Global Polyimide (PI) Market Size, Share & Trends Analysis Report, By Type, By Application, By Region Forecasts, 2023 - 2030

Global Polyimide (PI) Market Size, Share & Trends Analysis Report, By Type, By Application, By Region Forecasts, 2023 - 2030

Global Polyimide (PI) Market was valued at US $ 8.2 Billion in 2022 and is expected to reach US $ 13.6 Billion by 2030 growing at a CAGR of 6.5% during the forecast period 2023 – 2030.

Polyimides are a type of high-tech synthetic polymers that are well-known for their remarkable qualities, which include superior mechanical strength, unmatched thermal stability, and exceptional electrical insulating capabilities. These adaptable materials have made a substantial impact in a variety of industries, including electronics, healthcare, automotive, and aerospace. This is largely due to their distinct molecular structure, which confers upon them a range of very desirable properties. One of the most notable characteristics of polyimides is their remarkable thermal resistance, which enables them to tolerate high temperatures. Even when exposed to temperature extremes that most other polymers cannot withstand, these polymers hold firm and maintain their mechanical and electrical prowess. Their remarkable ability to withstand heat makes them materials of choice in applications where thermal resistance is critical, as demonstrated by their use in engine parts and thermal shielding among other aerospace components.

Weight reduction is a key component of improving overall operational performance and fuel efficiency, and the aerospace industry places a high value on it. The appeal of polyimides is their capacity to provide the necessary strength and durability without adding undue weight to the parts of aeroplanes and spacecraft. Because of this special quality, polyimides are the preferred material for creating extremely robust yet lightweight aerospace solutions. Furthermore, polyimides provide good thermal insulation, which is essential for protecting sensitive equipment and maintaining the integrity and operation of aeronautical systems. The need for polyimides is expected to rise as the aerospace industry continues its trajectory of expansion and change, highlighting their critical position in this fast-paced industry. For example, the Indian aircraft industry's advanced materials market was estimated by Statista to be worth 310 million US dollars in 2021. According to projections, this market was expected to increase rapidly, with an estimated value of 550 million U.S. dollars by 2028. These advanced materials include a variety of materials, including performance alloys, polyamide advanced aluminium alloys, composites, and ceramics. In the aircraft industry, these materials are used as lightweight substitutes for traditional steel and aluminium components.

“Polyimide Film segment, by type, to be dominating market from 2023 to 2030.”

The market leadership of polyimide films can be attributed to its numerous uses in a variety of industries, such as electronics, aerospace, and automotive. These films, which are well-known for their outstanding thermal stability and electrical insulation, are essential parts of electronic gadgets, heat-resistant tapes, and flexible printed circuit boards. Their indispensable nature in tough conditions is further demonstrated by their resistance to chemicals and high temperatures.

On the other hand, the Polyimide market's fastest-growing segment is clearly Polyimide foam. Its remarkable thermal insulating qualities, which make it very desirable in sectors where heat resistance and temperature control are critical, are the driving force behind this expansion. Polyimide foam is a versatile material that finds use in the construction, automotive, and aerospace industries. Its lightweight, energy-efficient, and thermally insulating properties meet the growing needs of an industrial environment that is changing.

“Electrical industry segment, by application, to be dominating market from 2023 to 2030.”

The market for polyimides is characterised by the electric and electronic subsegment leading the way due to its wide range of applications. Due to their exceptional electrical insulation qualities, polyimides are widely used in electronic components such as high-temperature electrical connectors, insulating materials, and flexible printed circuit boards (FPCBs). In the dynamic electronics sector, where miniaturisation, robustness, and thermal stability are essential, polyimides play a key role in facilitating the creation of small, high-performing devices.

“Asia Pacific to be largest region in Polyimide (PI) market.”

Because of its vibrant electronics and automotive industries, as well as its dynamic industrial landscape, the Asia-Pacific (APAC) region dominates the polyimide market. Significant demand for polyimides is driven by large manufacturing behemoths in nations like China, Japan, South Korea, and Taiwan, which use them in products like flexible circuit boards and electronic components. Furthermore, Polyimides is a key component of the expanding automotive sector in Asia-Pacific, especially in China and Japan, for parts like electrical insulation and gaskets. The usage of Polyimides across multiple sectors is further supported by the region's growing industrialization, urbanisation, and vigorous research and innovation, solidifying APAC's position as a market leader.

Polyimide (PI) Competitive Landscape

The competitive landscape of the Polyimide (PI) market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Polyimide (PI) technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Polyimide (PI) market is highly competitive, with numerous companies vying for market share. Prominent companies in the Polyimide (PI) Market include:

Major Players:

Siemens Healthineers AG (Germany), Unlearn AI (U.S.), Dassault Systems (France), Virtonomy GmbH (Germany), Microsoft Corporation, (U.S.), PrediSurge (France), Koninklijke Philips N.V. (The Netherlands), ThoughtWire (Canada), Faststream Technologies (U.S.), Twin Health LTD. (U.S.), Q Bio, Inc. (U.S.), QiO Technologies (U.K.), IBM Corporation (U.S.), Atos SE (France), NVIDIA Corporation (U.S.), Predictiv Care, Inc. (U.S.), GE Healthcare (U.S.), Verto Health (Canada), NUREA (France), Rescale, Inc. (U.S.), ANSYS, Inc. (U.S.)

Recent Developments:

To increase its production capacity, PI Advanced Materials Co. Ltd. invested a substantial KRW 80 billion in September 2022. With this investment, the company aimed to increase yearly production by an astonishing 750 tons by extending the fourth production line at its Gumi factory in Korea.

In November 2020, Kaneka Corporation introduced a polyimide film known as Pixeo IB, which is extremely heat-resistant, marking a notable milestone. This cutting-edge film is a calculated reaction to the rapidly changing demands of technology, having been created especially for use in the rigorous 5G millimeter wave zones.

Taimide Technology Inc. accomplished a significant milestone in October 2019 with the complete completion of its second-phase polyimide film production project's construction. This development was intended to match the corporation with the rapidly changing technical landscape by meeting the growing demands of applications in the fields of flexible displays and 5G technology.