Polyimide Film Market Overview
The Polyimide film market size is estimated to reach US$2.8 billion by 2027 after growing at a CAGR of around 6.4% from 2022 to 2027. Polyimide films are thermoplastic polymers and are often used in flexible printed circuits, pressure sensitive tape and speciality fabricated goods due to their ease of application over a wide temperature range. The polyimide films market is expected to expand during the forecast period, owing to factors such as increased demand from the electronics sector and increased applicability in the automotive industry. Furthermore, the product's better mechanical and thermal qualities over other polymers are propelling the polyimide films market forward. The high cost of the film, on the other hand, is a key limitation on the market for polyimide films. Nonetheless, rising demand in emerging economies and growing preference for transparent polyimide films are expected to provide significant development prospects for the polyimide films market throughout the forecast period. The covid-19 pandemic majorly impacted the polyimide film market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, healthcare and others, the polyimide film market size is anticipated to grow rapidly during the forecast period.
Polyimide Film Report Coverage
The report: “Polyimide Film Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments in the polyimide film industry.
Key Takeaways
- The Asia-Pacific region is expected to dominate the polyimide film market size, owing to the rising automotive industry, as well as developments in the defence and aerospace industries, which is propelling the polyimide film industry in this region.
- The polyimide film industry is expected to rise beyond the forecast period as the adoption of hybrid and electric vehicles increases.
- Increasing demand from the electronics sector, as well as rapid use in the aerospace industry, are the reasons driving the polyimide film market's growth.
Figure: Asia-Pacific Polyimide Film Market Revenue, 2021-2027 (US$ Billion)
Polyimide Film Market Segment Analysis - by Application
The Flexible Printed Circuit segment held a significant share in the Polyimide Film market share and is expected to grow with a CAGR of over 6.2% during the forecast period, owing to extensive characteristics provided by flexible printed circuited over other applications such as pressure sensitive tape, wire and cable and others. Flexible printed circuit boards are made of a polyimide film or thermoplastic polymers, which make them thinner, smaller and easier to install. They are also utilized for flexible circuit connections in screens and other hardware components in smartphones, cameras and other electronic gadgets. The polyimide film market will increase in response to the growing need for flexible printed circuits. Its flexibility and light weight make it a good fit for consumer electronics including next-generation flexible displays, mobile phones and vehicles. It also finds use in the aerospace industry due to its thermal resistance in high-temperature applications. Such wide application of flexible printed circuits is boosting polyimide film used in this segment.
Polyimide Film Market Segment Analysis – by End-Use Industry
The Electrical & Electronics segment held a significant share in the Polyimide Film market share and is expected to grow with a CAGR of over 6.9% during the forecast period. Polyimide films provide exceptional insulation and temperature stability, making them ideal for insulating and protecting electrostatically sensitive and fragile electric components such as semiconductors, wires and cables, printed circuit boards, motors and generators. This is one of the most important factors driving polyimide film adoption in the electrical & electronics industry. Furthermore, the electronics business is quickly expanding as a result of rapid technological advancements, for instance, according to the Japan Electronics and Information Technology Industries Association, computer and information terminal manufacturing in Japan was worth 1,041,122 million yen in 2017 and 1,251,283 million yen in 2019. All of the above-mentioned factors combined with the expanding electrical & electronics industry are increasing the demand for polyimide films, resulting in segment growth.
Polyimide Film Market Segment Analysis – by Geography
The Asia- Pacific segment held a significant share in the Polyimide Film market share up to 42%. Due to the existence of a high number of OEMs in the region, the electronics manufacturing industry in Asia-Pacific is likely to grow significantly in the coming years. For instance, according to the People’s Republic of China, in 2021, the electronics industry grew by 15.7 percent, an increase of 8 percentage points year over year. According to the India Brand Equity Foundation, by 2025, India's electronics manufacturing industry is expected to be worth US$520 billion, Electronics consumption will increase to US$400 billion by 2025, up from US$33 billion in FY20. By 2025, India is predicted to be the world's fifth-largest consumer electronics and appliances market. With the increasing electrical & electronics industry, it is anticipated that the demand for polyimide films will eventually expand in APAC. Thus, the growth of the polyimide film market in the region is being aided by the increasing electrical & electronics sector in APAC, thereby dominating the market in the Asia-Pacific region.
