Nov 11, 2021   SOURCE: BusinessWire

The Worldwide Polyimide Films and Tapes Industry is Expected to Reach $2.4 Billion by 2026 - ResearchAndMarkets.com

The "Global Polyimide Films and Tapes Market by Application (Flexible Printed Circuits, Specialty Fabricated Products, Pressure-Sensitive Tapes, Motors/Generators, Wires & Cables), End-Use Industry (Electronics, Automotive), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The polyimide films and tapes market is estimated to be USD 1.6 billion in 2021 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 8.5% from 2021 to 2026.

Increased demand from the electronics, automotive, aerospace, and medical industries is one of the key factors driving the growth of this market. The high cost of polyimide films and tapes acts as a key restraint to market growth.

Flexible printed circuits is the fastest-growing application segment of the polyimide films and tapes market

By application, the flexible printed circuits segment is projected to grow at the highest CAGR during the forecast period, mainly due to the growing demand in mobile devices, computers, and automobile & military electronics.

The use of polyimide films and tapes in flexible printed circuits helps in providing additional thickness, which is required by the end-use industries such as electronics and automotive.

Electronics is the largest end-use industry segment of the polyimide films and tapes market

By end-use industry, the electronics segment accounted for the largest share of the polyimide films and tapes market in 2020. Polyimide films have good mechanical and electrical properties in comparison to other thermoplastic films and are, hence, widely used in several applications in the electronics industry.

For instance, polyimide films are used as a base material for flexible printed wiring assembly, due to their excellent mechanical and thermal stability and low dielectric constant.

Asia Pacific is projected to lead the polyimide films market during the forecast period

By region, Asia Pacific is anticipated to lead the polyimide films market during the forecast period. The market growth in this region is mainly attributed to rising disposable incomes and growing demand for consumer electronics products. The Asia Pacific market is also expected to witness the highest CAGR from 2021 to 2026 owing to the high demand for polyimide films and tapes from countries such as China, Japan, India, and South Korea.

Market Dynamics

Drivers

  • Increased demand from the electronics industry
  • Strong demand from the growing automotive industry
  • Superior thermal and mechanical properties in comparison to other polymers

Restraints

  • High manufacturing cost of polyimide films
  • Current limitations of foldable display electronics

Opportunities

  • Increasing use in aerospace applications
  • Preference for transparent polyimide films for flexible display and optoelectronics
  • Emerging applications for polyimide films due to COVID-19
  • Potential application as a coating for smart windows

Challenges

  • Issues with the processing of polyimide films
  • Achieving product chemistry and consistency

Companies Mentioned

  • 3M Company
  • Aavid Kunze GmbH
  • Anabond Limited
  • Arakawa Chemical Industries, Ltd.
  • Circuit Components Supplies Ltd
  • Dr. Dietrich Muller GmbH
  • Dunmore Corporation
  • E. I. DuPont De Nemours and Company
  • Evertech Envisafe Ecology Co., Ltd.
  • Flexcon Company, Inc.
  • Goodfellow
  • Industrial Summit Technology Corporation
  • Kaneka Corporation
  • Kolon Industries, Inc.
  • Liyang Huajing Electronic Material Co., Ltd
  • Mitsubishi Gas Chemical Company Inc.
  • Nitto Denko Corporation
  • Parafix Tapes & Conversions Ltd.
  • PI Advanced Materials Co., Ltd.
  • Polyonics, Inc.
  • SKC
  • Saint-Gobain
  • Shinmax Technology Ltd.
  • Suzhou Kying Industrial Materials Co., Ltd.
  • Taiflex Scientific Co. Ltd.
  • Taimide Tech. Inc.
  • Tianjin Hengji International Trade Co., Ltd
  • Toray Industries, Inc.
  • UBE Industries Ltd.
  • Yongkang Haotai Industry and Trade Co., Ltd.
  • Yunda Electronic Materials Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/l55sr7