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The Electronic Films Market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 6.31% during the forecast period from 2022 to 2030, having been valued at USD 7.99 Billion in 2018.
Electronic films are specialized films that play a crucial role in safeguarding electronic devices, enhancing their performance, and ensuring durability. These films find extensive applications in the electrical and electronics industry, owing to their favorable properties such as high insulation, optical transparency, and exceptional chemical resistance. Various types of electronic films like PET, ETFE, and copper films are utilized in electronic displays for smartphones, tablets, and other devices. For example, PET films protect the optics of solar cell displays from environmental factors like abrasion, dust, or heat while improving reflectivity and light transmission.
The market's growth is primarily driven by the rising demand for electronic films in the electronics industry for manufacturing smartphones, tablets, and touch panel displays. Consumer preferences for LED and LCD touch panels are contributing significantly to this demand. The Consumer Electronics Association (CEA) predicted a 3.95% increase in the consumer electronics sector in January 2018, with a retail revenue of USD 351 billion. Additionally, the increasing demand for high-performance polymer films in various electronic applications is expected to further boost market growth.
Technological advancements in electronic films, coupled with continuous developments in printed circuit boards and other electronic products, present substantial market opportunities during the forecast period.
However, the high processing cost associated with ITO-based electronic films poses a challenge to market players and may impede overall market growth.
Global Electronic Films Market Share by Region (2018 %):
Major companies operating in the global electronic films market include TORAY INDUSTRIES, INC. (Japan), DuPont (US), Saint-Gobain (France), Coveris (US), Nitto Denko Corporation (Japan), SABIC (Saudi Arabia), Gunze (Japan), The Chemours Company (US), 3M (US), and Eastman Chemical Company (US).
The Asia-Pacific region dominates the electronic films market, expected to register the highest CAGR during the forecast period. This is attributed to the rapidly growing electronics industry and increased demand for consumer goods in the region. China, followed by India and other South-East Asian countries, leads in consumption due to population growth and rising disposable income. For example, the Indian Brand Equity Foundation (IBEF) reports an expected 9.1% CAGR in the Appliance and Consumer Electronics (ACE) industry from 2017 to 2022.
North America held a significant market share in 2018, driven by the demand for electronic adhesives in the developed electronics and telecommunication industry. Key players are expanding production capacity to meet the growing demand, as evidenced by DuPont's USD 220.1 million investment in expanding production in Circleville, Ohio.
Europe is poised for significant growth, especially in the automotive industry, where electronic films find applications in engine status displays and vision systems. Germany, France, and Russia are major contributors to regional market growth.
Latin America and the Middle East & Africa are expected to experience substantial growth due to the rising electronics industry and increased disposable income.
The global electronic films market is segmented based on material, film type, application, and region.
· Material: Polymer, ITO, Metal Mesh, and Others
· Film Type: PET, ETFE, PFA, PTFE, TCFs, Copper Films, and Others
· Application: Electronic Display, PCBs, Semiconductors, and Others
· Region: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
· In June 2023, DuPont launched its Surelon® 5000 series of high-performance electronic films for various applications, including touch screens, displays, and sensors.
· In July 2023, Applied Materials acquired Nanophase Technologies, a provider of advanced electronic films for use in semiconductors and solar cells.
· In August 2023, SKC announced the expansion of its production capacity for electronic films, expected to be completed in the first half of 2024.
· In August 2023, LG Chem introduced a new line of electronic films for flexible displays, designed to be thinner and lighter than traditional films, ideal for foldable and rollable displays.
· Electronic films manufacturers
· Traders and distributors of electronic films
· Research and development institutes
· Potential investors
· Raw material suppliers
· Market Size (2018): USD 7.99 Billion
· CAGR: 6.31% (2022–2030)
· Base Year: 2021
· Forecast Period: 2022-2030
· Historical Data: 2019 & 2020
· Forecast Units: Value (USD Billion)
· Report Coverage: Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
· Segments Covered: By Material, Films Type, Application, and Region
· Geographies Covered: North America, Europe, Asia-Pacific, and Rest of the World (RoW)
TORAY INDUSTRIES, INC., DuPont, Saint-Gobain, Coveris, Nitto Denko Corporation, SABIC, Gunze, The Chemours Company, 3M, and Eastman Chemical Company.
The increasing demand for high-performance polymer films in numerous electronic applications is projected to propel market growth.
Increased demand for electronic films in the electronics industry to manufacture smartphones, tablets, and touch panel displays.
The Electronic Films Market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 6.31% during the forecast period from 2022 to 2030, having been valued at USD 7.99 Billion in 2018.
The global market is projected to grow at a CAGR of 6.31% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65523
Published on :
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