Optical Polyester Film Market to Expand with Significant CAGR During 2024

Polyester film is obtained by the extrusion of polyethylene terephthalate. These films when stretched in a single direction along with appropriate processing, forms optical polyester film. Optical polyester film has applications in the optical and optoelectronic field. They are used in display bases, LCD panels, and plasma display panels (PDP). Optical polyester film imparts excellent light transmission due to its mechanical properties and thermal stability. High demand for LCD televisions in Asia Pacific is a key driver for the optical polyester film market. Rapid growth in sale of smartphones in developing economies and the emergence of new technologies such as wearable electronics are anticipated to offer growth opportunities for the optical polyester film market in the near future.

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Optical polyester films witness a high growth rate because demand for flat panel displays including LCD applications is strong. Also, the use of film components for making touch screen panels thinner and lighter is expected to drive the market. However, with technology advancements, LCD screens can be replaced by active matrix organic light-emitting diode (AMOLED) screens in TVs which is a major restraint. The optical polyester film market can be restrained if the film experiences increased temperatures, which effectively increases a film's haze for sensitive applications such as handheld displays.

Reflection film is generally a white film with low specific gravity and high reflectivity. It is used in LCD backlight module. Transparent and adhesive film is a film with adhesion coating on both sides and has high transparency. Therefore, it is suitable for optical and Flat Panel Display (FPD) application. It is also used in label and base films of hard coated films. Transparent and conductive film is a processed film used as electrodes of inorganic electroluminescent (EL) for keypads of mobile phones. Anti-reflection film is produced by wet coating process. It is anti-static, abrasion resistant, and possesses anti-reflection and anti-scratch properties. Anti-reflection film enhances higher transparency on clear display and therefore it is used in LCD, PDP, and touch panels.

Industrial applications of optical polyester films includes PV cells, transcript, and construction materials. Optical polyester films are used in electrical and electronics applications such as flat-panel displays, touch panels, thermal transfer ribbon, optical display, and release film applications. It also has various other applications like building materials, hard coatings, labels, membrane switch, coating and printing.

The global optical polyester films market can be broadly classified based on geography into five key segments - North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Out of all these segments, Asia Pacific has the highest market share, led by China. This high market share attributed to Asia Pacific is due to the increasing demand for LCD televisions, smartphones, tablet PCs, and laptops. The expansion of local production facilities by manufacturers of flat panel display and related materials is expected to drive the market in China. Additional factors such as large population and developing economy drives the market for consumer electronic goods in this region.

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Some of the key players identified in the optical polyester films market include Toray Industries, Inc., Toyobo Co., Ltd., Teijin Limited, Mitsubishi Polyester Film GmbH, SKC Inc., Kolon Industries, Inc., 3M, and Hefei Lucky.

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