The Global Electronic Films Market size is expected to reach $11.9 billion by 2027, rising at a market growth of 6.9% CAGR during the forecast period. Electronic films improve screen clarity by providing various advantages such as low coefficient of friction, optical transparency, chemical resistance, moisture resistance, conductivity, high-temperature tolerance, low dielectric constant, UV & weather resistance, high insulation, flammable properties, fouling resistance, and protecting electronic devices. These above properties of electronic films improve the durability of product and performance. Moreover, there are various applications like semiconductors, electronic display, and PCB’s which use these electronic films.
These applications like semiconductors, electric displays, circuit boards, and others use electric and electronic appliances as electronic film technology. An electronics film is commonly utilized in an electronic display application, due to its large surface area for excessive utilization of electronic films. Moreover, these electronic films are bifurcated into thin and thick films. Thick films are mainly used over a printed circuit board; therefore, the electronic film market is expected to provide massive growth opportunities during the forecast period.
COVID-19 Impact Analysis
The electronic film market has been badly impacted due to the covid-19 pandemic. In various regions, the production has been delayed due to the unavailability of skilled workers and raw material as there was partial and permanent lockdown which has eventually hampered the growth of the market. There has been an increase in the adoption of advanced electronic display and printed circuit board equipment of manufacturing and industrial sectors across the globe which has resulted in boosting the growth of the electric film market. Moreover, due to the covid-19 pandemic, the demand for electronic-based applications has been hindered.
There are various electronic films such as PET, ETFE; Copper films are highly required in the displays of tablets, smartphones, and other electronic devices. Moreover, PTE cells are also needed for electronic solar cell displays and to secure the optics from ecological aspects like dust, abrasion, or heat and to improve light transmission and reflectivity. The market is growing to the high demand for non-conductive films from manufacturers of PCBs, electronic displays, and semiconductors. There has been the deployment of 5G in china by 2020 and digital signage has been adopted which eventually results in increasing demand for electronic displays and PCBs.
Film Type Outlook
Based on Film Type, the market is segmented into Non-Conductive and Conductive. Conductive films may increase the chances of accidental discharge and short circuits in the machinery. The demand for conductive electronic film is substantially increasing the demand for electronic displays.
Material Outlook
Based on Material, the market is segmented into Polymer, ITO on Glass, Metal Mesh and Others. The largest segment is polymers, which are light and affordable. They also have the advantage of not being conductive. Other notable characteristics of these materials are high-temperature tolerance, low friction coefficient, and exceptional durability.
Thickness Outlook
Based on Thickness, the market is segmented into Thick (More than 1μm) and Thin (Up to 1 μm). The Thick (More than 1μm) market dominated the Global Electronic Films Market by Thickness 2020, and is expected to continue to be a dominant market till 2027; growing at a CAGR of 6.2 % during the forecast period. The Thin (Up to 1 μm) market is expected to witness highest CAGR of 8.8% during (2021 - 2027).
Application Outlook
Based on Application, the market is segmented into Electronic Display, PCB, Wire & Cable, Smart Buildings and Others. Electronic display captured the greatest market share for Electronic Films due to its vast application possibilities. The industry is being propelled by the increasing use of electronic display displays in advertising and billboards. Electronic Paper Display, OLED, LED, and QDLED are just a few of the new technologies that are expanding the growth of the market.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, Asia Pacific was the world's largest manufacturers of electrical and electronic equipment. Many advanced technologies in the field are dominated by countries like China, Japan, and South Korea. It was the greatest market for electronic films due to its enormous population and expanding middle class. The area is likely to continue to lead the worldwide market in the coming years and to be the largest market for this industry.
Cardinal Matrix - Electronic Films Market Competition Analysis
The major strategies followed by the market participants are Mergers & Acquisitions. Based on the Analysis presented in the Cardinal matrix; 3M is the major forerunner in the Electronic Films Market. Companies such as Saint-Gobain Group, TDK Corporation, and Mitsubishi Chemical Holdings Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Saint-Gobain Group, TDK Corporation, 3M Company, Daikin Industries, Ltd., Mitsubishi Chemical Holdings Corporation, Toray Industries, Inc., Eastman Chemical Company, Nitto Denko Corporation, Dontech, Inc., and Canatu Oy.
Recent Strategies Deployed in Electronic Films Market
Partnerships, Collaborations, and Agreements:
- Nov-2020: Eastman formed a partnership with Gruppo Maip, a leading international plastics formulator and compound producer. This partnership aimed to formulate the latest sustainable polymer solutions for automotive interior applications to fulfill company's aggressive targets for sustainable content & substitute of petroleum-based materials.
- Sep-2019: Toray Advanced Composite signed a tier 1 membership with the National Composites Centre (NCC). This membership aimed to utilize the world-leading facilities & capabilities of the Centre as part of their research & development strategy. Toray Advanced Composites is expected to continue the key R&D program on thermoplastics composites made with the TenCate team, along with that, Toray is expected to work with the NCC to carve out its future research direction with other Tier 1 industry members.