Polyimide Film Market Drivers
Bolstering Growth of the Electronics Industry:
Polyimide film or thermoplastic polymer is a dielectric substance that can withstand extreme temperatures. Polyimide films have several qualities, including high thermal stability, tensile properties and exceptional chemical resistance, making them a viable alternative to glass, metals and even steel in the electronics sector and other industrial applications. Polyimide film is also suited for flexible printed circuits with good high-temperature resistance and moderate thermal expansion. As a result, polyimide sheets are commonly used in the electronics sector. According to ZVEI, the German electronics industry's turnover will nearly exceed EUR 200 billion in 2021. During the period January to November 2021, nominal revenues climbed by about 10%. In 2022, the industry group predicts a 4% growth in production. According to the Department for Promotion of Industry and Internal Trade, India's electronic goods exports totalled $11.1 billion between April 2020 and March 2021 (FY21). Electronic goods attracted US$3.19 billion in FDI between April 2000 and December 2021. Since polyimide film is often used in the electronics industry, the bolstering growth of the electronics industry is driving the market growth.
Growing Demand for Transparent Polyimide Films:
In the forecast period, the development of transparent Polyimide Films with flexible substrates is expected to present new opportunities. Traditional polyimide films have good optical transparency, but they lack the flexibility that limits their use in sophisticated optoelectronic engineering. However, the development of polyimide films with flexible substrates has broadened the use of polyimide films in flexible active-matrix organic light-emitting diode (AMOLED) displays, allowing displays to be thinner, lighter and less fractured by replacing the hard glass with flexible substrates. During the forecast period, this is expected to open up new opportunities for the global market to expand. In March 2019, Kaneka Corporation developed "Colorless Polyimide Film," which is used for the cover window of flexible organic electroluminescent (EL) displays. Polyimide films are therefore highly recommended in a variety of end-use industries, including aerospace, automotive, electronics and medical devices, due to these qualities.
Polyimide Film Market Challenges
High Production Costs:
A monomer is an important component in the production of high-performance polyimide films and tape; properties like low dielectric constant and thermal expansion are attained by choosing the right monomer. The market for polyimide films has grown slowly due to high manufacturing costs and a scarcity of monomers for synthesis. Polyimide film production also necessitates a high level of technological know-how and specialized machinery. Chemical imidization eliminates a counter depolymerization reaction during the polyimide film manufacturing process, allowing polyimides to achieve greater and more stable mechanical characteristics. And all of these factors are projected to limit the market growth during the forecast period.
Polyimide Film Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the polyimide film market. The top 10 companies in the Polyimide film market are
- 3M Company
- Arakawa Chemical Industries, Ltd.
- Dunmore Corporation
- E. I. du Pont de Nemours and Company
- FLEXcon Company, Inc.
- Kaneka Corporation
- Saint-Gobain Performance Plastics
- SKC Kolon PI
- Taimide Tech. Inc.
- Ube Industries, Ltd.
Recent Developments
- In June 2022, SABIC introduced the SD1100P high-purity speciality dianhydride powder for polyimide (PI) film formulations. which is suitable for 5G flexible printed circuit boards (PCBs), colourless displays and other flexible electronics applications.
- In February 2021, DuPont invests US$220 million in a project expansion. The funds will be used to increase the production of Kapton polyimide film and Pyralux flexible circuit materials.
- In March 2019, Kaneka Corporation has developed colourless polyimide sheets for flexible electroluminescent (EL) displays.
