Polarizing Film Market 2023 Outline New Developments with Operational Updates in Industry Forecast 2030

 

A polarizing film is an optical film that allows the display to show its image by controlling the amount of light. The film lets light waves of a specific polarization pass and block light waves of other polarizations. Its performance is an important factor affecting the image quality of the screen. Polarizing films are made by dyeing film using polyvinyl alcohol (PVA). Polarizing films can maintain performance and quality of film for long period. They are used to increase the visibility of the image, by polarizing light so that it has a constant and precisely defined direction. Demand for polarizing films is expected to increase due to increasing usage of mobile phones around the world, especially in the Asia Pacific.

According to the India Brand Equity Foundation (IBEF), in 2019, India had nearly 502 million smartphone users and the number is expected to reach 780 million in 2021. Moreover, the number of smartphone users worldwide forecasted to exceed to 3.8 billion users in 2021. Thus, with the increasing number of users, the demand for smartphones is also increasing worldwide, augmenting the growth of the polarizing film market. However, the availability of alternatives and fluctuating prices of raw materials are the major factors negatively affect the growth of the market. The polarizing film market is growing due to the increasing demand for large display panels for smartphone and television applications.

Demand for polarizing films has increased significantly due to the increasing utilization of these films, especially in LCD displays. Polarizing films are widely used in automotive display, signage/large format display, laptops, desktop monitors, tablets, smartphones, and television. Recognizing letters and graphics without the polarizers would be impossible. A polarizing film is one of the core elements of LCD and OLED technology that enables display of images on LCD and OLED screen. Increasing adoption of polarizing film in LCD and LED is the key reason for the increasing demand for polarizing film in the television. Moreover, increase in demand for larger television units is supporting the growth of the market.

Strict government regulations are also expected to play an important role in the growth of the polarizing film market. Moreover, factors such as rise in research and development activities, technological advancements, and increasing demand for reflective polarizing films are also driving the market growth. While, introduction of cheaper substitutes and volatility in prices of raw materials are the major factors hampering the growth of the polarizing film market.