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Polyimide Films Market Size Worth $3.12 Billion by 2025
August 17, 2017 | PRNewswireEstimated reading time: 1 minute
The global polyimide films market is anticipated to reach USD 3.12 billion by 2025, according to a new report by Grand View Research, Inc. Revolutionary advancements in the aerospace and automobile industry with regards to high-end quality products is expected to drive the growth of this market.
The flexible printed circuit (FPC) emerged as the largest and fastest-growing application in the global polyimide films market. They are used in the manufacturing of flexible printed circuit board in ink-jet cartridges, printers & scanners, mobile phones, pagers, camcorders, and military & avionics systems.
Polyimide film has many applications in electronics, automotive, aerospace, and labeling & labels industry. Many new product launches have enabled consumers to pick their choice of product from a wide range of options. The widening of product distribution channels has made these products readily available to the consumer.
Further key findings from the report suggest:
- The global polyimide films market was estimated at USD 1,492.3 million in 2016 and is projected to grow at a growth rate of 8.6% from 2017 to 2025
- The flexible circuit board sector occupied the largest market share in 2016 on account of its widespread use in ink-jet cartridges, printers & scanners, mobile phones, pagers, camcorders, and military & avionics systems
- FCB has many automotive applications ranging from dashboard to engine management, and ABS control systems
- Wire & cables are used in various application where high tensile strength, solvent resistance, flammability and electrical resistivity is required
- Electronics end-use segment is growing with the fastest growth rate owing to strong demand for consumer electronics and increase in electrical components in automobile
- The aerospace segment accounted for 26.1% of the global revenue and is projected to witness the second highest CAGR over the forecast period
- Growing disposable income and investment in innovative devices is anticipated to boost the demand in the electronics segment
- Increasing investment from government & private institutions in the automotive and aerospace & defense industry is projected to contribute to the demand over the coming years
- Key players include E. I. Du Pont De Nemours and Company, Saint-Gobain, Von Roll Holding AG, Kaneka Corporation and Arakawa Chemicals Industries
- Research & development activities, new product launches, acquisition and mergers and technological collaborations are some of the strategic initiatives taken up by leading companies
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