Market Scenario:
The Global Polyimide Film Market is estimated to register 25 % CAGR during the forecast period (2017-2023) owing to the growing demand from the automobile sector, asserts Market Research Future (MRFR). Polyimide Films are used in several end-user industries like aerospace, automobile, electrical & electronics, and healthcare. Polyimide possess properties such as thermal stability, high tensile strength, flexibility, and lightweight, which makes them ideal for mobile phones, laptops, cam recorders, and other display devices. The lightweight and flexible nature make them ideal for use in the electronic industry such as digital semiconductors, cables, chips, and magnetic wires.
Drivers and Constraints Impacting the Market:
The rapid urbanization and industrialization have triggered the demand for various end-use, which is anticipated to stimulate the Global Polyimide Film Market during the forecast period. With the growing demand for Polyimide Films from the automobile sector coupled with increased government investment in the development of the retail sector is likely to contribute to the growth of the market globally. High demand from the electronics industry is presumed to drive the polyimide market to a great extent. Polyimide Films are extensively used in the electronics sector for applications such as recording devices, electrical wires, and cables.
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On the flip side, high cost is incurred in processing of the Polyimide Films as these films are produced through film casting techniques and require high temperature. Also, poor resistance of Polyimide Films to hydrolysis makes the application of Polyimide Films complex in humid weather, which further restrains the market growth during the assessment period.
Global Polyimide Film Market: Segmental Analysis
The Global Polyimide Film Market has been segmented based on End-Use Industry, Application, and Region.
By mode of Application, the Global Polyimide Film Market has been segmented into specialty fabricated product, wire & cable, pressure sensitive tape, motor & generator, flexible printed circuit (FPC), and others. Among these, the FPC segment is estimated to register the highest growth due to increasing demand from the automobile and electronics industry. They are highly used in mobile phones, laptops, scanners, printers, avionics systems, and others.
By mode of End-Use Industry, the Global Polyimide Film Market has been segmented into mining & drilling, aerospace, electronics, medical, labeling, automotive, and others. Among these, the electrical & electronics segment is estimated to hold the largest share and is anticipated to expand at a considerable CAGR. The growth is attributed to the increasing use of consumer electronics such as mobile phones, laptops, and electronic displays.
Regional Insights:
Geographically, the Global Polyimide Film Market span across five regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Among all the regions, Asia Pacific is estimated to register the highest growth with a considerable CAGR owing to the growth in industries especially in countries like India, Japan, and China. Also, favorable government regulations such as tax benefits and industries have attracted industry players to enter the market, thus fueling the market growth at a global platform. Also, the rising automobile and electronic sector in Japan and China are estimated to contribute towards the market growth.
Europe is presumed to be a lucrative market owing to the developed electrical and electronics, automobile, and medical sector. Moreover, the presence of major countries such as France, Germany, Italy, and the U.K. are anticipated to contribute to the market growth. The developed healthcare industry has also triggered the demand for Polyimide Films.
Industry News:
October 11, 2018: The Micro-Measurements brand of Vishay Precision Group, Inc. has recently introduced the W2A Series IPX8S rated, waterproof strain gages that offer complete protection in applications where exposure to water is high. The W2A provides long-term defense from water-exposure, allows for immediate and thorough protection in field environments, and resists harmful chemicals.
Competitive Dashboard:
The Major Players Operating the global market are Kaneka Corporation (Japan), Shinmax Technology Ltd. (Taiwan), Ube Industries LTD (Japan), Taimide Tech Inc. (Taiwan), SKC Kolon PI (South Korea), Arakawa Chemicals Industries Inc. (Japan), TORAY INDUSTRIES INC. (Japan), E. I. du Pont de Nemours and Company (U.S.), FLEXcon Company Inc. (U.S.), Saint-Gobain SA (France), and others.
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