Wide Applications in Several Industries Driving Polyimide Films Market

The global polyimide films market attained a value of $1,850.0 million in 2016and is projected to grow at a 10.1% CAGR during the forecast period (2017-2023). The market is growing because of the rising demand for electronic products, technological advancements in the aerospace and automobile industry, and wide applications in several industries. Polyimide films can be engineered and converted for meeting certain physical requirements for chemical, temperature, mechanical, and electrical properties. Some examples of polyimide films are UPILEX, Norton TH, Kaptrex, Kapton, VTEC PI, and Apical.

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In terms of application, the polyimide films market is categorized into specialty fabricated product, motor/generator, flexible printed circuit (FPC), pressure sensitive tape, and wire & cable. Out of these, the FPC application dominated the market during the historical period (2013-2016) and is predicted to hold the largest share of the market during the forecast period as well, in terms of value and volume. Polyimide films are utilized as an insulating material for the manufacturing of FPC and are preferred over other materials, such as epoxy resins, polycarbonates, and polyurethanes, due to their several properties.

The wide applications of polyimide films in several industries is a major driving factor of the polyimide films market. The numerous properties of these films, including thermal stability, ability to withstand wide range of temperatures, chemical resistance, flexibility, durability, water absorption characteristics, and excellent tensile strength, make it ideal for different applications in various industries. Due to this, polyimide films are used in industries such as flex circuits, industrial, electronics, medical, and military. Moreover, these films are used in the manufacturing of microelectromechanical systems and digital semiconductors.

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North America held the second largest share of the polyimide films market in 2016. Major growth drivers for the market in the region are growing usage of PI tapes in high-tech aerospace industry, growing demand of insulation tape for manufacturing body parts in automotive industry and emergence of application of PI films in medical sector. Product innovation by leading polyimide products manufacturers also boosted the growth of the market. For example, in September 2017, FLEXcon Company Inc. launched Thermlfilm HT product line, a new polyimide film under the brand name 'Thermlfilm HT 9000' series. This product is useful in the manufacturing of printed circulated boards.

Competitive Landscape

Some of the major players operating in the PI films industry are E.I. Du Pont De Nemours and Company, Kaneka Corporation, Saint-Gobain S.A., SKCKOLONPI, Inc., Arakawa Chemicals Industries, Ltd., Taimide Tech. Inc., Yunda Electronic Materials Co., Ltd., I.S.T. Corporation, FLEXcon Company, Inc., and UBE Industries Ltd.

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