Companies Focusing on Consumer Goods and Renewable Energy Sectors for Business Stability
Analysts at Transparency Market Research (TMR) anticipate that, manufacturers in the PP capacitor films market will establish stable growth in the consumer goods space. The consumer goods sector accounts for the highest production in the PP capacitor films market, with an estimated production of ~429,700 tons by the end of 2027.
Manufacturers are focusing on untapped incremental opportunities in the automotive space. For instance, in March 2019, Borealis - a provider of innovative solutions in polyolefins and chemicals, announced the launch of Quentys™ PP. This compound is an alternative to the PET (Polyethylene Terephthalate) core layer, and is installed in the backsheets of solar cells that are even used in racing cars.
Improved PP capacitor films are posing as a threat to conventional polymer materials. Chemical companies in the PP capacitor films market are increasing their focus on renewable energy as a result of stringent environmental regulations set by governments. As such, companies are achieving this by increasing the efficacy of high-voltage DC cables in wind energy systems, through high-performance PP capacitor films.
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Incremental Opportunities in Power and Smart Grid Landscape Electrify Market Growth
Plastic is increasingly being used in electrical and electronic applications. The rising demand for electricity storage has fueled the growth of the PP capacitor films market. Electricity storage plays an important role in the landscape of power plants and smart grids. As such, power plants and smart grids are estimated to account for the second-highest production output amongst all end-use industries in the PP capacitor films landscape, with a manufacturing turnout of ~318,500 tons by 2027. Hence, companies in the PP capacitor films market are increasing their focus on catering to the needs of stakeholders in the power and electricity landscape.
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Manufacturers are improving the storage capacity of existing electricity grids due to the increase in local production of electricity through wind farms and solar power plants. This trend has also led to the increased electrification of transportation systems. There is growing demand for high-performance PP capacitor films, as electricity storage is affected at wind farms and solar power plants as per changing weather conditions. Since the output of wind farms and solar power plants is highly dependent on weather conditions, manufacturers in the PP capacitor films market are collaborating with stakeholders in the power and electricity space to regulate the output.
Local storage of electricity and connecting new operators to the grid require large volumes of power capacitors. Hence, market players are capitalizing on this trend by increasing the availability of PP compounds that are used as insulation material in power capacitors.
Innovation in New Material Blends Enable High Performance in Capacitor Series
Polypropylene is commonly used as a standard dielectric in film capacitors. Manufacturers in the PP capacitor films market are developing PP into biaxially-oriented PP (BOPP) films with the help of the sequential stretching process. However, there is growing need for new dielectrics that withstand high temperatures.
The PP capacitor films market is highly fragmented. This poses a threat to the business of key market players, since small- and medium-scale manufacturers are aggressively penetrating into various end markets. However, emerging players lack the expertise and monetary resources to advance in improved dielectrics, which explains the modest growth of the PP capacitor films market, which is projected at a CAGR of ~5% throughout the forecast period. BOPP films are state-of-the-art dielectrics with excellent self-healing properties. However, they execute limited performance at high temperatures, and are difficult to process. Hence, manufacturers in the PP capacitor films market are developing new material blends that withstand high temperatures. As such, they are innovating new semi-crystalline PPs that are easy to process into films.
There is growing demand for innovative power capacitor technologies for wide band gap semiconductor. Thus, manufacturers are developing advanced design features in capacitors that can be used for high-frequency applications. They are aiming to add value for the end users by introducing compact and lightweight capacitor series, enabling lighter cooling systems.
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With continuous technological innovation, engineers are designing advanced power electronics that require high-performance capacitors. Hence, companies in the PP capacitor films market are increasing the availability of high-value PP compounds that are used in a variety of applications, such as energy storage, filters, and decoupling in the space of power electronics.
However, in the landscape of electric drive vehicles, metalized PP capacitors are found to have a limited temperature range that does not meet full operating requirements of automotive electronics. To overcome this challenge, manufacturers should experiment with semi-crystalline PP that improves temperature operation. They should focus on increasing their production capabilities in Asia Pacific, as the region is projected for exponential market growth.
PP Capacitor Films Market: Description
- The global PP capacitor films market was valued at ~US$ 2.2 Bn in the year 2018.
- The global PP capacitor films market is projected to expand at a CAGR of ~5% over the forecast period, to reach a value of ~US$ 3.5 Bn by 2027.
- Capacitors that use thin PP films as a dielectric medium are known as PP film capacitors or PP capacitors. PP capacitor films provide excellent dielectric properties, which results in high and consistent breakdown strength and avoids dielectric losses.
- PP capacitor films offer high purity, low ash levels, low dissipation factor, and maximum cleanliness. These films are extremely thin. They are metallized, or left untreated, or they can be coated with multiple layers of metallic coatings, depending on the requirement. PP capacitors films are used in several applications in the automotive and electronics sectors.
Key Growth Drivers of Global PP Capacitor Films Market
- PP capacitor films are frequently used in high-voltage power applications due to their properties such as high dielectric strength, very low dielectric constant, and low volumetric mass.
- PP capacitor films are used to prevent variable power that results from the damage of systems in alternative energy and smart grid end-use industries. They help maintain the overall endurance of a system, and prevent other components from damage caused by spike in current or voltage.
