Polyimide Films Market To Generate Revenue Worth $2.19 Billion by 2030

The global polyimide films market is predicted to reach $2.19 billion by 2030, growing at a CAGR of 5.6% during 2021–2030. This growth can be ascribed to the surge in demand for these films in a wide range of industries, such as automotive, aerospace, and electronics, due to their exceptional properties, including chemical resistance, thermal stability, high-tensile strength, lightweight, flexibility, durability, and high and low-temperature working capacity.

Growing Usage in Automobile Industry Drives the Demand

In 2021, the automotive category accounted for a significant revenue share in the market, and it is expected to grow at a substantial CAGR over the forecast period. This is because these films are utilized in the automotive sector for a variety of applications, including sensors, coils, wrapping switches, dashboards, ABS, and engines, to provide enhanced specifications and features while reducing their weight and size.

Furthermore, the automotive industry is expected to be driven by advancements in car technologies, as well as rising disposable income and living standards. The increased development of infrastructure, together with the large population in developing countries, such as India and China, is providing a favorable market for vehicles. Further, various new product introductions have given customers a wide range of options from which to choose. In addition, the demand for electric vehicles is increasing across the world. Thus, the growing automotive industry is driving the demand for polyimide films.

Increasing Adoption of Digital Isolators and Flexible Displays

A digital isolator is an embedded device used to transmit digital communication over an isolation barrier and separate digital signals. Due to its mechanical and thermal stability, breakdown strength, electrostatic discharge (ESD) performance, and low permittivity, polyimide is employed as the insulating material for digital isolators. These isolators are in high demand due to the rising popularity of electronic gadgets, which also presents several potentials for polyimide films. Further, polyimide films are perfect materials for insulation coatings on high-voltage cables because of their strong chemical resistance capabilities.

Additionally, the primary component of flexible screens is polyimide films. These are utilized in a range of flexible display parts, including LCD subtracts, touch-screen panels, cover windows, and OLEDs. Makers were inspired to create these films by the substantial consumer demand for flexible screens. During the forecast period, the adoption of digital isolators and flexible displays is projected to increase, which, in turn, drives the market growth.

Europe accounted for a significant revenue share in the market in 2021. This is mostly due to the surging need for improved power grids, in terms of expansion and efficiency, which has resulted in the increased demand for polyimide-based wires and cables in the region. Moreover, the automotive industry in Europe is one of the biggest in the world, and it accounts for the largest private R&D investments. The desirable properties of these films are driving their need in this industry.

Some major players operating in the polyimide films market are Saint Gobain S.A., DuPont de Nemours Inc., PI Advanced Materials Co. Ltd., 3M, Kolon Industries Inc., Kaneka Corporation, Taimide Tech Inc., Flexcon Company, Arakawa Chemicals Industries Ltd., and Anabond Limited.