The global Polarizer Film Market is estimated to reach USD 19.70 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated due to the high use of these films; especially in LCDs. Increase in environmental concerns due to hazards caused by the disposal of electronic products is expected to drive this application segment. Implementation of stringent government regulations in packaging is estimated to be a vital driver of the polarizing film’s market. Similarly, an increase in demand for reflective polarizing films, especially in emerging economies; technological advancements; and rise in R&D activities are also fuelling market growth. Furthermore, the reflective properties offered by polarizing films are propelling the market globally. Based on statistics, increasing demand for mobile phone and television displays, growing demand for larger panel size, increasing penetration of quantum dot displays (QD-LED) for better visibility, and growth in the need for high quality organic light-emitting diode (OLED) displays in smart phones are also significant factors stimulating market demand.
According to RND, the global Aramid Fibers market revenue is expected to expand at a XX% CAGR and reach USD XX billion between 2021 and 2028. Key factors driving global market revenue growth are rapid growth in the materials and chemical industry, increasing usage of perfumes, soaps and wide range of raw materials across various sectors such as healthcare and pharmaceutical, food and beverage, agriculture and paper. Based on type, the type 1 segment is expected to register highest revenue growth during the forecast period owing to rising awareness about green energy, and increasing adoption of eco-friendly and biodegradable products.
Asia Pacific is expected to register fastest revenue CAGR between 2021 and 2028. Rapid revenue growth is attributed to factors such as increasing investments in research and development activities, rapidly growing industrial sector and building and construction sector and high demand for raw material across various sectors.
Further key findings from the report suggest
- In the polarizer film market, the television segment accounts for the largest share of ~31.0% in 2020 because of the growing demand for LED display and larger display size.
- The mobile phone segment is anticipated to observe the highest CAGR of 6.7% in the forecast period boosted by growing demand for smart phones in China, India, and other emerging regions.
- Polarizer films are used as super twisted nematic (STN), thin film transistor (TFT) and twisted nematic (TN) display technologies. TFT film accounts for the largest market share of 42.88% in 2020 due to its winning characteristics of energy efficiency, delivering better resolution and low price.
- The constant change in technology has enhanced the demand for global thin film transistor displays. However, the high cost of manufacturing and less availability of high resolutions TFTs for professional applications are some of the major factors which may affect the market growth.
- Rising trends, which have a direct impact on the dynamics of the polarizer film industry, include development of ultra-thin polarizer film and the development of blue light high transmission polarizer film.
- The high contrast type is expected to grow at the highest CAGR of 6.1% during the forecast period. High Contrast Polarizer is known for increased durability. When unpolarized light penetrates a linear polarizer, the light that is polarized perpendicular to the polarization axis is absorbed, and light parallel to the polarization axis is transmitted.
- APAC is considered to be the second largest market for Polarizer Film with a share of 21.20% in 2020, due to the increasing participation in various sports and enhanced consumption. Europe is estimated to register the highest CAGR of 6.7%, during the forecast period.