What Factors Propelled The Growth Of The Optical Films Market In The Past?
The optical films market has seen considerable growth due to a variety of factors.
•In recent times, the market size of optical films has witnessed robust growth. The market value, which is projected to be $24.26 billion in 2024, is estimated to increase to $26.23 billion in 2025, registering a compound annual growth rate (CAGR) of 8.1%.
The surge during the historic period is due to factors like rising demand for consumer electronics, the expansion of automotive displays, increasing initiatives for energy efficiency, and the trend towards adopting thinner and lighter devices.
What Is The Projected Growth And Market Size For The Optical Films Sector?
The optical films market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of optical films is projected to experience significant augmentation in the forthcoming years, with an expected rise to $36.64 billion by 2029, following a compound annual growth rate (CAGR) of 8.7%.
This anticipated increase over the forecast period can be linked to the advent of foldable and flexible displays, elevation in the integration of wearable devices, and environmental conservation considerations. In the same forecast duration, key industry trends are predicted to be the utilization of optical films in car displays, a focused demand for ultra-thin and lightweight films, incorporation of blue-light blocking films for ocular defense, improvements in anti-scratch and long lasting coatings, as well as partnerships for the development of innovative optical film technologies.
What Are The Core Factors Supporting Growth In The Optical Films Market?
The optical films market is set to benefit from the continuous rise of the Internet of Things (IoT) technology. With IoT being a network of physical items, systems, and devices all interwoven, it encompasses sensors, software and has networking capabilities that enable data collection and sharing. Central to IoT devices, such as industrial sensors, wearables, and smart home tools, are visual interfaces and displays, where optical films significantly enhance brightness, clarity, and display visibility. As the use of IoT devices surges, so does the need for superior displays, paving the way for increased demand for optical films. To illustrate, a report by the UK-based not-for-profit Global Mobile Supplier Association in September 2022 foresees that almost 60% of cellular IoT connections will be broadband IoT by 2028's end. Globally in 2022, there were 13.2 billion IoT connections, a figure that is anticipated to reach 34.7 billion by 2028, a growth of 18%. Thus, the rise of IoT technology is set to boost the optical film market.
What Are The Major Segments Within The Global Optical Films Market?
The optical films market covered in this report is segmented –
1) By Film: Polarizing Film, Backlight Film, Other Films
2) By Function: Display Surface Films, Brightness Enhancement Films, Light Control Or Privacy Films
3) By Application: Automotive Display, Televisions, Desktop And Laptops, Smartphones, Tablets, Signage And Advertising Display Boards
Subsegments:
1) By Polarizing Film: Linear Polarizers, Circular Polarizers, Specialty Polarizers
2) By Backlight Film: Diffuser Films, Reflective Films, Light Guide Films
3) By Other Films: Anti-Glare Films, Anti-Reflective Films, Optical Coating Films
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Which Trends Are Expected To Transform The Optical Films Market?
Product advancement is a major trend that is gaining traction in the optical film market. Firms in this space are creating new products to maintain their market standing. As an example, Folex GmbH, a plastic manufacturing firm based in Switzerland, introduced the Go-Ha film in May 2023. This film was designed to improve the legibility of high-resolution screens by minimizing glare. The specialized, scratch-resistant film consists of an anti-reflective layer on the front that guarantees superior transparency as well as scratch resistance. It promises better UV stability and boasts a high chemical resistance property. This ensures that even in demanding situations, the film’s performance remains consistently good. The Go-Ha film is multi-purpose, easy to print, and adaptable to varying applications. Its anti-glare feature along with its amazing transparency helps to lessen issues related to glare and amplifies display clarity.
Who Are the Key Players in the Optical Films Market?
Major companies operating in the optical films market include:
• Saint-Gobain S.A.
• LG Chem Ltd.
• Honeywell International Inc.
• 3M Company
• Sumitomo Chemical Co. Ltd.
• Fujifilm Corporation
• Toray Industries Inc.
• Covestro AG
• Samsung SDI Co. Ltd.
• PPG Industries Inc.
• Shin-Etsu Chemical Co. Ltd.
• E. I. du Pont de Nemours and Company
• DuPont
• Nitto Denko Corporation
• Teijin Limited
• UBE Industries Ltd.
• Zeon Corporation
• Toyobo Co. Ltd.
• BenQ Materials Corporation
• Mitsubishi Polyester Film Inc.
• American Polarizers Inc.
• JX Nippon ANCI Inc.
• Light Polymers Inc.
• Hyosung Chemical Co. Ltd.
• Kolon Industries Inc.
• MNTech Co. Ltd.
• Opticote Inc.
What Is The Most Dominant Region In The Optical Films Market?
Asia-Pacific was the largest region in the optical films market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
