The polyimide films and tapes 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. Surging demand for polyimide films and tapes in developing nations and preference for transparent polyimide films are some of the key opportunities for the polyimide films and tapes industry.
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Conventional polymer films such as PET possess excellent optical transparency. However, these films face challenges in advanced optoelectronic engineering, mainly due to their limited service temperature. Hence, currently, transparent polyimide films and tapes are preferred over conventional polymers. In recent years, there has been significant development in flexible active-matrix organic light-emitting diode (AMOLED) displays, replacing hard glass with flexible substrates and thin films such as transparent polyimide films to make displays thinner, lighter, and less fragmented. Currently, major phone manufacturers are in the phase of developing prototypes of flexible smartphones, such as Royole Corporation’s FlexPai, Samsung’s Galaxy Fold, Huawei’s Mate X, Lenovo’s Cplus, and Apple with a patent of its own. The fabrication of solar cells using colorless polyimide films provides practical advantages, such as weight reduction, cost savings, and a simplified manufacturing process. Optical polymer substrates used in solar cells need to be transparent and should have the ability to withstand processing temperatures of over 300°C. The properties of transparent polyimide films and tapes make it possible to produce high-efficiency solar cells.
Electronics is projected to be fastest-growing end-use industry segment of the polyimide films market
Based on end-use industry, the electronics segment is anticipated to grow at the highest CAGR from 2020 to 2025. Polyimide films and tapes provide excellent electrical insulation properties under harsh conditions, such as high-temperature ranges and exposure to aggressive chemicals. They are increasingly being used by component manufacturers and equipment designers due to their design flexibility. As a result, the electronics industry is the largest consumer of polyimide films and tapes globally.
The polyimide films and tapes market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are key countries contributing to the high demand for polyimide films in this region. Innovation, price deflation, and rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the polyimide films and tapes market in this region.
Some of the key players in the market include E. I. du Pont de Nemours and Company (US), PI Advanced Materials Co., Ltd. (South Korea), Toray Industries Inc. (Japan), Kaneka Corporation (Japan), Ube Industries (Japan), Taimide Tech. Inc. (Taiwan), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company, Inc. (US).
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