The global polyimide films market is expected to grow at a CAGR of 6% during the forecast period of 2023 to 2030. The presence of potential end-user sectors gives the Asia-Pacific region the upper hand in terms of the market share at the moment. The expansion of the use of polyimides in the automotive and aerospace industries is one of the most notable trends that the market is now experiencing. The high cost in comparison to that of other polymers and the relatively weak bonding strength in contrast to those of potential substitutes are anticipated to impede the expansion of the market. The growing popularity of electric vehicles and the expanding application of the product in food-safe and bio-compatible goods are both anticipated to create opportunities for the market.
Increasing Demand in the Healthcare Industry
Due to its resistance to burst pressure, flexibility, and chemical exposure, polyimide is a material that is utilised for medical tubing in the healthcare industry, specifically in vascular catheters. In applications involving extreme temperatures or medicine, optical fibres can also be coated with this substance. It is anticipated that the market for polyimides in their many applications will expand as a result of the expanding healthcare industry. A recent study conducted by Actuaries working for the Federal Government of the United States found that the total amount spent on healthcare in the United States amounted to USD 3.65 trillion. According to the Organization for Economic Co-Operation and Development (OECD), this is by far the most amount of money that has ever been spent anywhere in the globe. As a result of improvements in coverage and services, as well as rising levels of investment from both public and private entities, the healthcare industry in India has emerged as one of the country's most important economic pillars. The percentage of the total budget allocated to the healthcare industry by the government rose to 1.4%. The India Brand Equity Foundation (IBEF) projects that the healthcare market in India will reach over USD 370 billion by the year 2023. This growth is anticipated as a result of the rise in disposable incomes, increased health awareness, the prevalence of lifestyle diseases, and the expanding availability of insurance. By the year 2023, it is anticipated that the hospital industry would have achieved a CAGR of approximately 16.5%. It is anticipated that such elements will drive the healthcare business, which would, in turn, lead to an increase in the use of polyimides in the applications of this industry.
Increased Demand from The Electronic Industries Is the Primary Driver.
The introduction of new technologies has been the primary driver behind the considerable expansion that the electronics industry is currently experiencing. This industry is seeing rapid expansion in a number of product categories, including those for 3D TVs, smart TVs, smartphones, and tablets. Traditional flexible printed circuit boards (FPCBs) are made from something called flexible copper-clad laminates (FCC), which are made up of polyimide films bonded to copper foils. However, the majority of standard polyimide films have a colour ranging from yellow to deep amber, and as a result, they cannot be employed for the manufacture of FCCL. As a result, clear polyimide films have been selected to serve as an alternate source of material in the production of transparent FCCLs. Consumers are most interested in purchasing electrical items that are compact, lightweight, and relatively thin. As a result, there is a significant need for the development of materials that are not only reliable but also lightweight and long-lasting. For the production of printed circuit boards that are used in compact electronic devices like portable computers, watches, panel boards, and digital cameras, polyimide films and tapes are utilised in the manufacturing process. The increased demand for polyimide films in the electronic industry can be attributed to the material's excellent thermal stability, in addition to its exceptional mechanical and electrical qualities. For example, the base of the cable that connects the main logic board to the display of a laptop typically consists of polyimide, whereas the conductor of the cable is typically made of copper. This is because the cable must bend whenever the laptop is opened or closed. The high-temperature characteristics, low dielectric constants, inertness to solvents, and long-term stability of polyimide films are primarily responsible for driving demand for these films in this sector of the economy.
Production Cost to Remain as the Key Constraint
The production of high-performance polyimide films and tapes requires the use of a monomer as a critical component. The proper choice of monomer allows for the achievement of desirable properties in the finished product, such as low dielectric constant and low thermal expansion. The high manufacturing costs and very limited commercial availability of monomers for synthesis are likely to blame for the sluggish expansion of the polyimide films and tapes market. In addition, the production of polyimide films calls for a significant amount of technical expertise in addition to the utilisation of specialised equipment. The chemical imidization that takes place during the production of polyimide films prevents a counter-depolymerization reaction from taking place. As a result, polyimides are able to gain greater and more stable mechanical characteristics. However, because additional reagents were used in the production of the final product, the cost of it was increased.
