The global optical films market experienced significant growth in 2022, reaching a value of US$ 19.45 billion. It is projected to continue growing at a compound annual growth rate (CAGR) of 6.2% between 2022 and 2032, eventually reaching US$ 35.46 billion.
The strong demand for tablets, smartphones, and other electronic devices is expected to be a major driving force behind the growth of the global optical films market in the forecast period. The market is also benefiting from technological advancements in smartphones and smart televisions, which are contributing to its robust expansion.
Optical films offer various characteristics such as exceptional contrast, increased brightness, glare reduction, color uniformity, and enhanced readability. These features make them highly desirable for applications in televisions, laptops, desktops, automotive displays, tablets, smartphones, advertising, and signage display boards. As a result, the optical films market is expected to experience substantial growth in the forecast period.
One of the key components of optical films is the backlight film, which provides the backlight source for LCD panels. LCD backlight films consist of adhesive products, optical diaphragms, backlights, plastic frames, insulation products, and other components.
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The products derived from optical films include dichroic filters/mirrors, antireflection coatings (AR coatings), and beam splitters. Multilayer dielectric films, such as dichroic mirrors and filters, have different refractive rates that enable the separation of light within specific wavelength ranges. These products find applications in spectrometers, fluorescence analysis, and lighting. AR coatings are used on optical fibers, camera lenses, laser resonance crystals, and other surfaces to minimize reflection. Optical films also function as beam splitters, dividing light into two beams through transmittance and reflectance, based on polarization and light intensity.
The market study on the optical films market, conducted by Future Market Insights, utilized a bottom-up approach, with the assistance of an experienced team of analysts and consultants. Their insights provide valuable information on the market’s current and future trends and developments
“With realization of the fact that optical films do cover infrared and ultraviolet wavelengths, the global optical film market is likely to grow well in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Optical Film Market
- The Asia-Pacific holds the largest market share with Japan and South Korea being home to various key players like Samsung Electronics, Sony Corp., Panasonic Corp, LG Electronics, and likewise.
- North America holds the second-largest market share with the US witnessing technological upgradations on continuous basis.
- Europe holds more than 20% of the market share and the situation is expected to remain unchanged even going forward. This could be credited consumers’ increasing inclination toward innovations in the device features with globalization to add.
Competitively Optical Films
- WeeTect has its anti-glare solutions for solving window and screen glare problems since 2018.
- Sumitomo Chemical, in April 2019, entered into collaboration with Zymergen for developing specialty materials inclusive of optical films for flexible electronics circuits, displays, hard coatings devoid of scratch, and likewise.
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What is the Competitive Landscape of the Optical Films Market?
Some of the key participants of the optical films market are Nitto Optical Co., Ltd., Sumitomo Chemical Co. Ltd., LG Chemical Ltd., Samsung SDI (Formerly Cheil Industries), BenQ Materials Corp., Sanritz Co., Ltd., Zeon Corporation, 3M Company, American Polarizers, Inc., Toray Industries, Inc., Toyobo Co. Ltd., China Lucky Film Group Corporation, Teijin Limited, Mitsubishi Polyester Film GmbH, SKC Inc., Kolon Industries, Inc., Dexerials Corporation, Suntechopt Corporation, JXTG Nippon Oil & Energy Corporation, Hyosung Corporation, Fusion Optix Inc., Dejima Optical Films BV, KOLON Industries, Inc., Reynard Corporation (Optical Coatings), Nanpao Resins Chemical Group (Optical Film Adhesives), Touch International, Inc., Carestream Contract Manufacturing, Chimei Materials Technology Corp., Molecular Vista, BlueDot Photonics, QD Solar, Metamaterial, VUV Analytics, etc.
Asia-Pacific Leads the Way, North America Follows: Optical Films Market Regional Analysis:
The Asia-Pacific region takes the lead in the optical films market, commanding approximately 30.2% of the global market share in 2022. This dominance can be attributed to the rapid growth of industries such as consumer electronics, automotive, industrial, optical equipment, and lighting. With a rising number of optical film manufacturers, particularly in China, Japan, and South Korea, the market in this region continues to expand.
In North America, the optical films market showcases promising performance, securing the second position in terms of market share. With a notable CAGR of 30%, the region benefits from economic expansion, technological advancements, and consumer preferences for devices equipped with advanced features. These factors contribute to the growth of the optical films market in North America.
Europe is also experiencing growth in the optical films market and is expected to hold a significant share of 25% during the forecast period. The region’s market expansion is fueled by technological advancements, increasing consumer demand for innovative device features, and the influence of globalization
Key Benefits for Optical Films Market:
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
- It outlines the current trends and future scenario of the market from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
- The profiles of key players along with their key strategic developments are enlisted in the report.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
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Key Segments
By Type:
- Surface Treatment Film
- PVA Film & Protection
- PET Protection & Release Film
- Reflector Film
- Light Guide Plate
By Function:
- Display Surface Films
- Brightness Enhancement Films
- Light Control/Privacy Films
By Application:
- Smartphones
- TV
- Laptops
- Tablets
- Billboards
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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