Portland,OR, July 15, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global electronic films market was pegged at $7.75 billion in 2020, and is expected to garner $12.62 billion by 2028, registering a CAGR of 7.0% from 2021 to 2028.
Increase in trend toward digitization, surge in penetration of smart applications across residential and commercial sectors, and rise in demand for consumer electronics equipment have boosted the growth of the global electronic films market. However, surge in processing cost associated with ITO-based electronic films hinders the market growth. On the contrary, surge in development of PCB product is expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak decreased the construction activities, which in turn, reduced the demand for electronic films. Moreover, the government imposed several regulations regarding social distancing. Thus, several projects of smart buildings and cities were postponed.
- The prolonged lockdown resulted in disruption of the supply chain and increase in prices of raw materials.
- Amid the pandemic, the construction industry was closed temporarily to curb the spread of the virus, which affected the demand for electronic films.
The global electronic films market is segmented on the basis of film type, thickness, material, application, and region.
Based on film type, the non-conductive segment held the lion’s share in 2020, contributing to more than half of the market. Moreover, the segment is projected to manifest the highest CAGR of 7.8% from 2021 to 2028. The report also analyzes the conductive segment.
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On the basis of application, the electronic display segment dominated the market in 2020, accounting for nearly one-third of the market. However, the smart buildings segment is expected to register the highest CAGR of 9.5% during the forecast period.
The global electronic films market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than one-third of the market. However, the market across LAMEA is expected to register the highest CAGR of 7.6% during the forecast period.
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The global electronic films market includes an in-depth analysis of the prime market players such as 3M, Eastman Kodak Company, DuPont, Nitto Denko Co., Gunze Ltd., Saint-Gobain S.A., Panasonic Co., Teijin Ltd., TDK Co., and TOYOBO Co. Ltd.
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