Electronic Films Market Overview
Electronic Films market size is
forecast to reach US$11.4 billion by 2026, after
growing at a CAGR of 5.9% during the forecast
period 2021-2026. Electronic films are highly functional films, offer various properties
such as chemical resistance, UV & weather resistance, high-temperature
tolerance, optical transparency, low coefficient of friction, conductivity, and
fouling resistance among others. Electronic films find their usage in solar cells and semiconductors. The growing usage of smart mobiles, tablets, and
laptops are some of the major factors driving the market growth for electronic
films during the forecast period. The rise in preference for touch-enabled LCD
panels along with technological advancements in IT sectors is driving the
market growth. The growing literacy rate in developing nations and the rise in
consumer spending on electronic goods also supporting the market growth during
the forecast period. The growing usage of electronic displays among end-use
industries including automotive, aerospace, smartphone, medical, and media
& entertainment among others are propelling the market growth for
electronic films. However, the high manufacturing cost of electronic films may
hamper the market growth during the forecast period.
The COVID-19 pandemic is impacting
different industries; one of the few industries that were largely hit to some
extent was the electronic industry. The temporary shutdown of electronic facilities
has negatively impacted the market. The downfall in the production of electronic
goods, disruption of logistical services, and lack of workforce impacted the
market negatively during the covid-19 crises. Travel restrictions have reduced
the supply of raw materials required for the manufacturing of electronic films,
which, in turn, has affected negatively the market growth during the pandemic.
Electronic Films Market Report Coverage
The report: “Electronic Films Market – Forecast (2021-2026)”, by IndustryARC,
covers an in-depth analysis of the following segments of the Electronic Films
By Film Type: Non-conductive and Conductive
By Density type: High-Density Electronic Films, Medium-Density Electronic Films, and Low-Density Electronic Films
By Material Type: Polymer [Polyester, Polyphenylene, Nylon, Polymide, and Others], ITO on Glass, ITO on PET, Metal Mesh, Copper Films, Silicon dioxide Films, and Others [Silver nanowire, Carbon nanotubes, PEDOT, and Microfine wire]
By Application: Electronic Display, Printed Circuit Boards, Semiconductors, Electric Wires & Cables, Integrated circuits, Rectifiers, Transistors, light-emitting diodes, Microelectromechanical systems (MEMS), Solar Cells, and Others
By End-use Industry: Automotive [Passenger vehicles, Light Weight Commercial vehicles, Heavy commercial vehicles], Aerospace & Defense, Electrical & Electronics Industry, Medical, Information & technology Industry, Packaging Industry, Media and Entertainment Industry, Marine, Retail, Government Organizations, Energy, Construction & Architecture, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Denmark, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East and Africa)
- The Asia Pacific is expected to register the highest CAGR of 7.1% during the forecast period (2021-2026). Rapid urbanization and industrialization in emerging economies are supporting market growth.
- DowDuPont is one of the prominent players operating in the global electronic films market. The company has a strong focus on R&D to increase its technology-driven product portfolio. The company is also highly focused on new product developments and expansions in the electronics & imaging segment.
- Growing investments in smart city projects in developed and developing nations are boosting market growth. Rapid changes in technology such as 5G also supporting the market growth.
Figure: Asia Pacific Electronic Films Market Revenue, 2020-2026 (US$ Billion)
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Electronic Films Market Segment Analysis - By Film Type
The non-conductive film type segment is expected to hold the largest market share in the global Electronic Films market and is estimated to grow at a CAGR of 6.1% during the forecast period. Non-conductive films offer significant physical properties such as high-temperature tolerance, negligible moisture absorption, low dielectric constant, and non-flammable properties among others. These films are widely used for developing and manufacturing electronic displays, and PCBs. The high penetration of internet usage is driving the demand for smartphones and smart gadgets which is further driving the market for the non-conductive film segment.
Electronic Films Market Segment Analysis – By Material Type
The polymer segment accounted for
more than 25% of the market share in 2020 and is
estimated to grow significantly during the forecast period 2021-2026. Polymer film
is an emerging material used for the development of electronic films for the electronic
industry. Polymer is one of the widely
available raw materials in the market and can be deposit on various types of
substrates. The cost of polymer films is relatively less compared to other
material types. Polyester, Polyphenylene, Nylon, and Polyamide are some of the
commonly used polymer films among end-users. The growing usage of PCBs in the automotive
sector is propelling the market growth for the polymer films segment. Polymer
films find their usage in several electronic devices, including liquid-crystal
displays, OLEDs, and touchscreens among others.
