Global consumption of plastic dielectric films stands at around USD 1,192.2 million in 2023. The market is slated to increase at a CAGR of 4.1% to reach a market valuation of USD 1,748.98 million by 2033.
Trends Shaping the Plastic Dielectric Film Industry:
The plastic dielectric films market is witnessing several trends that are shaping its growth trajectory. The increasing demand for energy-efficient and eco-friendly products is driving the adoption of plastic film dielectric capacitors, which are used in various applications, including consumer electronics, renewable energy systems, and automotive applications.
The market is also experiencing a trend towards miniaturization, where smaller and thinner capacitors are being developed to meet the demands of modern electronic devices. Furthermore, the rise of the Internet of Things (IoT) and the increasing use of sensors in various applications are driving the demand for ceramic capacitors, which offer high capacitance and high stability.
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The sales of plastic dielectric films are anticipated to witness growth due to the growing demand for reliable and high-performance electrical components. Film capacitors are among the most used capacitors in the market, with a wide range of applications in electronic devices, telecommunications, and industrial equipment.
The use of Film Capacitors is also gaining traction in the renewable energy sector, where they are used in solar and wind power systems. Ceramic capacitors are also experiencing a surge in demand due to their excellent high-frequency characteristics, high-temperature stability, and low losses.
The demand outlook for the plastic dielectric films industry is positive, with the market expected to grow at a steady rate. The demand for film capacitors is projected to grow due to their increasing adoption in electronic devices, automotive applications, and renewable energy systems.
Ceramic capacitors are also expected to experience significant growth due to their increasing use in consumer electronics and automotive applications. In addition, the adoption of dielectric films is expected to grow, particularly in the packaging industry, where they are used to enhance the shelf life of food products.
Principal Consultant
Companies looking to enter the plastic dielectric films industry have several opportunities to explore. With the increasing demand for renewable energy sources, there is a growing need for energy-efficient components, such as film capacitors and ceramic capacitors.
The automotive industry is also a promising area for companies to enter, with the increasing adoption of hybrid and electric vehicles, which require various electrical components, including film capacitors.
Moreover, there is an increasing demand for dielectric films in the packaging industry, which can be leveraged by companies that specialize in film production. By focusing on research and development, companies can develop innovative products that cater to the growing demand for energy-efficient and reliable electrical components.
| Plastic Dielectric Films Market Size (2023) | USD 1,192.2 million |
|---|---|
| Sales Forecast (2033) | USD 1,748.98 million |
| Global Market Growth Rate (2023 to 2033) | 4.1% CAGR |
| Share of Top 5 Plastic Dielectric Film Manufacturers | 50% |
Plastic dielectric film consumption accounted for a 4.5% share of the global consumer electronics packaging market in 2021. Achieving energy efficiency is the focus of manufacturers in the electrical & electronics industry, and plastic dielectric films are widely used for insulation in these products, thereby driving the market growth. During the historical period of 2017 to 2022, the plastic dielectric films market expanded at a CAGR of 3.2%.
The market for plastic dielectric films is expected to decline by 40 basis share points (BPS) in H1-2022 (O) in comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a decrease in BPS change by 20 BPS has been noticed.
The reason for the decline in the market is due to plastic dielectric films having no self-healing capability and being flammable under overload conditions. Despite these prospects, fluctuations in petroleum prices affect the cost of polymers used in plastic dielectric films.
| Particulars | Details |
|---|---|
| H1 2021 | 4.9% |
| H1 2022 Projected | 4.7% |
| H1 2022 Expected | 4.5% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 20 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 40 ↓ |
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The global plastic dielectric films industry is anticipated to rise at a 4.1% CAGR from 2023 to 2033.
Plastic dielectric films are mostly employed in capacitors, which are made up of two oppositely charged metal plates separated by an insulating element, such as a plastic film that serves as a dielectric. Capacitors are mostly employed in electronic circuit designs. Plastic dielectric films are utilized in power electronic converters and inverters on a modest scale.
Growing demand for high-tech electronic goods including touchscreen cell phones, audio pods, tablets, and laptops is driving the plastic dielectric industry. Plastic dielectric films have several benefits in the digital and electronic sectors, including small design, lightweight, high emissivity, low absorption, and refractory temperature conditions.
Demand for film capacitors worldwide is expected to witness strong growth over the coming years owing to the increasing significance of film capacitors with growing demand for consumer electronics worldwide. The plastic dielectric film market is primarily driven by the ever-increasing demand for low-cost and effective film capacitors.
