WASHINGTON, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Global polyimide films market was valued at USD 1.8 billion in 2021 and is projected to attain a value of USD 2.5 billion by 2028 at a CAGR of 5.70% during the forecast period, 2022–2028.
As the world increasingly relies on electronics to function, the need for polyimide film grows. This strong, lightweight material is an excellent insulator and can withstand high temperatures, making it ideal for a variety of uses in electronic devices. The current high demand for polyimide films is being driven by the booming smartphone industry; however, other sectors such as medical and aerospace are also beginning to utilize this versatile material in the global polyimide films market.
While the use of polyimide films is nothing new, production methods have been refined in recent years to meet the growing demand. New production techniques allow for thinner films with higher performance, making them even more appealing for use in a variety of applications. As the demand for polyimide films continues to grow, it's likely that we'll see even more innovative uses for this versatile material.
Interestingly, Vantage Market Research study notes that much of the growth in the polyimide films market will come from Asia-Pacific countries such as China and South Korea, where demand for these products is expected to increase at a CAGR of 12.2% and 10.7%, respectively. This is in contrast to mature markets such as North America and Europe, where the CAGR is forecast to be 7.5% and 5.3%, respectively.
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Top Players in Global Polyimide Films Market
- 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)
- FLEXcon Company, Inc. (US)
Production of Polyimide Films is Expensive: An Opportunity to Optimize Process
As the semiconductor industry continues to miniaturize devices, the need for high-performance dielectric materials has never been greater. Polyimide films are one of the most promising dielectric materials due to their excellent mechanical stability and dielectric properties. Unfortunately, the production of these films is very complex and expensive, which has limited their use in commercial applications. Moreover, our report on polyimide films market highlights some of the challenges faced by manufacturers of polyimide films, such as high raw material costs and intense competition from other materials.
Now, however, new production methods in the global polyimide films market are making it possible to mass-produce high-quality polyimide films at a fraction of the cost. This is resulting in a growing demand for these films, especially from the semiconductor industry. With the help of these new production methods, it is hoped that polyimide films will finally be able to fulfill their potential and become a key material in a wide range of electronic devices.
To stay ahead of the game, Vantage Market Research suggests manufacturers need to be able to produce these films quickly and efficiently. In line with this, several market players are aggressively competing in the global polyimide films market. Toray is one of the key manufacturers of polyimide films. The company has several state-of-the-art production facilities that has enabled the company to meet the ever-increasing demand for these films. Moreover, the company is constantly engaged in improving their process to deliver the quality product to sustain the intense market competition.
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Scope of the Report:
| Report Attributes | Details | |
| Market Size in 2021 | USD 1.8 Billion | |
| Revenue Forecast by 2028 | USD 2.5 Billion | |
| CAGR | 5.7% from 2022 to 2028 | |
| Base Year | 2021 | |
| Forecast Year | 2022 to 2028 | |
| Key Players |
| |
Dupont, 3M and Dai Nippon Printing are Capitalizing on Growing Trend of Flexible Electronics
As per Vantage Market Research, flexible electronic market is expanding at a CAGR of over 9.3% and is projected to attain a value of over $48 billion by 2028. The use of polyimide films in the manufacturing of flexible electronics has seen a significant increase in recent years. This is due to the many benefits that this material offers, such as its flexibility, chemical resistance, and high heat resistance.
Due to these properties, polyimide films market is gaining immense growth and the product is being widely used in a variety of applications, such as in the production of flexible printed circuit boards, membrane keyboards, and touch screens or display. In addition, this material is also often used as a protective layer for other sensitive electronic components. Our study suggests that the demand for polyimide is immensely growing in consumer electronics such as laptop, smartphones, and tablet.
The increasing demand for polyimide films market has led to a corresponding increase in production. In fact, several manufacturers have recently expanded their facilities or established new ones in order to meet the growing demand. With the continued advancement of flexible electronics technology, it is expected that the demand for polyimide films will continue to grow. This will provide opportunities for manufacturers to further capitalize on this polyimide films market trend.
One company that is seeing a strong demand for its polyimide films is Dupont. The company's sales of the films have increased by 20% in the past year. This is due in part to the growing demand for flexible electronics, as well as the fact that Dupont is one of the few manufacturers of polyimide films.
Dupont is not the only company seeing a strong demand for its polyimide films. Others include 3M and Dai Nippon Printing. These companies are able to capitalize on the growing demand by offering a variety of products. For example, 3M offers a line of films that are specifically designed for use in flexible electronics.
The high demand for polyimide films market is likely to continue as the market for flexible electronics grows. This growth is being driven by a number of factors, including the increasing popularity of wearable devices and the advancement of technology that is making it possible to create thinner electronic products.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Polyimide Films Market Forecast Report (2022-2028).
South Korea and China are the Largest Manufacturers and Exporter of Polyimide Films
As the world's largest manufacturer and exporter in the global polyimide films market, Asia Pacific is in a unique position to provide high quality products at competitive prices. The region has strong presence of numerous state-of-the-art production facilities spread across South Korea and China that are capable of producing a wide range of film thicknesses and widths to meet the needs of customers. The region is primarily known to offer custom printing and laminating services to further customize consumer’s products.
South Korea and China collectively recorded over 6,368 shipments as of September 2022. Wherein, South Korea accounted for 4,117 shipments. The country mainly exporter the product to India, Vietnam, and the US.
South Korean manufacturers have developed innovative production methods that allow them to mass produce high-quality polyimide films at competitive prices. This has made South Korea the go-to supplier for many companies around the world. South Korea's polyimide films market is supported by a strong domestic market, as well as by exports to major markets around the world. The country's manufacturers have developed a wide range of products to meet the needs of different industries, and are continually innovating to bring new and improved products to market.
Apart from this, UBE Industries and Kureha Corporation are top Japanese companies and key manufacturers of polyimide films in the world. They offer a wide range of products for different industries, including automotive and aerospace. However, Kureha Corporation manufactures polyimide films for a variety of products for different industries including electronics and medical devices.
In addition to being the largest producer and exporter in the global polyimide films market, Asia Pacific is also the largest consumer of these films. This region is home to some of the world’s most populous countries, such as China and India, which have a growing demand for electrical and electronic products.
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