Transparent Conductive Films Market Insights and Industry Analysis by Material (Carbon Nanotubes, Metal Mesh, Silver Nanowire, Indium Tin Oxide on PET, Indium Tin Oxide on Glass), Application (Notebooks, Tablets, Wearable Devices, LCD) and Region, Competitive Market Size, Share, Trends, and Forecast to 2030
New York, USA, 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 - Forecast till 2030”, the market is estimated to grow at a 10.7% CAGR to reach USD 12.10 Billion by 2030.
A range of opto-electronic devices, such as touchscreens, LCDs, and OLEDs, electrochromic glass, solar panels, and more, use transparent conductive films, thin films comprised of optically transparent and electrically conducting materials. Most of these films are produced using indium tin oxide (ITO). The additional components used to create transparent conductive films include oxides, thin metal films, carbon nanotubes, silver nanowires, and conductive polymers.
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Material, Product, End-User Industry and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
The falling cost of smartphones, increased acceptance of touch UI interface devices
Increased demand for tablet PCs and notebooks
Some of the prominent players in the Global Transparent Conductive Films Market are
ILJIN display Co., Ltd (South Korea)
Hitachi Chemical Company, Ltd. (Japan)
The market is being driven by the rising use of transparent conductive films for touch panels in wearable technology. Transparent conductive films are ideal for light control windows and organic photovoltaics due to their reduced resistance and flexibility. Transparent conductive films in prototype dashboards are anticipated to grow in popularity as the demand for entertainment systems and human-machine interfaces in automobiles increases. The market is anticipated to grow as transparent conductive coatings are used more frequently on steering wheels, seatbacks, car control panels, and entertainment panels. Rapid technical advancement and rising end-user demand, particularly in the area of consumer electronics, have compelled OEMs to frequently release new goods on the market.
The primary factors driving this market are smartphones' declining costs, users' growing adoption of touch UI devices, low power consumption, lessened reflection, thinness, flexibility, and resilience. Lack of a universally applicable solution and the abundance of options for a single application are the two key factors restricting market growth. Displays and photovoltaic applications have a lot of promise for TCF applications in the years to come. In addition, rising demand for notebooks and tablet PCs will drive the market throughout the projection period.
However, the numerous challenges connected with producing transparent conductive films and the high operational costs related to conductive film production may significantly restrain the market's rate of expansion. On the other hand, changes in the price of raw materials throughout the forecast period may hinder the market for transparent conductive films.
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The electronics and semiconductor industries have suffered severely as a result of the COVID-19 epidemic. Due to a spike in COVID-19 cases in 2021, businesses and production facilities worldwide were forced to close, and it is anticipated that they will stay closed into the second quarter of 2022. Additionally, a partial or total shutdown has damaged the world's supply chain, making it difficult for manufacturers to reach their customers.
The COVID-19 epidemic is having an effect on society and the global economy. The effects of this outbreak are spreading daily and are impacting both the global economy and business in general. The issue is leading to decreased corporate confidence, a significant slowdown in the supply chain, and escalating consumer concern in addition to causing uncertainty in the stock market.
Due to the closure of manufacturing facilities, countries in Asia and Europe that are under lockdown have seen significant losses in revenue and business. The COVID-19 disease epidemic has had a significant impact on production and manufacturing operations, which has further hampered market growth for transparent conductive films.
The COVID-19 epidemic has also had an effect on the electronics industry, as production facilities have been halted. The market opportunity for transparent conductive films is hampered by the significant production disruption across Europe and the suspension of Chinese part exports. It is anticipated that once the economy starts to recover, demand for novel and cutting-edge items could increase. Companies are eager to invest in cutting-edge items that use new technology because they anticipate that doing so will increase their goodwill after customer demand soars.
Due to its high mechanical strength, conductivity, and temperature resistance qualities, the metal mesh segment is anticipated to see a large CAGR.
The increased reliance of consumers on smart gadgets for entertainment, information, healthcare, and fitness is expected to boost the CAGR for the wearable devices market.
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Asia-Pacific dominated the transparent conductive films market in 2020, and is predicted to exhibit high growth rate during the forecast period, owing to expansion in the automotive segment. By the conclusion of the projected period, significant growth is also anticipated in LAMEA, followed by Asia-Pacific. The market for transparent conductive films is dominated by the Asia-Pacific region because of the rise in demand for consumer electronics in China for a variety of uses. Because of the high production rate of touch-enabled devices, particularly in China and Japan, the Asia-Pacific region is anticipated to grow at the highest growth rate during the forecast period of 2021 to 2028. Due to its simple and sophisticated manufacture of transparent conductive films made from materials of the highest quality, China is currently driving the growth of the Asia-Pacific market.
The U.S. is the market leader in North America as a result of the region's expanding use of transparent conductive films for photovoltaic applications, while Germany is the market leader in Europe as a result of the low power consumption of these materials, which drives up demand there.
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