Global Optical Film Market Poised for Strong Growth, Projected to Reach $40.4 billion by 2030

WIN SIVERS DRIVE, OR, UNITED STATES, December 12, 2024 /EINPresswire.com/ -- According latest report published by Allied Market Research, The global optical film market size was valued at $20.6 billion in 2021, and is projected to reach $40.4 billion by 2030, growing at a CAGR of 7.6% from 2022 to 2030. The report offers key drivers that propel the growth in the global hydrazine market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.

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Global Optical Films Market is driven by high demands of manufacturers for optical films in LCDs and LEDs. Optical films have various applications such as thin film transistors (TFTs), liquid crystal display (LCD) panels and organic light emitting diode (OLED) panels. Additionally, optical films are used in desktop monitors and laptops, smartphones and tablets, television and other large displays. These numerous applications present new opportunities in the years to come.

As per Allied Market Research, based on applications, television (TV) segment accounted for the largest share in 2021, contributing around one-third of the global optical films market, and is expected to maintain its leading position during the forecast period. This is due to technological advancements in TV resolution and the growing influence of digital media on smart TV advertising and marketing. However, the tablet and smartphone segment is expected to show the highest CAGR of 8.3% from 2022 to 2030, owing to the rapid growth in technology adoption in developing countries.

Based on type, the polarizer segment held the highest market share in 2021, accounting for almost half of the global optical films market, and is expected to maintain its leading status throughout the forecast period. Moreover, the same segment is expected to show the highest CAGR of 7.8% from 2022 to 2030. Polarizing films help in reducing glare and reflection from objects, and hence, they are widely used in a number applications around the world. This, in turn, drives the segment. Two other segments analyzed in the report are Backlight Unit and Indium Tin Oxide.

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Based on the region, Asia Pacific held the highest market share by 2021 revenue, accounting for nearly two-fifths of the global optical film market. Moreover, the same region is expected to witness the fastest CAGR of 8.1% from 2022 to 2030. This is attributed to the increase in demand for advanced optical films in various electrical appliances.. Other regions analyzed in the report are North America, Europeand LAMEA.

Key Benefits For Stakeholders:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the optical film market analysis from 2021 to 2030 to identify the prevailing optical film market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the optical film market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global optical film market trends, key players, market segments, application areas, and market growth strategies.

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Major Market Players:-

1. LG Chem, Ltd.
2. Samsung SDI
3. 3M
4. Sumitomo Chemical Co., Ltd.
5. Zeon Corporation
6. Kolon Industries Inc.
7. Nitto Denko Company
8. Toray Industries Inc.
9. Sanritz Co., Ltd.
10. Hyosung Chemical.

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