Covina, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Polyimide Films are applied in electric motors and wire insulation which helps in operating harsh temperature where electricity and heat management is a major concern. They are mostly employed for electronic and electrical applications due to its thermal stability, excellent mechanical strength and electrically insulating properties.
Growing population and demand for consumer electronics product such as LEDs, modern computers, mobiles and others has provided lucrative opportunities in target market growth. Further, rising purchasing power of an individual and increased demand for electric vehicles across globe has become another major factor in market growth. Furthermore, advancement in technology trend of lightweight vehicles in automotive industries is expected to boost the demand for Polyimide Films market growth.
Key Highlights:
- In December 2022, Toray Industries Inc., launched new version of its ‘PHOTONEECE’ photosensitive polyimide coating material. The new launched polyimide coating employs technology free of N-Methyl-2-pyrrolidone (NMP) that help in lowering potential environmental impacts and thus, suitable for power semiconductor applications.
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Industry Dynamics:
- Growing Demand in Electronics: Polyimide films are widely used in the electronics industry due to their excellent thermal stability and electrical insulation properties. They are commonly used in applications such as flexible printed circuit boards (FPCBs), smartphone components, and as insulating layers in semiconductors. The increasing demand for smaller, lighter, and more efficient electronic devices has been a driving factor for the growth of the polyimide films market.
- Aerospace and Automotive Applications: The aerospace and automotive industries have also been significant consumers of polyimide films. These films are used in aerospace for applications like aircraft engine insulation, wiring harnesses, and thermal barriers. In the automotive sector, polyimide films find use in various components, including sensor protection, wiring systems, and high-temperature gaskets.
- Emerging Applications: Polyimide films continue to find new applications in emerging technologies. For example, they are used in the manufacturing of flexible displays, flexible solar panels, and as a substrate for flexible and foldable electronic devices. As these technologies advance, the demand for polyimide films is expected to grow further.
- Global Market Dynamics: The polyimide films market is influenced by global economic conditions, trade policies, and technological advancements. The market is also affected by the availability of raw materials, such as monomers used in polyimide film production. Environmental regulations and sustainability concerns may impact the industry, driving the development of more eco-friendly polyimide films and manufacturing processes.
Growth Drivers:
- Electronics Miniaturization: Increasing demand for smaller electronic devices drives the need for flexible, thermal-resistant polyimide films.
- High-Temperature Resistance: Polyimide films' ability to withstand extreme temperatures is vital in aerospace, automotive, and electronics industries.
- Aerospace and Automotive Growth: Expanding aerospace and automotive production increases the demand for polyimide films in lightweight and high-performance applications.
- Emerging Tech Applications: Polyimide films are finding new uses in emerging technologies like flexible displays, renewable energy solutions, and medical devices.
Restrains:
- High Production Costs: The manufacturing of polyimide films involves complex processes and raw materials, making them relatively expensive to produce compared to other materials.
- Limited Awareness: Some industries and manufacturers may not be fully aware of the benefits and potential applications of polyimide films, which can limit market adoption.
- Competitive Alternatives: In some applications, alternative materials like flexible printed circuit boards (FPCBs) or ceramic substrates may compete with polyimide films, impacting market growth.
- Environmental Concerns: Environmental regulations and sustainability considerations may lead to the development of more eco-friendly materials, potentially affecting the demand for traditional polyimide films.
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Segmentation:
- By Application: Flexible Printed Circuit, Specialty Fabricated Product, Pressure Sensitive Tape, Wire and Cable, and Motor/Generator
- By End- User Industry: Electronics, Automotive, Aerospace, Labeling, and Other End-user Industries
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Analyst View:
Growing automotive industries worldwide has become a leading factor in market growth. Presence of major players and growing market consolidation activities to develop new product and strengthen its position in global market is likely to propel Polyimide Films Market growth over the forecast period.
Key Players:
The prominent player operating in the global Polyimide Films market includes Anabond Ltd., Arakawa Chemicals Industries Ltd., Du Pont-Toray Co. Ltd., Flexcon Company Inc., I.S.T Corporation, Kaneka Corporation, Liyang Huajing Electronic Material Co. Ltd., Saint-Gobain, Shinmax Technology Ltd., and Skckolonpi Co. Ltd.
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