Polyimide Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• The factors driving the growth of the market studied are increasing demand from the electronics industry and accelerating usage in the aerospace industry.
• The increasing adoption of hybrid and electric vehicles is likely to act as an opportunity for the market to grow beyond the forecast period.
• Asia-Pacific dominated the market across the world, with the largest consumption from countries such as China and India.

Key Market Trends

Electronics Industry to Dominate the Market

• Polyimide film is an optimal substrate for high-temperature applications, making it widely suitable for the electric and electronics industry.
• Polyimide film finds application in various electric and electronic products, such as wires and cables, printed circuit boards, semiconductors, motors, generators, integrated circuits, speakers, tape-automated bonding, rotating machines, computers, medical technologies, heavy equipment, and recording devices.
• The electronics manufacturing market in Asia-Pacific is expected to proliferate during the upcoming years due to the presence of a large number of OEMs in the region. The companies in the region provide manufacturing and assembling services to companies in Germany, France, and the US.
• Moreover, these companies are rapidly digitalizing their business to achieve end-to-end integration of their operation. This is further encouraging the OEMs from Europe and North America to outsource their production to Asia-Pacific.
• For instance, the Indian electronics market is expected to reach USD 400 billion by 2025. India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025.
• Thus, the electronics segment is expected to dominate the market.

China to Dominate the Asia-Pacific Market

• China is the largest base for electronics production in the world. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices recorded the highest growth in the electronics segment.
• The country serves not only domestic demand for electronics but also exports electronic output to other countries and is also a leading manufacturer of PCB in the world.
• China is one of the largest manufacturers of aircraft and one of the largest markets for domestic air passengers. 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.
• Besides, the government’s long-term targets remain around 450 airports for the country by 2035.
• The Chinese automotive manufacturing industry is the largest in the world. The country also observed a production growth of 8% in the first nine months of 2021 in comparison to the same period in 2020.
• Thus, based on the aforementioned aspects, China is expected to dominate the Asia-Pacific region.

Competitive Landscape

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support