Market Scenario
The global polyimide film 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.
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.
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Global Polyimide Film Market: Segmental Overview
The segmental analysis of the market has been conducted on the basis of end-use industry, application and region.
Based on end-user industry, the market has been segmented into aerospace, labelling, mining drilling, electronics, medical, automotive and others. The electrical electronic segmented is projected to demonstrate a relatively higher CAGR during the assessment period (2017-2023). High penetration of laptops, electronics displays, mobile phones in both advanced countries and price-sensitive consumer markets characterises the segment dominant position. In addition, the segment is expected to highly profitable during the assessment period.
Based on application, the market has been segmented into specialty fabricated product, wire cable, flexible printed circuit (FPC), pressure sensitive tape, motor generator and others. Of these, the flexible printed circuit (FPC) segment is expected to witness a strong growth during the assessment period. Constant advances in foldable technology is fuelling the demand flexible printing circuit. FPC are witnessing a fast uptake in product such as mobile phones, scanners, recorders, laptops, avionics systems, printers, jet cartridges among others. In terms of revenue, the wire and cable segment hold the second spot and is expected to witness sound growth in the forthcoming years.
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Market Scenario:
Among the various application segment, the flexible printed circuit was the leading one followed by wires cables in 2016 and is anticipated to exhibit the same trend during the forecast period. The growing demand for flexible printed circuits in electronic products is the major factor positively driving the market. The developing retail sector in the emerging economies has made the availability of consumer electronics easier which is another factor augmenting the demand for flexible printed circuits. Wire cables are extensively used in the aerospace and the automobile industry. High strength, thermal chemical resistance, flammability, and solvent resistance are some of the major properties attributing to the growing demand for the segment. Among the various end-use industries electrical and electronics accounts for over 30% of the market share and is expected to continue leading during the assessed years. Moreover, the automobile industry is expected to be the second-largest end-use industry, and aerospace is anticipated to be the fastest. Aerospace is anticipated to be an emerging segment with a considerable CAGR during the forecast period.
Detailed Regional Analysis
The regional overview of the polymide film market consists of Asia Pacific, Europe, North America and other prominent regions. The Asia Pacific polymide film market is estimated to exhibit the maximum growth with a positive CAGR in the forecast period. The quick development in the industries, mostly in India, Japan, and China, is powering the development of polyimide film in the Asia Pacific region. Furthermore, the promising government directives such as tax benefits and incentives have appealed to many industry companies to compete for the lucrative share of the Asia Pacific regional market. The North American polymide film market is another leading region in the global market. The advanced end-user businesses such as automobile, aerospace, electronics, among others, are appreciably driving the polymide film market development. The European polymide film market is a profitable market due to the advanced medical, electrical electronics, and automobile sector. The main nations adding to the growth of the polymide film market are Italy, Germany, France, and the U.K, among others.
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Competitive Analysis:
Some of the prominent players operating in the global polyimide film market are E. I. du Pont de Nemours and Company (U.S.), TORAY INDUSTRIES, INC. (Japan), SKC Kolon PI (South Korea), Kaneka Corporation (Japan), Ube Industries LTD (Japan), Taimide Tech Inc. (Taiwan), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), FLEXcon Company Inc. (U.S.), and Saint-Gobain SA (France) among others.
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