According to a new report, published by KBV research, The Global Optical Film Market size is expected to reach $32.2 billion by 2028, rising at a market growth of 7.5% CAGR during the forecast period.
The Television segment is leading the Global Optical Film Market by Application in 2021, thereby, achieving a market value of $10.6 billion by 2028. The demand for television has been on the rise as people stayed at home, ultimately increasing the requirement for online entertainment. During the projected period, the market's growth is likely to be fueled by this expanding demand for television. According to a report released by LG Display in May 2021, the demand for TV panels increased in tandem with the growth in television sales during the pandemic.
The Backlight Unit segment is showcasing a CAGR of 7.7% during (2022 - 2028). A form of optical film utilized as an integral part of LCD screens is the optical film for the backlight unit. It can be developed to provide a variety of capabilities depending on the applications, such as reflecting, brightness enhancement, and diffuser qualities that are employed in specific products.
The Asia Pacific market dominated the Global Optical Film Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12.1 billion by 2028. The Europe market is estimated to witness a CAGR of 7% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 6.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/optical-film-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toray Industries, Inc., 3M Company, Nitto Denko Corporation, LG Chem Ltd. (LG Corporation), Sumitomo Chemical Co., Ltd., Samsung SDI Co., Ltd. (Samsung Electronics Group), Hyosung Chemical, Zeon Corporation, UFO Digital Solutions Pty Ltd., and PRONAT Industries Ltd.
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