Polyimide Films and Tapes Market worth $2.4 billion by 2026 | Key players 3M Company, Kaneka Corporation, Kolon Industries Inc., Shinmax Technology Ltd., FLEXcon Company, Inc.

According to recent market research the "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 - Global Forecast to 2026"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. Increasing demand from flexible displays and optoelectronics industries are one of the key factors driving the growth of this market.

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Based on application, the flexible printed circuits segment is projected to grow at the highest CAGR from 2021 to 2026. Flexible printed circuits are widely used in automotive and electronics industries. Polyimide films and tapes are also the most preferred insulating material due to their low dielectric constant. The demand for flexible printed circuits is high as circuits must be bent once or a few times during the package assembly or because they undergo continuous flexing as and when required. Manufacturing companies prefer polyimide films and tapes as a base material instead of Polyethylene Terephthalate (PET) and Polyethylene Naphtholate (PEN) films mainly due to their advantages, which include high processing temperature range and unrestricted solderability. Flexible printed circuits are widely used in industries, such as aerospace, electronics, and medical.

Based on end-use industry, the electronics segment is anticipated to grow at the highest CAGR from 2021 to 2026. Polyimide films and tapes provide excellent electrical insulation properties under harsh conditions, such as high-temperature ranges and exposure to aggressive chemicals. They are increasingly being used by component manufacturers and equipment designers due to their design flexibility. As a result, the electronics industry is the largest consumer of polyimide films and tapes globally.

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The polyimide films and tapes market in the Asia Pacific region is accounted for the largest share in 2020. China, India, Japan, and South Korea are key countries contributing to the high demand for polyimide films in this region. Innovation, price deflation, and rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the polyimide films and tapes market in this region.

Some of the key players in the market include E. I. DuPont de Nemours and Company (US), PI Advanced Material Co., Ltd. (South Korea), Ube Industries Ltd. (Japan), Taimide Tech. Inc. (Taiwan), 3M Company (US), Kaneka Corporation (Japan), Kolon Industries Inc. (South Korea), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company, Inc. (US).

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PI Advanced Materials Co., Ltd. (South Korea) is the dominant player in the global polyimide films and tapes market. The company invests in R&D to introduce innovate products, which can be of higher quality and can be used across end-use industries at affordable prices. It also has a strong distribution channel, making products available across the globe to various end-use industries. PI Advanced Materials Co., Ltd. is among the largest producers of polyimide films in the world. The company has a wide range of product offerings, as it is among the largest producers in the country. It has the highest R&D expenditure percentage in comparison with other major players in the market and has also expanded in recent years. It has a good brand image and is among the new manufacturers of polyimide films and has a good product differentiation and impact on customer value. PI Advanced Materials Co., Ltd. has a global presence. The company focuses on the effectiveness of growth strategy, as it is focusing on inorganic strategies. It has a strong distribution channel and has four overseas facilities spread across the world, making it one of the largest companies, globally. The company is well aligned with its strategy of sustainable growth. It also has high operating and profit margins.

E. I. DuPont de Nemours and Company is a global innovation leader across a diverse range of industries like agriculture, biotechnology, chemistry, infrastructure, manufacturing, and material sciences. The company operates through five business segments, namely, Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core. The Electronics & Imaging segment provides process chemistries for the fabrication of flexible printed circuit boards, polyimide films, laminates, and substrates. E.I. DuPont de Nemours and Company first developed a polyimide technology in the 1960s and, since then, has been a leading manufacturer of polyimide films known by the brand name Kapton. In March 2019, the company decided to invest over USD 200 million in its Electronics & Imaging segment to expand the production lines for its Kapton polyimide films and Pyralux flexible circuit materials at its Circleville, Ohio plant to meet the growing market demand. To date, the company has already invested USD 40 million in its expansion and expects the facility to be operational by 2021. E.I. DuPont de Nemours and Company currently operates in 70 countries worldwide and has manufacturing operations in approximately 40 countries.

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