Acquisitions and Mergers:
- May-2021: Mitsubishi Chemical Corporation (MCC) took over Nakai Industrial Co., a film coating manufacturer, and converted the company into a consolidated subsidiary. This acquisition aimed to boost MCC's undertakings by expanding its processing technologies.
- Apr-2021: Mitsubishi Chemical America merged its seven subsidiaries in the US to make an expanded & integrated company. These subsidiaries included Mitsubishi Chemical Imaging Corporation, Lucite International, Mitsubishi Chemical Performance Polymers, MC Ionic Solutions US, Mitsubishi Chemical Composites America, Dianal America, and Mitsubishi Polyester Film. The key businesses of the merging subsidiaries involve polyester film, acrylic monomers, performance polymers, specialty resins, battery materials, imaging materials, and metal composites.
- Feb-2020: Mitsubishi Chemical Holdings America acquired all the assets of AdvanSource Biomaterials Corp., a world-class materials company. This acquisition aimed to expand the business and portfolio of Mitsubishi Chemical Holdings America.
- Jul-2018: Mitsubishi Chemical Corporation (MCC) took over PT. ABC Plastindo, a PVC compound company. This acquisition focused on expanding the MCC's business into the automotive & electronic cable fields across the booming ASEAN region.
- Jul-2017: Saint-Gobain took over TekBond, a leading player in the Brazilian adhesives market. This acquisition aimed to enable Saint-Gobain in Brazil to make crucial synergies with the abrasives, mortars, and flat glass business segments on the construction & industrial markets.
- May-2017: TDK Corporation acquired InvenSense, provider of the MotionTracking sensor system on chip (SoC). This acquisition aimed to expand TDK's sensor products and technology portfolio.
Product Launches and Product Expansions:
- May-2021: TDK Corporation launched the latest DC link capacitors with very low ESL. This low ESR value becomes stable even at high switching frequencies of 100 kHz, and at the same time, the low parasitic coefficients prohibit substantial voltage overshoots whenever high currents are switched off.
- Dec-2020: Toray Industries introduced Ecouse polyethylene terephthalate (PET) films. The company constructed a recycling system by gathering used films from electronic component applications and recovering eco-friendly films that assist in materializing a sustainable economy. In addition, the company aimed to release full-fledged sales of the latest product after establishing an annual production capacity of 2,500 metric tons.
- Apr-2017: Saint-Gobain unveiled an ultra-wide-web coater for reactive sputtering at its manufacturing unit in San Diego, California. It is a technique for depositing thin layers of metals, ceramics, and oxides onto films. It is expected to enable the company to improve NORFILM’s offerings to deliver high-quality and highly engineered products to users.
Geographical Expansions:
- May-2020: Toray Industries expanded its production capacity for Torayfan oriented polypropylene film for automotive capacitors by 60% at its Tsuchiura Plant in Ibaraki Prefecture in 2022. This expansion aimed to capitalize on the expanding market for electric vehicles.
- Sep-2019: PT MC PET Film Indonesia, a wholly-owned subsidiary of Mitsubishi Chemical Corporation, is expanding its business by building a new facility. This facility is expected to boost its polyester film production capacity. In addition, MFI is expected to invest about 130 million U.S. dollars in the new facility.
- Jul-2019: Toray Industries expanded its new production facility for battery separator films (BSF) for lithium-ion batteries (LiBs) in Nyergesújfalu, northern Hungary. This new production plant is aligned with Toray’s strategy to manufacture locally and is under the company’s medium-term management program that looks forward to expanding high value-added products for business growth.
- Feb-2019: Toray Plastics expanded its business by investing in a new, state-of-the-art 8.7-meter polypropylene film line. This investment aimed to expand and automate production capabilities to fulfill customer demand and sustain its leadership position. In addition, the new capacity is aimed at the label, medical, packaging, and industrial applications.
Scope of the Study
Market Segments Covered in the Report:
By Film Type
- Non-Conductive
- Conductive
By Material
- Polymer
- ITO on Glass
- Metal Mesh
- Others
By Thickness
- Thick (More than 1μm)
- Thin (Up to 1 μm)
By Application
- Electronic Display
- PCB
- Wire & Cable
- Smart Buildings
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Saint-Gobain Group
- TDK Corporation
- 3M Company
- Daikin Industries, Ltd.
- Mitsubishi Chemical Holdings Corporation
- Toray Industries, Inc.
- Eastman Chemical Company
- Nitto Denko Corporation
- Dontech, Inc.
- Canatu Oy
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Table of Contents
Companies Mentioned
- Saint-Gobain Group
- TDK Corporation
- 3M Company
- Daikin Industries, Ltd.
- Mitsubishi Chemical Holdings Corporation
- Toray Industries, Inc.
- Eastman Chemical Company
- Nitto Denko Corporation
- Dontech, Inc.
- Canatu Oy
Methodology
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