Global Optical Film Market Report and Forecast 2023-2028

Global Optical Film Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global optical film market reached a value of USD 24.19 billion in 2022. Aided by the exponential growth in the display sector and the pervasive application of optical films across various sectors, the market is projected to further grow at a CAGR of 7.50% between 2023 and 2028 to reach a value of USD 37.34 billion by 2028.

Optical films, primarily used in the screens of electronic devices, enhance the visual quality and viewing experience for the user. Predominantly found in televisions, smartphones, laptops, and tablets, these films aid in enhancing brightness, managing reflective light, and improving the overall functionality of the screen. Their ability to limit glare, provide a wider viewing angle, and offer enhanced colour vibrancy makes them indispensable in the contemporary age of technology.

The profound surge in demand for advanced display technologies serves as the principal propellant for the global optical film market growth. The relentless evolution of electronic gadgets, intensified by the need for sharper and clearer visual experiences, has fostered a conducive environment for the optical film sector to flourish. With the widespread adoption of 4K and OLED screens, and the emergence of flexible and foldable displays, the indispensability of optical films has only magnified.

Moreover, the automotive sector is increasingly integrating optical films, considering their role in improving the visibility and functionality of infotainment and navigation screens in modern vehicles. This trend, coupled with the increased demand for sunroof films and heads-up displays, further accentuates the optical film market size.

The realm of renewable energy also offers a fertile ground for optical film applications. The burgeoning solar power sector employs these films to enhance the efficiency and life span of solar panels. By limiting the reflection and aiding in the optimal capture of sunlight, optical films play a pivotal role in maximising energy generation, thereby boosting their demand in the green energy sector.

Furthermore, the global push towards more sustainable, energy-efficient infrastructures has amplified the optical film market demand. Commercial and residential establishments are resorting to films for windows and facades that can regulate temperature, reduce energy consumption, and offer improved aesthetic appeal.

Market Segmentation

The market can be divided based on film type, application, and region.

Market Breakup by Film Type

• Polarising Film
• Backlight Unit Film
• ITO Film

Market Breakup by Application

• Television
• Desktop Monitors and Laptops
• Control Display Panel
• Smartphones and Tablets
• Signage/Large Format Display
• Automotive Display
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global optical film market. Some of the major players explored in the report by Expert Market Research are as follows:

• Toray International, Inc.
• Hyosung Chemical Corporation
• Sumitomo Chemical Co., Ltd
• 3M
• Zeon Corporation
• PRONAT Industries Ltd.
• Nitto Denko Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.