Polyimide Films with A Transparent Appearance Are Favoured for Use in Flexible Displays and Optoelectronics
PET and other conventional polymer films have excellent optical transparency. However, these films provide difficulties in the advanced engineering of optoelectronics, primarily as a result of their restricted temperature range for service. Because of this, traditional polymers are being phased out in favour of polyimide films and tapes due to their transparency. Displays have been made thinner, lighter, and less fragmented as a result of recent substantial developments in flexible active-matrix organic light-emitting diode (AMOLED) displays. These displays have replaced rigid glass with flexible substrates and thin films such as transparent polyimide films. There are several prominent phone manufacturers that are now in the process of producing prototypes of flexible smartphones. These include the Royole Corporation's FlexPai, Samsung's Galaxy Fold, Huawei's Mate X, Lenovo's Cplus, and Apple, which has its own patent on the technology. The production of solar cells by employing films made of colourless polyimide provides a number of useful benefits, including a reduction in overall weight, cost savings, and the simplification of the manufacturing process. The optical polymer substrates that are used in solar cells have to be clear, and they need to be able to tolerate processing temperatures of more than 300 degrees Celsius. It is feasible to manufacture solar cells that have a high-efficiency thanks to the features of polyimide films and tapes that are transparent.
Problems Encountered During the Manufacturing Process of Polyimide Films and Tapes
Polyimides are a category of high-performance polymer materials that are characterised by the presence of the imide functional group. The structure of the polyimide backbone is what gives these materials their key features of thermal stability and chemical resistance. On the other hand, the imide structure is what gives these materials their mechanical strength. The extremely high level of technical expertise required for the processing of polyimide films is a significant obstacle for the industry. Their strong resistance to heat and chemicals can also lead to processing difficulties, such as the lack of solubility, which typically results in other materials being integrated into the polymer matrix. These difficulties can be avoided by choosing a material with lower resistance to heat and chemicals. In the processing of polyimide films, some of the most significant challenges are the following: high non-uniformity; high stress, which causes the thickness of the films to be decreased to approximately 50–60% of the values originally deposited.
The Consumer Electronics Takes the ForeFront
The Consumer Electronics sector is the key consumer of polyimides around the globe and is expected to be the primary driver of market growth in the future. The demand for portable computing devices, cellular phones, gaming systems, and other personal electronic gadgets has been continually on the rise, which has contributed to the expansion of the global consumer electronics sector around the world. This industry is seeing rapid expansion in a number of product categories, including 3D TVs, smartphones, smart TVs, and tablets. Polyimide sheets are bonded to copper foils to create flexible copper-clad laminates, which are then used to manufacture conventional flexible printed circuit boards (FPCBs). However, the majority of standard polyimide films have a colour that ranges from yellow to deep amber, and as a result, they cannot be used for the manufacture of FCCL. Because of this, colourless polyimide films are favoured over other types of materials when it comes to the production of transparent FCCLs. Customers give preference to electrical goods that are not only light but also tiny and thin. As a result, there is a significant demand for materials that are not only reliable but also lightweight and long-lasting. The production of printed circuit boards in compact electronic devices, such as watches, panel boards, portable computers, and digital cameras, requires the use of polyimide films and tapes in the manufacturing process. The spike in demand for polyimide film in the electronic industry can be attributed to the material's outstanding thermal stability, in addition to its excellent electrical and mechanical qualities. As a point of interest, the cable in a laptop that connects the main logic board to the display often has a polyimide base and a copper conductor. This wire must flex whenever the machine is opened or closed. The necessity for polyimide films in this sector of the economy is mostly attributable to the high-temperature qualities, low dielectric constants, inertness to solvents, and long-term stability offered by these films. In addition, the Indian Brand Equity Foundation projects that the Indian consumer electronics market, which reached USD 10.93 billion in 2019, will nearly double to USD 21.18 billion by the year 2025. This projection is based on current trends and projections. As a result, it is anticipated that the application of polyimide in the consumer electronics sector would increase, which will drive the entire market.
