Optical Films Market by Type (Polarizing Film, ITO Film, and Backlight Unit Film), Application (Television, Smartphones & Tablets, Desktop Monitors & Laptops, Large Format Display, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030

Global Optical Films Market Analysis

The global optical films market is predicted to garner $40,600.60 million in the 2022-2030 timeframe, growing from $20,647.30 million in 2021, at a healthy CAGR of 8.00%.

Market Synopsis

Strategic alliances among market players, along with growing demand for well-structured and brighter display panels, are expected to accelerate the growth of the optical films market.

However, high manufacturing cost of optical films along with raw material cost might be a growth-restricting factor for the market.

According to the regional analysis, the Asia-Pacific optical films market is anticipated to grow during the review period with revenue of $16,646.20 million and a CAGR of 8.50% due to increasing population using laptops.

Optical Films Overview

Optical films are the coating or thin films that are mostly used to enhance the transmission, polarization, and reflection of the various optical systems such as fiber-optics bundles, reflecting prisms, projection screens, dispersing devices, and mirrors. There are different types of optical films available depending upon the thickness, refractive index, and materials. In addition to this, there are some common types of optical films like ITO films, backlight module, and polarizing film.

Impact Analysis of COVID-19 on the Global Optical Films Market

The novel coronavirus pandemic had a moderate effect on various industries including the optical films market. The biggest reason that negatively impacted the global optical films market was strict lockdown that broke the supply chain of the optical films. Moreover, shortage of subcontractors along with termination of contracts for controlling expenses decreased the demand and growth of the optical films market.

However, various companies decreased the operational cost of the products to increase the profitability. The above-stated factors show that the pandemic may have moderately affected the optical films market.

Increasing Prevalence of Large Format Displays to Surge the Market Growth

The global optical films industry is witnessing a massive growth mainly due to increase in demand for large format displays which demands the continuous implementation of technical innovations, which will ultimately accelerate the global optical films market growth. Moreover, rising prevalence of OLED (organic light-emitting diode) technologies in display is thereby driving the adoption of functional foods.

The emergence of large format displays in the field of hospitals, advertisements, education, and others is the factor expected to drive the global optical films market. Furthermore, penetration of online shopping of electric items due to festive discounts on various products is one of the aspects that will drive the global optical films market. For instance, Samsung, electronic company, based in South Korea, revealed that they have launched various smart TVs on Amazon and Flipchart with various offers and discounts. These types of initiatives from market leaders are also predicted to drive the growth of the market.

To know more about global optical films market drivers, get in touch with our analysts here.

High Investment Cost of Optical Films to Restrain the Market Growth

The setup cost of optical films industry is high due to high class technology. Along with this, the cost of raw material for manufacturing optical films is also very high. Therefore, high cost may create a negative impact on the growth of the market during the forecast period.      

Immense Demand for Flexible and Foldable Displays in the Market to Create Massive Investment Opportunities

The global optical films market is growing at a very fast pace due to rising popularity of foldable and flexible displays that are used in smartphones, tablets, and other electronic devices as optical films are light, thin, flexible, and durable. Such aspects has skyrocketed the global optical films market. Moreover, optical films are mostly used in electronic gadgets because of high demand for optically coated glasses, thereby positively affecting the market growth.

Furthermore, companies are opting for various strategies such as product launch and innovation in optical films market. For example, LG Innotek, electronic company, in April 2021, announced that they have launched Nexlide-E, which is -designed to produce uniform and bright light in automotive lighting module. Also, Nexlide-E is designed in such a way that it has three parts LED package, optical resin, and optical film. This company has designed new optical film with thickness 0.2mm. This type of product innovation and development may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global optical films market opportunities, get in touch with our analysts here.

[TYPEGRAPH]

Source: Research Dive Analysis

The polarizing film sub-segment is predicted to have a dominating as well as fastest growing market share in the global market and register a revenue of $19,015.60 million during the forecast period. Polarized films are the films that are made up of polyvinyl alcohol (PVA). Polarized films are mostly used in application of imaging, display, microscopy, and others. These factors and strategic alliances by key companies may bolster the growth of the sub-segment during the forecast period.

