POLYIMIDE FILMS MARKET ANALYSIS

Market Challenges And Opportunities

Global Polyimide Films Market: Drivers

• Rising demand from the electronic industry: The growing demand from the electronic industry is primarily fueling the growth of the global polyimide films market. Polyimide films are widely used for flexible printed circuits. Flexible printed circuits offer high-temperature resistance and lightweight properties. These products are used in a wide variety of applications such as digital cameras, electronic displays, and portable computers.
• Increasing demand for the aerospace industry: Increasing applications in the aerospace industry are again projected to foster the global polyimide films market growth. The growing delivery of commercial aircraft is propelling the growth of the market. According to Boeing Commercial Market Outlook 2020-2039, 43,110 aircraft are expected to be delivered during 2020-2039 globally. Out of this, 2,430 units are regional flight deliveries, 32,270 units are single aisle, 7,480 units are wide-body aircraft, and 930 units are freighter deliveries.

Global Polyimide Films Market: Restraints

• Low production of vehicles: The automotive industry is experiencing a decrease in vehicle production, which is likely to impede the expansion of the polyimide film market. High maintenance of costs are likely to deter companies from investing in the market. This is expected to impede the growth of the polyimide film market in the near future.
• Counterbalance: Polyimide films are used in door and tailgate handles, exterior mirrors, front-end grilles, fuel caps and lids, and wheel covers and trims of automobiles in the automotive industry. Steel, aluminum, rubber, and plastic are four commonly used commodities found in cars. The maintenance cost of the heavy equipment needed to cast the metals for the automotive industry needs to be made economical, so that the automotive industry’s production of vehicles does not get impacted.

Global Polyimide Films Market: Opportunity

• Rapid adoption of hybrid and electric vehicles: The growing adoption of hybrid and electric vehicles is projected to provide promising market growth opportunities for key players over the forecast period. According to Electric Vehicle (EV) volumes by 2030, the global electric vehicle stock (excluding two- and three-wheelers) may reach nearly 140 million vehicles, accounting for 7% of the global vehicle fleet. It is projected that 30% of all vehicles, except two-wheelers, may be electric by 2030.
• Rising demand for flexible printed circuits: The increasing demand for flexible printed circuits, particularly in the automotive industry, is expected to present lucrative market growth opportunities. The market is also expected to benefit from the increased use of electronic gadgets and healthcare wearable devices.