Colorless Polyimide Films Market Trends
Growth Drivers
- Polyimide Films' Outstanding Qualities Contribute to Market Growth- The supremacy is linked to polyimide films' remarkable properties, which make them the preferred material in a variety of end-user industries. Polyimide films' outstanding qualities are largely responsible for their popularity in a variety of end-use sectors, including electronics and automobiles. Polyimide sheets are often used as insulating material in flexible printed circuits due to their ability to reduce the size and improve the performance of electrical devices. Volume in the laptop market is anticipated to reach 202.40 million units by 2028 across the globe. In 2024, the laptop market is predicted to increase by 1.1% in terms of volume. In 2023, the average volume per person in the Laptops market is estimated to be 0.02 pieces.
- Polyimide Films' Outstanding Properties Aid Market Expansion- Polyimides are colorless, optically transparent, chemically resistant, and have excellent thermal shock properties. These features enable the development of flexible electronic boards, adaptable displays, and camera equipment. Fabrication temperatures can approach 300°C; at these high temperatures, typical aromatic polyimides tend to break down or change color. As a result, it is expected that demand for colorless polyimides would increase as good working experience becomes more trustworthy.
- Increasing Applications in Solar Cells- Colorless polyimide films are used in the production of lightweight solar panels such as rooftop solar PV that help in generating solar energy. For instance, solar PV generates 4.5 % of the world’s electricity generation, as per the International Energy Agency.
Challenges
- Achieving Product Chemistry and Consistency- Because of their great heat and chemical resistance, exceptional mechanical qualities, and good dielectric properties, colorless polyimide films have piqued the interest of the optoelectronics sector. However, striking an equilibrium between high-temperature stability and good optical transparency is one of the most difficult parts of producing these films. As a result, typical polyimide film fabrication procedures are not suitable for producing the colorless form. This poses a significant challenge to the colorless polyimide films market.
- High Manufacturing Cost
- Limited Availability of Raw Materials, Such as Monomers.
Colorless Polyimide Films Market: Key Insights
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
63.3% |
|
Base Year Market Size (2024) |
USD 194.65 million |
|
Forecast Year Market Size (2037) |
USD 114.3 billion |
|
Regional Scope |
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