Polyimide Film Market Value To Cross $3.0 Billion By 2030 | Top Companies and Industry Growth Insights

Polyimides are high-performance polymers with remarkable properties including resistance to solvents, high-temperature stability, and greater strength. Thus, they are widely used in aerospace & aviation applications and the electronics industry.

The global polyimide film market generated $1.7 billion in 2020, and is predicted to reach $3.0 billion by 2030, exhibiting a CAGR of 5.6% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.

Increase in demand for polyimide film from the electronic sector and rise in demand from the aerospace sector propel the global polyimide films market growth. On the other hand, high production costs hamper the market progress. On the contrary, launch of transparent polyimide films with a flexible substrate creates positive market opportunities.

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COVID-19 scenario:

The key end-users of polyimide films such as aerospace, electronics, automotive, labeling, and solar are negatively impacted due to the pandemic.
The COVID-19 outbreak has increased the supply-demand gap. Moreover, the export of electronic products such as wires, cables, and semiconductors has declined attributed to disrupted supply chain.
Many electronics companies have closed or halted their operations and many countries have restricted international transportation and trade activities, affecting the consumption of polyimide films among the number of end-use sectors.
Drop in the income of customers and restrictions on foreign trips have affected the demand for polyimide films from the aerospace market.
COVID-19 has halted several aircraft manufacturing projects. This has dropped the demand for polyimide films.
However, the polyimide film market is anticipated to recover rapidly due to an increase in dependency on the electronic sector which is a major end-user of polyimide films.
The report segments the global polyimide film market on the basis of application, end-use, and region.

Based on application, the flexible printed circuits segment accounted for the largest market share in 2020, contributing to more than one-third of the total share, and is anticipated to maintain the lead throughout the forecast period. The same segment is projected to witness the fastest CAGR of 6.0% from 2021 to 2030. The report also covers segments including flexible printed circuits, pressure-sensitive tapes, wire & cable, specialty fabricated products, and others.

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Based on end-use, the electronics segment contributed to the highest market share in 2020, attributing to around one-third of the total market share, and is expected to dominate the market during the forecast period. The same segment is expected to manifest the fastest CAGR of 5.9% from 2021-2030. The report also covers segments such as labeling, aerospace, automotive, and others.

Based on region, Asia-Pacific, followed by North America, contributed to the highest share in 2020, holding more than two-fifths of the total share, and is projected to lead throughout the forecast period. The market across the Asia-Pacific region is anticipated to portray the fastest CAGR of 6.2% during the forecast period.

Key players of the global polyimide film market analyzed in the report include Chemical Industries Ltd., FLEXcon Company Inc., DuPont, Kaneka Corporation, KOLON Industries, Saint Gobain, SHINMAX Technology Ltd., Taimide Tech. Inc., Toray Industries Inc., and UBE Industries Ltd.

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Increasing demand for polyimide films in the aerospace industry

As polyimide films have higher mechanical strength, better insulating properties, and thermal stability over other polymers, they are the ideal material for several electronic applications, especially in the aerospace and transportation industries. These end-use industries have strict thermal and mechanical requirements for materials. Apart from this, polyimide films are suitable for medical devices including cardiovascular catheters, neurological devices, and push rings.

Recently, RUAG International developed products that required multi-layer thermal insulation that protects the OneWeb satellite against heat and cold in space. For this purpose, the company used several layers of metal-evaporated polyimide film. Now, researchers are looking at polyimide films to be used on external surfaces of spacecraft to protect from the harsh environment of low Earth orbit. Polyimide composite films offer comprehensive performance when it comes to heat and cold resistance but they show inadequate atomic oxygen resistance. On the contrary, a team of researchers has proposed a double layer nacre-inspired structural design strategy and polyimide-based nanocomposite film that offers excellent mechanical properties and atomic oxygen resistance.

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