The report “GLOBAL POLYIMIDE FILMS MARKET”, the global polyimide films market is expected to reach USD 3.43 Billion by the year 2024, at a CAGR of 10.2% during forecast period.
Polyimide (PI) is a polymer with high heat resistance. Polyimide’s exhibits high tensile strength and they are lightweight, flexible materials.
Polyimide films are used extensively in wide range of applications such as motors, generators, wires and cables, automotive, aerospace, pressure sensitive taps, electronics and labeling industries.The major factors for the growth of global polyimide films market are growth in electronics sector and aerospace technology. Consumer electronic products are also expected to influence the industry positively.
FPC (Flexible Printed Circuit) recognized as the largest and quickest growing application in global polyimide films market
Due to widespread use in ink-jet cartridges, mobile phones, pagers, camcorders, printers &scanners and military systems the FPC holds the largest market share. FPC has a variety of automotive applications ranging from dashboard to engine management and ABS control systems.
Electronics segment is growing at a fastest growth rate
Electronic applications accounted for 32.76% of the overall market. Due to increase in electrical components in the automobile sector and more demand for consumer electronics are the factors leading the electronic segment at a good pace.
Aerospace segment is expected to grow at second highest growth rate. Private investments and government expenditure towards aerospace are driving the aerospace segment.
Asia-Pacific transpired as the foremost leading region in global polyimide films market
Asia-Pacific (APAC) accounted 44% of the overall global market. Price deflation and household incomes in APAC have created high demand for consumer electronic products.
The aerospace sector is projected as a high demand market for next generation in APAC and South America. The demand for polyimide films and global production of aircraft industry are directly proportional.
North America is the second largest market after APAC. High standard of living and large economies are the key drivers for the market growth in this region (North America).
The prominent players in global polyimide films market are E. I. du Pont de Nemours and Company, Arakawa Chemicals Industries, Ltd., FLEXcon Company.
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