by Light enhancement films are optical films used in various applications such as tablets, smart glasses, displays and signage to improve brightness, contrast ratio, view angle and transparency. They are mainly made from materials like polyethylene terephthalate and triacetyl cellulose which have high optical transparency and durability. The films allow efficient control and management of light through precise manipulation of brightness, reflection and transmission properties.
The Global Light Enhancement Film Market is estimated to be valued at US$ 221.8 Mn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the light enhancement film market are 3M, Boyd, Nitto Denko Corporation, Kessler Optics and Photonics Solutions, Fusion Optix, Luminit LLC., Mitsubishi Chemical Corporation, Rina Technology Co.Ltd., Riverdi Sp. z o.o., and Yongtek. The demand for light enhancement films is growing significantly owing to the rapid adoption of optical films in various electronic device displays and rising implementation in automotive lighting applications. Major market players are expanding their production capacities and geographical footprint to cater to the growing global demand.
The growing demand in the market is attributable to factors such as rising demand for high-quality displays from electronics and wearable device manufacturers and increasing focus on energy-efficient lighting solutions. Signage, automotive and consumer electronic product manufacturers are widely adopting optical films to enhance productivity, efficiency and deliver enriched visual experiences to users.
Key market players are focusing on expanding their geographical presence by setting up manufacturing units across Asia Pacific, North America, Europe and other regions. For instance, 3M has enhanced its production of optical films across China, South Korea and Europe. Nitto Denko also increased the lightguide plate production capacity in China. This global expansion allows companies to cater to the rising local and international demand.
Market Key Trends
Thin-film technology is one of the key trends being observed in the Light Enhancement Film Market Demand. Companies are developing extremely thin optical films without compromising on performance. For example, Luminit’s light shaping film is only 30 micrometers thick but can efficiently deliver high brightness. Such thin-film solutions allow lightweight, flexible and minimal form-factor integration into various devices. Their mass production also promises cost-effectiveness.
Porter’s Analysis
Threat of new entrants: New firms struggle due to high initial investments required for production.
Bargaining power of buyers: Buyers have low bargaining power as there are no close substitutes to light enhancement films.
Bargaining power of suppliers: Suppliers have moderate power due to specialized skills required however presence of several suppliers prevents monopoly.
Threat of new substitutes: Substitutes like light guides offer competition but are not widely adopted yet.
Competitive rivalry: Intense competition exists among established players to gain market share through innovation.
Geographical Regions
Asia Pacific dominated the Light Enhancement Film Market Size And Trends in terms of value in 2024 owing to large electronics production base and high demand from consumer electronics sector in China, Japan, South Korea and Taiwan. North America is expected to grow at the fastest pace during the forecast period driven by high expenditure on advanced displays in healthcare, consumer electronics and transportation industries in the US and Canada.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn
