Transparent Conductive Films Market - Growth, Trends, and Forecast (2020 - 2025)
NEW YORK, July 2, 2020 /PRNewswire/ -- The global transparent conductive film market is expected to grow with a CAGR greater than 9% during the forecast period. One of the major factors driving the market is the growing demand from the consumer electronics industry. However, the high cost of Indium Tin Oxide is hindering the growth of the market studied.
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- Growing demand from Photovoltaic Industry is another major driver for the market studied
- Asia-Pacific is expected to account for the highest share of the market during the forecast period.
- Among the material types, carbon nanotubes are likely to account for the highest market share during the forecast period.
Key Market Trends
Carbon Nanotubes Material Type to Witness the Highest Growth Rate
- The carbon nanotubes segment has witnessed significant growth in its demand over the past few years.
- Exceptional properties of carbon nanotubes including extraordinary thermal conductivity, superior mechanical strength, better electrical conductivity, and flexibility are some of the reasons for them getting such wide acceptance in the consumer electronics market and are expected to have a severe impact in the coming years to revolutionize the electronics market.
- Moreover, the rising price of indium coupled with its limited geographical availability is also expected to positively impact the carbon nanotubes market during the forecast period.
- Hence, owing to the above-mentioned reasons, the carbon nanotubes material type is likely to witness the highest growth rate during the forecast period.
Asia-Pacific to Dominate the Market
- Currently, Asia-Pacific accounts for the largest market for a transparent conductive film driven primarily owing to the massive electronics manufacturing sector in China.
- Other countries, such as Japan, South Korea, and India too doesn't lag behind and are among the top ten consumer electronics manufacturing countries globally.
- Increasing dependence on electronic products, a growing population are some of the major driving factors for the market studied in this region.
- Additionally, there has been an increasing demand for transparent conductive films in the Southeast Asian countries over the past few years which is likely to boost the Asia-Pacific transparent conductive films market.
- Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.
Competitive Landscape
The global transparent conductive film market is moderately fragmented as the majority of the market share is divided among many players. Some of the key players in the market include 3M, Asahi India Glass Limited, TEIJIN LIMITED, Hitachi Chemical Co., Ltd., and TORAY ADVANCED FILM CO. LTD, among others.
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