Ottawa, May 02, 2024 (GLOBE NEWSWIRE) -- According to Precedence Research, the global optical films market size was valued at USD 28.6 billion in 2023. The optical films market is driven by technological advances, urbanization, and increased demand for electronic devices.
The optical films market is a segment of the materials industry that produces thin films with optical properties that are used to manipulate light for display quality, energy efficiency, or protection. Optical films, consisting of materials such as plastic or glass, are used in various applications, including LCD panels, sunglasses, touchscreens, and medical devices. They are composed of dielectrics, metals, and semiconductors, with qualities defined by the material utilized.
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Optical thin films made of diverse materials serve various functions, including glare reduction, contrast enhancement, and UV radiation protection. Optical filters selectively pass through specific light wavelengths, which affects items such as camera lenses and LCD panels. They can also be used to create beam splitters, mirrors, and polarizing filters. Optical films are vital components of optical equipment used in a variety of industries.
Key Insights
- Asia-Pacific dominated the market with the largest market share of 53.82% in 2023.
- By film type, polarizing film segment has held the biggest market share of 48% in 2023.
- By application insight, the smartphone segment has recorded more than 36% of the market share in 2023.
- By application insight, the TV display segment is expected to grow at the fastest rate during the forecast period.
Regional Stance
The Asia Pacific optical films market size surpassed USD 15.39 billion in 2023 and is projected to hit around USD 32.44 billion by 2033, growing at a CAGR of 7.73% from 2024 to 2033.
Asia-Pacific dominated the optical film market in 2023 due to urbanization, advanced technologies, and increased demand for electronic devices. Asia's electronics industry is growing thanks to low pricing, abundant resources, technical developments, and trained labor. The region's industrial sector generates 70% of worldwide output, making it an appealing site for firms.
Government incentives, decreased labor costs, and enhanced research and development capabilities all help to drive growth. Automation and R&D investments allow for speedier manufacturing and novel technologies such as artificial intelligence and 5G networks. Asia has a strong presence in the global supply chain.
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Scope of Optical Films Market
| Report Coverage | Details |
| CAGR | 7.5 % from 2024 to 2033 |
| Market Size in 2023 | USD 28.6 Billion |
| Market Size in 2024 | USD 30.77 Billion |
| Market Size in 2033 | USD 58.97 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2021-2022 |
| Segments Covered | By Film Type, By Application, and By Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Report Highlights
Film Type Insight
The polarizing film segment dominated the optical films market in 2023. Polarizing films reduce interference reflections while delivering great contrast and broad-spectrum transmission. These optical solutions are intended for industrial settings and harsh situations. Polarizer films, also called polarizers, allow partially polarized light to pass through, reducing reflections and improving contrast. They are utilized in a variety of sectors, including imaging and LCD displays, to enhance contrast and image quality.
Application Insights
The smartphone application dominated the optical films market in 2023. Advanced optical films are used in mobile electronics and display systems to improve screen life, efficiency, and optical performance. Suppliers such as 3M Company develop thinner, higher-performing films in three functional categories: directed light control, protection, and brightness enhancement. These films use light characteristics to suit display requirements in a variety of sectors.
Brightness-enhancement films (BEFs) improve brightness, reduce weight, reduce heat, and increase battery life. Dual brightness improvement films recycle non-polarized light, whereas increased specular reflector films increase recycling efficiency. Protective films create optically transparent barriers, whereas flexible transparent barrier films give exceptional clarity and impact resistance.
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The TV segment is expected to grow at the fastest rate during the forecast period. The increasing use of LCD and LED products, the demand for huge displays and video walls, and the growing popularity of laptop computers in corporate offices and educational institutions because of work-from-home policies and online classes are all driving demand for optical films in television applications.
Market Dynamics
Drivers
Increasing demand for electronic products
Increasing demand for electronic products is a key driver for the growth of the optical films market. The consumer electronics market changed dramatically due to shifting consumer preferences, technological breakthroughs, and market dynamics. The increasing demand for high-quality items, low-cost innovation, and the impact of e-commerce have all contributed to the industry's expansion. Consumers are becoming more concerned about the value of their electronic equipment, demanding higher performance, durability, and dependability.
Companies are focusing on providing value for money by selling feature-rich products at competitive prices. The rise of e-commerce has increased retail competition, lowered prices, and boosted market openness. E-commerce platforms have made electronics more accessible and inexpensive, allowing customers to compare costs and make informed purchasing decisions from their own homes. To meet the different needs of the Indian market, corporations are adopting localization and customization tactics.
Usage of optical films in the automobile industry
Efforts have been undertaken to improve automobiles’ fundamental performance, including drivability, safety, and environmental protection. The integration of numerous technologies, such as mechanics, electronics, and optics, has made automobiles safer and more pleasant. Surface and thin film technologies are primarily focused on a variety of applications.
Optical thin films, especially interference coatings, regulate solar energy, resulting in lower fuel usage and protection of the driver’s skin and sheet materials from ultraviolet radiation. Birefringent and polarizing films are utilized for interior panel displays. Ultrasonic mirrors with hydrophobic thin film coatings are commonly utilized for safe driving.
