Electronic Films Market worth $10.2 billion by 2023 | Key Players include DowDuPont, Toray Industries Inc., Gunze, Nitto Denko Corporation, Saint-Gobain S.A., The Chemours Company, Toyobo Co, Ltd., Teijin Ltd., TDK Corporation, and 3M

According to recent market research "Electronic Films Market by Film Type (Non-Conductive and Conductive), Material Type (Polymer, ITO on Glass, ITO on Pet, and Metal Mesh), Application (Electronic Display, PCB, and Semiconductors), and Region - Global Forecast to 2023", The electronic films market is expected to grow from USD 7.6 billion in 2018 to USD 10.2 billion by 2023, at a CAGR of 6.0% during the forecast period.

The properties of electronic films such as chemical resistance, high-temperature tolerance, low coefficient of friction, optical transparency, conductivity, UV & weather resistance, fouling resistance, moisture resistance, high insulation, non-flammable properties, low surface energy, and low dielectric constant are driving the market.

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The automotive adhesives market is projected to grow from USD 8.1 billion in 2019 to USD 10.7 billion by 2024, at a CAGR of 5.7%, between 2019 and 2024. The Asia Pacific automotive adhesives market is expected to witness significant growth due to the rising requirements for automobiles in the region and shift of production bases of various automobile manufacturers to the region.

Based on applications, the assembly segment in the automotive adhesives market is projected to grow at the highest CAGR during the forecast period, 2019 to 2024. The assembly segment is expected to grow at a higher rate due to the increasing demand for increasing sensors, infotainment systems, interior trims. Automotive adhesives offer excellent adhesion, superior durability, chemical & temperature resistance, and lower shrinkage in bonding wind turbines.

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The use of electronic films is increasing due to its excellent chemical resistance, high-temperature tolerance, low coefficient of friction, optical transparency, conductivity, UV & weather resistance, fouling resistance, moisture resistance, high insulation, non-flammable properties, low surface energy, and low dielectric constant. The electronic films market is expected to grow from USD 7.6 billion in 2018 to USD 10.2 billion by 2023, at a CAGR of 6.0% during the forecast period. The increasing use of electronic films in the electronic display application is bolstering the market, globally.

The electronic films market, by application is divided into four segments, namely, electronic display, PCBs, semiconductors, and others. Semiconductors is expected to be the fastest-growing application, in terms of both value and volume during the forecast period. Electronic films are used in semiconductors for surface protection and encapsulation purpose. The high heat resistance, non-stick properties, and good flexibility at molding temperature make these films suitable for use in semiconductors. Electronic films are widely used in semiconductor manufacturing for high-purity and chemical-resistant moldings.

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DowDuPont is one of the prominent players in the electronic films market. The company has a strong focus on R&D to increase its technology-driven product portfolio. As a part of its growth strategy, the company is highly focused on new product developments and expansions. For instance, in May 2018, the company increased the production capacity of its Kapton polyimide film by up to 20%. This helped the company to meet the high demand for Kapton polyimide film for Interconnect Solutions of the DuPont Electronics & Imaging segment.

Toray Industries Inc. is one of the leading players in the electronic films market. The company provides high-grade electronic films, which is extensively used in the electronics industry. The company has a wide range of electronic film products. As a part of its growth strategy, the company is highly focused on new product launches. For instance, in June 2018, the company launched LUMIRROR biaxially oriented PET film with about 2.5 times higher thermal conductivity of conventional products. It has applications in insulating materials, battery materials, and circuit boards. It helped the company to improve output and safety as a base film of various industrial equipment.

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