Polyimide Films Market - Forecasts from 2023 to 2028

The global polyimide films market was valued at US$2.372 million in 2021.

The polyimide films market is expected to grow steadily during the forecast period Polyimide film is a lightweight, flexible material with exceptional heat resistance (from -269°C to 400°C) and excellent dielectric properties, making it ideal for applications requiring insulation and protection in extreme conditions. Polyimide films find applications across various industries, including aerospace, electrical & electronics, automotive, and other sectors. These end users leverage the lightweight, flexible, and heat-resistant properties of polyimide films to meet their specific needs. The polyimide films market size is primarily propelled by the increasing demand for polyimide films from major end-users.

Booming electronics drives the polyimide films market expansion.

Polyimide films are widely used in the electronics industry due to their exceptional electrical insulation properties, high thermal stability, and resistance to chemicals. These films provide crucial insulation for flexible displays, printed circuit boards, and electronic components, ensuring reliable performance and longevity. The electronics industry is experiencing significant growth due to technological advancements, and increasing consumer demand for electronic devices which is further fuelling the demand for polyimide films. According to the Ministry of Economy, Trade and Industry, in April 2022, the production of consumer electronic equipment in Japan amounted to 119,982 million yen, experiencing a notable 7.9% increase to reach 129,442 million yen in April 2023.

The growing automotive sector bolsters the polyimide films market growth.

Polyimide films are widely used in the automotive industry due to their exceptional heat resistance, electrical insulation properties, and mechanical strength. These films serve various applications in vehicles, including electrical insulation for wiring harnesses, and thermal management for engine components, gaskets, and seals. Additionally, the automotive industry is experiencing growth due to increasing consumer demand for electric vehicles which contributes to the increased adoption of polyimide films in this sector. According to the International Energy Agency, Global sales of electric cars exceeded 10 million units in 2022, and the sales are projected to witness a further 35% growth this year, reaching a remarkable 14 million units.

High aerospace manufacturing drives the polyimide films market growth.

Polyimide films are widely used in aerospace manufacturing due to their ability to possess high thermal stability, flame resistance, and mechanical strength, making them ideal for applications that require extreme temperature resistance, such as insulation for wiring, flexible circuitry, and thermal barriers. The aerospace sector is experiencing growth due to increased air travel demands, and a growing global demand for satellites and space exploration. These factors have created a favourable environment for the expansion of the polyimide films market. According to the report of the Government of Canada, in 2022, the aerospace manufacturing sector of Canada experienced significant growth, generating a substantial revenue of $22.9 billion. This represents an impressive increase of 12.3% compared to 2021.

Asia-Pacific is expected to dominate the market.

The Asia Pacific region will account for a significant share of the polyimide films market due to the growing automotive production as well as electric vehicles (EVs) applications which is driving the need for polyimide films in battery manufacturing and thermal management. Additionally, governments in the region are implementing initiatives and policies to boost the electronic industry, which is further promoting the use of polyimide films in electronic components such as flexible displays, printed circuit boards, and semiconductors. For instance, in June 2023, the Indian government announced the invitation of new applications for setting up semiconductor fabs and display fabs in India as part of the Modified Semicon India Programme. Also, according to the International Energy Agency, China is the market leader in electric vehicle sales accounting for 60% of sales of all EVs worldwide in 2022.

High initial investment restrains the polyimide films market growth.

The elevated price point of polyimide films can pose a significant challenge to their adoption, particularly in price-sensitive industries. The cost factor becomes a limiting factor for market growth as companies operating in industries that prioritize cost-effectiveness may hesitate to invest in polyimide films due to their higher price. This restraint is particularly pronounced in sectors where profit margins are tight, and cost optimization is a primary concern. For instance, in India, the average market price of the polyimide film is Rs 3,500 per kilogram, which results in budget constraints for organizations operating with limited financial resources or in regions that may opt for more cost-effective alternatives, such as traditional insulators, to meet their insulation needs.

Key Developments

• June 2023: Arkema, a leading French speciality materials producer, signed an agreement to acquire a majority stake of 54.07% in PI Advanced Materials Co., the world's largest manufacturer of polyimide film based in South Korea. The deal, valued at 1 trillion won ($765 million), marks a strategic move by Arkema to strengthen its position in the polyimide film market. By acquiring the majority stake, Arkema aims to capitalize on PI Advanced Materials' expertise and market leadership in polyimide film manufacturing, enabling the company to expand its product portfolio
• May 2022: DuPont Interconnect Solutions, along with elected officials and business leaders officially commemorate the completion of a substantial $250 million capital project. This endeavour aimed to expand the production capacity of two essential products: Kapton polyimide film and Pyralux flexible circuit materials. The investment in the Circleville manufacturing site signifies DuPont's commitment to meeting the growing demand for these materials.

Company Products

• Polyimide Film Electrical Tape 1218: 3M's Polyimide Film Electrical Tape 1218 is a highly reliable product specifically designed for its exceptional properties. This tape features a pressure-sensitive, acrylic adhesive that ensures strong bonding strength and durability. It is an ideal choice for applications requiring a cover layer material in flexible, printed circuits. With its superior adhesive properties, the Polyimide Film Electrical Tape 1218 provides reliable performance, enabling secure and long-lasting connections in electronic circuits.
• Kapton CRC: DuPont de Nemours Inc.'s Kapton CRC is an advanced product specifically designed as an electrically insulating material for high-voltage environments. This tough film offers an exceptional balance of physical, chemical, and electrical properties across a broad temperature range, particularly excelling at unusually high temperatures. Kapton CRC's unique composition enables it to maintain its integrity and insulation capabilities even under challenging conditions.

Segmentation

By Type

• HN Type
• VN Type
• FN Type

By Thickness

• Upto 2mm
• 2mm to 4mm
• Above 4mm

By End-Users

• Aerospace
• Electrical & Electronics
• Automotives
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other