NEW YORK, July 05, 2018 (GLOBE NEWSWIRE) -- According to the market research published by P&S Market Research, the polyimide films market size is projected to reach $3.6 billion by 2023, growing at a CAGR of 10.1% during 2017-2023. Growing demand for light weight, flexible, compact and heat resistant electronics devices is major driver behind the increase in usage of operating in polyimide films in semiconductor component manufacturing in last 5 years. It is expected that major portion of the demand for operating in polyimide films will come from electronics sector during the forecast period.
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With advancement in technologies and equipment, there has been a revolutionization in devices materials and coatings. This has led to the emergence of polyimide tubing, a lightweight thermoset plastic with flexibility, and resistance to heat and chemical interaction. The potential and capabilities of polyimide tubing are also gaining popularity in the medical design market owing to the increasing need for minimally invasive surgical devices. Additionally, polyimide tubing can also be used as a thermal and electrical insulator for gas and fluid delivery. Hence, owing to the high potential and need of quality polyimide tubing, many key players operating in polyimide films market have invested in its R&D.
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Aerospace and automobile industry is continuously expanding, which is resulting in high demand of polyimide-based pressure sensitive tapes, wire & cable, and other products. This is owing to the exclusive properties of polyimide films such as high thermal resistivity & high tensile strength, solvent resistance, flammability, and electrical resistivity. Additionally, being lightweight, they are also used in insulating the wires of aircrafts as it provides significant weight savings. The sensors, gaskets, transport belts are driving the specialty fabricated products owing to their high demand in aerospace activities. Hence, the rise in the demand and need of polyimide films in the aerospace and automobile industry has attracted key players operating in polyimide films market to invest in the R&D of polyimide films.
The market is expected to be restricted by the poor resistance offered by polyimide films to hydrolysis. This is because these films absorb water when exposed to it while processing, which makes the use of polyimide films challenging in humid weather. However, continuous research and development by the polyimide films market key players with the aim to bring innovation and improvement in current polyimide films is expected to reduce the impact of this factor in near future.
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Some of the major players operating in the polyimide films market are Kaneka Corporation, E.I. Du Pont De Nemours and Company, SKCKOLONPI Inc., Saint-Gobain S.A., Taimide Tech. Inc., Arakawa Chemicals Industries Ltd., I.S.T. Corporation, Yunda Electronic Materials Co. Ltd., UBE Industries Ltd. and FLEXcon Company Inc.
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