PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401809
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401809
Photosensitive Polyimide (Pspi) Market size was valued at USD 350 Million in 2022, expanding at a CAGR of 18.2% from 2023 to 2030.
Photosensitive polyimide (PSPI) is a type of dielectric material that possesses both photosensitivity and heat resistance properties. It is commonly utilized in redistribution layers (RDLs). PSPIs typically contain photo reactive groups that can undergo chemical reactions, such as cross-linking or polymerization, when exposed to ultraviolet (UV) light. Due to their exceptional thermal and chemical stabilities, as well as low dielectric constants, PSPIs are extensively employed as protective and insulating layers in semiconductor manufacturing. They are also utilized as insulating films for print wiring boards (PWBs), with their application area in the microelectronics field continuously expanding. PSPIs are particularly appealing as they simplify processing and eliminate the need for photoresist in the micro electric industry.
Photosensitive Polyimide (Pspi) Market- Market Dynamics
Growing applications in semiconductor packaging is projected to drive the growth of market
Photosensitive Polyimide is extensively utilized in the semiconductor packaging process due to its capacity to offer insulation, protection, and support to delicate electronic components. The semiconductor industry is constantly evolving with technological advancements, resulting in the creation of smaller, more powerful, and efficient electronic components. According to the Consumer News and Business Channel (CNBA), the sales rate of semiconductors in the United States has witnessed a 6.3% increase. Additionally, global semiconductor sales have experienced growth in 2023. The ongoing investments in research and development (R&D) activities, focused on enhancing semiconductor packaging technologies and materials, present new opportunities for the Photosensitive Polyimide market. However, the high cost associated with Photosensitive Polyimide may pose a challenge to the market's growth.
Photosensitive Polyimide (Pspi) Market- Key Insights
As per the analysis shared by our research analyst, the global Photosensitive Polyimide (Pspi) market is estimated to grow annually at a CAGR of around 18.2% over the forecast period (2023-2030)
Based on Type segmentation, Positive Photosensitive Polyimide was predicted to show maximum market share in the year 2022
Based on application segmentation, Printed Circuit Board was the leading type in 2022
On the basis of region, Asia Pacific was the leading revenue generator in 2022
The Global Photosensitive Polyimide (Pspi) Market is segmented on the basis of Type, Application, and Region.
The market is divided into two categories based on Type: Negative Photosensitive Polyimide and Positive Photosensitive Polyimide. The market is predominantly controlled by the Positive Photosensitive Polyimide segment. The market dominance can be attributed to the growing adoption of flexible electronics, the shrinking size of electronic components, and the requirement for a chemical change in positive photosensitive polyimide upon exposure to light, resulting in enhanced solubility in a developer solution for the exposed areas.
The market is divided into four categories based on application: Chip Packaging, Memory, Display Panel, Printed Circuit Board and Others. The market is primarily dominated by the Printed Circuit Board segment. PSPI, a crucial material, is extensively utilized in the manufacturing of flexible printed circuits (FPCs) owing to its exceptional blend of flexibility, thermal stability, and photosensitivity.
Photosensitive Polyimide (Pspi) Market- Geographical Insights
Geographically, the market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the Photosensitive Polyimide (PSPI) market is expected to be driven by the Asia Pacific region, primarily due to the increasing demand for flexible electronics. The countries in Asia Pacific are leading in technological advancements in the electronics industry. The region also experiences a significant demand for flexible displays, bendable sensors, and other flexible electronic components in smartphones, wearables, and other consumer devices. According to the China Information Technology Industry, China's electronics production volume has witnessed substantial growth, with a growth rate of 10% in 2016, which further increased to 14.5% in April 2017, marking the highest growth rate in over five years. This industry contributes to China's industrial upgrade, with its value-added output expanding by 13.9% year on year. In the forecast period, Europe is expected to be the second-largest market, driven by the growing demand for lightweight and high-strength materials.
The market for photosensitive polyimides (PSPI) provides a convenient and cost-effective solution for micro patterning polyimides. This approach significantly reduces the number of processing steps compared to the traditional method involving photolithography and subsequent etching processes. In this market, major chemical and materials companies specializing in specialty polymers and electronic materials play a crucial role. These companies strive to gain a competitive edge by focusing on innovation in materials and processes. They invest in research and development to improve the properties of PSPI, such as photosensitivity, thermal stability, and flexibility. Furthermore, companies with a well-established distribution network and strategically located manufacturing facilities may adore a competitive advantage in terms of logistics and market reach.
On February 15, 2021, the JV underwent a name change to PI Advanced Materials Co. and has subsequently experienced significant growth in its business operations due to the surging demand for the fundamental material. This increased demand can be attributed to its wide range of applications, including smartphones, semiconductors, display panels, and electric vehicles.
The scope of this report covers the market by its major segments, which include as follows: