Polyimide Film Market Statistics - 2030
The global polyimide film market forecast was valued at $1.7 billion in 2020, and is projected to reach $3.0 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030. Polyamide film is designed to offer thermal & electrical insulation and enhanced physical & chemical properties, making it suitable to be used for high-temperature insulation applications.
The electronics industry is growing rapidly due to rapid technological innovations in the sector. For instance, according to a report published by the National Investment Promotion & Facilitation Agency, the Indian electronics industry is expected to grow 6.5 times, and is projected to reach $152 billion from $23.5 billion by 2025. Polyimide films exhibit superior insulation ability and temperature stability that make them suitable for use as an insulating and protective layer on electrostatically sensitive and fragile electric components such as semiconductors, wires and cables, printed circuit boards, motors, and generators. This acts as one of the key drivers of the global polyimide film market. Moreover, the electronic industry is expanding attributed to factors such as replacements of conventional electronic products, improvement in standard of living, intense R&D investments, and rise in middle-class per capita income. All these factors collectively escalate the demand for polyimide films, thereby augmenting the market growth, globally.
However, high production cost restrains the market growth. The manufacturing process of polyimide films involves several stages such as preparation of resin mixture, synthesizing, polymerization, and imine treatment. These processes require skilled professionals and highly sophisticated machines to impart several significant properties such as high tensile strength, electrical insulation, high thermal stability, and excellent dielectric properties.
On the contrary, development of transparent polyimide films with flexible substrate is predicted to offer new opportunity in the forecast period. Although conventional polyimide films possess excellent optical transparency, they lack the flexibility that restrains their applications in advanced optoelectronic engineering. However, the introduction of polyimide films with flexible substrates has widened the application of polyimide films in flexible active-matrix organic light-emitting diode (AMOLED) displays, replacing the hard glass with flexible substrates and making displays thinner, lighter, and less fragmented. This is projected to open new avenues for the expansion of the global market during the forecast period. Moreover, transparent polyimide films with the flexible substrate are widely employed in solar cells to withstand processing temperatures of over 3000°C, which, in turn, makes it possible to produce high-efficiency solar cells. This is anticipated to increase the sales of transparent polyimide films with the flexible substrate in manufacturing solar cells.
The global polyimide film market analysis is done based on application, end use, and region. The applications covered in the study include flexible-printed circuit, pressure-sensitive tape, wire & cable, specialty fabricated product, and others. On the basis of end use, the market is categorized into electronics, automotive, aerospace, labelling, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Arakawa Chemical Industries Ltd., DuPont, FLEXcon Company Inc., Kaneka Corporation, KOLON Industries, Saint Gobain, SHINMAX Technology Ltd., Taimide Tech. Inc., Toray Industries Inc., and UBE Industries Ltd.
Polyimide films market, by region
The Asia-Pacific polyimide films market share acquired 43.4% in 2020, and is projected to grow at the highest CAGR of 6.2% during the forecast period. This is attributed to the expansion of the electronics, automotive, and aerospace sectors in the region. In addition, China is houses the largest electronics manufacturing sector in the world. Fueled by the rapid growth in domestic consumption and consistent growth in the gross domestic product (GDP), the Chinese consumer electronic industry has grown significantly, where polyimide films are used for insulation applications.
By Region
Asia Pacific is the fastest growing region
Polyimide films market, by application
In 2020, the flexible printed circuits segment was the largest revenue generator, and is anticipated to grow at CAGR 6.0% in the forecast period. Polyimide films are used in flexible printed circuit boards to make them thin, smaller, and more space saving to install. In addition, they are used in smartphone, cameras, and other electronic devices for flexible circuit connections in displays and other hardware components.
By Application
Flexible Printed Circuits is fastest growing segment
Polyimide film market, by end use
By end use, the electronic segment dominated the global market in 2020, and is anticipated to grow at CAGR of 5.9% during forecast period. Polyimide films possess excellent chemical, thermal, and physical properties over a wide range of temperature range, making them superior for electrical insulation applications. In addition, it is used in flexible printed circuits to make them thin, smaller, and more space saving to install in smartphones, laptops, cameras, and other electronic products.
By End-use
Electronics is the most lucrative segment
Key benefits for stakeholders
- The report outlines the current market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global Polyimide Film Market
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The major end users of polyimide films such as electronics, aerospace, automotive, labeling, and solar have been negatively impacted due to the pandemic outbreak.
- The ongoing health crisis has further increased the supply–demand gap, thus hampering the global polyimide film supply chain. According to an article published by the Economic Times, the exports of electronic products such as wires and cables, and semiconductors have declined due to supply chain issues.
- Moreover, several electronics companies have either shut down or shrank their operations due to the risk of infections among the workforce. Moreover, more than 100 countries have sealed their international borders for transportation and halted nonessential trade activities, which, in turn, have reduced the consumption of polyimide films among several end-use sectors.
