Global Plastic Dielectric Films Market - 2021-2028
Plastic Dielectric Films Market Overview
The global plastic dielectric films market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Plastic dielectric films are commonly employed as insulators that can transmit a small amount of electricity at a high temperature. The dielectric constant, as well as the dissipation factor, are two important elements that influence a plastic film's dielectric properties. The product has a low thermal resistance and a lower application pressure, and stronger pressure resistance. The films have been widely used in integrated circuits and capacitors in a variety of electronic devices.
Plastic dielectric films are in high demand in applications such as tablets, smartphones, smart wearables, and various other home appliances. They're also increasingly being used to generate electricity from geothermal and tidal energy sources. These films have low thermal resistance, high-pressure resistance, low application pressure, and RoHS compliance, all of which increase their demand in applications including smartphones, tablets, smart wearables, and smart home appliances.
Plastic Dielectric Films Market Dynamics
Plastic dielectric films are primarily utilized as capacitors and insulators, with high-pressure resistance, low-temperature resistance, and hazardous substance compliance resistance (RoHS). These films are commonly utilized in the electrical and electronics, solar, automotive, and aircraft industries.
Plastic Dielectric Films Market to Grow Due to Growing Preference for Film Capacitors
Manufacturers in the electronic and electrical industries are primarily concerned with improving energy efficiency. Plastic film capacitors are predicted to become more popular in military and defense applications, high-voltage power transmission, oil and gas, and the medical industries as technology advances.
Plastic film capacitors consisting of polytetrafluoroethylene (PTFE), polyphylene sulfide (PPS), and polyethylene naphthalate (PEN) are believed to have self-healing properties, extending the life and durability of film capacitors. Due to the increasing importance of capacitors with the growing demand for consumer electronics worldwide, the demand for capacitors is predicted to expand rapidly in the future years. The demand for low-cost and effective film capacitors is driving the growth of the plastic dielectric films market.
Plastic dielectric films will see huge growth prospects as a result of renewable energy systems
Solar energy is becoming more popular as a sustainable energy source all around the world. As a result, market participants in plastic dielectric films have benefited from lucrative growth potential. The use of plastic dielectric films in renewable energy systems, such as solar and wind power, is becoming increasingly prevalent. The circuits used in solar and wind power systems have a lot of commonalities.
This suggests that plastic dielectric films for use in renewable energy systems will be in high demand in the near future. Growing product demand from renewable energy systems and the electrical and electronics industries in Asia-Pacific is expected to drive the market. In numerous electrical and electronics applications, the substance is widely utilized as an insulating material.
Fluctuating prices of raw materials to hinder the growth
The plastic dielectric films market size is projected to be hampered in the upcoming years by volatile raw material pricing patterns. This is due to the presence of heavy petroleum byproducts like polyethylene terephthalate and polyvinylidene difluoride in the product. Political unrest in oil-producing countries such as Iraq and Saudi Arabia has resulted in wild price swings.
Ethylene glycol, plastic polymers, and terephthalic acid are the primary raw materials used to make plastic dielectric films. Geopolitical problems and price volatility are likely to stifle overall market expansion in the coming years because the products are sourced from crude oil.
COVID-19 Impact Analysis
COVID-19 has had a big impact on a lot of companies all around the world. The COVID-19 outbreak has emerged as a barrier causing a slow down in the supply chain and availability of raw materials resulting in a slow down in the overall market. The impact of the COVID-19 epidemic was felt by a significant number of plastic dielectric films companies in numerous ways, and they are now focusing on long-term growth.
Plastic dielectric films and other chemical businesses play a critical role in countries' economic recovery. Low heat resistance, high pressure resistance, low application pressure, and RoHS compliance are all advantages of plastic dielectric films, which raise their demand in applications such as smartphones, tablets, smart wearables, and smart home appliances.
Plastic Dielectric Films Market Segment Analysis
By Product, the plastic dielectric films market is classified into PTFE, PEN, PET, PP, PPS, and PVDF.
