Colorless Polyimide Films Market worth $1,102 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 24, 2023 /PRNewswire/ -- The report "Colorless Polyimide Films Market by Application (Flexible Displays, Flexible Solar Cells, Flexible Printed Circuit Boards, Lighting Equipment), End-Use Industry (Electronics, Solar, Medical), and Region - Global Forecast to 2027", is expected to grow from USD 96 million in 2022 to USD 1,102 million by 2027, at a CAGR of 60.0% during the forecast period. The key factor driving the colorless polyimide market include increasing demand from applications such as flexible displays, flexible solar cells, and flexible printed circuit boards owing to its excellent heat resistance and light transmittance properties.

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Excellent light transmittance of colorless polyimide films leading to its application in flexible displays

The colorless polyimide market has been segmented into flexible displays, flexible solar cells, flexible printed circuit boards, lighting equipment, and others, on the basis of application. Amongst these, the flexible displays segment accounted for the largest share of the market in 2021. With digitalization, a significant amount of information is being consumed through electronic media such as mobiles and laptops and hence, consumers have presented demand for high-quality, convenient, and portable digital devices with advanced display designs. Designers are also looking for greater freedom in developing them and are moving away from traditional display designs to next-generation displays that are larger, thinner, lightweight, and flexible or foldable. As colorless polyimide combines the thermal resistance properties of polyimide resin with the optical performance of polymer products, it is a the forefront for making of flexible display cover windows.

Product innovation in the electronics industry presenting growth opportunities for the colorless polyimide films market

The colorless polyimide films market is segmented on the basis of end-use industry into electronics, solar, medical, and others. Out of them, the electronics segment is projected to dominate the demand for these films through the forecast period. Colorless polyimides provide excellent thermo-mechanical properties, have high chemical resistance, and are also optically transparent. These properties are suitable for manufacturing electronic components such as flexible displays and flexible printed circuit boards. With electronics companies constantly developing new products to attract potential customers, including the likes of foldable smartphones, flexible screen for laptops, and curved displays in televisions, the demand for colorless polyimides films is expected to grow during the forecast period.

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Asia Pacific is projected to register the fastest growth between 2022 to 2027

Asia Pacific is the dominant market for colorless polyimide films. Innovation, price deflation, and rising household incomes, especially in emerging markets in Asia Pacific, have resulted in high demand for consumer electronics products in the region. Electronics companies including Oneplus, Xiaomi, Samsung, and LG, present in Asia Pacific, are well-positioned in the field of flexible electronics and dominate their commercial applications. These companies have been at the forefront in the development of electronics with flexible design using colorless polyimide films in their components. With the demand for flexible electronics gaining traction, these companies are expected to boost the production of such devices. For instance, according to OMDIA, the shipment of flexible OLED panels is expected to grow by 10 times between 2022 and 2028. Owing to these factors, the market of these films is expected to be concentrated in the Asia Pacific region through the forecast period.

Market Players

DuPont (US), Kaneka Corporation (Japan), Kolon Industries Inc. (South Korea), SK Innovation Co., Ltd. (South Korea), and Sumitomo Chemical Company Ltd. (Japan) are the key players in this market. These players have adopted strategies such as expansions and new product development to enhance their position in the market.

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