyimide Films Market: Key Companies Insights
The global polyimide films market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global polyimide films market are Arakawa Chemicals Industries Ltd, Du Pont-Toray Co. Ltd, DuPont, Flexcon Company Inc., IST Corporation, Kaneka Corporation, Liyang Huajing Electronic Material Co. Ltd, Saint-Gobain Performance Plastics, Shinmax Technology Ltd, PI Advanced Materials Co. Ltd, Suzhou Kying Industrial Materials Co. Ltd, Taimide Tech Inc., Tianjin Hengji International Trade Co. Ltd, UBE Industries Ltd, Yunda Electronic Materials Co. Ltd, and Zhejiang Hecheng Electric Technology Co. Ltd
*Definition: Polyimide films can be produced on metal substrates using a process called thermal imidization. This process involves solution casting polyimide solutions, and results in the curling of the film. Polyimide films are available as machined and uncured resins and are available in a variety of stock shapes. These films are primarily used in applications such as flexible solar cells and displays. Polyimide films are produced in various industries such as electronics, defense, automotive, and aerospace. In recent years, major market players have made improvements to their products. These innovations have also helped to enhance the demand for these films.
Several high-performance polyimide films have been developed in recent years. These films are extensively used in electrical insulation, microelectronics, and optoelectronic display manufacturing. They are also used in flexible active-matrix organic light-emitting diode displays, which must incorporate solar cells to function. The demand for these films is expected to increase in the near future as the electronics industry is projected to expand. These films are highly resistant to high temperature environments and offer a wide range of thicknesses and properties.
Market Dynamics:
Increasing demand for electronics and other gadgets, such as smartphones, computers, and tablets, is boosting growth of the global polyimide film market. Polyimide films have long-term stability, high electrical conductivity, and thermal resistance. These characteristics help to ensure the reliability of flexible printed circuits. These devices have become an integral part of many electronic systems. Moreover, the rapid development of the aerospace industry and growing consumer electronics industry is again projected to drive the market growth. In addition to this, the increased use of flexible printed circuits will further fuel the market growth.
One of the major limitations of the polyimide film market is the high cost of processing. This factor is expected to hinder the market growth.
Key features of the study:
Detailed Segmentation:
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