Optical Film Market Growth Analysis | 2023-2028

Market Insights

The optical film market was estimated at USD 25.17 billion in 2022 and is likely to grow at a CAGR of 8.53% during 2023-2028 to reach USD 41.28 billion in 2028.

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Market Dynamics

Introduction

Optical films refer to an optics branch dealing with very thin layers of materials that are commonly used in movies and moving pictures. These can be categorized in a number of types such as polarizer films, backlit unit films, indium tin oxide films, and so on.

Optical films have applications in various modern-day devices such as televisions, monitors, mobile phones, and many others.

Market Drivers

The major factors driving the growth of the optical film market are:

• Increasing demand for smartphones, tablets, and other electronic devices is projected to drive the growth of the industry during the forecast period.
• The growing population, which led to an increase in the rate of urbanization, and caused changes in the consumer lifestyle, is expected to propel the demand for electronic devices, which is projected to lead to an increase in product utilization.
• Developments in portable smart consumer electronics, such as smart televisions and smartphones, are expected to propel product demand over the forecast period.
• The rising demand for multifunctional devices and an increasing number of companies are expected to fuel the industry in the coming years.

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Key Players

Some of the optical film manufacturers are-

• Nitto Denko Corporation
• Sumitomo Corporation
• LG Chem Ltd
• Fujifilm Holdings Corporation

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Product Type

Based on the product type, the market has been segmented as polarizer film, backlit unit film, and ITO film. It is estimated that the polarizer film segment will have the largest market in the coming five years. This segment will also have the highest growth during the forecast period. The market is driven by the increasing demand for large-sized television screens, mobile phones, and notebooks.

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as televisions, monitors, notebooks, mobile phones, and others. The television segment is expected to be the largest market in the coming five years, owing to the increasing demand for larger display sizes. The mobile phone segment is likely to have the fastest growth during the forecast period, owing to the rising infiltration of smartphones.

Regional Insights

In terms of regions, Asia-Pacific is expected to remain the largest market for optical films in the coming five years, by value and volume. China and India will be the growth engines of the region. The market is driven by the increasing demand for larger television screen displays, mobile phones, monitors and other electronic devices during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s optical film market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The optical film market is segmented into the following categories:

By Product Type

• Polarizer Film
• Backlit Unit (BLU) Film
• Indium Tin Oxide (ITO) Film

By End-Use Industry Type

• Televisions
• Monitors
• Notebooks
• Mobile Phones
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-use industry.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.