The manufacturing industry in Asia has been attracting significant investments from leading MNCs which contributes to the plastic dielectric films market growth.
According to a recent study of Future Market Insights (FMI), the plastic dielectric films market is expected to record an average CAGR of over 4 per cent through 2029. Plastic dielectric films have sought extensive adoption in capacitors and integrated circuits of electronic gadgets in recent years. High-pressure resistance, hazardous substance compliance, and low thermal resistance are key attributes of plastic dielectric films driving their adoption in consumer electronics.
Polypropylene plastic dielectric films are in high demand owing to their material specific properties such as high insulation strength, low dielectric absorption, low dissipation factor, and high breakdown strength. PP plastic dielectric films have gained traction as ideal solutions for multiple ranges of temperature.
Excellent properties of plastic dielectric films make them suitable for use in a wide range of applications in AC and DC systems, and high current DC applications. Sales of DC film capacitors are expected to grow at a robust CAGR, upheld by consumer demand for Audio & Video, along with the need for innovative capacitor solutions for IoT-based devices and handled devices.
European market poised for modest growth through the next decade
Consumers in Europe look for more diverse choices in terms of quality, price, and convenience. The electronics and electrical industry in developed countries such as France, Italy, Germany, and UK is matured and is expected to witness moderate growth during the forecast period. The Europe plastic dielectric films market is expected to register a CAGR of 3.3 per cent through 2029.
The demand for plastic dielectric films for DC film capacitor applications is expected to increase in Europe, and these are expected to account for a market share of 40% in the year 2019. The rapidly growing solar market is also expected to fuel the plastic dielectric films market. Developed countries such as Spain and Italy, have been putting in commercial wind power generation, to have more than 1 GW energy generation on an average. This will continue to create strong opportunities for growth of the plastic dielectric films market.
Asia’s manufacturing industry to offer highly attractive opportunities
The manufacturing industry in Asia has been attracting significant investments from leading MNCs which contributes to the plastic dielectric films market growth. Companies from countries such as India, China, and Japan, are growing in the key sectors pertaining to manufacturing, raw material extraction, and services. The China plastic dielectric films market is expected to witness the highest growth during the forecast period, owing to the rising demand for consumer electronics as a result of improving living standards in the Asia region.
China has gained popularity as the production hub for electronics, and high-volume products in the computer, consumers, and communications segments. Major global OEMs and electronic manufacturing service providers are looking to move their production sites to alternate locations due to cost optimization and raw material supply. The electrical and electronics industry is rapidly expanding in South Asian countries such as Vietnam, Indonesia, and Malaysia due to multiple factors including low labor costs and substantial domestic demand, thereby driving the plastic dielectric films market in the region.
The South Asian plastic dielectric films market is fragmented in nature with the presence of electronic equipment and component manufacturers with medium-to-large production capacity in the market. India represents the highest market value share in the South Asia plastic dielectric films market and is expected to continue its dominance throughout the forecast period. The South Asia plastic dielectric films market represents the highest CAGR in terms of value. The South Asia plastic dielectric films market is expected to expand at a CAGR of 5.2% over the forecast period.
Key players operating in the global plastic dielectric films market include Treofan Group, Toray Plastics (America) Inc., Bollore Group, Steiner GmbH & CO. KG, DuPont Teijin Films, Mitsui Chemicals, Inc., Kopafilm Elektrofolien GmbH, Tervakoski Films Group, Birkelbach Kondensatortechnik GmbH, Shin-etsu Film Company Limited, Sungmoon Electronics Co. Ltd., Wenling Wanbao Capacitor Factory (Taizhou Yongji Electronics Co., Ltd.), PPI Adhesive Products (C.E.) S.r.o., Tricor Packaging, Arcwise Packaging, Inc., and Xpro India Limited.