The optical film market is projected to reach USD 30.2 billion by 2024, registering a CAGR of 7.0% between 2019 and 2024. The use of optical film is growing due to the increase in the size of display panels in televisions and smartphones.
APAC accounts for the largest market share of optical film, globally. The large market share of the region can be attributed to the rapid growth of end-use industries, such as consumer electronics, automotive, industrial, optical equipment, and lighting, resulting in the constant demand for optical film in various applications.
The major manufacturers profiled in this report are LG Chem, Ltd. (South Korea), Hyosung Chemical (South Korea), Toray Industries Inc. (Japan), Sumitomo Chemical Co., Ltd. (Japan), 3M (US), Zeon Corporation (Japan), Kolon Industries Inc. (South Korea), Sanritz Co., Ltd. (Japan), Nitto Denko Corporation (Japan), and Samsung SDI (Japan). These players have adopted various growth strategies, such as new product launches and expansions to expand their presence further, improve their distribution channels, and increase their penetration in the global optical film market.
To know about the assumptions considered for the study download the pdf brochure
The strategy of new product launch and expansion accounted for a share of 83% and 17%, respectively, of the overall strategies adopted between 2014 and 2018. The market players concentrated mainly on consolidation through new product launch and expansions to increase their market shares and enhance their sustainability. LG Chem, Ltd., Toray Industries Inc., Sumitomo Chemical Co., Ltd., Zeon Corporation, and Samsung SDI adopted the maximum number of growth strategies between 2014 and 2018 in the optical film market.
Samsung SDI (Japan) accounted for the largest share of all the development activities undertaken in the global optical film market between 2014 and 2018. The company follows dynamic growth strategies with new product launches and expansions to strengthen its geographical presence and customer base. For instance, in May 2015, the company signed a Memorandum of Understanding with China’s Wuxi City for building a new polarizer plant due to the increasing demand for big screen TV from China in the polarizing film market. Samsung SDI has planned to set up a production line so that its products can be applied to the biggest market of eighth-generation LCD panels.
LG Chem, Ltd. (South Korea) is a leading provider of optical film. The company is primarily focused on expansion of its distribution network. For instance, in March 2015, the company announced the expansion of its Thin Film Transistor-Liquid Film Display (TFT-LCD) polarizer production in Nanjing, China. This expansion will increase the company’s annual capacity as well as the Chinese market share of polarizers up to 35%. Thus, LG Chem will be the leader in the polarizer market with its differential materials and technology.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=69547381
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/optical-film-market-69547381.html