Global polyimide films market was valued at USD 2.1 billion in 2017 and is further expected to become USD 4.1 billion by 2024. The rapid increase in this market is attributed towards increasing applicability of these films in the manufacturing segment of electronics and semiconductor components. Polyimide films comprises of an exclusive amalgamation of thermal, electrical, mechanical and chemical properties that resist vibration and extreme temperatures. These films are gaining huge popularity owing to its innovative design solutions provided to several industries such as wind energy, consumer electronics, aerospace, industrial applications and automotive.
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The global market fort polyimide films is anticipated to witness hindrance in its growth trail owing to high cost being incurred while processing polyimide films as these films are being molded with the help of several film casting techniques that requires soaring temperature. Moreover, poor resistance of these films to hydrolysis makes its application complicated in the humid weather. These factors are further expected to restraint the growth of global polyimide films market in the near future.
Geographically, Asia Pacific is expected to witness fastest growth of 10.8% in terms of value during the forecast period. The key countries that are attributing high demand for the polyimide films in the region include China, Japan, South Korea and India. The major factors that are driving the growth of this market include price deflation, increasing household incomes and upgradation of technology. Moreover, these factors are further expected to escalate the growth of this market for polyimide films during the forecast period. Additionally, increasing disposable income and price deflation in this region has elevated the consumer electronic products demand that is further expected to drive the growth of polyimide films market.
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Moreover, it has been observed that North America held the second largest share of the polyimide films market in 2017 due to increasing utilization of these films in advanced aerospace industry, mounting use of insulation tape in automotive industry and application of PI films in healthcare sector.
Some of the major players operating in the global polyimide films market are Kaneka Corporation, Saint-Gobain S.A., E.I. Du Pont De Nemours and Company, Arakawa Chemicals Industries, Ltd., SKCKOLONPI, Inc., Yunda Electronic Materials Co., Ltd., Taimide Tech. Inc., I.S.T. Corporation, FLEXcon Company, Inc., and UBE Industries Ltd.
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