Asia Pacific Optical Films Market is expected to register a CAGR of healthy rate in the forecast period 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.Access Full Report: https://databridgemarketresearch.com/reports/asia-pacific-optical-films-market/
Asia Pacific Optical Films Market , Type (Polarizer Film, Backlight Unit Films, Optical Polyester Film, ITO Film) , Function (Display Surface Films, Brightness Enhancement Films (BEF), Backlight Reflector Films (ESR), Light Control/ Privacy Films (ACLF), Reflective Polarizer Films (DBEF), Filter Films), End User (Consumer Electronics, Automotive, Industrial, Optical Equipment, Lighting), By Application (Television, Smartphones, Laptops, Tablets, Automotive, Signage & Advertising Display Boards, Billboards, Smart Electronic Wearable, Control Panel Display, Optical Equipment, Lighting, Solar) – Industry Trends and Forecast to 2025
Prominent factors driving the growth of this market consist of rising trend of digitalization in emerging market, increasing demand for larger screen sized televisions and mobile phones and rising demand for smart electronic wearable devices.
INCREASING DEMAND FOR LARGER SCREEN SIZED TELEVISIONS AND MOBILE PHONES
Now days, it has been seen that people are shifting trends towards increasingly larger flat screens and advances in high definition technology like with 4K and 8K Television. This type of large screen sized television offers excellent properties such as ultimate home entertainment experiences along with outstanding dimensional stability. Consumers with virtual lifestyle are adopting superfast connectivity through which different companies are launching different product with latest technology and even does a price reduction which can fulfill the human needs. For instance, On June, 2018, Samsung has reduced its television price by up to 20% against its Chinese competitors like TCL and Xiaomi by adopting aggressive pricing strategy basically on 55-inch and 43-inch TV. Not only on larger flat screens, it has also been seen that people too are switching to superfast connectivity by utilizing 4G enabled devices like smartphones. According to Statista, globally around 1.36 billion smartphones were produced in 2016. In 2017, Chinese manufacturers have also attributed huge mobile production as Xiaomi has noted 76% rise in smartphone production. Thus, it can be said that increasing demand for larger screen television and mobile phones are contributing massive growth for optical films. In smart phones optical films are used in improving the touch features, by increasing the lifespan of displays and transmittance of touch panels, surface protection and many more. In case of larger flat screens, optical films are used due to durability feature against humidity and heat, to ensure wide viewing angle and for handling properly.
Few of the companies which are utilizing optical films are as follows:
Thus, the increase in demand for the smartphones proportionally increases the demand for optical film too.
RISING TREND OF DIGITALIZATION IN EMERGING MARKET
The digital transformation of industrial markets with smart manufacturing is currently on the forefront. Different major companies in the manufacturing sector which is around 79.9% of the industries are expecting to see positive effects due to digital transformation. Different technologies which are making the manufacturer to think for them are becoming common in the manufacturing world which has increased wide scale adoption of software. The Industry 4.0 is also one of the factor it represents the so-called fourth industrial revolution in discrete and process manufacturing, logistics and supply chain. The various industries that are adopting the transformation are the chemical industry, energy (Energy 4.0), transportation, utilities, oil and gas, mining and metals and other segments, including resource industries, healthcare, pharmaceutical and even smart cities. The industry 4.0 is moving towards increasingly automated and enhanced productivity. It has various anticipated benefits such as lower costs, faster processes, increased quality control and better use of resources. The Industry 4.0 assure that staff in the future will be trained to work alongside automated machinery, relieving them of the tedious tasks and replacing them with more intellectual ones. As per rising digitalization, different manufacturers are producing various types of optical films products which consist of all types of functions like display surface film, Brightness Enhancement Films (BEF), Light Control/ Privacy Films (ACLF), Reflective Polarizer Films (DBEF) and others. These functions help in improving the brightness, contrast, durability, defect hiding, energy efficiency of LCD displays. This in result helps the consumer with advanced and durable products as well as helps the manufacturer with sale maximization. For instance, American Polarizers, Inc. (U.S.), launched a Vikuiti, a dual brightness enhancement Film II (DBEF) which is a thin, multi-layer reflective polarizer helps in removing the diffuser sheet in order to provide multi functionality.
Thus, it can be said that rising digitalization as well as continuous advancement is definitely leading the optical films market
Some of the major players operating in this NITTO OPTICAL CO., LTD, Ltd., Sumitomo Chemical Co. Ltd., LG Chem., BenQ Materials Corporation, Sanritz Co.,Ltd., ZEON CORPORATION, 3M Company, American Polarizers, Inc., TORAY INDUSTRIES, INC., TOYOBO CO., LTD,, China Lucky Corp, TEIJIN LIMITED,, Mitsubishi Polyester Film, Inc, SKC Inc., Kolon Industries, Inc., Dexerials Corporation, Suntechopt Corporation, JXTG Nippon Oil & Energy Corporation, HYOSUNG,, Fusion Optix Inc., Dejima Optical Films BV, KOLON Industries, Inc. and others.
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Asia-Pacific Optical Films Market – Industry Trends and Forecast to 2027
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