Polyimide Films Market to Expand at a Healthy CAGR of 7.50% From 2016 to 2024

Posted by pranav suryawanshi on October 9th, 2019

Polyimide films used widely in electronics, aerospace, and aircraft industry as they are capable of withstanding high temperatures they are widely used to make flexible printed circuit boards and pressure sensitive tapes. Polyimide films enable implementation of compact and complex assemblies which minimizes size and weight. Polyimide films can withstand temperatures above 3000 C and are widely used for insulating wires and cables of motors and generators. Due to their lightweight they are also used in insulating the wires of aircrafts as it provides significant weight savings. According to the research report, the global polyimide films market is expected to be worth US$ 1770.1 mn by 2024 from US7.7 mn in 2015. During the forecast period of 2016 and 2024, the overall global market is likely to register a CAGR of 7.5%.

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The increasing trend of miniaturization of electronic products and increasing demand for heat and fire resistant insulation films are expected to drive the market during the forecast period. However, the high cost of processing of polyimide films and its tendency to get hydrolyzed and shrink are anticipated to hamper the market during the forecast period. The application of polyimide films in flexible and thin photovoltaic materials and colorless polyimide films are expected to be the area of opportunity for polyimide films. Polyimide films are an ideal choice for usage as substrates in photovoltaic materials due to their high performance in the electronics industry, flexibility, and resistance to high temperature.

The information Presented in this Review is Based on Press-Release by TMR

Key applications of polyimide films include flexible printed circuit boards which accounts for more than 70% share of the global polyimide films market and is likely to be a highly lucrative segment during the forecast period. Wires and Cable insulation is expected to expand significantly during the forecast period. However the threat of substitutes from polyethylene terephthalate (PET) film and polyethylene naphthalate (PEN) film is expected to remain low during the forecast period due to the fact that, polyimide film has the advantageous characteristics of retaining its properties at high processing temperatures and provide a high range of operating temperature which is in contrast to PET and PEN films.