According to a new report published by Allied Market Research, titled, “Electronic Films Market by Film Type, Thickness, Material, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the electronic films market size was valued at $7.75 billion in 2020, and is projected to reach at $12.62 billion by 2028, growing at a CAGR of 7.00% during the forecast period.
The key players profiled in the electronic films market report include 3M, DuPont, Eastman Kodak Company, Gunze Ltd., Nitto Denko Co., Panasonic Co., Saint-Gobain S.A., TDK Co., Teijin Ltd., and TOYOBO Co. Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the global market.
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The rise in demand for electronic film technology in the consumer electronics sector, owing to surge in demand for smart phones, tablets, and electronic display applications coupled with increase in trend toward digitalization across developing countries is anticipated to propel the electronic films market growth. However, rise in manufacturing costs associated with indium tin oxide films acts as a major restraint for the market growth. Further, surge in technological advancement in electric film-based applications across electronic applications is expected to provide lucrative opportunities for the electric film industry during the forecast period.
The non-conductive segment was the highest contributor to the market in 2020. The polymer and metal mesh segments collectively accounted for around 75% market share in 2020.
The COVID-19 outbreak has significantly impacted the electronic films market growth across the globe. Delay caused in production due to lack of skilled workforce and raw material availability due to partial and permanent lockdown has hindered the growth of the market in various regions. However, surge in adoption of advanced electronic display and printed circuit board equipment in industrial and manufacturing sectors across the world has propelled the growth of the electronic films market revenue. Further, the emergence of COVID-19 led to the fall in demand for electronic-based applications. This subsequently effected the growth of the electronic films industry.
Region-wise, Asia-Pacific holds a significant share in the global electronic films market. Asia-Pacific holds the major market share in the electronics and semiconductor industry. Therefore, the demand and the revenue generated from Asia-Pacific dominate on the global level.
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Key Findings of the Study:
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In 2020, the non-conductive segment accounted for maximum revenue and is projected to grow at a notable CAGR of 7.00% during the forecast period.
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The thick segment accounted for around 60% of the electronic films market share in 2020.
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The metal mesh segment of the electronic film market is projected to grow at a CAGR of 9.20% during the forecast period.
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Asia-Pacific contributed major share in the electronic films market revenue, accounting for more than 34% share in 2020.
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