PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555766
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555766
The market for Transparent Conductive Films was projected to reach USD 6,514.6 million in 2023 and expand at a CAGR of 8.50% between 2024 - 2032.
Electrochemically transparent, thin layers with electrical conductivity are called transparent conductive films. Light may travel through them, and electric currents can condense more easily since they are usually made of materials such as indium tin oxide (ITO). Requiring both transparency and conductivity, these films are found to be used in solar cells, flexible electronics, touchscreens, and other related technologies.
Transparent Conductive Films Market- Market Dynamics
Growing Adoption from the Electronic Sector
Transparent conductive films are becoming more and more popular due to the growing need for touch-screen gadgets, flexible electronics, and government initiatives to promote energy efficiency. For instance, Samsung Display declared in June 2023 that it was creating a new transparent conductive material based on carbon nanotubes. The company claims that compared to existing films, the new film will be more conductive and transparent. Specialized conductive film versions have been required for new and inventive product designs made possible by the advancements in foldable and rollable screens.
Transparent Conductive Films Market- Key Insights
According to our research analyst's analysis, the global market is projected to expand at a CAGR of approximately 8.50% during the forecast period of 2024-2032.
On the basis of material, the ITO on glass category was projected to have the largest market share in 2023.
On the basis of application, the smartphones category emerged as the top segment in 2023.
Asia Pacific held the largest revenue share by region in 2023.
The Transparent Conductive Films Market is segmented into Material, Application, and Region.
On the basis of material, the market is segmented into Carbon Nanotubes, ITO on Glass, ITO on PET, Metal Mesh, Silver Nanowires, and Others. With a significant revenue share of 30% in 2023, the ITO on glass segment is expected to dominate the transparent conductive films market because of its established presence and dependability across a range of applications. However, it will be challenging for this market to expand at the same rate as other alternative materials due to the high cost of indium production and its restricted supply. Market participants are concentrating on improving performance and making ITO films sustainable in order to address this issue. This is anticipated to create new opportunities in the market moving forward. In October of 2023, for instance, Dai Nippon Printing Co., Ltd. and Microwave Chemical Co., Ltd. announced their latest research on a transparent conductive film that generated silver nanowires at the nanometer level, demonstrating a good balance between high transparency and conductivity, using the microwave irradiation process.
The market is segmented into Smartphones, Notebooks, Wearable Devices, Tablets, LCDS, and Others on the basis of application. Due to the growing sales of various smartphone models and the extensive usage of TCFs in touchscreens and displays, the smartphone segment is predicted to continue to dominate the market and hold a 25% revenue share in 2023. Thin-film electronics are becoming more and more popular in the smartphone industry, as evidenced by a September 2023 research from Azo Materials. They are perfect for applications ranging from foldable screens to wearable health monitors since they are lightweight, flexible, and have cost-effective qualities. For instance, Samsung's flexible OLED screens for foldable smartphones and tablets and smart bandages for drug administration and wound monitoring are some examples.
Transparent Conductive Films Market- Geographical Insights
The Transparent Conductive Films market is widely distributed geographically in North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. These areas are further separated based on the countries that provide business.
Throughout the forecast period, the Asia Pacific region, except for the Japan (APEJ) region, is expected to account for 37% of the market for transparent conductive films. The increased demand for consumer electronics, particularly tablets, smartphones, and wearable technology, is the cause of this development. Population growth, rising disposable incomes, and the uptake of cutting-edge technologies are all predicted to contribute to the continued expansion of the APEJ market. China is seeing rapid technical advancement, a strong manufacturing base, and supporting government policies that are driving the country's market expansion. These advantageous circumstances are being seized by businesses to spur innovation and commercial expansion. A notable illustration of this is the Chinese business Zenithnano, which, in July 2024, created a novel, non-toxic substitute for transparent touchscreens. This occurred as the demand for electric vehicles increased in China, which in turn increased the use of TCFs in touchscreens and displays for automobiles.
In addition, growth in the North American area can be linked to rising OLED and flexible display use in a variety of consumer electronics applications, including TVs, monitors, and smartphones. It also predicts the expanding need for creative and high-performing display solutions, as well as the growing demand for transparent conductive films due to the region's well-established electronics industry. Additionally, as TCFs are essential to the operation of solar panels and smart windows, the market is rising because of the increased focus on sustainability and energy efficiency. The largest market in North America for transparent conductive films is the United States. This supremacy may be ascribed to the developed technological infrastructure, large levels of consumer spending, and the nation's concentration of industry majors. For example, Panasonic Corporation Industry Company used its original roll-to-roll production technology to commercialize a double-sided full-wiring transparent conductive film in February 2022. This will encourage the use of high-performance TCFs in more applications, primarily touch sensors and dashboard displays for cars.
There are a few dominant companies in the highly competitive, transparent conductive films industry. Among the leading businesses in the industry are 3M Company, Dupont Teijin Films, Cambrios Film Solutions Corporation, TDK Corporation, Toyobo Co., Ltd., and others. Businesses participate in product launches, strategic alliances, and sustainability projects in an effort to stay competitive. Innovations in research are essential to increasing funding for transparent conductive film technology. In order to expand their market presence, leading companies in the transparent conductive films sector also use inorganic growth strategies like collaborations, mergers, acquisitions, and creative product launches.
January 2024: In order to increase the production of electronic materials, FUJIFILM Corporation announced a 6-billion-yen investment in its Kumamoto facility.
April 2023: Purdue University researchers have developed patent-pending polymers that, for less money and with more readily available raw ingredients, can be used to make transparent organic conductors with the same characteristics as traditional conductors built from rare-earth minerals.
June 2021: A significant Joint Development Agreement was signed by Canatu and DENSO, a pioneer in mobility provision. By signing this deal, the firms hope to increase Canatu CNT's current output in terms of film manufacturing productivity.
October 2020: Canatu worked with TS TECH, an auto interior supplier. The organizations' goal in working together was to present a solution that combines stunning design with an easy-to-use interface. To further provide this solution, Canatu would combine its distinct, translucent, and bendable Carbon NanoBud film with attractive door trim technology from TS TECH.