APAC Remains as the Market Leader
The Asia Pacific led the market in 2021 in terms of global revenue share. It is projected that the market for polyimide and imide polymers in North America will expand at a sluggish rate due to saturation in major end-user industries such as the electronics industry. Europe is the second largest market for polyimide and imide polymers after the Asia-Pacific region. The polyimide and imide polymer market is very strong in Europe, particularly in the United Kingdom, Germany, and France. Additionally, it is projected that the revitalization of the automotive sector in the European region will fuel growth in the polyimide and imide market in that region. It is anticipated that the Asia-Pacific area will take the lead in the manufacture of polyimides, with the majority of the world's consumption occurring in China and India. Electronic products, including televisions, wires, cables, smartphones, portable computing devices, gaming systems, and other personal electronic devices, recorded the highest development in the electronics segment in China, which not only satisfies its domestic need but also exports the goods. China is the broad base for electronics production in the world. In addition to the electronic sector, India, Japan, China, and South Korea are among the most notable manufacturers of automobiles. One of the components of these vehicles is polyimide, which explains the demand for polyimide in the region. It is anticipated that the aerospace industry would be the primary driver of growth in the polyamide market due to the growing popularity of air travel in countries such as China and India. PET and other conventional polymer films have excellent optical transparency. However, these films provide difficulties in the advanced engineering of optoelectronics, primarily as a result of their restricted temperature range for service. As a result, films and tapes made of transparent polyimide are currently favoured over those made of ordinary polymers. Displays have been made more delicate, lighter, and less fragmented as a result of recent significant developments in flexible active-matrix organic light-emitting diode (AMOLED) displays. These displays have replaced rigid glass with flexible substrates and thin films such as transparent polyimide films. According to the Global Times, China launched 89 spacecraft in the year 2020, making it one of the most important countries in the space industry and increasing the amount of polyimide that is used in the country. Because more than 60% of the world's population lives in the Asia-Pacific region, there is a growing demand for healthcare in that region, whether it be in the form of X-Ray machines or cardiovascular tubes. This makes the healthcare business a crucial market for the polyimide industry. Polyimides are also utilised in the production of flexible solar panels, and because of the growing demand for solar energy in countries like India and China, the polyimide market is anticipated to develop in the area. Countries like India and China are both major consumers of solar energy. Because of things like these, the Asia-Pacific area has become absolutely necessary for the market for polyimides.
China to Dominate Within APAC
China has one of the world's economies that is expanding at one of the fastest rates, and practically all of the end-user sectors have been expanding as a result of China's growing population, improved living standards, and higher income per capita. On the other hand, the growth rate is anticipated to decrease in the first few years of the projected period as a result of disruptions in international trade as well as unfavourable developments in geopolitical affairs. Polyimide materials are utilised in the electronics industry for flexible cables and as insulating coatings on magnetic wires. The growth is predicted to pick up pace in the later part of the forecast period, taking into consideration the favourable conditions and relations in the future. In addition, an insulating and passivation layer is typically constructed out of polyimide resin during the production of integrated circuits. The production base for electronic goods in China is the greatest in the world. Within the electronics market, the category that had the most expansion was electronic products. This included things like smartphones, OLED televisions, tablets, wires, cables, and earbuds. In addition to satisfying the demand for electronics within its own borders, the nation also sells its manufactured goods to customers in other nations. It is anticipated that the production of electronics will expand even further in China as a result of an increase in the level of disposable income enjoyed by China's middle-class population as well as an increase in the demand for electronic products in countries that obtain their electronics from China as a supplier. According to the Industry, Science, and Technology International Strategy Center (ISTI), the production value of Taiwan's semiconductor industry is expected to grow substantially as a result of the rising demand for integrated circuit (IC) devices to be used in applications related to artificial intelligence. This prediction was made in light of the fact that Taiwan is home to a large number of semiconductor companies. The expansion of industries such as healthcare, electronics, and semiconductors is anticipated to be a primary driver of the polyimides market.
Consolidated Market to Remain Challenging for New Players
The market for polyimides is largely consolidated, with only a small number of competitors controlling the majority of the market share. In the market for polyimides, key players include companies such as Dupont, Mitsui Chemicals, SABIC, Saint-Gobain, and Toray Industries Inc., amongst others. In addition to other companies, worldwide market players include DuPont de Nemours, Kolon Industries Inc., 3M Company, Kaneka Corporation, and UBE Industries.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Polyimide Films market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
