Optical Films Market Report
RA00013
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.
Based on type, the market has been divided into Polarizing Film, ITO film, and backlight unit film sub-segments of which the Polarizing Film sub-segment is projected to generate the maximum revenue as well as show the fastest growth. Download PDF Sample ReportOptical Films Market
By Type
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.
Optical Films Market
By ApplicationOn the basis of application, the market has been sub-segmented into Television, smartphones & tablets, desktop monitors & laptops, large format display, and others. Among the mentioned sub-segments, the smartphones & tablets sub-segment is predicted to show the fastest growth in the market.
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.
Optical Films Market
By RegionThe optical films market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
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.
| Aspect | Particulars |
| Historical Market Estimations | 2019 - 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Type |
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| Segmentation by Application |
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| Key Companies Profiled |
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Q1. What is the size of the global optical films market?
A. The size of the global optical films market was over $20,647.30 million in 2021 and is projected to reach $40,600.60 million by 2030.
Q2. Which are the major companies in the optical films market?
A. LG Chem, Ltd. and Samsung SDI are some of the key players in the global optical films market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific optical films market?
A. Asia-Pacific optical films market is anticipated to grow at 8.50% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. LG Chem, Ltd. and Samsung SDI are investing more on R&D activities for developing new products and technologies.
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
Optical films are thin layers of materials that are designed to intensify reflection, polarization, and transmission of properties of an optical substance or element. Although thickness and atomic layers vary from application to application, usually the thickness of optical film coatings is at least 500 nm for their better working. The reason why optical films are applied to optical components is that it’s very rare for a reflective substance to portray an ideal optical characteristic on its own. These thin films enhance such characteristics and are greatly used for almost every optical component around us. Moreover, just like any other coating, optical film coatings are applied on the outside surface of the optical element to not only enhance its properties but to also protect the component from corrosion and degradation.
Forecast Analysis of the Optical Films Market:
The growing demand for well-structured and brighter display panels by electrical devices’ manufacturers is one of the main factors anticipated to drive the growth of the global optical films market during the 2022-2030 forecast period. Moreover, continuous implementation of technical innovations and the prevalence of large format displays in hospitals, education, advertisements, etc. is yet another factor to boost the market growth by 2030. In addition, the rising demand for foldable and flexible displays used in smartphones, laptops, and tablets is expected to create abundant market growth opportunities during the analysis timeframe. Furthermore, strategic product launches and acquisitions by key market players is also estimated to amplify the growth rate of the market. However, high set-up cost of optical films is predicted to impede the market growth.
Regionally, the optical films market in the Asia-Pacific region is projected to hold a dominant market value and surpass $16,646.20 million during the analysis years due to rising electronics sales in countries like Japan, China, and India. Additionally, the growing demand for advanced optical films for electrical devices is also estimated to propel the market growth in the Asia-Pacific region by 2030. Besides, the prevailing dominance of smartphones, laptops, and tablets in Japan and India is expected to enhance the market development.
According to the report published by Research Dive, the global optical films market is predicted to gather a revenue of $40,600.60 million and grow at 8.00% CAGR in the 2022–2030 timeframe. Some significant market players include Samsung SDI, Sumitomo Chemical Co., Ltd., Sanritz Co., Ltd., Kolon Industries Inc., LG Chem, Ltd., Nitto Denko Corporation, 3M, Hyosung Chemical, Toray Industries Inc., Zeon Corporation, and many others.
Covid-19 Impact on the Optical Films Market:
The outbreak of the Covid-19 catastrophe has had a moderate impact on the global optical films market. Strict lockdowns and travel bans imposed by governments across the world to curb the spread of the virus led to severe disruptions in the supply chain of optical films. In addition, shortage of subcontractors as well as cancellation of multiple contracts to control expenses during such unprecedented times also reduced the demand for optical films. However, many key market players reduced the operational costs of products to increase the overall profitability. These factors prove that the Covid-19 pandemic has moderately affected the optical films market.
Significant Optical Films Market Developments:
The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position, thus helping the market to flourish. For instance:
In November 2021, Kolon Industries Inc., a renowned leader in materials and chemicals, announced a strategic partnership with Origin Materials Inc., a leading carbon negative materials company, to build a successful business in novel polymers and drop-in solutions for automotive applications. Moreover, this partnership also aims to industrialize the latter’s sustainable carbon-negative products with the help of Kolon’s polymerization expertise and supply chain strength to take the global optical films market to greater levels.
In April 2022, Buhler Leybold Optics, a major supplier of thin-film vacuum coaters, announced its collaboration with imec, an R&D organization in the fields of nanoelectronics and digital electronics, to boost the production of the former’s HELIOS 800 tool. The tool enables high-volume manufacturing of thin films by using an in situ optical monitoring system. Moreover, the collaboration aims to upgrade the system for processing complex optical filter architectures, thus further propelling the market growth.
In April 2022, Meta Materials Inc., a leading developer of high-performance functional nanocomposites, announced its acquisition of Plasma App Ltd., (PAL), the developer of PLASMAfusion, a manufacturing platform technology. META aims to apply the same technology to the metallization step of its of its NANOWEB and KolourOptik security films to enable high-speed coating of solid materials on any substrate type and boost the production of advanced optical films.
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