[APPLICATIONGRAPH]

Source: Research Dive Analysis

The smartphones & tablets sub-segment of the global optical films market is projected to have the fastest growth and surpass $8,512.40 million by 2030, with an increase from $4,082.60 million in 2021. This growth in the market can be attributed to rising number of people using smartphones along with growing trends of social media. All such elements may increase the demand for smartphones & tablets sub-segment and further surge the market growth.

[REGIONGRAPH]

Source: Research Dive Analysis

The Market for Optical Films in Asia-Pacific to be the Most Dominant

The Asia-Pacific optical films market is dominating the market by registering a revenue of $16,646.20 million by 2030, growing at a CAGR of 8.50%. The growth shall be a result of increasing electronics sales in the countries such as India and China. Moreover, demand for advanced optical films in various electrical devices is accelerating the global optical films market. Furthermore, adoption of laptops and smartphones in countries such as India and Japan is increasing the demand for optical films in electrical devices for coating of optical glass. Such factors display that the demand for optical films is going to increase exponentially in the upcoming years.

Competitive Scenario in the Global Optical Films Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading optical films market players are LG Chem, Ltd., Samsung SDI, 3M, Sumitomo Chemical Co., Ltd., Zeon Corporation, Kolon Industries Inc., Nitto Denko Corporation, Toray Industries Inc., Sanritz Co., Ltd., and Hyosung Chemical.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Type  trends
2.3.By Application trends 

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis

3.8.1.Stress point analysis
3.8.2.Raw material analysis
3.8.3.Manufacturing process
3.8.4.Sales Channel analysis
3.8.5.Operating vendors

3.8.5.1.Raw material suppliers
3.8.5.2.Type   manufacturers
3.8.5.3.Type   distributors

3.9.Strategic overview

4.Flavored Water  Market, by Type 

4.1.Overview

4.1.1.Market size and forecast, by Type  

4.2.Polarizing Film

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028

4.3.ITO Film

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028

4.4.Backlight Unit Film

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region, 2020-2028
4.4.3.Market share analysis, by country 2020 & 2028

5.Flavored Water  Market, by Application 

5.1.Overview

5.1.1.Market size and forecast, by Sales Channel

5.2.Television

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028

5.3.Smartphones & Tablets

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028 

5.4.Desktop Monitors & Laptops

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2020-2028
5.4.3.Market share analysis, by country 2020 & 2028

5.5.Large Format Display

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region, 2020-2028
5.5.3.Market share analysis, by country 2020 & 2028 

5.6.Others 

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region, 2020-2028
5.6.3.Market share analysis, by country 2020 & 2028

6.Flavored Water  Market, by Region

6.1.Overview

6.1.1.Market size and forecast, by region

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Type  , 2020-2028
6.2.3.Market size and forecast, by Application , 2020-2028
6.2.4.Market size and forecast, by country, 2020-2028

6.2.5.U.S.

6.2.5.1.Market size and forecast, by Type  , 2020-2028
6.2.6.Market size and forecast, by Application , 2020-2028

6.2.7.Canada

6.2.7.1.Market size and forecast, by Type  , 2020-2028
6.2.8.Market size and forecast, by Application , 2020-2028

6.2.9.Mexico

6.2.10.Market size and forecast, by Application , 2020-2028

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Type  , 2020-2028
6.3.3.Market size and forecast, by Application , 2020-2028
6.3.4.Market size and forecast, by country, 2020-2028

6.3.5.Germany 

6.3.5.1.Market size and forecast, by Type  , 2020-2028
6.3.6.Market size and forecast, by Application , 2020-2028

6.3.7.UK

6.3.7.1.Market size and forecast, by Type  , 2020-2028
6.3.7.2.Market size and forecast, by Application , 2020-2028

6.3.8.France

6.3.8.1.Market size and forecast, by Type  , 2020-2028
6.3.8.2.Market size and forecast, by Application , 2020-2028

6.3.9.Spain

6.3.9.1.Market size and forecast, by Type  , 2020-2028
6.3.9.2.Market size and forecast, by Application , 2020-2028

6.3.10.Italy 

6.3.10.1.Market size and forecast, by Type  , 2020-2028
6.3.10.2.Market size and forecast, by Application , 2020-2028

