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

LONDON–(BUSINESS WIRE)–#Polymers—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.

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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