Increasing Global Demand For Plastic Dielectric Films Market With Rising CAGR Forecast Till 2025|Grand View Research, Inc.



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.
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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
Polyethylene Terephthalate (PET) is likely to be the largest product segment in the coming years. A substantial portion of the revenue is expected to be generated through this segment. Plastic dielectric films are widely used in renewable energy systems, such as solar, wind, geothermal, and tidal energy, as they are lightweight and possess properties like refractory operating temperature, compact size, etc.
Rapidly growing solar market owing to increasing capacities is also expected to drive the market over the forecast period. Furthermore, favorable government initiatives in APAC and increasing investments in MEA are fueling the market growth. According to REN21, the global renewable energy policy network managed by lean secretariat based at United Nations Environment Programme (UNEP), Paris, France, the capacity of wind energy power generation reached around 11% of the global capacity and stood at 539 GW in 2017.
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More than 90 countries including Brazil, Canada, Italy, Spain, India, and U.S. have been operating in commercial wind power activity and have more than 1GW energy generation on an average, at present. Strong growth in some of the largest markets, such as Germany, China, U.S., U.K., and India, is prominently driven by the significant changes in policies and regulations. However, fluctuating prices of raw materials are anticipated to have a negative impact on the global market.
Grand View Research has segmented the global plastic dielectric films market on the basis of product, application:
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
Ethylene glycol, terephthalic acid, and plastic polymer resins, which are derive from crude oil, are the major raw materials used in the manufacturing of plastic dielectric films. Fluctuation in the prices of crude oil owing to various demand and supply aspects, natural disasters, and seasonal variations, has an impact on all its by-products, such as polyethylene terephthalate, polyvinylidene difluoride, etc. Political instability in oil-producing nations, such as Iraq and Saudi Arabia, has also resulted in extreme price fluctuations.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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