The market for polyimide films is expected to expand at a CAGR of over 7% during the forecast period. Major factors driving the market studied is the increasing demand from the electronics industry. High processing cost of polyimide films is one of the major challenges witnessed in the polyimide films market
- Increasing adoption of hybrid and electric vehicles is likely to act as an opportunity in the future.
- Europe dominated the market across the globe with the largest consumption from countries, such as Germany and France.
Key Market Trends
Increasing Demand from the Electronics Industry
- The electronics industry is by far the largest end-user segment, accounting for more than 50% of the usage of polyimide films. This is majorly due to its wide application base in the industry, including usage in housing cell phones, computers, electrical chargers, fax machines, pagers, connectors, battery boxes, etc.
- Moreover, polyimide films offer properties that make them highly suitable for the electronics sector. These properties include lightweight and impact- and shatter-resistant qualities, temperature resistance, high service temperature, ductility, and toughness in thin sections.
- The demand for consumer electronic products is on the rise, driven by innovation, rapid urbanization, education attainments, and growing household incomes, particularly in the emerging markets of the Asia-Pacific region (especially in China and India). The smartphone and wearable segment of the industry is the booming product category.
- The electronics industry in Asia-Pacific has been growing at a rate of more than 5% over the past couple of years and is estimated to continue the growth rate for the next few years.
- Hence, with such increasing demand, investments, and production in the electrical and electronics industry, the demand for polyimide films for application in various electrical and electronic products is also expected to increase, during the forecast period.
Asia-Pacific to drive the market growth
- Europe dominated the global market share of more than 35%. But it is highly likely for the Asia-Pacific region to augment Europe in creating the market demand for polyimide films during the forecast period.
- With the growing automotive industry and the increasing demand from the electronics industry in countries, such as China, South Korea, and Japan, the usage of polyimide films is increasing in the region.
- In Asia-Pacific, China provides the major market for the polyimide films of the regional market share. Despite the decrease in the production of the automotive industry in the recent past, the significant development of the aerospace and electronics industry has resulted in the significant growth of the Chinese polyimide films industry.
- The aircraft parts and assembly manufacturing sector in the country is growing at a rapid pace, with the presence of over 200 small aircraft parts manufacturers. Major manufacturers are concentrated in Nanchang, Shanghai, Chengdu, XiŐan, Harbin, Shijiazhuang, and Shenyang. The aviation base in Zhoushan is also being developed in order to create a robust aircraft manufacturing, repair, and maintenance base to cater to a capacity of nearly 600 aircrafts every year by 2025.
- Moreover, China has the worldŐs largest electronics production base and offers tough competition to existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, tablets, and so on, have the highest growth in the market in the consumer electronics segment.
- Overall, with the consistent growth in the automotive, aerospace, and electrical and electronics industries in the country, the demand for polyimide films is expected to increase at a faster pace in the overall region, in the coming years. The large market size coupled with the huge growth of Asia-Pacific is quite instrumental in the expansion of the polyimide films market.
The polyimide films market is consolidated and the top four players accounted for almost 70% share in the overall market revenue. These companies include DuPont-Toray Co. Ltd, Kaneka Corporation, SKC Kolon PI Co. Ltd, and UBE Industries Ltd, among others.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from Electronics Industry
4.1.2 Accelerating Usage in Automotive and Aerospace Industry
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Flexible Printed Circuit
5.1.2 Specialty Fabricated Product
5.1.3 Pressure Sensitive Tape
5.1.4 Wire and Cable
5.2 End-user Industry
5.2.5 Other End-user Industries
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arakawa Chemicals Industries Ltd
6.4.2 Du Pont-Toray Co. Ltd
6.4.3 Flexcon Company Inc.
6.4.4 IST Corporation
6.4.5 Kaneka Corporation
6.4.6 Liyang Huajing Electronic Material Co. Ltd
6.4.8 Shinmax Technology Ltd
6.4.9 SKC Kolon PI Inc.
6.4.10 Suzhou Kying Industrial Materials Co. Ltd
6.4.11 Taimide Tech Inc.
6.4.12 Tianjin Hengji International Trade Co. Ltd
6.4.13 UBE Industries Ltd
6.4.14 Yunda Electronic Materials Co. Ltd
6.4.15 Zhejiang Hecheng Electric Technology Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Adoption of Hybrid and Electric Vehicles
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.