Pi Advanced Materials

With more than 30% global market share, PI Advanced Materials(PIAM), based in South Korea, is the global leader of polyimide films for flexible printed circuit boards and graphite sheets used in the high growth and high margin markets of mobile devices and electric vehicles. PIAM’s ultra-high performance polyimides are cutting-edge materials offering exceptionally high temperature resistance, dimensional stability, flexibility and electric insulation. They are increasingly used in attractive markets such as electric vehicles, consumer electronics, semiconductor manufacturing and other advanced industrial applications. They benefit from the growing need for miniaturization, higher thermal management and increased safety and durability. With two state-of-the-art industrial production sites and two R&D centers in South Korea, this highly innovative company employs approximately 320 people. PIAM enjoyed strong sales growth of 12% per year on average in the 2012-2021 period, focusing on top quality and high value added products, and reaching an EBITDA margin of 30%. Sales amounted to around €200 million in 2022, temporarily impacted by the large destocking observed in the global consumer electronics market. PIAM was included as an Arkema group in 2023.