Plastic Dielectric Films Market Size Worth Around
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Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Plastic Dielectric Films Market (By Product: Polypropylene (PP), Polyethylene Naphthalate (PEN), Polyethylene Terephthalate (PET), Polytetrafluoroethylene (Teflon) (PTFE), Polyphenylene Sulfide (PPS), Polyvinylidene Difluoride (PVDF); By Application: Automobiles, Electrical & Electronics, Aircrafts, Solar & Wind Energy System, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, April 04, 2019 (GLOBE NEWSWIRE) -- The global plastic dielectric films market size is anticipated to around USD 1.45 billion by 2026, this market is anticipated to grow with 3.8% CAGR during the forecast time period. The increase in number of favourable government regulations rising investments from various developing countries are the major factors boosting the growth of the global plastic dielectric films market.
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The plastic dielectric films market is projected to be driven by rising product demand from renewable energy and electronics industry in the Asia Pacific region. The product is extensively used as an shielding material in several electronics applications. Existence of main electrical and electronics manufacturers such as Sony, Toshiba, and Samsung, in the Asia Pacific region is expected to drive the demand for plastic dielectric films. Manufacturers in developing countries such as India and China are pushing to grow in main sectors relating to the raw material extraction, and manufacturing. From past few years, the manufacturing industry is gaining significant investments from leading players that are contributing to the growth of plastic dielectric films market. These plastic dielectric films offer low thermal resistance, minimal application pressure and high-pressure resistance, thus expanding its demand in various applications, such as smart wearables, tablets, smartphones, and other smart home appliances. Polypropylene (PP) is one of the leading product that are most widely used in end use industries. Polypropylene dielectric films have various properties that include high breakdown strength, low dissipation factor, and high insulation resistance etc. These properties make them appropriate for usage in various applications in high voltage DC & AC systems, high current DC applications, and high-frequency AC systems. The Capacitors made from Polypropylene (PP) films are perfect for usage in several ranges of temperature. As it is used for various temperature, PP capacitors are extensively used as an alternative instead of polyester capacitors as the capacitance of the latter reduces with declining temperature. Therefore, the rise in usage of plastic dielectric films for various application in electrical and electronics industry is creating several opportunities for manufacturers in the global market.
Electrical and electronics industry is expected to dominate the global plastic dielectric films market with major share and is anticipated to witness growing trend in the upcoming years. This growth is attributed to the key industry manufacturers that are focusing on continuous product development in order to gain major market share of the global plastic dielectric films market. For instance, in June 2018, SABIC launched two gauges of UTF120 Polyetherimide (PEI) dielectric film mainly for high temperature and professional-grade capacitor applications.
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The global plastic dielectric films market is segmented into product, application, and region. On the basis of product, the global plastic dielectric films market is segmented into polypropylene (PP), polyethylene naphthalate (PEN), polyethylene terephthalate (PET), polytetrafluoroethylene (Teflon) (PTFE), polyphenylene sulfide (PPS), and polyvinylidene difluoride (PVDF). On the basis of application, the global plastic dielectric films market is segmented into automobiles, electrical & electronics, aircrafts, solar & wind energy system, and others. On the basis of the region, the global plastic dielectric films market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Asia Pacific region is expected to hold a major share of the global plastic dielectric films market followed by North America and Europe region. The dominance in Asia Pacific region is attributed to rise in demand for plastic dielectric films from electrical and electronics industry where it is used as an insulator in various electronic devices. This factor is predicted to increase the acceptance of plastic dielectric films, thus boosting the growth of plastic dielectric films market. The market in Latin America and MEA region is projected to grow significantly during the forecast period.
The prominent players operating in the global plastic dielectric films market are KOPAFLIM, Coveme spa, Bolloré Group, SABIC, Elecktrofolien GmbH, and Indorma Ventures Public Company Limited, etc. The key plastic dielectric films manufacturers shift their focus towards manufacturing effective and low-cost products and are focusing on strategic initiatives such as partnerships and product launch strategy in order to expand their market position as well as strengthen their foothold in the global plastic dielectric films market. These factors are projected to offer enormous growth opportunities for the key industry players in the global plastic dielectric films market.
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