- PP capacitor films are largely used in renewable energy capacitors. They have been used in power transmission and distribution applications for more than 100 years.
- Public awareness about renewable energy systems has increased, and this has attracted private as well as public investments, globally. The development of smart grids is driven by principle visions of the European Union and U.S. models. The European Union EU vision focuses on environment-related concerns, while the U.S. is planning to develop smart grids for improvements in the energy sector.
- Increase in the demand for electric energy storage devices used under extreme conditions in electric vehicles is fueling the demand for PP capacitor films, as they offer excellent thermal stability and energy density. Electric vehicles and hybrid vehicles are gaining popularity due to low fuel consumption and environmental footprint. These factors are likely to drive demand in the global PP capacitor films market space.
Key Challenges in Global PP Capacitor Films Market
- PP and PET capacitor films are most commonly used. In special applications that require temperatures of more than 150° C, capacitors films made of polyethylene naphthalene or polyphenylene sulfide are employed.
- Rise in the demand for capacitor films that can withstand temperatures of above 100° C is restraining the demand for PP capacitor films, as these can withstand temperatures of up to 105° C only.
- Polyphenylene sulfide (PPS) is preferred due to its low dissipation quality and high heat resistance. PPS capacitor films can operate at 150° C, and have the lowest temperature drift of capacitor films.
- Ceramics are more economical than PP capacitor films and are widely used in electronic circuits due to their high stability, reduced energy loss, high capacity, and compact size. All these factors are anticipated to hamper the PP capacitor films market in the near future.
Lucrative Opportunities for PP Capacitor Films Market Players
- The upgrade of consumer electronics products and new technologies, such as 5G, provide immense opportunities in the global PP capacitor films market. The electronic devices industry is driven by the customer need for newer and larger electronic devices with improved capabilities.
- In 2017, Cosmo Films announced the launch of its 10th 10.4-meter BOPP line. With the installation of this new line, the company will increase its annual capacity by 40%, thus reaching 1,96,000 MT. The company’s current annual capacity stands at 1,36,000 MT.
Asia Pacific to Dominate Global PP Capacitor Films Market
- Asia Pacific is a leading producer and consumer of PP capacitor films. China is a prominent producer and consumer of PP capacitor films in the region. It accounts for more than 45% share of the global production of PP capacitator films.
- The capacity utilization in China is around 75%, and the market in the country is witnessing excessive production.
- PP capacitor films are largely used in electric vehicles. China sold 23 million EVs in 2018, thus becoming the leading market for electric vehicles in world.
Consumer Goods End-use Industry the Most Prominent
- Based on end-use industry, the global PP capacitor films market has been divided into automotive, industrial & infrastructure, power grid & smart grids, locomotives, and consumer goods
- In terms of value and volume, the consumer goods end-use industry segment led the global PP capacitor films market in 2018.
- Increase in the use of electronic devices such as mobile phones, power banks, and laptops is a key factor driving this segment.
Leading Players in Global PP Capacitor Films Market
- Key players operating in the global PP capacitor films market include
- Shin-Etsu Chemical Co., Ltd.
- Toray Industries, Inc.
- Borealis AG
- Brückner Group GmbH
- Birkelbach Kondensatortechnik GmbH
- Steiner GmbH & CO. KG
- Sungmoon Electronics Co. Ltd
- Terichem Tervakoski, a.s.
- Companies are continuously focusing on research & development to improve their product qualities and utilize them in new applications, and increase their market share.
PP Capacitor Films Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global PP capacitor films market, to gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating a landscape for the future growth of the global PP capacitor films market, and identifies opportunistic avenues of business potential for stakeholders. The report also provides insightful information about how the global PP capacitor films market will progress during the forecast period of 2019-2027.
The report offers intricate dynamics about different aspects of the global PP capacitor films market that aid companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the global PP capacitor films market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the global PP capacitor films market, and estimates statistics related to market progress, in terms of value (US$ Mn) and volume (Tons).
This study covers a detailed segmentation of the global PP capacitor films market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the global PP capacitor films market, wherein, various developments, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on PP Capacitor Films Market
The report provides detailed information about the global PP capacitor films market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market, and are looking for innovative ways to create a unique benchmark in the PP capacitor films market, to help them make successful strategies and take target-driven decisions.
- Which type of PP capacitor film will emerge as a revenue generator for the market during the forecast period?
- How are key market players successfully earning revenue out of the advantages of PP capacitor films over substitute films?
- What will be the Y-o-Y growth of the PP capacitor films market between 2019 and 2027?
- What are the winning imperatives of frontrunners in the PP capacitor films market?
- Which end-use industry is expected to develop maximum revenue for PP capacitor films during the foreseeing period?
Research Methodology – PP Capacitor Films Market
The research methodology adopted by analysts for collating the PP capacitor films market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the PP capacitor films market.
For primary research, analysts have interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the PP capacitor films market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the PP capacitor films market.
Global PP Capacitor Films Market – Segmentation
TMR’s research study assesses the global PP capacitor films market on the basis of product, application, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the global PP capacitor films market.
Plain PP Capacitor Film
Metalized PP Capacitor Film
Industrial & Infrastructure
Power Plants & Smart Grids
Middle East & Africa