New York, U.S., Sept. 15, 2022 (GLOBE NEWSWIRE) — Transparent Conductive Films Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “transparent conductive films market Information by material, product, end-user industry and region – Forecasts until 2030“, the market is expected to grow at a CAGR of 10.7% to reach $12.10 billion by 2030.
A range of optoelectronic devices, such as touch screens, LCD and OLED displays, electrochromic glass, solar panels, etc., use transparent conductive films, thin films composed of optically transparent and electrically conductive materials. Most of these films are produced using indium tin oxide (ITO). Additional components used to create transparent conductive films include oxides, thin metal films, carbon nanotubes, silver nanowires, and conductive polymers.
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|Market size in 2030||$12.10 billion|
|Year of reference||2021|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By Material, Product, End User Industry and Region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Falling cost of smartphones, increased acceptance of touch user interface devices|
|Increased demand for tablet PCs and laptops|
Some of the major players in the global transparent conductive films market are
- Nitto Denko Corporation (Japan)
- Teijin Ltd (Japan)
- TDK Corporation (Japan)
- Toyobo Co., Ltd (Japan)
- Gunze (Japan)
- Cambrios Technologies Corporation (USA)
- Canatu OY (Finland)
- C3nano (China)
- Dontech Inc (USA)
- Chasm Technologies, Inc (USA)
- ILJIN display Co., Ltd (South Korea)
- Hitachi Chemical Company, Ltd. (Japan)
- Evaporated Coatings, Inc (USA)
- Eikos Inc (USA)
- Max Film, Inc (India)
The market is driven by the increasing use of transparent conductive films for touch screens in wearable technology. Transparent conductive films are ideal for light control windows and organic photovoltaics due to their reduced strength and flexibility. Transparent conductive films in prototype dashboards are expected to grow in popularity as demand for entertainment systems and human-machine interfaces in automobiles increases. The market is expected to grow as transparent conductive coatings are used more frequently on steering wheels, seat backs, car control panels and entertainment panels. Rapid technical advancements and growing end-user demand, especially in consumer electronics, have forced OEMs to launch new products frequently in the market.
The major factors driving this market are falling cost of smartphones, increasing user adoption of touch UI devices, low power consumption, reduced reflection, thinness, flexibility and resilience. Lack of a universally applicable solution and abundance of options for a single application are the two major factors limiting the growth of the market. Photovoltaic screens and applications hold great promise for TCF applications in the coming years. Additionally, the growing demand for laptops and tablets will drive the market throughout the projection period.
However, the many challenges associated with the production of transparent conductive films and the high operational costs associated with the production of conductive films can significantly limit the rate of market expansion. On the other hand, the development of raw material price throughout the forecast period may hamper the transparent conductive films market.
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Analysis of COVID-19
The electronics and semiconductor industries have suffered greatly from the COVID-19 outbreak. Due to a spike in COVID-19 cases in 2021, businesses and production facilities around the world have been forced to close, and are expected to remain closed until the second quarter of 2022. , a partial or total shutdown has damaged global supply. chain, making it difficult for manufacturers to reach their customers.
The COVID-19 outbreak is having an effect on society and the global economy. The effects of this epidemic are spreading daily and impacting both the global economy and businesses in general. The issue is leading to declining business confidence, a significant slowdown in the supply chain and growing consumer anxiety, in addition to causing uncertainty in the stock market.
Due to the closure of manufacturing plants, countries in Asia and Europe that are under lockdown have experienced significant losses in revenue and business. The COVID-19 disease outbreak has had a significant impact on the production and manufacturing operations, which has further hampered the growth of the transparent conductive films market.
The COVID-19 outbreak has also had an effect on the electronics industry as production facilities have been shut down. The market opportunity for transparent conductive films is hampered by the significant disruption of production across Europe and the suspension of Chinese parts exports. It is predicted that once the economy begins to recover, demand for new and cutting-edge items may increase. Businesses are eager to invest in cutting-edge items that use new technologies, as they anticipate that it will increase their goodwill after the increase in customer demand.
Due to its high qualities of mechanical strength, conductivity, and temperature resistance, the wire mesh segment is expected to witness a significant CAGR.
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Increased consumer reliance on smart gadgets for entertainment, information, healthcare and fitness is expected to drive the wearable device market CAGR.
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Asia-Pacific dominated the transparent conductive films market in 2020 and is expected to exhibit high growth rate over the forecast period, owing to the expansion of the automotive segment. At the end of the projected period, significant growth is also expected in LAMEA, followed by Asia-Pacific. The transparent conductive films market is dominated by the Asia-Pacific region owing to the increase in demand for consumer electronics in China for a variety of uses. Due to the high production rate of touch devices, especially in China and Japan, the Asia-Pacific region is expected to experience the highest growth rate during the forecast period from 2021 to 2028. Due to its simple and sophisticated manufacturing of transparent conductive film devices made from the highest quality materials, China is currently driving the growth of the Asia-Pacific market.
The United States is the market leader in North America due to the region’s growing use of transparent conductive films for photovoltaic applications, while Germany is the market leader in Europe due to low consumption energy from these materials, which is driving the demand there. .
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