PUNE, India, May 19, 2017 /PRNewswire/ --
The report "Polyimide Films Market by Application (Flexible Printed Circuit, Specialty Fabricated Product, Pressure Sensitive Tape, Wire & Cable, Motor/Generator), End-Use Industry (Electronics, Aerospace, Automotive, Labeling) - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated at USD 1.52 Billion in 2017 and is projected to reach USD 2.45 Billion by 2022, at a CAGR of 10.0% from 2017 to 2022.
Browse 112 market data Tables and 43 Figures spread through 171 Pages and in-depth TOC on "Polyimide Films Market"
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Increased demand from the consumer electronics industry, growing automotive industry, and superior thermal and mechanical properties of polyimide films in comparison to other polymers are the key factors driving the growth of the polyimide films market.
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Flexible printed circuit is the fastest-growing application segment of the global polyimide films market
Based on application, the flexible printed circuit segment is projected to grow at the highest CAGR from 2017 to 2022. Flexible printed circuit is widely utilized by various end-use industries, major ones being automotive and electronics. There is a high demand for polyimide films in this segment as the flexible printed circuits help in reducing the size of the electronic devices and improving functionality.
Electronics is the fastest-growing end-use industry segment in the global polyimide films market
Based on end-use industry, the electronics segment is expected to grow at the highest CAGR from 2017 to 2022. Polyimide films provide excellent electrical insulation properties under harsh conditions, such as high temperature ranges and exposure to aggressive chemicals. They also offer excellent chemical and temperature resistance, and design flexibility for component manufacturers and equipment designers. Hence, the electronics end-use industry is the largest consumer of polyimide films globally.
Asia-Pacific is the fastest-growing regional segment in the global polyimide films market
The Polyimide Films Market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are key countries contributing to the high demand for polyimide films in the Asia-Pacific region. Innovation, price deflation, and rising household incomes, especially in emerging markets in Asia have resulted in a high demand for consumer electronic products in the region, which is expected to be the fastest-growing market for polyimide films during the forecast period.
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Key players in the market include DuPont-Toray (Japan), SKC Kolon PI (South Korea), Kaneka Corporation (Japan), Ube Industries (Japan), Taimide Tech Inc. (Taiwan), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company Inc. (U.S.) among various other players.
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