Polyimide Film Material Kits Market Share Will Hit $ 3.0 Million By 2030 | Growth With Recent Trends & Demand

Polyimide film exhibit superior chemical, thermal, and physical properties over a wide range of temperature range, making it suitable for electrical insulation applications. In addition, polyimide films are used as a heat-resistance film material in motors of electric vehicles.

The aerospace sector is witnessing significant growth majorly due to the presence of resources, and intense R&D activities. Moreover, increase in foreign direct investment (FDI) inflow has created huge opportunities in the aerospace sector. For instance, according to a report published by the India Brands Equity Foundation, the FDI inflow of over $463.55 million has been registered in the defense and aerospace sector as of June 2020.

Polyimide films are widely used in aerospace components such as principle wire and cable insulation, semiconductor, and circuit boards in commercial aircraft, missiles, and space vehicles. This may act as one of the key drivers of the polyimide film market. In addition, both developed and developing economies such as the U.S., China, and India are consistently engaged in expanding their aerospace & defense power by upgrading their fighter jets and missiles where polyimide films are widely used in wire and cable insulation to maintain the functionality even at cryogenic temperatures. Thus, escalating demand from the aerospace sector is predicted to notably contribute toward the global market.

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The global polyimide film market was valued at $1.7 billion in 2020, and is projected to reach $3.0 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.

Polyimide films are used for making labels along with other materials such as silicon release material and printable topcoat. Polyimide film-based labels are used in electronic industry, owing to their stability and enhanced heat- and chemical-resistant properties. Surge in demand for a wide range of consumer goods has propelled the growth of logistics and packaging sector, wherein polyimide films are widely used in dispensing, printing, or applying labels in packages. In addition, rapid technological advancements have led the electronic industry to witness a significant increase in demand. Polyimide films are being used for producing labels in a wide range of electronic products, which is anticipated to create remunerative opportunities for the expansion of the global market in the coming future.

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Key Market Players:
Saint Gobain, DuPont, SHINMAX Technology Ltd., KANEKA CORPORATION, FLEXcon Company, Inc., Arakawa Chemical Industries, Ltd., Toray Industries, Inc., UBE Industries Ltd., KOLON Industries, Taimide Tech. Inc.,

COVID-19 analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The major end users of polyimide films such as electronics, aerospace, automotive, labeling, and solar have been negatively impacted due to the pandemic outbreak. The ongoing health crisis has further increased the supply-demand gap, thus hampering the global polyimide film supply chain. According to an article published by the Economic Times, the exports of electronic products such as wires and cables, and semiconductors have declined due to supply chain issues. Moreover, several electronics companies have either shut down or shrank their operations due to the risk of infections among the workforce. Moreover, more than 100 countries have sealed their international borders for transportation and halted nonessential trade activities, which, in turn, have reduced the consumption of polyimide films among several end-use sectors. In addition, the falling income of customers and international travel restrictions have led to a contraction of the demand for polyimide films among the aerospace sector. For instance, according to a report published by the

Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than in September 2019, affecting long-term existential threats to manufacturers, the supply chain, and the entire air travel industry. Moreover, COVID-19 has put a temporary brake on various aircraft manufacturing projects, which, in turn, has shrunk the demand for polyimide films among the aerospace sectors.

In 2020, polyimide film prices are expected to be higher in Asia. The price rise is majorly attributed to continued regional demand trends and tight product availability. Firm downstream polyimide film demand and stronger upstream costs are expected to sustain the price gain.

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