Electronic Films Market Segment Analysis – By Application
The electronic displays segment accounted
for more than 18% of the market share in 2020
and is estimated to grow significantly during the forecast period 2021-2026. The
growing demand for electronic displays in various applications including
consumer electronics, digital signage, and automation are some of the major
factors driving the market growth for electronic displays. The growing usage of
large screen size LCDs in the residential and commercial industry also
supporting the market growth. The rapid development and changes in display technologies
such as OLED (organic light-emitting diode), QDLED (quantum dot light-emitting
diode), and EPD (electronic paper display) technologies are the key factors
driving the market for electronic films.
Electronic Films Market Segment Analysis – By End-Use Industry
The electrical and electronics industry accounted for more than 20% of the market share in 2020 and is estimated to grow significantly during the forecast period 2021-2026. Electronic films are used for manufacturing electronic displays for TVs, smart mobile, laptops, tablets, and other gadgets. Electronic films are also incorporated in consumer goods and electric goods. The increasing penetration of the Internet of Things (IoT) is one of the major factors driving the market for the electrical & electronics industry. The automotive sector is also expected to hold a significant share in the global market during the forecast period. The growing production of passenger vehicles and also the growing demand for personal vehicle transportation is boosting the automotive sector.
Electronic Films Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the Electronic Films market in 2020 up to 35%, owing to the presence of multiple manufactures and end-users in the region. The presence of developing nations such as China, Japan, South Korea, and India is driving the market growth in the region. The presence of leading manufacturers such as Toray Industries, Gunze, TDK Corporation, Nitto Denko Corporation, and Toyobo Co, Ltd among others are supporting the regional growth. China, Japan, South Korea, and Taiwan are the leading producers of electronic goods in the Asia Pacific region. According to the World Semiconductor Trade Statistics (WSTS), the Japanese semiconductor market generated US$35.9 million in 2019. The North American region is expected to register a moderate growth rate during the forecast period.
Electronic Films Market Drivers:
Increasing demand for tablets, smartphones, and other similar consumer electronic devices
Electronic films are widely used
for the development and manufacturing of electronic displays. Electronic displays are used in smart mobiles
and tablets and TVs among others. An electronic display is a screen used for
the presentation of images, text, or video transmitted electronically. China tops
the global smartphone market in terms of both manufacturing and smartphone
brands. Huawei, Xiaomi, Lenovo, Oppo, and Vivo are the top 5 smartphone brands
manufactured in China. According to the CNET, China smartphone makers occupy
approximately 40% of the global market share. According to data published by the
Direct China Chamber of Commerce (DCCC), smartphone shipments in China reached
over 366 million units in 2019. Based on the India Cellular and Electronics
Association (ICEA), mobile phone production in India reached Rs 2.14 lakh crore
in 2019-2020 as compared with Rs 1.8 lakh crore production in 2018-2019. According
to CAICT, China shipped 21 million smartphones in March 2021 and 21.3 million
in February 2021.
Growing automotive industry
Electronic films are used for
manufacturing electronic displays, printed circuit boards, semiconductors,
electric wires & cables, and integrated circuits among others. These
components find their usage in the automotive industry. The rapid adoption of
OLED panels, along with the advent of autonomous cars are supporting market
growth in the automotive industry. OLED Automotive Display and LCD Automotive
Display are the majorly installed electronic displays in the automotive
industry. According to the data published by ACEA, approximately 18.5 million
motor vehicles were produced in the European Union in 2019. They also mentioned
about 10.8 million passenger cars are produced in the European Union in 2020.
According to the data published by OICA, India produced more than 3.3 million
vehicles in 2020. According to the data published by the U.S. Department of
Energy, approximately 244,000 EVs were sold in the United States in 2019.
High cost associated with ITO based films
Indium tin oxide (ITO) is one of the most widely used
transparent conducting oxides. ITO is used to develop transparent conductive
coatings for various displays such as liquid crystal displays, flat panel
displays, plasma displays, touch panels, and electronic ink applications among
others. ITO films are expensive compared to other films available in the market
space. These films offer excellent optical transparency and high electrical
conductivity. ITO is used in nanotechnology to provide a path to a new
generation of solar cells. ITO costs several times more than aluminum zinc
oxide (AZO) due to its superior properties.
Electronic Films Market Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the Electronic Films
market. Major players in the Electronic Films market are DowDuPont, Toray
Industries, Inc., Gunze Limited, Nitto Denko Corporation, Saint-Gobain, The
Chemours Company, and Toyobo Co., Ltd, TDK Corporation, 3M, and others
- In December 2020, Toray launched Eco-Friendly EcouseR PET Films for electronic applications. The company planned to launch full-fledged sales of the new product after setting up an annual production capacity of 2,500 metric tons.
- In March 2019, DuPont planned to expand its electronic materials in the United States. The company plans to spend US$220 million on expanding capacity for its polyimide (PI) film and flexible circuit materials.
Report Code: CMR 62653
Report Code: CMR 46533
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