Global Optical Film Market is valued at approximately USD 23.21 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.7% over the forecast period 2022-2029. Optical films are multi-layered coated films with optical properties. These films are highly used in applications such as OLED (Organic Light Emitting Diode) panels and TFT (Thin Film Transistor) LCD liquid crystal panels. The growing demand for consumer electronics such as smartphones, tablets, etc., the increasing adoption of large format displays, and increasing disposable income are the primary factors that are burgeoning the market demand across the globe.
As per the Federal Statistical Office, in 2019, disposable personal income in Germany was accounted for USD 516.23 billion (EUR 504.54 billion) and the amount increases and reach to USD 544.47 billion (EUR 532.14 billion) in the year 2022. Therefore, the growing purchasing capacity of the population is fueling the demand for consumer electronics, which, in turn, accelerates the market growth at a significant rate. In addition, the rising emergence of display technologies like micro led and true quantum dot, as well as the rising focus on the construction and upgradation of new and existing display panel manufacturing plants, are creating various lucrative prospects for the market in the forthcoming years. However, exclusivity and intellectual property (Ip) protection of emerging and advanced display materials and high volatility in prices of indium tin oxide are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Optical Film Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the space in terms of revenue, owing to the growing consumer electronics industry, along with the availability of cheap labor and raw materials. Whereas, North America is expected to grow significantly during the forecast period. Factors such as rising investment in R&D activities, as well as increasing geriatric population, as well as growing technological developments are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Toray International, Inc.
Nitto Denko Corp.
Mitsubishi Chemical Corp.
KOLON Industries, Inc.
Toyobo Co., Ltd.
Sumitomo Chemical Co., Ltd.
Recent Developments in the Market:
In October 2018, Zeon Corporation announced the expansion of its production capacity of ZeonorFilm optical film in Takaoka City, Japan in order to meet the rising demand for optical films.
Global Optical Film Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Desktop & Laptops
Signage & Advertising Display Boards
Rest of the World