Global Optical Film Market is driven by increasing demand for smartphones, tablets, and other similar consumer electronic devices
Published Date | 2019 September 30
According to BlueWeave Consulting, The Global Optical Film Market is projected to exhibit significant growth during 2019-2025. Owing to the rising demand for mobile phones and television displays across the globe is expected to fuel the growth of the global optical film market over the forecast period. Optical films with high moisture resistance, heat resistance, and optical durability against the bending and curving of display devices are being developed, particularly for the flexible display market. Increasing penetration of Internet of Things (IoT) by industries, government institutes, academic institutes, offices is influencing the demand for display devices, which in turn is propelling the demand for optical films.
Mounting investments in large infrastructure projects like smart cities, intelligent transportation systems are stimulating the growth of optical films market. The factors such as the growing usage in displays like LCD display, the rise in environmental concern, and strict government policy in packaging. Growing consumer electronics market in the Asia Pacific, especially in India and China is driving the global optical films market. Rising trend of digitization in developing markets, growing consumer demand for smart electronic wearable is driving the optical films market.
Polarizing Film type holds the largest market share of the optical film market during the forecast period
In terms of type, Polarizing Film segment accounted for the largest market share in 2018 and is projected to dominate the global optical film market throughout the forecast period. Owing to rising demand for larger panel size, growing penetration of quantum dot displays (QD-LED) for better visibility and development in demand for high quality organic light-emitting diode (OLED) displays in smartphones. Rise in environmental concerns due to hazards caused by the disposal of electronic products is projected to drive this segment. Moreover, the reflective properties offered by polarizing films are driving the market.
Asia Pacific is projected to be the leading region for utilizing the Optical Film market during the forecast period
Geographically, Asia Pacific dominated the overall optical film market and projected to lead the market due to the positive growth of end-use industries like consumer electronics, automotive, industrial, optical equipment, and lighting. Favorable regulations, availability of workforce, and government initiatives to provide attractive FDI regulations have resulted in a shift of manufacturing bases of major players to regions like China, India, and Vietnam. This trend is projected to continue during the forecasted period owing to the continuous rise in technological advances in the region.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global optical film market size & forecast. The report promises to provide state-of-the-art technology of optical film production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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