Renewable Energy Systems to Create Enormous Growth Opportunities for Plastic Dielectric Films
Film capacitors are widely preferred over other capacitor types, such as electrolytic capacitors and ceramic capacitors, owing to numerous advantages such as affordability, longer shelf & service life, and high precision capacitance values.
The plastic dielectric films that are used to manufacture film capacitors are extremely thin with their thickness being under one micrometer. Typical film capacitors have capacitance values ranging from 1nF to 30microF and voltage range from 50V to as high as 2kV.
Technological developments in plastic film capacitors are expected to increase their demand in military and defense applications, high-voltage power transmission, oil & gas, and medical industries.
The use of solar energy as a renewable power generation source is increasing across the globe. This, in turn, has created lucrative growth opportunities for plastic dielectric film market players. It is witnessed that plastic dielectric films are gaining widespread popularity for use in renewable energy systems, such as solar and wind power.
There are several similarities between circuits found in solar and wind power systems. This alludes to significant demand prospects for plastic dielectric films for application in renewable energy systems shortly.
Fluctuating Prices of Raw Materials to Hinder Market Expansion
Heavy petroleum is utilized as a source of raw materials for plastic dielectric films. The price of dielectric films is affected by changes in the price of petroleum. This is a significant limitation for the plastic dielectric industry, as raw material costs have a crucial influence on the market pricing setting.
The market for plastic dielectric films is expected to be hampered by a significant reliance on non-renewable resources such as petroleum and increasing regulations on plastic consumption.
| Region | Market Value in USD million |
|---|---|
| North America | 88,101 |
| Latin America | 39,739 |
| Europe | 134,036 |
| South Asia | 59,226 |
| East Asia | 387,190 |
The plastic dielectric films industry in East Asia was valued at USD 387,190 million in 2022. East Asia is expected to lead the global plastic dielectric films industry in terms of market value, accounting for nearly 49% of the share of the global market.
The presence of many established as well as local electrical & electronics equipment manufacturers in the region is a key factor underpinning their relative lucrativeness in the plastic dielectric films industry. Overall demand for larger film capacitors is predicted to rise as the industrial significance of capacitors production expands.
In East Asia, China dominated the plastics dielectric films industry due to the rise in energy demand because of increased industrialization and digitization. OEMs and electronic manufacturing service providers are looking to move their production sites to China on account of cost optimization, convenient raw material supply, and low labor costs.
Due to increased demand for consumer electronics as a consequence of the elevated standard of living, the market is predicted to develop at the fastest rate over the forecast period.
The United States plastic dielectric films market was worth USD 88,101 million in 2022. One of the factors driving the market growth in North America is the increasing demand for eco-friendly and energy-efficient products.
Plastic dielectric films are widely used in various applications, including renewable energy systems, electric vehicles, and consumer electronics, to store and release energy. The increasing awareness about environmental sustainability and energy efficiency has led to a higher demand for plastic dielectric films in North America.
The United States is likely to emerge as a significant income source for the market due to the prominent presence of the automotive industry. Rising sales of new light vehicles in the United States are fueling demand for polymeric dielectric films, which are used as insulation materials in automotive applications.
Europe's plastic dielectric films industry was worth USD 134,036 million in 2022. One of the factors driving the market growth in Europe is the increasing adoption of electric vehicles and renewable energy systems.
Plastic dielectric films are widely used in electric vehicle batteries and solar power systems to store and release energy. The European Union's ambitious renewable energy targets and regulations have resulted in a higher demand for plastic dielectric films in the region.
Latin America held a market value of USD 39,739 million in the plastic dielectric films industry in 2022. One of the factors impacting the market growth in Latin America is the political and economic instability in the region.
The uncertain political environment and economic downturns in countries like Brazil and Argentina have resulted in lower demand for plastic dielectric films in the region. However, the growing population and urbanization in Latin America are expected to drive the demand for consumer electronics, automotive, and renewable energy systems, which can create new opportunities for the plastic dielectric films industry in the future.
PET Plastic Dielectric Films to Garner Largest Revenue Share Owing to Superior Qualities
In 2022, Polypropylene (PP) held a value of USD 617.0 million in the plastic dielectric films industry based on material type.
