Albany, NY -- (SBWIRE) -- 06/13/2017 -- Global Polyimide Films Market: Snapshot
Polyimide films used widely in electronics, aerospace, and aircraft industry as they are capable of withstanding high temperatures they are widely used to make flexible printed circuit boards and pressure sensitive tapes. Polyimide films enable implementation of compact and complex assemblies which minimizes size and weight. Polyimide films can withstand temperatures above 3000 C and are widely used for insulating wires and cables of motors and generators. Due to their lightweight they are also used in insulating the wires of aircrafts as it provides significant weight savings. According to the research report, the global polyimide films market is expected to be worth US$ 1770.1 mn by 2024 from US$927.7 mn in 2015. During the forecast period of 2016 and 2024, the overall global market is likely to register a CAGR of 7.5%.
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The increasing trend of miniaturization of electronic products and increasing demand for heat and fire resistant insulation films are expected to drive the market during the forecast period. However, the high cost of processing of polyimide films and its tendency to get hydrolyzed and shrink are anticipated to hamper the market during the forecast period. The application of polyimide films in flexible and thin photovoltaic materials and colorless polyimide films are expected to be the area of opportunity for polyimide films. Polyimide films are an ideal choice for usage as substrates in photovoltaic materials due to their high performance in the electronics industry, flexibility, and resistance to high temperature.
Flexible Printed Circuit Boards to Dominate Global Polyimide Films Market Over Forecast Period
Key applications of polyimide films include flexible printed circuit boards which accounts for more than 70% share of the global polyimide films market and is likely to be a highly lucrative segment during the forecast period. Wires and Cable insulation is expected to expand significantly during the forecast period. However the threat of substitutes from polyethylene terephthalate (PET) film and polyethylene naphthalate (PEN) film is expected to remain low during the forecast period due to the fact that, polyimide film has the advantageous characteristics of retaining its properties at high processing temperatures and provide a high range of operating temperature which is in contrast to PET and PEN films.
Asia Pacific to Offer Tremendous Scope for Growth to the Global Market
The global polyimide films market is anticipated to expand during the forecast period. In terms of volume, Asia Pacific above 40% share of the global polyimide films market in 2015 owing the huge electronics industry in China, Japan, and Taiwan. North America is likely to follow Asia Pacific in terms of consumption. It is likely to expand due to huge aerospace industry in the region. Europe is also forecasted to expand during the forecast period.
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The key players of polyimide films market include Kaneka Corporation, DuPont, SKCKOLONPI Co. Ltd, Anabond Limited, Taimide Tech Inc., I.S.T. Corporation, Saint-Gobain Performance Plastics, UBE Industries Ltd, Toyobo Co. Ltd. DuPont and SKCKOLON PI are anticipated to be the leading manufacturers of polyimide films. Manufacturers are augmenting their production capacity to meet increasing demand from end user industries. Also, manufacturers of polyimide films are investing huge amounts in R&D for developing polyimide films which is shrinkage free. The manufacturers of polyimide film in China have eaten up the share of major manufacturers as Chinese polyimide films are available in low cost.