Optical Film Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Optical Film Market Analysis
The global market for optical film is expected to register a CAGR of over 4% during the forecast period. The major factor driving the market studied is the growing electronics industry in the Asia-Pacific region during the forecast period. On the flip side, increasing demand for active-matrix organic light-emitting diode (AMOLED) and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Television application is expected to dominate the optical film market over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Optical Film Market Trends
This section covers the major market trends shaping the Optical Film Market according to our research experts:
Increasing Demand from Television Application
- Optical films are used in television, owing to their properties, such as increased brightness, improved contrast, and enhanced durability. It is also energy-efficient and offers better sunlight readability.
- The demand for television has been growing in recent times, owing to the increase in the disposable incomes of the middle-class population, growing hotels, and other infrastructure places.
- According to ZVEI, the German Electrical and Electronic Manufacturers' Association, global electronics production is estimated to reach EUR 4.7 trillion in 2020.
- Asia is estimated to register the fastest growth of about 4% in 2020, while America and Europe are expected to register a growth of about 2% during the same period.
- China has the world's largest electronics production base. Electronic products, such as television, recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries.
- Therefore, the demand for optical films is expected to grow considerably from the application during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to account for the largest market for optical film over the forecast period. Owing to the increasing capacity of expansions and large manufacturing capacities of electronic products, the Asia-Pacific region is expected to hold the highest market share in the electronics industry.
- China dominates the electronics production in the global market. The country's electronics production, which was steadily increasing through the years has recently suffered from deceleration owing to the ongoing trade war between China and the United States, forcing various electronics producers to shift their base from China to other countries in Asia-Pacific region.
- India has the world's third-largest TV market and is one of the largest growing markets for electronic products. According to India Brand Equity Foundation (IBEF), the LED market and television industry are expected to expand to reach a total of USD 35 billion and USD 16.8 billion, respectively, by the end of 2020.
- The Japanese electrical and electronics industry is one of the world's leading industries. The country is a world leader in the production of computers, cell phones, and various other gadgets. Consumer electronics account for a third of Japan's economic output. There has been a constant increase in the demand for Japanese consumer electronics due to their durability and quality.
- Electronics is one of the major industries in South Korea. It is among the top producers and exporters of electronic products in the world. Samsung Electronics and LG Electronics are the leading players in consumer electronics since they provide a wide range of products across various categories.
- Hence, with such trends, the demand for optical films in the Asia-Pacific region is expected to grow during the forecast period.
Optical Film Industry Overview
The global optical film market is partially fragmented. The major companies of the market studied include LG Chem, Hyosung Chemical, 3M, Zeon Corporation, and Kolon Industries, Inc., among others.
Optical Film Market Leaders
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LG Chem
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HYOSUNG CHEMICAL
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3M
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ZEON CORPORATION
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Kolon Industries, Inc.
*Disclaimer: Major Players sorted in no particular order
Optical Film Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Electronics Industry in the Asia-Pacific Region
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Increasing Demand for Active Matrix Organic Light Emitting Diode (AMOLED)
- 4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Polarizing Film
- 5.1.2 Backlight Unit Film (Blu)
- 5.1.3 ITO Film
- 5.1.4 Others
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5.2 Application
- 5.2.1 Televisions
- 5.2.2 Desktop Monitors and Laptops
- 5.2.3 Smartphones and Tablets
- 5.2.4 Signage/Large Format Display
- 5.2.5 Others
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 BenQ Materials Corporation
- 6.4.3 HYOSUNG CHEMICAL
- 6.4.4 Kolon Industries, Inc.
- 6.4.5 LG Chem
- 6.4.6 NITTO DENKO CORPORATION
- 6.4.7 Polatechno Co. Ltd
- 6.4.8 SAMSUNG SDI CO. LTD
- 6.4.9 SKC
- 6.4.10 Sumitomo Chemical Co. Ltd
- 6.4.11 Suntechopt Corporation
- 6.4.12 ZEON CORPORATION
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Optical Film Industry Segmentation
The Optical Film market report includes:
| Type | Polarizing Film | |
| Backlight Unit Film (Blu) | ||
| ITO Film | ||
| Others | ||
| Application | Televisions | |
| Desktop Monitors and Laptops | ||
| Smartphones and Tablets | ||
| Signage/Large Format Display | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Optical Film Market Research FAQs
What is the current Optical Film Market size?
The Optical Film Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Optical Film Market?
LG Chem, HYOSUNG CHEMICAL, 3M, ZEON CORPORATION and Kolon Industries, Inc. are the major companies operating in the Optical Film Market.
Which is the fastest growing region in Optical Film Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Optical Film Market?
In 2024, the Asia Pacific accounts for the largest market share in Optical Film Market.
What years does this Optical Film Market cover?
The report covers the Optical Film Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Optical Film Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Optical Film Industry Report
Statistics for the 2024 Optical Film market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical Film analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