Polyethene terephthalate (PET) plastic dielectric film is expected to lead the plastics dielectric films market owing to qualities such as good strength, high stiffness, superior chemical resistance, and damage tolerance. PET plastic film is a completely recyclable material that may be made into fibers, textiles, and sheets for use in the production of automotive components.
Furthermore, because of its outstanding electrical insulating qualities, and high structural and dimensional stability, polyethylene terephthalate is frequently employed in the electrical and electronics industries. Because of its high dielectric constant, PET has positioned itself as the industry leader, resulting in increased demand from the electronics sector to make a variety of small capacitors.
As a result, PET's qualities make it ideal for high-voltage alternating current (AC) and direct current (DC) systems. As a result of all of these causes, PET is becoming more popular as a plastic dielectric film.
Rising Demand for Insulation of Electrical and Electronics Industry Driving Market Expansion
The film application segment, particularly AC film capacitors, held a value of USD 684.7 million in the plastic dielectric films industry in 2022.
The global plastic dielectric films market is likely to be dominated by the electrical and electronics industry, which is expected to increase in future years. This expansion can be credited to leading industry players that are concentrating on ongoing product innovation to obtain a significant portion of the global market.
Dielectric films made of plastic have a high level of stability, a prolonged shelf life, and a high ability to withstand power surges. Telecommunication, electrical transmission line and cable, and other advancements such as LCD, LEDs, and OLEDs all employ them.
Plastic films are commonly used to provide electrical insulation in a variety of applications, including aviation electrical design, circuit boards, capacitors, radio and microwave circuits, electrical cables, and high-voltage equipment.
In terms of end use, electrical & electronics held the highest value of USD 492.8 million in the plastic dielectric films industry in 2022.
The electrical & electronics segment also includes various industrial applications, including power distribution systems, motor drives, and lighting.
Plastic dielectric films, such as AC film capacitors, are widely used in these applications due to their excellent electrical characteristics, including high stability and low losses. The increasing adoption of these applications has led to a higher demand for Plastic dielectric films in the electrical & electronics segment.
The plastic dielectric films market is highly competitive and fragmented, with several key players dominating the market. Some of the major players operating in the market include Toray Industries, Inc., DuPont Teijin Films, SKC, Inc., Mitsubishi Chemical Holdings Corporation, and Toyobo Co., Ltd., among others.
To maintain their market position and stay competitive, these companies are adopting various strategies such as expanding their production capacity, launching new products, and investing in research and development activities to introduce innovative products.
For instance, in 2022, Toray Industries, Inc. announced the launch of a new range of polypropylene dielectric films that offer improved performance and reliability for high-temperature applications. Similarly, DuPont Teijin Films introduced a new range of polyethylene terephthalate (PET) films that offer high clarity and dimensional stability.
In addition, players are also focusing on strategic partnerships and collaborations to expand their market presence and improve their product offerings.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Mexico, Argentina, Germany, Italy, France, United Kingdom, Nordic, Spain, Japan, China, India, Malaysia, Thailand, Australia, GCC Countries, South Africa, Turkey |
| Key Market Segments Covered | Product, Application, End Use, Region |
| Key Companies Profiled | Treofan Group; Toray Industries Inc.; Bollore Group, etc.; SMEC Limited; Steiner Electric Company; DuPont Teijin Film; Kopaflim Elektrofolien Gmbh; Plastic Capacitors Inc.; SABIC; Tervakoski Film |
| Pricing | Available upon Request |
The plastic dielectric films market is worth USD 1,192.2 million in 2023.
The plastic dielectric films market is predicted to rise at a 4.1% CAGR through 2033.
The plastic dielectric films market is estimated to be worth USD 1,748.98 million by 2033.
The top 5 plastic dielectric film manufacturers occupy nearly 50% of the total market share.
East Asia holds prominence, estimated at USD 387,190 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. PTEF 5.2. PEN 5.3. PET 5.4. PP 5.5. PPS 5.6. PVDF 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Electrical & Electronics 6.2. Automobiles 6.3. Solar & Wind Energy Systems 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Electronics 7.2. Automotive 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Treofan Group 16.2. Toray Industries Inc. 16.3. Bollore Group, etc. 16.4. SMEC Limited 16.5. Steiner Electric Company 16.6. DuPont Teijin Film 16.7. Kopaflim Elektrofolien Gmbh 16.8. Plastic Capacitors Inc. 16.9. SABIC 16.10. Tervakoski Film 17. Assumptions & Acronyms Used 18. Research Methodology
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Plastic Dielectric Films Market
