The polyimide films market size is projected to reach $3.6 billion by 2023, growing at a CAGR of 10.1% during 2017-2023. Growing demand for light weight, flexible, compact and heat resistant electronics devices is major driver behind the increase in usage of PI films in semiconductor component manufacturing in last 5 years. It is expected that major portion of the demand for PI films will come from electronics sector during the forecast period.
In terms of the end-user, the polyimide films market has been segmented into electronics, automotive, aerospace, labelling, medical and mining & drilling. As per the findings of research, electronics held the largest share of polyimide films industry in terms of both revenue and volume in 2016. Wide applications of PI tapes and PI films for manufacturing of different electronics components such as cables, rotate machines, integrated circuits, electric wires, recording devices, etc. were instrumental behind such market share dominance of electronics end-user.
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The demand of polyimide films is growing at an exponential rate owing to its exceptional properties, which make it ideal for a variety of applications in many different industries. These properties include chemical resistance, thermal stability, excellent tensile strength, withstanding wide range of temperatures, lightweight, flexibility, water sorption characteristics, durability, and damp-proof usage, among others. Abrasion, cut-through resistance characteristics, faster design times, cost-effectiveness, and the ability to fabricate nanoscale features increases its demand over other coating materials.
Europe is the third largest region in the global market for polyimide films, and is projected to exhibit a CAGR of 9.6% during 2017-2023, in terms of value during the forecast period. This is attributable to the easy adoption of new production technologies and rise in consumer awareness in the region. In Germany, companies have been involved in extensive research and development, focussing on developing improved grades of engineered polyimide films, which is anticipated to boost the scope of their utilization to a great extent. The U.K. is known for high production of polyimide tapes and tubing, and is the second largest producer of polyimide films in Europe polyimide films market.
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In France, the key players are undergoing product commercialization to cater to the growing need of polyimide films in aerospace, electronics, and other applications. For instance, in December 2016, Saint-Gobain S.A. launched a new brand of polyimide films, namely Chemfilm, for the production and marketing of high performance films produced with specialty fluoropolymer, and polyimide plastics. This product is used in aerospace, electronics, and life science applications.
Some of the major players operating in the polyimide films market are E.I. Du Pont De Nemours and Company, Kaneka Corporation, Saint-Gobain S.A., SKCKOLONPI, Inc., Arakawa Chemicals Industries, Ltd., Taimide Tech. Inc., Yunda Electronic Materials Co., Ltd., I.S.T. Corporation, FLEXcon Company, Inc., and UBE Industries Ltd.
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