Colorless Polyimide Films Market worth $1,162 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 23, 2021 /PRNewswire/ -- According to the new market research report "Colorless Polyimide Films Market by Application (Flexible Displays, Flexible Printed Circuit Boards, Flexible Solar Cells, Lighting Equipment), End-Use Industry (Electronics, Solar Energy, Medical), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Colorless Polyimide Films Market is projected to grow from USD 70 million in 2021 to USD 1,162 million by 2026, at a CAGR of 75.3% from 2021 to 2026. The market growth is driven by the increasing demand for colorless polyimide films from applications such as flexible displays, flexible solar cells, and flexible printed circuit boards, among others.
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On the basis of application, the flexible displays segment is projected to grow at the highest CAGR from 2021 to 2026.
By application, the flexible displays segment accounted for the largest share of the colorless polyimide films market in 2020. With digitalization, a significant volume of information is being exchanged through electronic media, and hence, consumers demand high-quality, convenient, and portable digital devices with advanced display designs. With rising applications across multiple industries, designers are 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 have the ability to curve and be flexible. Researchers have been focusing on developing advanced materials, and at the forefront of making flexible displays a reality is the optical polymer film termed as colorless polyimide. This type of polyimide has high optical transparency and transmittance along with a high thermal resistance, which proves to be essential for fabricating flexible displays as the operating temperatures are usually above 300° C and most other optical polymers.
On the basis of end-use industry, the electronics segment is projected to grow at the highest CAGR from 2021 to 2026.
By end-use industry, the electronics segment accounted for the largest share of the colorless polyimide films market in 2020. Colorless polyimides provide excellent thermo-mechanical properties, have high chemical resistance, and are also optically transparent. These properties are suitable for manufacturing electronics such as flexible displays, flexible printed circuit boards, flexible solar cells, and lighting equipment. Fabricating temperatures may go as high as 300°C, and conventional aromatic polyimides tend to disintegrate or change their color at such high processing temperatures. Hence, the demand for colorless polyimides is expected to increase as manufacturing technologies become more efficient and consistent.
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Asia Pacific is projected to register the fastest growth from 2021 to 2026
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. Asia Pacific countries are well-positioned to enter the field of flexible electronics and dominate their commercial applications. Countries of this region have numerous large industrial groups with extensive manufacturing capabilities in sectors directly relevant to flexible electronic devices such as microelectronics, optoelectronics, printed electronics, photovoltaics, and flexible displays. Research capabilities in these countries have become adept due to government support, which includes government laboratories, universities, and company R&D centers. Countries like China, South Korea, Taiwan, and Japan are the major countries in this region's colorless polyimide films market. These countries have not only colorless polyimide fabricating prowess but also major electronic manufacturing companies that help maintain the supply demand equilibrium.
E. I. du Pont de Nemours and Company (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. Other noteworthy public and private players in this market are Wuhan Imide New Materials Technology Co., Ltd. (China), Industrial Summit Technology Corporation (Japan), NeXolve Holding Company (US), Wuxi Shunxuan New Materials Co., Ltd. (China), Suzhou Kinyu Electronics Co., Ltd. (China), Changchun Gao Qi Polyimide Material Co., Ltd. (China), Zymergen Inc. (US), and Dr. Dietrich Muller GmbH (Germany). These players have adopted strategies such as expansions and new product development to enhance their position in the Colorless Polyimide Films Market.
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