According to the research report titled ‘Global Polyimide Films and Tapes Market Size study, by Application (Flexible Printed Circuits, Specialty Fabricated Products, Pressure Sensitive Tapes, Wires & Cables and Motors/Generators), by End-Use Industry (Electronics, Automotive, Aerospace, Labeling, Solar and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global polyimide films and tapes market was worth USD 1.3 billion in 2019 and is projected to record a 7.9% CAGR to be remunerated at USD 2.4 billion by the year 2027.
 

Increasing sales of consumer electronic products like laptops, mobile phones, etc., along with mounting demand from electronics and automotive verticals are the key factors propelling global polyimide films and tapes market growth.
 

According to Statista, worldwide smart phone penetration rate was 33.5% in 2016, which surged to 44.9% in 2020. Furthermore, ownership of a desktop or laptop computers among adults in the United States was recorded to be 74% in 2019, up from 73% in 2018.
 

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For those unversed, polyimide films have beneficial electrical, thermal, physical, and chemical properties over a wide temperature spectrum and can be used for electrical insulation applications. Polyimide film tapes comprise a thin backing that resists abrasion, tears, and ageing, as well as have the ability to withstand high-temperature powder coating and anodizing operations.
 

Widespread usage of polyimide films and tapes for manufacturing printed circuit boards (PCB), such as those used in watches, tablets, smartphones, panel boards, and digital cameras is further impelling the market share.
 

On the downside, hefty manufacturing cost of polyimide films is likely to hamper the industry remuneration over the study period.
 

Based on application spectrum, worldwide polyimide films and tapes market is split into motors/generators, wires & cables, pressure sensitive tapes, specialty fabricated products, and flexible printed circuits. With respect to end use scope, the industry is bifurcated into solar, labeling, aerospace, automotive, electronics, and others.
 

Geographically, Asia Pacific presently holds major portion of global polyimide films and tapes industry, creditable to growing acceptance of new technology, increasing household incomes, and price deflation particularly in developing economies of the region.
 

Top organizations in global polyimide films and tapes market sphere are PI Advanced Materials Co. Ltd., Kaneka Corporation, Mitsubishi Gas Chemical Company Inc., Ube Industries Ltd., Nitto Denko Corporation, Toray Industries Inc., 3M Company, Saint-Gobain, Taimide Tech Inc., and E.I. Du Pont De Nemours & Company.