Plastic Dielectric Films Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Plastic Dielectric Films Market Size accounted for USD 1.1 Billion in 2021 and is projected to occupy a market size of USD 1.6 Billion by 2030 growing at a CAGR of 4.0% from 2022 to 2030.

Plastic film capacitors have a high level of stability, a long shelf life, a low equivalent series resistance, a low self-inductance, and an excellent ability to absorb power surges. The dielectric material used in a film capacitor greatly influences the component's properties. The dielectric constant, dielectric strength, dissipation factor, maximum application temperature, volume resistivity, and dielectric absorption are some of the key properties of a dielectric material that determine the performance of a capacitor. The plastic dielectric films market is driven by an increase in demand from electronics industry for various applications.

Plastic Dielectric Films Market Report Statistics

• Global plastic dielectric films market revenue is projected to reach USD 1.6 Billion by 2030 with a CAGR of 4.0% from 2022 to 2030
• Asia-Pacific plastic dielectric films market share generated over 36% shares in 2021
• According to the India Cellular Electronics Association (ICEA) statistics, India is estimated to reach USD 3 Billion in sustainable electronics manufacturing & exports by 2026
• North America plastic dielectric films market growth will record noteworthy CAGR of over 4.5% from 2022 to 2030
• Based on product, polyethylene terephthalate (PET) recorded 41% of the overall market share in 2021
• Among application, electrical & electronics sub-segment accounted for USD 358.4 million in 2021
• Rising adoption of renewable energy is a popular plastic dielectric films market trend that fuels the industry demand

Global Plastic Dielectric Films Market Dynamics

Market Drivers

• Growing demand in the electronic sector
• Increasing application of PET dielectric films
• Expansion owing to the renewable energy systems

Market Restraints

• Fluctuation in crude oil prices
• Dependability on APAC countries

Market Opportunities

• Rapidly surging solar industry
• Increasing adoption of these films in the automotive industry

Plastic Dielectric Films Market Report Coverage

Plastic Dielectric Films Market Growth Factors

The rapidly growing solar market owing to the growing capacities is projected to boost the growth of plastic dielectric films market over the forecast period. Moreover, the favorable government initiatives and rising investments from various developing countries are fuelling the growth of plastic dielectric films market. Also, the higher adoption of plastic dielectric films in electrical and electronics industry is creating several opportunities for the key manufacturers in the global plastic dielectric films market. Additionally, the stringent government policies for the manufacturers in order to manufacture highly efficient electronic devices will boost the growth of plastic dielectric films market.

Plastic Dielectric Films Market Insights

Increasing demand from renewable energy systems is possibly driving the growth of plastic dielectric films market. These plastic dielectric films are mostly used as insulators, which own the capability to communicate a small quantity of electrical energy at high temperatures. Dielectric constant and dissipation factor are the major factors that determine the properties of a dielectric plastic film. Plastic dielectric films are extensively used in renewable energy systems that include solar, geothermal, tidal energy, and wind etc. as these plastic dielectric films are lightweight and compact in size.

Plastic Dielectric Films Market Segmentation

The global plastic dielectric films market is segmented based on product, application, and geography.

Plastic Dielectric Films Market By Product

• Polypropylene (PP)
• Polyethylene Naphthalate (PEN)
• Polyethylene Terephthalate (PET)
• Polytetrafluoroethylene (Teflon) (PTFE)
• Polyphenylene Sulfide (PPS)
• Polyvinylidene Difluoride (PVDF)

According to our plastic dielectric films industry analysis, the polyethylene terephthalate (PET) sub-segment held over 41% of the market share in 2021 and is likely to continue this trend in the forthcoming years. The product is in high demand, primarily in the electrical and electronics sectors, because it provides excellent thermal stability, dielectric strength, low shrinkage, cut-through resistance, excellent moisture resistance, high-temperature durability, and so on. Polypropylene (PP) is expected to become a major product segment for the plastic dielectric films industry by 2030, owing to benefits such as low dissipation factors, high insulation resistance, and low dielectric absorption.

Plastic Dielectric Films Market By Application

• Automobiles
• Electrical & Electronics
• Aircrafts
• Solar & Wind Energy System
• Others

According to our plastic dielectric films market forecast, electrical & electronics application is likely to hold maximum share from 2022 to 2030. Based on the application, the global plastic dielectric films market can majorly be segmented into four sub-segments, which are solar & wind energy systems, automobiles, electrical & electronics, aircrafts, and others. The electrical & electronics sub-segment is expected to dominate the global plastic dielectric films market owing to the augmented demand from electrical & electronics industry that will give rise to the adoption of plastic dielectric films, thus driving the growth of the application segment.

Plastic Dielectric Films Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Plastic Dielectric Films Market Regional Analysis

The Asia-Pacific region is expected to dominate the global plastic dielectric films market. The dominance of plastic dielectric films market in Asia-Pacific region is due to the increase in demand from various end use industries such as solar & wind energy, automobile, and electronics. The plastic dielectric films market in Asia-Pacific region is mainly driven by developing countries such as Indonesia, China, Vietnam and other countries. China holds the major share among them due to the rapidly expanding electronics industry.

Plastic Dielectric Films Market Players

The major players associated with the plastic dielectric films market are DuPont Teijin Film, Kopafilm Elektrofolien GmbH, Coveme spa, Bolloré Group, SABIC, Indorma Ventures Public Company Limited, SMEC Limited, and Steiner Electric Company.

The key players in the plastic dielectric films market is focused on expanding their geographical presence by taking various strategic initiatives such as partnerships, collaborations, and acquisitions. Moreover, the key manufacturers in the plastic dielectric films market are investing heavily on research and development activities in order to expand their product portfolio and increase their customer base in the developing regions.