Statistics Canada states that the household disposable income of the country increased from $ 1,272,838,000,000 in 2019 to $1,399,546,000,000 in 2020. Moreover, the OECD estimates that the average household net adjusted disposable income per capita of Switzerland stands at $37,466 every year, which is greater than the OECD average of $33,604 a year. Furthermore, the National Bureau of Statistics of the People's Republic of China reveals that the per capita disposable income of the nation stood at $5,523 in 2021, which registered an increment of 9.1% year-on-year in nominal terms.
The surge in the disposable income of people in developed and developing countries has resulted in the large-scale adoption of consumer electronics worldwide. Owing to this reason, the polyimide film market will exhibit significant growth in the coming years. The surging use of PI films in the automotive and electronics industries can be credited to the high thermal stability, lightweight, water absorption, excellent durability, and damp-proof usage of such films. Due to such advantageous properties, PI films are used in the production of pressure-sensitive tapes, flexible printed circuits, and wires.
Additionally, the rising vehicle sales and ongoing technological advancements in the automobile sector will also amplify the use of PI films in the foreseeable future. The OICA states that vehicle sales in Europe, North America, Africa, Central and South America, Asia/Oceania/Middle East, and Russia, Turkey and other Europe grew from 6,016,238 units to 7,769,807 units, 8,827,242 units to 11,521,877 units, 369,571 units to 555,988 units, 1,209,843 units to 1,772,866 units, 16,876,658 units to 21,372,188 units, and 1,022,148 units to 1,409,124 units, respectively, from January–June 2020 to January–June 2021.
In the recent past, the FPC category accounted for the largest share in the polyimide film market, within the application segment. The dominance of this category can be owed to the increasing use of PI films in the production of FPCs, as they offer greater thermal resistance than epoxy resins, polycarbonates, and polyurethanes. In contemporary times, PI films are being increasingly used in the production of lightweight and compact FPC assemblies.
Electronics, medical, aerospace, automotive, mining and labelling companies use PI films manufactured by Arakawa Chemicals Industries Ltd., E.I. Du Pont De Nemours and Company, FLEXcon Company Inc., I.S.T. Corporation, Kaneka Corporation, SKCKOLONPI Inc., Saint-Gobain S.A., Taimide Tech. Inc., UBE Industries Ltd., and Yunda Electronic Materials Co. The high-volume usage of PI films by such companies can be credited to the burgeoning demand for improved devices and coating materials from end users.
Thus, the escalating use of consumer electronics and rising automobile sales will facilitate the adoption of PI films globally.
Read More: https://www.psmarketresearch.com/market-analysis/polyimide-film-market
No comments:
Post a Comment