Colorless Polyimide Films Market: Current Analysis and Forecast (2022-2028)
Emphasis on Application (Flexible Displays, Flexible Printed Circuit Boards, Flexible Solar Cells, Lighting Equipment, and Others); End-user (Electronics, Solar, Medical, and Others); and Region/Country
Global Colorless Polyimide Films Market is expected to grow at a significant rate of around 60% during the forecast period. Colorless Polyimide Films are One of the polymers with the highest heat resistance. Because it combines the benefits of conventional aromatic polyimide (PI) films and common polymer optical films, it has found widespread use in a variety of industries, including microelectronics and photoelectric fabrications. Also, colorless polyimide films not only resemble ultra-thin glass in terms of optical transmission, but they are also as robust as metal foils. 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. Thus, the growing focus and investment of key stakeholders in the research and development of technologically advanced Colorless Polyimide Films is further expected to support market growth.
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. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, flexible displays category is to witness the highest CAGR during the forecast period”
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 lightness 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. “Amongst end-user, electronics are expected to grow significantly during the forecast period”
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.
“APAC to grow significantly in the market”
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Colorless Polyimide Films Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global colorless polyimide films market were the three major steps undertaken to create and analyze the adoption of colorless polyimide films in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global colorless polyimide films market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the colorless polyimide films market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the colorless polyimide films market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the colorless polyimide films market. Further, we conducted factor analysis using dependent and independent variables such as various application and end-user of colorless polyimide films. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the colorless polyimide films market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global colorless polyimide films market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the colorless polyimide films market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global colorless polyimide films market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global colorless polyimide films market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application and end-user in the global colorless polyimide films market.
The main objective of the Global Colorless Polyimide Films Market Study
The current & future market trends of the global colorless polyimide films market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the colorless polyimide films market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application and end-user.
- Define and analysis of the regulatory framework for the colorless polyimide films
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the colorless polyimide films market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the colorless polyimide films market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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