The global plastic dielectric films market size is expected to reach USD 1.39 billion by 2025 registering a CAGR of 3.6% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by growing product demand from renewable energy system and electrical and electronics industry in the Asia Pacific (APAC). The product is widely used as an insulating material in various electrical and electronics applications.
Presence of major electrical and electronics manufacturing companies, such as Toshiba, Samsung, and Sony, in the region is also propelling the product demand. Companies from Northeast Asian countries, such as China, India, and Japan, are pushing to grow in key sectors pertaining to raw material extraction, manufacturing, and services. Since the past few years, the manufacturing industry in APAC has been attracting significant investments from leading MNCs, which is contributing to the market growth.
These films provide low thermal resistance, high-pressure resistance, minimal application pressure, resistance of hazardous substance compliance (RoHS), thereby augmenting their demand in applications, such as smartphones, tablets, smart wearables, and smart home appliance. Polypropylene (PP) is one of the prominent product type segments. PP dielectric films have properties, such as high breakdown strength, high insulation resistance, low dissipation factor, and low dielectric absorption.
These properties make them suitable for use in a wide range of applications in high voltage DC & AC systems, snubber circuits, high current DC applications, and high-frequency AC systems. Capacitors made of Polypropylene (PP) films are ideal for use in multiple ranges of temperature. On account of their unique temperature characteristics, PP capacitors are widely used as a substitute of polyester capacitors as the capacitance of the latter diminishes with decreasing temperature. However, PP and Polyethylene Terephthalate (PET) can also be used together, parallelly, in a capacitor.
Further key findings from the study suggest:
- APAC is expected to be the largest regional plastic dielectric films market during the forecast period from 2019 to 2025
- India is the fastest-growing country in the APAC region on account of the growing automotive industry
- The PET segment is likely to register the highest CAGR of over the forecast years owing to rising demand for PET in various applications
- Companies in the market have undertaken several strategic initiatives to increase their market share
- For instance, in June 2018, SABIC introduced two new gauges of UTF120 Polyetherimide (PEI) dielectric film for high temperature, professional-grade capacitor applications
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Grand View Research has segmented the global plastic dielectric films market on the basis of product, application, and region:
Plastic Dielectric Films Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polytetrafluoroethylene (Teflon) (PTFE)
- Polyethylene Naphthalate (PEN)
- Polyphenylene Sulfide (PPS) & Polyvinylidene Difluoride (PVDF)
Plastic Dielectric Films Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Electrical & Electronics
- Solar & Wind Energy System
- Automobiles
- Aircrafts
- Others
