The global plastic dielectric films Market is projected worth US$ 1.45 billion by 2026 and the market is projected to showcase 3.8% CAGR during the forecast period. The plastic dielectric films market is driven by an increase in demand from electronics industry for various applications.
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 favourable 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.
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 factorare 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.
The global plastic dielectric films market is segmented into product, application, and region. On the basis of product, the global plastic dielectric films market is segmented polypropylene (PP), polyethylene naphthalate (PEN), polyethylene terephthalate (PET), polytetrafluoroethylene (Teflon) (PTFE), polyphenylene sulfide (PPS), and polyvinylidene difluoride (PVDF). On the basis of application, the global plastic dielectric films market is segmented into automobiles, electrical & electronics, aircrafts, solar & wind energy system, and others. On the basis of the region, the global plastic dielectric films market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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.
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 hold the major share among them due to the rapidly expanding electronics industry.
The major players associated with the plastic dielectric films market are KOPAFLIM, Coveme spa, Bolloré Group, SABIC, Elecktrofolien GmbH, and Indorma Ventures Public Company Limited, etc.
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.
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