The global Optical Film Market is forecast to reach USD 36.25 Billion by 2026, according to a new report by Reports and Data. The growing trend of digitization in emerging nations is driving the optical films market. Rising investments in large infrastructure projects such as smart cities and intelligent transportation systems are propelling the growth of optical films market.
The proliferation of the Internet of Things (IoT) by industries, academic institutes, government institutes, and offices are influencing the market for display devices, which in turn is driving the demand for optical films. Rising consumer demand for smart electronic wearables is also driving the optical films market.
Adoption of smart homes in developed countries is influencing the demand for displays such as LCD displays, which in turn is driving the optical films market growth. Manufacturers of optical films are investing in research and development to launch cost-efficient and innovative products. Manufacturers are also collaborating with consumer electronic product manufacturers or OEMs to branch out and develop consumer-centric products.
The Asia Pacific region dominates the market for Optical Films with a market share of 33.5% in the year 2018. China is the major contributor to the market. High demand for LCD televisions, smartphones, laptops, and tablet PCs are propelling the growth of the market.
Key participants LG Chem, Ltd., Hyosung Chemical, 3M, Kolon Industries, Inc., Nitto Denko Corporation, Toray Industries Inc., Mitsubishi Chemical Corporation, SKC Inc., Samsung SDI, and Dexerials Corporation, among others.
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Further key findings from the report suggest
The polarizing film held the largest market share of 43.4% in the year 2018. Polarizing film helps convert non-polarized light into linearly polarized light. Letter and graphics recognitions without the polarizers would be impossible. A polarizing film is one of the significant elements of LED technology that enables the display of images on LCD and OLED screens.
Brightness Enhancement Film (BEF) is forecasted to grow with a CAGR of 7.0% during the forecast period. BEF is a prismatic film that manages the angular output the light from the backlight. BEF films can be used as a single sheet or as two sheets crossed at a right angle.
Application of television is forecasted to grow with the highest CAGR of 9.6% during the forecast period. Optical films enhance the energy efficiency of television without sacrificing display performance.
The Vikuiti DBEF D3 300 by the company 3M claims to improves the brightness of electronic devices by recycling polarized light and eradicate the need for a diffuser sheet, which in turns reduces the overall bill of materials.
North America is forecasted to hold a market share of 28.1% in the year 2026. The region has a huge market for electronics and being a developed country; electronics has huge penetration in the maximum number of household. Moreover, an increase in the trend for gaming has increased the demand for electronic gadgets.
Zeon Corporation expanded its manufacturing capacity of optical films in October 2018 in the Asia Pacific region. The company has set up a plant in Japan owing to the increasing demand from the country.
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For the purpose of this report, Reports and Data have segmented into the global Optical Film market on the basis of film type, function, application, and region:
Film Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Backlight Unit Film (Blu)
Function Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Display Surface Films
Brightness enhancement films (BEF)
Reflective polarizer films (DBEF)
Backlight reflector films (ESR)
Light control/privacy films (ACLF)
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Desktop Monitors Laptops
Smartphones and Tablets
Signage/Large Format Display
Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
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