Polyimide Films and Tapes Market worth $2.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 15, 2021 /PRNewswire/ -- According to the new market research report "Polyimide Films and Tapes Market by Application (Flexible Printed Circuits, Specialty Fabricated Products, Pressure-Sensitive Tapes, Motors/Generators, Wires & Cables), End-Use Industry (Electronics, Automotive), and Region – Global Forecast to 2026", published by MarketsandMarkets™, the Polyimide Films And Tapes Market is estimated to be USD 1.6 billion in 2021 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 8.5% from 2021 to 2026. Increasing demand from flexible displays and optoelectronics industries are one of the key factors driving the growth of this market.
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Flexible printed circuits is the leading application segment of the polyimide films and tapes market
Based on application, the flexible printed circuits segment is projected to grow at the highest CAGR from 2021 to 2026. Flexible printed circuits 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 as circuits have to be bent once or a few times during the package assembly or because they undergo continuous flexing as and when required. Manufacturing companies prefer polyimide films and tapes as a base material instead of Polyethylene Terephthalate (PET) and Polyethylene Naphthalate (PEN) films mainly due to their advantages, which include high processing temperature range and unrestricted solderability. Flexible printed circuits are widely used in industries, such as aerospace, electronics, and medical.
Electronics is projected to be the fastest-growing end-use industry segment of the polyimide films market
Based on end-use industry, the electronics segment is anticipated 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 aggressive chemicals. They are increasingly being 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 globally.
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Asia Pacific regional segment accounted for the largest share in the polyimide films and tapes market
The polyimide films and tapes market in the Asia Pacific region is accounted 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 rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the polyimide films and tapes market in this region.
The key players in the polyimide films and tapes market include E. I. DuPont de Nemours and Company (US), PI Advanced Material Co., Ltd. (South Korea), Ube Industries Ltd.(Japan), Taimide Tech. Inc. (Taiwan), 3M Company (US), Kaneka Corporation (Japan), Kolon Industries Inc. (South Korea), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company, Inc. (US).
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