Polyimides are a transparent, highly heat resistant class of polymers with excellent temperature stability and a wide array of uses in specific conditions. According to BlueQuark Research & Consulting, the global Polyimides market is expected to witness a significant growth rate during the forecasted period. Factors such as the increasing usage of consumer electronics like cellular phones, televisions, and 3D devices influence the growth of the global polyimide market. Apart from electronics, sectors like automobile manufacturing where polyimides are used are also driving the Polyimide industry. The usage of Polyimide in the medical industry as a cover for X-ray tubes and X-ray detectors is projected to propel the market. Furthermore, Polyimide is also used to make antennas for satellites and airplanes as it can bear high temperatures and harsh conditions making the aerospace industry a prime consumer of Polyimide. Finally, the increase in demand for renewable energy, especially solar energy, is driving the growth of the polyimide market, where it is used to manufacture flexible solar cells. However, the market growth of polyimides can be inhibited due to the increasing price behind manufacturing it, which requires a lot of investment and could hamper the market growth shortly.
Polyimides are used to manufacture cellular phones, TVs, 3D devices, push rings, cardiovascular catheters, and solar panels and also serve end-use industries like automobile, medicare, electronics, and aerospace.
The Consumer Electronics segment is the prime consumer of Polyimides globally and is expected to drive the future market. The global consumer electronics industry has been increasing worldwide due to the consistently increasing demand for cellular phones, portable computing devices, gaming systems, and other personal electronic devices. According to a report by Philips, a leading Consumer Electronics manufacturer, its global sales for quarter one stood at USD 3.8 Billion with a 9% growth rate. Polyimides which are an essential component of all the electronics in the form of Polyimide films, thus become an ever-important material for the growth of this industry. Further, the Indian Brand Equity Foundation (IBEF) estimates that the Indian Consumer Electronics market, which stood at USD 10.93 billion in 2019, is projected to double to USD 21.18 billion by 2025. Therefore the use of Polyimide in the consumer electronics industry is expected to grow and drive the overall market in the future.
Some of the key players in the global market are DuPont de Nemours , Kolon Industries Inc ., 3M Company , Kaneka Corporation , UBE Industries , among others.
The Asia Pacific region is expected to be the leader in the production of Polyimides, with most of the consumption in China and India. China is the most extensive base for electronics production in the world with electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices recorded the highest growth in the electronics segment not only satisfying its domestic need but also exporting the goods. Apart from the electronics industry, China, India, Japan, and South Korea are one of the largest manufacturers of automobiles, which have Polyimide as one of the components, thus the high demand for Polyimide in the region. As air travel is gaining prominence in countries like China and India, the aerospace industry is also projected to drive the polyamide market. According to a report published in the Global Times, China launched 89 spacecraft in 2020, thus making it one of the important countries in space and adding to the polyimide consumption in the country. As more than 60% of the world's population resides in the Asia-Pacific region, there is an increasing need for healthcare, whether in X-Ray machines or cardiovascular tubes, making the sector an essential market for the polyimide industry. Since polyimides are also used to make flexible solar panels, and due to the increasing demand for solar energy in countries like China and India, the Polyimide market is expected to grow in the region. Factors like these have made Asia Pacific region an essential scope for the global polyimide market.
On February 11, 2021, DuPont announced its USD 220 Million expansion project in Ohio for enhanced production of Polyimide to be used in consumer electronics, telecom, high-performing industrial, and defense market segments.
In November 2020, DuPont made a new Kapton Polyimide Film to address the impact of faster voltage rise on automobile motor insulation.
In June 2019, DuPont provided a Polyimide Antenna for the satellite R3D2 , launched into space and to orbit in the lower earth orbit.
Global Polyimides Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Polyimides market by segmenting based on the Application (Circuit, Wires and Cables, Motor-Ray Machines, Others), End-User Industry (Electronics, Automobile, Aerospace, Medical Equipment, Renewable Energy), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trend, market analysis, market share, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.