CHICAGO, Oct. 20, 2020 /PRNewswire/ -- According to the new market research report "Polyimide Films and Tapes Market by Application (Flexible Printed Circuits, Specialty Fabricated Products, Pressure Sensitive Tapes, Motors/Generators, Wires/Cables), End-Use Industry - Global Forecast to 2025", published by MarketsandMarkets, the Polyimide Films and Tapes Market is estimated to be USD 1.4 billion in 2020 and is projected to reach USD 2.1 billion by 2025, at a CAGR of 7.9% from 2020 to 2025.
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Increased demand from the electronics industry, the growing automotive industry, and superior thermal & mechanical properties of polyimide films in comparison to other polymers are the key factors driving the growth of this market.
Flexible printed circuit is the leading application segment of the Polyimide Films and Tapes market
Based on application, the flexible printed circuits segment is projected to grow at the highest CAGR from 2020 to 2025. Flexible printed circuits are widely used in automotive and electronics industries. Polyimide films and tapes are also the most preferred insulating material due to their low dielectric constant.
Electronics is projected to be fastest-growing end-use industry segment of the Polyimide Films Market
Based on end-use industry, the electronics segment is anticipated to grow at the highest CAGR from 2020 to 2025. Polyimide films and tapes provide excellent electrical insulation properties under harsh conditions, such as high-temperature ranges and exposure to aggressive chemicals. They are increasingly being used by component manufacturers and equipment designers due to their design flexibility. As a result, the electronics industry is the largest consumer of polyimide films and tapes globally.
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Asia Pacific is projected to be the fastest-growing regional segment of the polyimide films and tapes market
The polyimide films and tapes market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are key countries contributing to the high demand for polyimide films in this region. Innovation, price deflation, and rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the polyimide films and tapes market in this region.
Some of the key players in the market include E. I. du Pont de Nemours and Company (US), PI Advanced Materials Co., Ltd. (South Korea), Toray Industries Inc. (Japan), Kaneka Corporation (Japan), Ube Industries (Japan), Taimide Tech. Inc. (Taiwan), Arakawa Chemicals Industries Inc. (Japan), Shinmax Technology Ltd. (Taiwan), and FLEXcon Company, Inc. (US).
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