NEW YORK, Dec. 7, 2022 /PRNewswire/ -- The polyimide films market revenue was $1.34 billion in 2021, and it will reach $2.19 billion by 2030, propelling at a rate of 5.6%. This will be mainly because of the rise in the manufacturing of aerospace devices and the speedy growth in the automotive and electronics industries.
Flexible Printed Circuits Were Demanded Most
Flexible printed circuits are the most demanded, with an over 40% share in the application segment. This is because polyimide sheets are utilized as the foundation for producing flexible printed circuit boards, which are widely used in automobiles, mobile phones, and next-generation flexible displays.
The wire & cable category follows the flexible printed circuit boards category. This is because the material is apt for uses that require a high tensile strength, high electrical resistivity, flammability, and solvent resistance.
Moreover, the increase in the requirement for polyimide-based wires and cables from the automotive and aerospace sectors will drive the growth of this industry.
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Material Usage Rising in Aerospace and Defense Applications
The aerospace category will grow at a significant rate in the future. This will be because of the rising usage of these films in sensors, wires & cables, and engines and the increasing investments from government and private administrations in aerospace activities. These films are used significantly in defense equipment because they are lightweight, flexible, strong, and durable.
Polymide Films Better than Conventional Films
Conventional polymer films are not suitable for applications involving higher temperatures. Here, the advent of transparent films for display and optoelectronics has removed the problems previously encountered because of conventional films. Likewise, the developments in smart device technologies are creating numerous prospects for the industry stalwarts.
Growing Material Adoption in Electronics Industry
The electronics category had a revenue share of over 52% in the past, because of the advancements in this field. Numerous electronic items, including 3D TVs, smartphones, smart TVs, and tablets are witnessing a rapid increase in their production.
Furthermore, small, thin, and lightweight electrical items are now favored by consumers. Consequently, lightweight, dependable, and robust materials, such as polyimide films, are growing in requirement around the world.
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APAC Dominates Industry
APAC dominates the global market with a share of around 42%, and it will also grow significantly in the years to come. This is because of the increase in the requirement for such products in China, South Korea, India, and Japan.
North America will register a growth rate of approximately 5.9% in the near future. This is credited to the fast expansion in the aerospace and electronics industries in Canada and the U.S.
Polyimide Films Market Report Coverage
Flexible Printed Circuits
Wires & Cables
Specialty Fabricated Products
Motors & Generators
Middle East and Africa
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