Polyimide Films and Tapes Market Forecast to Reach $2.4 Billion by 2026 – Exclusive Report by MarketsandMarkets™
The polyimide films market is estimated to be USD 1.4 billion in 2020 and is projected to reach USD 2.1 billion by 2025, at a CAGR of 7.9% from 2020 to 2025. Increased demand from the electronics industry, the growing automotive industry, and superior thermal & mechanical properties of polyimide films and tapes in comparison to other polymers are major factors driving the growth of the market.
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Polyimide films provide excellent tensile strength, tear resistance, and dimensional stability and hence are ideal for use across a variety of end-use industries such as electronics, automotive, aerospace and labeling. Polyimide films and tapes are also used for making flexible photovoltaic (PV) cells used in solar roofs and panels.
Based on application, the polyimide films and tapes market has been segmented into flexible printed circuits, specialty fabricated products, pressure-sensitive tapes, wires & cables, and motors/generators. In terms of value, the flexible printed circuits segment is projected to grow at the highest CAGR of 9.6% from 2020 to 2025. Flexible printed circuits have found increased usage in electronic components of consumer electronic devices, automobiles, and aerospace and defense systems due to their flexible nature.
Based on end-use industry, the polyimide films and tapes market has been segmented into electronics, automotive, aerospace, solar, labeling and others. In terms of value, the electronics segment of the market is projected to grow at the highest CAGR of 8.9% during the forecast period. Polyimide films and tapes provide excellent electrical insulation properties under harsh conditions, such as high-temperature ranges and exposure to aggressive chemicals. They also offer excellent chemical and temperature resistance and design flexibility for component manufacturers and equipment designers. Hence, the electronics industry is the largest consumer of polyimide films and tapes globally.
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Asia Pacific, North America, and Europe are significant regional markets for polyimide films and tapes. The growing electronics industry in the Asia Pacific region has resulted in high demand for polyimide films and tapes. Companies are using colorless polyimide films instead of glass to manufacture displays for mobile devices. These films are lighter, thinner, and harder to break than glass. Low manufacturing operations for automotive and electronics have resulted in lower demand for polyimide films in the Middle East & Africa and South American regions.
Some of the key players in the market include E. I. DuPont de Nemours and Company (US), PI Advanced Material Co., Ltd. (South Korea), Ube Industries Ltd.(Japan), Taimide Tech. Inc. (Taiwan), 3M Company (US), Kaneka Corporation (Japan), Kolon Industries Inc. (South Korea), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company, Inc. (US) and others.
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