Browse More Insights:
- Plastic Films and Sheets Market: The global plastic films and sheets market size was exhibited at USD 128.83 billion in 2022 and is projected to hit around USD 214.93 billion by 2032, growing at a CAGR of 5.25% from 2023 to 2032.
- Automotive Films Market: The global automotive films market size was estimated at USD 8.38 billion in 2022 and it is expected to hit around USD 13.56 billion by 2032, growing at a CAGR of 4.93% from 2023 to 2032.
- Automotive Wrap Films Market: The global automotive wrap films market size was evaluated at USD 6.02 billion in 2022 and it is expected to hit around USD 32.82 billion by 2032, poised to grow at a CAGR of 18.48% from 2023 to 2032.
- Polyolefin Films Market: The global polyolefin films market size was estimated at USD 99.85 billion in 2022 and is projected to hit around USD 164.19 billion by 2032, growing at a CAGR of 5.1% over the forecast period from 2023 to 2032.
- Fluoropolymer Films Market: The global fluoropolymer films market size was estimated at USD 2.16 billion in 2022 and it is predicted to hit over USD 4.02 billion by 2032 and is growing at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2032.
- High Barrier Packaging Films Market: The global high barrier packaging films market size accounted for USD 18 billion in 2022 and it is projected to surpass around USD 27.11 billion by 2032, poised to grow at a CAGR of 4.18% from 2023 to 2032.
- Medical Packaging Films Market: The global medical packaging films market size was reached at USD 7.2 billion in 2022 and it is projected to be worth around USD 12.85 billion by 2032, expanding at a CAGR of 5.96% from 2023 to 2032.
- Packaging Barrier Films Market: The global packaging barrier films market size was estimated at USD 25.8 billion in 2022 and is anticipated to reach around USD 36.57 billion by 2032, poised to grow at a CAGR of 3.6% from 2023 to 2032.
- Barrier Films Market: The global barrier films market size was valued at USD 35.40 billion in 2023 and is anticipated to reach around USD 61.86 billion by 2033, growing at a CAGR of 5.74% from 2024 to 2033.
Restraint
Complex process
Complex procedure for making an optical film is a major restraint for the optical film market. Physical vapor deposition (PVD) is commonly used in vacuum coating chambers at pressures ranging from 10-6 to 10-4 Torr to create optical thin film coatings. The coating substance is heated until it evaporates and condenses onto the substrates. The next most prevalent method is sputtering, which involves bombarding the coating material with accelerated atoms at chamber pressures greater than evaporation.
Sputtering produces higher adherence and denser coatings. Atomic layer deposition (ALD) is a newer technology in the optical coating area that uses a chemical vapor deposition (CVD) process comparable to semiconductor industry procedures but at lower temperatures, allowing glass and plastic optics to survive intact.
Opportunity
Advances in technology
Stress is a major concern in many technical applications, influencing the operating characteristics, reliability, and longevity of material components and systems. In the optical film marker, high-throughput and wide-spectrum components necessitate more film layers, which causes stress building and component deviation. Stress control is a critical consideration in modern film component design and manufacturing. Film stress is principally determined by the deposition method, preparation procedure, and thermal annealing technique.
Researchers currently manage film stress during the preparation process by adjusting substrate and film materials, deposition temperature, deposition rate, and working pressure. Thermal annealing is an effective method of lowering film stress, although it is not always possible due to issues such as high temperatures and discrepancies in thermal expansion coefficients between film and crystal. Existing strategies for designing multilayers use strain cancelation concepts. However, this approach cannot achieve accurate matching or reduce overall stress to ultra-low levels. Research incorporates mechanical synchronization into film system design, allowing for accurate matching of the multilayer film's ideal structure via a genetic algorithm.
Recent Developments:
- In October 2023, Kubo, an R&D engineer at Konica Minolta, Inc., was named an SPSJ FELLOW for FY2023 in recognition of his contributions to optical film. The company concentrated on liquid crystal displays (LCDs) and developed triacetyl cellulose (TAC) films as protective layers for LCD polarizers. Kubo's method achieved a wider viewing angle with a thinner film than TAC, allowing production in the TAC film-casting process and eliminating the need to laminate a retardation film on a polarizer.
- In June 2023, DNP expanded its manufacturing capacity of high-function optical film to suit the growing demand for huge displays. Dai Nippon Printing (DNP) has increased manufacturing capacity at its Mihara site in Hiroshima by including a wide-range coating unit, increasing total output capacity by more than 15%. This new coating device can accommodate a 2,500 mm film, increasing the efficiency of film manufacturing for large-screen devices.
Optical Films Market Key Players
- 3M
- Toray International, Inc.
- Mitsubishi Chemical Corp.
- Nitto Denko Corp.
- KOLON Industries, Inc.
- Teijin Ltd.
- Hyosung Chemical
- LG Chem
- Sumitomo Chemical Co., Ltd.
- Toyobo Co., Ltd.
Market Segmentation
By Film Type
- Backlight Film
- Polarizing Film
- Others
By Application
- Televisions
- Signage & Advertising Display Boards
- Automotive Display
- Smartphones
- Desktop & Laptops
- Tablets
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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