The $ 2.4 Billion Polyimide Film and Tape Market by 2026
CHICAGO, September 15, 2021 / PRNewswire / – According to New Market Research Report “Polyimide Films and Tapes Market By Application (Flexible Printed Circuit Boards, Specialty Manufactured Products, Pressure Sensitive Tapes, Motors / Generators, Wires & Cables), End Use Industry (Electronics, Automotive) and Region – Global Forecast to 2026 “, published by MarketsandMarkets ™, the market for polyimide films and tapes is estimated at $ 1.6 billion in 2021 and should reach $ 2.4 billion by 2026, at a CAGR of 8.5% from 2021 to 2026. Growing demand from flexible display and optoelectronics industries is one of the key factors for the growth of this market.
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Flexible printed circuit boards are the main application segment of the polyimide films and tapes market
On the basis of applications, the flexible printed circuit board segment is expected to grow at the highest CAGR from 2021 to 2026. Flexible printed circuit boards 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 because the circuits have to be bent one or more times during assembly of the housing or because they undergo continuous bending as required. Manufacturing companies prefer polyimide films and tapes as the base material instead of polyethylene terephthalate (PET) and polyethylene naphthalate (PEN) films, mainly because of their advantages including high processing temperature range and unlimited weldability. Flexible printed circuits are widely used in industries such as aerospace, electronics and medical.
Electronics is predicted to be the fastest growing end-use industry segment of the Polyimide Films Market
Based on the end-use industry, the electronics segment is expected 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 harsh chemicals. They are increasingly 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 in the world.
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Asia-Pacific regional segment accounted for largest share of polyimide films and tapes market
The market for polyimide films and tapes in the Asia Pacific region accounts 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 increasing household incomes, especially in emerging Asian markets, have led to strong demand for consumer electronics products, thus contributing to the growth of polyimide films and tapes market in this region.
The major players in the polyimide films and tapes market are EI DuPont de Nemours and Company (US), PI Advanced Material Co., Ltd. (South Korea), Ube Industries Ltd. (Japan), Taimide Tech. Inc. (Taiwan), 3M Company (United States), Kaneka Corporation (Japan), Kolon Industries Inc. (South Korea), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan) and FLEXcon Company, Inc. (United States).
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