New York, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Polyimide Film Market Size is to grow from USD 2.53 Billion in 2022 to USD 5.15 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.3% during the projected period. The increasing utilization of polyimide film in various applications such as specialty fabricated products, motors/generators, flexible printed circuits, wire & cable, pressure sensitive tape, and others in several industries including electronics, aerospace, automotive, packaging, medical & healthcare, and others are expected to boost the demand for the polyimide film market during the forecast period.
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Thermal imidization is a technology that can be used to create polyimide films on metal substrates. This method utilizes solution-casting polyimide solutions, which causes the film to curl. Polyimide films are accessible in a range of stock shapes as processed and uncured resins. These films are typically employed in flexible solar cells and display devices. Polyimide films are manufactured in a variety of industries, including electronics, defense, automotive, and aerospace. Major players in the marketplace have improved their products in the past few years. These improvements have also contributed to an increase in market demand for these types of films. The growing acceptance of consumer electronics such as modern computers, LEDs, mobile phones, and others is expected to drive the growth of the polyimide films market throughout the forecast period. It is also used in the aerospace sector for particular labeling applications. These films are typically employed in wire insulation and electric motors that operate in high-stress settings where both electricity and heat management are crucial. In addition, the auto industry is expected to continue to play an important role in market growth. Furthermore, increased consumer disposable income in emerging markets is expected to drive market expansion.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Polyimide Film Market Size, Share, and COVID-19 Impact Analysis, By Application (Specialty Fabricated Product, Motor/Generator, Flexible Printed Circuit, Wire & Cable, Pressure Sensitive Tape, Others), By End-Use (Electronics, Aerospace, Automotive, Packaging, Medical & Healthcare, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The flexible printed circuit segment is dominating the market with the largest revenue share over the forecast period.
On the basis of application, the global polyimide film market is segmented into the specialty fabricated product, motors/generators, flexible printed circuits, wire & cable, pressure sensitive tape, and others. Among these, the flexible printed circuit segment is dominating the market with the largest revenue share of 41.6% over the forecast period. This upper hand in the market is mostly owing to polyimide films' exceptional properties, which make them an appealing alternative in a range of end-use industries such as electronics and vehicles. Flexible printed circuits are used as connectors in several applications where production constraints, space economies, and flexibility limit the reliability of solid circuit boards. These factors are expected to fuel industrial demand for flexible printed polyimide films.
The electronics segment accounted for the largest revenue share of more than 36.8% over the forecast period.
On the basis of end-use, the global polyimide film market is segmented into electronics, aerospace, automotive, packaging, medical & healthcare, and others. Among these, the electronics segment is dominating the market with the largest revenue share of 36.8.2% over the forecast period. It is ideal for electric and electronic equipment because it is an excellent substrate for high-temperature applications. Furthermore, polyimide films offer excellent chemical, thermal, and mechanical properties over a wide temperature range, making them ideal for thermal insulation applications.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 43.7% market share over the forecast period. The increasing electronics manufacturing sector in the region has created a massive market for polyimide films. The growing need for flexible films is expected to drive market growth even further. Furthermore, the region is seeing a great increase in demand for technology items. On the other hand, North America is predicted to expand the fastest during the forecast period. This business sector is predicted to grow substantially throughout the projection period due to the region's increasing electronics, automotive, and aerospace sectors. During the forecast period, the Europe market is expected to rise at a significant CAGR. This is owing to the growth of electric vehicles, the establishment of a well-known printing and labeling company, and the presence of many significant market players.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Polyimide Film Market include 3M Company, DuPont, Toray Industries Inc., Kolon Industries Inc., FLEXcon Company, Inc., Goodfellow, I.S.T Corporation, Taimide Tech. Inc., Compagnie de Saint-Gobain, Kaneka Corporation, Shinmax Technology Ltd., UBE Industries Ltd., Arakawa Chemicals Industries Inc., PI Advanced Material Co., Ltd. among others.
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Recent Developments
- On June 2023, Arkema is acquiring a 54% stake in Glenwood Private Equity's South Korean polyimide specialist PI Advanced Materials. The remaining 46% of the shares are traded on the stock exchange in South Korea. Arkema's initial foray into the polyimide sector. DuPont, Kaneka, and Taimide are major rivals in polyimide films. PIAM has two factories in Gumi (north of Daegu) and Jincheon (south of Seoul), each with four PI film extrusion lines.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Polyimide Film Market based on the below-mentioned segments:
Polyimide Film Market, Application Analysis
- Specialty Fabricated Product
- Motor/Generator
- Flexible Printed Circuit
- Wire & Cable
- Pressure Sensitive Tape
- Others
Polyimide Film Market, End-Use Analysis
- Electronics
- Aerospace
- Automotive
- Packaging
- Medical & Healthcare
- Others
Polyimide Film Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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