PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497730
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497730
Market Overview
The colorless polyimide film market generated a value of USD 157.0 million in 2023, which will rise to USD 6,174.2 million by 2030, advancing at a CAGR of 70.1% between 2024 and 2030.
There is a steady growth in demand for flexible electronic equipment, including notebooks, tablets, and mobile phones; the production and marketing of flexible printed circuit boards and lighting equipment are on the rise.
The growing demand for their use in photovoltaic cells is also one of the major factors that are boosting the market for these materials.
More to this, renewable energy sources are in higher demand than at any time due to the high demand for energy and exhaustion of non-renewable resources.
Here, on Earth, solar power is more than adequate for the production of electricity. Consequently, solar panels are used on a broader scale across the world.
The very-famous-and-highly-demanded polyimide films for flexible solar cells are the ones that are colorless because of their high-temperature operability, high transparency, toughness, and flexibility.
Ultimately, they can resist the extreme conditions of temperature and pressure. Also, having chemical resistance, high mechanical strength, good electrical properties, flexibility, and lightweight make them a proper match for flexible solar cells.
Based on a published report that came from the International Energy Agency, solar PV energy generation hit a record high of 270 TWh in 2022, this being 26% up from 2021 reaching around nearly 1300 TWh.
Key Insights
In 2023, the electronics category led the industry because of features such as thermal stability, flexibility, and electrical insulation.
Such materials are extensively utilized in foldable smartphones, flexible screens, and curved displays for televisions.
Wearable sensing devices, such as smartwatches and fitness bracelets, are rising quickly for health monitoring.
Medical tubing made from advanced materials is an important device in drug delivery systems.
The aging worldwide population is tantamount to the increasing demand for medical devices that have tubes.
Breakthroughs in materials technology, including the use of transparent polyimide films, are increasing the list of applications for flexible displays.
The wearable electronics category is set to grow with the advent of continuous health tracking via wearable devices.
The flexible display category dominates the market with an 80% revenue share.
This dominance is driven by the increasing demand for flexible displays in consumer electronics, particularly smartphones and laptops.
With the improvements in the smartphone's display systems, such as a totally-screen display without any particles or bezels, the industry is slowly drifting towards larger-size screens that are also portable.
Durable materials should be shapeable to fit into displays and the main benefit of flexible AMOLED panels is the ability to achieve folding and rolling which is valuable.
Colorless polyimide films are widely likened to this particular type of application as a result of the durability, greater flexibility, and good optical properties of the product.
In 2023, the APAC had the largest industry share at 60%, with the region projected to witness the highest CAGR.
The development in the APAC region is propelled by reasons like growing per-capita income, economic growth, and an increasing populace, particularly in China and India.