- In addition, the falling income of customers and international travel restrictions have led to a contraction of the demand for polyimide films among the aerospace sector. For instance, according to a report published by the Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than in September 2019, affecting long-term existential threats to manufacturers, the supply chain, and the entire air travel industry. Moreover, COVID-19 has put a temporary brake on various aircraft manufacturing projects, which, in turn, has shrunk the demand for polyimide films among the aerospace sectors.
- In 2020, polyimide film prices are expected to be higher in Asia. The price rise is majorly attributed to continued regional demand trends and tight product availability. Firm downstream polyimide film demand and stronger upstream costs are expected to sustain the price gain.
- However, the polyimide film market is expected to recover rapidly post-COVID-19 situation due to its increased dependency on the electronics sector. Moreover, the sales of electronic products such as wires and cables, televisions, and laptops have increased where polyimide films are widely used for insulation purposes. For instance, according to data released by the International Data Corporation (IDC), the shipment of notebooks surged by the impressive growth of 17.6% during April–June 2020. This is expected to enhance the performance of the polyimide film market post COVID-19.
Polyimide Film Market Report Highlights
| Aspects | Details |
 By Application |
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 By End-Use |
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 By Region |
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 Key Market Players | Saint Gobain, KOLON Industries, KANEKA CORPORATION, DuPont, Toray Industries, Inc., SHINMAX Technology Ltd., FLEXcon Company, Inc., Arakawa Chemical Industries, Ltd., Taimide Tech. Inc.,, UBE Industries Ltd. |
Analyst Review
The global polyimide films market is expected to exhibit high growth potential, owing to use of polyimide films in applications such as flexible-printed circuit, pressure-sensitive tapes, wire & cables, and specialty fabricated products. In addition, increase in demand for electricity in commercial, industrial and residential sectors, wherein polyimide film is widely used for insulation purposes in wires and cable boosts the market growth. Moreover, rise in investments for upgrading of power transmission and distribution systems in both developed and developing economies, where polyimide films are widely used in wires and cables for winding and insulation fuels the growth of the polyimide film market. In addition, the implementation of smart grid connections has resulted in the use of highly-efficient wires and cable where polyimide films are used for high-temperature insulation purposes.
Polyimide films possess excellent chemical, thermal, and physical properties over a wide range of temperature range, making them superior for electrical insulation applications. In addition, they are used in flexible printed circuits to make them thin, smaller, and more space saving to install in smartphones, laptops, cameras, and other electronic products. The proliferating demand for electronic consumer products such as smartphones and laptops, wherein polyimide films are widely used for manufacturing flexible electric circuits is anticipated to increase the demand for polyimide films, thereby contributing toward the global market growth. In addition, polyimide films are used as a heat-resistance film material in motors of electric vehicles. It is used in ground insulation purposes of traction motors that significantly reduces the weight and enhances the operating reliability of the motor.
Increasing demand from electronic industry and escalating demand for aerospace industry are the key factors boosting the Polyimide Film market growth.
The global polyimide film market forecast was valued at $1,744.7 million in 2020, and is projected to reach $3,010.0 million by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
Arakawa Chemical Industries Ltd., DuPont, FLEXcon Company Inc., Kaneka Corporation, KOLON Industries, Saint Gobain, SHINMAX Technology Ltd., Taimide Tech. Inc., Toray Industries Inc., and UBE Industries Ltd. are the most established players of the global Polyimide Film market.
Electronic industry is projected to increase the demand for Polyimide Film Market
The global polyimide film market analysis is done based on application, end-use and region. The applications covered in the study include flexible printed circuit, pressure sensitive tape, wire & cable, specialty fabricated product, and others. The end-use covered in the study include electronics, automotive, aerospace, labelling, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA
The electronics industry is witnessing significant growth, owing to rapid technological innovations in the sector. For instance, according to a report published by the National Investment Promotion & Facilitation Agency, the Indian electronics industry is expected to grow 6.5 times and is projected to reach $152 billion from $23.5 billion by 2025. Polyimide films possess enhanced insulation ability and temperature stability, which make them suitable for use as an insulating and protective layer on electrostatically sensitive and fragile electric components such as semiconductors, wires & cables, printed circuit boards, motors, and generators. This may act as one of the key drivers augmenting the growth of the polyimide film market. Moreover, the electronic industry is expanding attributed to factors such as replacements of conventional electronic products, improvement in standard of living, intense R&D investments, and rise in middle-class per capita income, which, in turn, is likely to foster the growth of the polyimide film market.
Flexible printed circuits and aerospace end-use industry are expected to drive the adoption of Polyimide Film.
The COVID-19 pandemic has negative impact on the Polyimide Film market in 2021.
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