[March 15, 2018]

Global Polyimide Films market - High Demand from Consumer Electronics Industry to Boost Growth | Technavio

Technavio market research analysts forecast the global polyimide films market to grow at a CAGR of close to 10% during the period 2018-2022, according to their latest report.

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Technavio has published a new market research report on the global polyimide films market from 2018-2022. (Graphic: Business Wire)

This market research report segments the global polyimide films market into the following applications (electrical and electronics, automotive, and aerospace) and key regions (the Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the growing consumer electronics industry as a key factor contributing to the growth of the global polyimide films market:

Growing consumer electronics industry

Polyimide films are used in flexible circuit materials, which are used in consumer electronic products such as mobile devices and computers. The demand for consumer electronics is driven by numerous factors such as the growing urban population, rise in disposable income, strong supply chain, and high Internet penetration. Consumers are buying products such as cellular phones, light-emitting diodes (LEDs), document handling systems, displays and projectors, and wearable electronic devices.

Strong economic growth and increased urbanization have led to an increase in the purchasing power of the middle-class population. In 2016, APAC contributed the highest to the global middle-class population, with India and China as the dominant countries. APAC is expected to account for more than 60% of the global middle-class population by 2030. The demand for electronics products and systems from this demographic will boost the market during the forecast period.

According to a senior analyst at Technavio for plastics, polymers, and elastomers research, "The governments of many developing countries providing exemptions to boost their manufacturing capacities. For instance, the Department of Electronics & Information Technology of India has taken steps to boost the manufacture of certain components leading to increased production capacity. Therefore, the expanding consumer electronics industry has led to an increase in demand for polyimide films."

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Global polyimide films market - segmentation analysis

Of the major applications, the electrical and electronics segment held the largest market share in 2017, accounting for nearly 30% of the market, followed by the automotive and aerospace sectors. The automotive sector is expected to witness the fastest growth of over 2% in its total market share by 2022.

APAC was the leading region for the global polyimide films market in 2017, accounting for a market share of close to 39%, followed by EMEA and the Americas. APAC is the only region which is expected to witness an increase in its market share over the forecast period while the other two regions will witness a small decline in their market share by 2022.

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