Polarizing films are made by dyeing film using polyvinyl alcohol (PVA). Polarizing films have characteristics such as heat resistance, which allows light with a certain oscillation direction to pass through it. Polarizing films possess high durability, which is capable of maintaining performance and quality of film for long period. Polarizing film characteristics such as polarizing efficiency, hue and transmittance are useful for functions such as light and stain leakage and reflection control.
Market Dynamics
Key factors such as increasing demand for mobile phones and television displays across the globe is projected to fuel growth of the global polarizing film market over the forecast period. For instance, the Department of Telecommunications India, in 2017, reported that around 92.03 of every 100 citizens use cellphones in India. Owing to increasing usage of mobile phones, demand for polarizing films is expected to increase. A major restraining factor for the market is availability of alternatives such as optical films in the market and fluctuating prices of raw material, which is expected to negatively affect growth of the global polarizing film market.
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Market Outlook
On the basis of application, television segment accounted for the largest market share in polarizing film market in 2017. This is owing to increasing sales of television sets worldwide. Polarizing films are highly efficient and provide advantages such as high display contrast & readability, clear image view, and high surface transmission. According to India Brand Equity Foundation, the television market in India is expected to grow to US$ 11.78 Billion in 2018, from US$ 9.23 Billion in 2016, which accounts for an increase of 12.97% over 2016–2018.
On the basis of product type, LCD displays segment exhibited relatively high growth in the polarizing film market in 2017 and is expected to witness the same trend during the forecast period (2018-2025). Polarizing film is used as a core material which enables displaying of clear images on LCD screens. Moreover, key players in the market are increasing focusing on launching LCD displays for application in various products. For instance, in 2016, Samsung SDI Co., Ltd., company introduced Starem POL, which is a polarizing film that helps to convert unpolarized light into linearly polarized light by transmitting the incident beam, which propagates in one direction.
Asia Pacific is projected to be the fastest-growing region in the market over the forecast period. This is owing to increasing demand for LCD & LED screens in emerging economies of China and India for application in various electronic products. For instance, according to India Brand Equity Foundation (IBEF), in India the production of LCD TVs was valued at US$ 2.54 billion in 2015, which increased to US$ 3.3 billion in 2016. Furthermore, manufacturers of smartphones and tablet PCs in the region are focusing on developing thinner products thus, leading to high demand for thinner and more flexible displays. Therefore, key players are introducing innovative technologies to cater to such demand. For instance, in 2016, Nitto Denko Company introduced new revolutionary Ultra-Thin Polarizers, which are thinner and more resistance to shrinkage applicable in LCD and organic EL (electro luminance) display devices.
Key players
Major players operating in the market include Nitto Denko Corporation., Ltd, 3M Company (US), DowDuPont,EFUN Technology Co., Ltd, Fusion Optix, Gamma Optical Co., LTD., Kolon Industries Inc., Samsung SDI Co. Ltd., and others.
Key players are strategically investing in mergers & acquisitions and joint ventures, in order to expand their presence globally. For instance, in January 2018, Nippon Mektron, Ltd. acquired Nitto Denko (Suzhou) Co., Ltd., to improve its market standing in China.
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