6.3.11.Rest of Europe

6.3.11.1.Market size and forecast, by Type  , 2020-2028
6.3.11.2.Market size and forecast, by Application , 2020-2028

6.4.Asia Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Type  , 2020-2028
6.4.3.Market size and forecast, by Application , 2020-2028
6.4.4.Market size and forecast, by country, 2020-2028

6.4.5.China

6.4.5.1.Market size and forecast, by Type  , 2020-2028
6.4.5.2.Market size and forecast, by Application , 2020-2028

6.4.6.Japan

6.4.6.1.Market size and forecast, by Type  , 2020-2028
6.4.6.2.Market size and forecast, by Application , 2020-2028

6.4.7.India 

6.4.7.1.Market size and forecast, by Type  , 2020-2028
6.4.7.2.Market size and forecast, by Application , 2020-2028

6.4.8.South Korea

6.4.8.1.Market size and forecast, by Type  , 2020-2028
6.4.8.2.Market size and forecast, by Application , 2020-2028

6.4.9.Australia 

6.4.9.1.Market size and forecast, by Type  , 2020 2028
6.4.9.2.Market size and forecast, by Application , 2020-2028
6.4.9.3.Comparative market share analysis, 2020 & 2028

6.4.10.Rest of Asia Pacific

6.4.10.1.Market size and forecast, by Type  , 2020-2028
6.4.10.2.Market size and forecast, by Application , 2020-2028

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by Type  , 2020-2028
6.5.2.1.Market size and forecast, by Application , 2020-2028
6.5.3.Market size and forecast, by country, 2020-2028

6.5.4.Latin America  

6.5.4.1.Market size and forecast, by Type  , 2020-2028
6.5.4.2.Market size and forecast, by Application , 2020-2028

6.5.5.Middle East 

6.5.5.1.Market size and forecast, by Type  , 2020-2028
6.5.5.2.Market size and forecast, by Application , 2020-2028

6.5.6.Africa

6.5.6.1.Market size and forecast, by Type  , 2020-2028
6.5.6.2.Market size and forecast, by Application , 2020-2028

7.Company profiles

7.1.LG Chem, Ltd., 

7.1.1.Company overview
7.1.2.Operating business segments
7.1.3.Type  portfolio
7.1.4.Financial Performance
7.1.5.Recent strategic moves & developments

7.2. Samsung SDI 

7.2.1.Company overview
7.2.2.Operating business segments
7.2.3.Type  portfolio
7.2.4.Financial Performance
7.2.5.Recent strategic moves & developments

7.3.3M

7.3.1.Company overview
7.3.2.Operating business segments
7.3.3.Type  portfolio
7.3.4.Financial Performance
7.3.5.Recent strategic moves & developments

7.4.Sumitomo Chemical Co., Ltd. 

7.4.1.Company overview
7.4.2.Operating business segments
7.4.3.Type  portfolio
7.4.4.Financial Performance
7.4.5.Recent strategic moves & developments

7.5.Zeon Corporation 

7.5.1.Company overview
7.5.2.Operating business segments
7.5.3.Type  portfolio
7.5.4.Financial Performance
7.5.5.Recent strategic moves & developments

7.6.Kolon Industries Inc. 

7.6.1.Company overview
7.6.2.Operating business segments
7.6.3.Type  portfolio
7.6.4.Financial Performance
7.6.5.Recent strategic moves & developments

7.7.Nitto Denko Corporation 

7.7.1.Company overview
7.7.2.Operating business segments
7.7.3.Type  portfolio
7.7.4.Financial Performance
7.7.5.Recent strategic moves & developments

7.8. Toray Industries Inc. 

7.8.1.Company overview
7.8.2.Operating business segments
7.8.3.Type  portfolio
7.8.4.Financial Performance
7.8.5.Recent strategic moves & developments

7.9.Sanritz Co., Ltd. 

7.9.1.Company overview
7.9.2.Operating business segments
7.9.3.Type  portfolio
7.9.4.Financial Performance
7.9.5.Recent strategic moves & developments

7.10.Hyosung Chemical.

7.10.1.Company overview
7.10.2.Operating business segments
7.10.3.Type  portfolio
7.10.4.Financial Performance
7.10.5.Recent strategic moves & developments

* Taxes/Fees, If applicable will be added during checkout. All prices in USD.