Colorless Polyimide Films Market: Current Analysis and Forecast (2022-2028)

Colorless Polyimide Films are film material that has high-temperature stability and thermo-mechanical properties, high chemical resistance, and high optical transparency. These properties are suitable for the production of electronics such as flexible displays, flexible printed circuit boards, flexible solar cells, and others. The demand for colorless polyimide films has risen dramatically because of their rising use in end-user industries such as chemical, solar, electronics, aerospace, and others.

The Colorless Polyimide Films Market is expected to grow at a rate of around 60% owing to the increasing demand for consumer electronics coupled with the growing adoption of colorless polyimide films in the healthcare sector. Major companies in the market offer colorless polyimide films for automobile applications with technologically advanced features which leads to growth in the sector. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), Passenger Vehicle Exports increased from 404,397 to 577,875 units, Commercial Vehicle Exports increased from 50,334 to 92,297 units, Three-Wheeler Exports increased from 393,001 to 499,730 units and Two Wheelers Exports increased from 3,282,786 to 4,443,018 units in April 2021 to March 2022.

Based on application, the market is segmented into flexible displays, flexible printed circuit boards, flexible solar cells, lighting equipment, and others. The flexible displays category is to witness the highest CAGR during the forecast period. This is owing to the growing demand The flexible displays for products in consumer electronics like smartphones, laptops, etc. The surging demand for light weightedness in consumer electronics and ruggedness is also fulfilled by flexible displays. Furthermore, many global players in the market are using colorless polyimide films in covering displays of various products. For instance, in March 2019, Kaneka Corporation developed "Colorless Polyimide Film", the material for the cover window of flexible organic electroluminescent (EL) displays.

On the basis of end-user, the market is categorized into electronics, solar, medical, and others. Among these, electronics are expected to grow significantly during the forecast period. This is mainly because of the advantages of the electronics product to overcome heat and provide thermal stability. Also, the surging demands for photovoltaic cells, technologically advanced circuit boards, and evolving designs in the electronics like smartphones, laptops, etc. are further accelerating the growth of the market. Thus, the electronics industry offers better growth in the colorless polyimide films market.

For a better understanding of the market adoption of the colorless polyimide films industry, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, Rest of North America), Europe (Germany, The United Kingdom, France, Spain, Italy, Rest of Europe), APAC (China, India, Japan, Rest of APAC), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing investments in renewable energy used in household and industrial applications coupled with the growing use of consumer electronics such as smartphones, watches, and others. Moreover, the wide expanse of applications along with growth in the automobile industry and aerospace sector is further expected to support the market growth. In addition, the growing research and technological advancement along with growth in innovative products and expanding use of application further accelerates the colorless polyimide films market growth in the region. Also, major players in the market are working towards technological advancements. For instance, in April 2022, SK IE Technology supplied the transparent polyimide film, which is used as the cover windows of screens, on Hewlett-Packard's (HP) foldable notebook.

Some of the major players operating in the market include: 3M; Sumitomo Chemical Co., Ltd.; SK Innovation Co., Ltd; Kolon Industries; Kaneka Corporation; NeXolve; I.S.T Corporation; Dr. Dietrich Mueller GmbH; DuPont; Taimide Tech. Inc.