The global optical film market is expected to top $40,600.60

NEW YORK, USA, April 27, 2022 (GLOBE NEWSWIRE) – New report on Global Optical Film Market Added by Research Dive to its repository. According to the report, The global market is expected to reach $40,600.60 million by 2030, growing at a CAGR of 8.00% from 2022 to 2030. This report is an in-depth study that provides accurate insights into the current state and future scope of the global industry. The report has been drafted by expert market analysts and assures that it is a reliable source of data and comprehensive market insights for new market players, investors, diffuse players, stakeholders, contributors, etc.

Factors Influencing the Growth of Optical Films Market:

The growing demand for large format displays in areas such as advertising, hospitals, education, etc. and the increasing popularity of organic light-emitting diode (OLED) technologies in the display sector are some of the key factors fueling the growth of the global optical film market. Optical films have properties such as thinness, lightness, flexibility and durability. Hence, the increasing demand for displays with features such as tablets, smartphones and other foldable and flexible electronic gadgets is expected to provide profitable growth opportunities for the optical film market in the forecast period. However, the high costs involved in manufacturing photovoltaic films are expected to hamper market growth.

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Impact of COVID-19 Pandemic on Optical Film Market:

The sudden rise of the COVID-19 pandemic in 2020 had a negative impact on the growth of the global optical film market. In the epidemic period, the electronics manufacturing sector has stopped normal work due to the shortage of various raw materials. This greatly reduced the demand for optical films during the crisis. Also, the disruption of the optical film supply chain due to strict shutdowns and reduction of operational costs of products by many companies to increase profitability has negatively affected market growth.

The report segments the global optical film market into type, application, and region.

Sub-part of the polarizing film to witness the dominant growth

Among the genre segment, the polarizing film sub-segment is expected to witness the highest growth and bring in $1,015.60 million during the forecast period. The growth of this sub segment is mostly due to the increasing demand for polarized films in applications such as imaging, screens, microscopy, and much more.

Smartphones and Tablets Subpart to realize rapid growth

Among the applications segment, the smartphones and tablets sub-segment is expected to witness exponential growth and amounted to $8.512.40 million during the estimated time frame. This is mostly due to the increasing demand for smartphones and tablets among the people due to the growing trend of social media applications.

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Asia Pacific Optical Film Market To Monitor Leading Growth

The report analyzes the global optical film market across several regions such as North America, Europe, Asia Pacific, and Lamy. Among these, the Asia Pacific region is expected to lead the market by earning $16,646.20 million during the estimated time frame. The growth of the market for this region is mainly due to the increasing adoption of optical films by electronics manufacturers in countries, such as India and China, due to the high sales of electronics in this region.

Major Players in Optical Films Market:

The report lists some of the prominent players operating in the global visual film industry including

  1. Hyosung Chemical
  2. LG Chem, Ltd.
  3. 15:00
  4. Neto Denko Company
  5. Sumitomo Chemical Co., Ltd.
  6. Zion Company
  7. Kowloon Industries Company
  8. Toray Industries Inc.
  9. Sunritz Co., Ltd.
  10. Samsung SD.

The report also introduces several industry-leading tactics and approaches such as top strategic moves and developments, product/service scope, business performance, Porter’s Five Forces analysis, and SWOT analysis of the major players, operating in the global industry. For example, in April 2019, Sumitomo Chemical Co., Ltd. entered into Ltd., the leading optical film company, and US biotech company Zymergen, are partnering to develop specialized renewable materials. Together, these companies aim to develop specialized materials that may include optical films for screens, tough coatings that won’t scratch, flexible electronic circuits as well as adhesives.

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