TRANSPARENT CONDUCTIVE FILMS MARKET - NEW REVENUE POCKETS

The transparent conductive films market is expected to reach USD 8.46 billion by 2026, at a CAGR of 9.4% from 2016 to 2026. Growth in this market can be attributed to the increasing demand for transparent conductive films for smartphones, tablets, LCDs, notebooks, and wearable devices, among others. Transparent conductive films, owing to their excellent properties such as high conductivity, low resistance, and high transparency are widely used in various electronic components.

Based on application, the transparent conductive films market has been segmented into smartphones, tablets, LCDs, notebooks, wearable devices, and others, which includes desktop PC and monitors.  The LCDs segment is expected to grow at the highest rate during the forecast period. This growth can be attributed to the significant demand for large screen display units from Asia-Pacific and Europe regions, and use of transparent conductive films in smartphones, notebooks, and wearable devices.

The Asia-Pacific transparent conductive films market is expected to grow at the highest CAGR between 2016 and 2026. The transparent conductive films market in the Asia-Pacific region has been studied for China, Japan, and India. The market in the region is witnessing increased consumption of transparent conductive films for use in smartphones, notebooks, and LCDs. A transparent conductive film is used as a thin film in different applications such as smartphones and tablets. Increasing investments in the production of flat panel display units have led to rise in demand for LCDs. In wearable devices, transparent conductive films are used in smartwatches. Shifting of trends and health awareness are the main reasons for rise in use of wearable devices.

Key manufacturers in the transparent conductive films market have their production units mainly in APAC, and sales offices in Europe, South America, and North America. The U.S. is the largest market for transparent conductive films in the North America region. Moreover, the transparent conductive films market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for transparent conductive films for various applications such as smartphones, tablets, and LCDs in this region. Major manufacturers and suppliers of transparent conductive films are expanding their capacities to reduce the turnaround time and enhance efficiency of product development.

Major market players covered in the report are Teijin Ltd (Japan), Toyobo Co., Ltd (Japan), Nitto Denko Corporation (Japan), TDK Corporation (Japan ), Canatu Oy (Finland), Cambrios Technologies Corporation (U.S.), C3Nano (U.S.), Gunze (Japan), Dontech Inc. (U.S.), and Blue Nano Inc. (U.S.).

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Macroeconomic Overview of Polyurethane Foam Market by 2023

The polyurethane foam market is estimated to be USD 54.19 billion in 2018 and is projected to reach USD 79.77 billion by 2023, at a CAGR of 8.0% from 2018 to 2023. Polyurethane foam is a widely used polymer and plastic. It is composed of a chain of organic units joined by urethane links. Polyurethane foam is commonly formed by reacting a di- or polyisocyanate with a polyol and is available in flexible, rigid, and spray forms.

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The growth of the polyurethane foam market is primarily driven by the rising demand for polyurethane foam from the building & construction industry. Polyurethane foam is also used in the bedding & furniture, electronics, automotive, and packaging industries. However, polyurethane foam is expensive due to the fluctuating raw material prices, which act as a major restraint for the market.

BASF SE (Germany), Covestro (Germany), The Dow Chemical Company (US), and Huntsman Corporation (US) are key players operating in the polyurethane foam market. These companies are focused on broadening their product portfolios to compete with other players and expanding their customer base.

BASF is a leading supplier of polyurethane solutions for systems, specialties, and PU basic products. The company has a global network of 39 polyurethane system houses with a comprehensive product and service portfolio. BASF provides immediate local support for technical services as well as sales, production, and marketing support during the development of customized solutions. Over the years, BASF has secured its market position as a leading producer of polyurethane products.

In January 2018, BASF established a new MDI synthesis unit in Geismar, Louisiana. MDI is a basic raw material for polyurethanes. The annual capacity of MDI will increase from 300,000 metric tons to 600,000 metric tons. In November 2017, BASF expanded its manufacturing capacity of Cellasto and ceased thermoplastic polyurethane manufacturing at its Dahej plant in Gujarat. This expansion strategy enabled the company to cater to the automotive market for both, 2 wheeler and 4 wheeler vehicles in India.

Covestro is one of the leading manufacturers of premium polymers. The company is engaged in various business activities that focus mainly on the manufacture of high-tech polymer materials and the development of innovative solutions. It has adopted key growth strategies, such as expansions and new product launches to strengthen its foothold in the polyurethane foam market. In December 2017, Covestro invested approximately USD 220 million to expand its operations at the Tarragona site by 2020. This expansion strategy enabled the company to increase its MDI production capacity from 50,000 metric tons to 220,000 metric tons per year. In June 2016, Covestro introduced a new product, Bayseal CCX closed-cell Spray Polyurethane Foam (SPF) insulation. It is an ideal insulation material for residential and commercial projects.

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