PET segment is expected to be the dominant type during the forecast period
PET has established itself as the market leader because of its high dielectric constant, which has resulted in increased demand from the electronics industry to produce a variety of tiny capacitors. PET film capacitors are relatively inexpensive and dissipate more power than capacitors constructed from other materials.
Another important product used in the industry is PP-based films, which have excellent properties such as string breakdown strength, high insulation resistance, low dissipation factor, and other properties that make it ideal for high voltage AC and DC systems, high-frequency DC and AC systems, and high current applications. They can also be utilized in a variety of temperature ranges.
Plastic Dielectric Films Geographical Analysis
Due to booming end-user industries, including electronics, automobiles, and renewable energy, Asia-Pacific is the leading region for plastic dielectric films market demand.
Due to booming end-user industries, including electronics, automobiles, and renewable energy, Asia-Pacific is the leading region for plastic dielectric films market demand. The rise of the electronics industry in the region is being fueled by increasing digitization, FDI investments, and urbanization.
With a fast-increasing renewable energy generation industry, China dominates the industry. In addition, the regional market for plastic dielectric films is being driven by the fast-rising electronics industry in economies such as Indonesia, Vietnam, and Malaysia. The rise of the electronics industry in the region is being fueled by increasing digitization, FDI investments, and urbanization. With a fast-increasing renewable energy generation industry, China dominates the market.
The presence of large electrical and electronics manufacturing businesses in the region, such as Toshiba, Samsung, and Sony, is also fueling demand. Companies in Northeast Asian countries including China, India, and Japan are vying for market share in important industries such raw material extraction, manufacturing, and services.
Furthermore, market expansion is being fueled by favourable government efforts in Asia-Pacific and increased investments in MEA. Wind energy power generation capacity reached roughly 11% of global capacity in 2017, according to REN21, the global renewable energy policy network maintained by a lean secretariat based at the United Nations Environment Programme (UNEP), Paris, France. More than 90 countries, including Brazil, Canada, Italy, Spain, India, and U.S., are currently engaged in commercial wind power activity, with an average energy output capacity of more than 1GW.
Plastic Dielectric Films Market Competitive Landscape
A broad product portfolio has been recognized by players as an effective growth strategy, allowing the industry to remain highly competitive in the years ahead while focusing on extending their worldwide market presence. Leading electronic and electrical equipment companies are focusing on technical advancements, which is driving up demand for plastic dielectric films.
Kopaflim Elektrofolien GmbH, SABIC, Steiner GmbH & CO KG, Treofan Group, Tervakoski Film, Mitsubishi Chemical Corporation, Toray Industries, Inc., DuPont Teijin Film, Coveme spa, and Bollore Group are some of the prominent players contributing to the market's growth.
Overview: SABIC, a public business situated in Riyadh, Saudi Arabia, is one of the world's leading petrochemicals manufacturers. Saudi Aramco owns 70% of the company's shares, with the remaining 30% being publicly listed on the Saudi stock exchange. The Royal Decree founded SABIC in 1976, and its meteoric rise has been nothing short of remarkable. The company now has operations in more than 50 countries.
Product Portfolio: The Company's portfolio comprises polymers, chemicals, agri-nutrients, metals, and specialties.
Key Developments: In 2021, SABIC launched their new 5-micron ELCRES HTV150 dielectric film in 2021 for high-temperature, high-voltage, and professional-grade capacitor applications like traction inverters for hybrid, plug-in hybrid, and battery electric vehicles (xEV).
The new film, which can withstand temperatures of up to 150 degrees Celsius, outperforms existing goods in terms of temperature and voltage. The ELCRES HTV150 film can aid in the transition from traditional silicon (Si) semiconductors to next-generation, wide-band-gap technology based on silicon carbide (SiC), hence increasing inverter module efficiency.
The global plastic dielectric films market report would provide access to an approx. 55 market data table, 45 figures and 180 pages.
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