Barrier Film Flexible Electronics Market – Global Industry Economic Trends, Industry Development, Challenges, Forecast and Strategies to 2025
The major players in the global barrier film flexible electronics market are The 3M Company, Honeywell International Inc., Eastman Chemical Company –Flexvue, Alcan Packaging, Inc., Fraunhofer Polo Alliance, Centre For Process Innovation (CPI) and Beneq Oy. Other prominent market players are Toppan Printing Co. Ltd., Sigma Technologies Int’l, LLC, General Electric and Materion Corp.
Barrier films refer to the flexible barrier layer deployed outside electronic display or electronic components in order to shield them from degrading due to oxygen, water, or other environmental elements. Some electronic devices or components based on photovoltaic principle may react to oxygen or moisture, thereby damaging the device. These films provide versatile application usage and help prolong the life of electronics while being lightweight and robust. These also do not compromise the performance of the device and hold an advantage over traditional forms of protection like glass which are brittle and not flexible. The companies in the market follow the strategy of mergers & acquisitions and innovation while reducing the cost of manufacturing in order to gain market share. The market in the coming years is expected to expand at a substantial rate.
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There are many factors driving the global barrier film flexible electronics market. The growing demand for electronic devices with low response time is expected to be a major driver of the market. Moreover, the increasing disposable income along with the rapid technological developments in electronic devices is expected to further boost the market growth.
There are however some factors that are restraining the market’s growth. High initial investment required to gain economies of scale during manufacturing is expected to be a major restraint of the market throughout the forecast period.
Major opportunities in the market exist with technological advancements in the market. New inventions such as single flexible glass or atomic layer deposition are expected to witness rapid growth in demand in the coming years. Furthermore, the cost of their production is also expected to plunge, thereby opening new avenues for their application.
The global barrier film flexible electronics market can be segmented on the basis of product type, application, and geography. On the basis of product type, the market can be segmented into flexible electronics, photovoltaic and others. The flexible electronics sub-segment can be categorized into flexible display and flexible memory. On the basis of application, the market can be segmented into consumer electronics, automotive, defense & aerospace, medical and healthcare, energy, power & utility and others. Based on application, the medical and healthcare sub-segment is expected to hold major share of the market owing to their various applications in the field.
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On the basis of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a major share of the total market with the U.S. providing most of the revenue due to the presence of key market players. In terms of CAGR, the Asia Pacific market is expected to emerge as the fastest growing. This is owing to the rapidly growing electronics device market in the region. Asia Pacific is also helped by the increasing investments in the market. Low labor and capital cost are expected to help manufacturing activities flourish in the region, thereby helping the barrier film flexible electronics market. Infrastructure developments in countries such as China and India are expected to make them major contributors to the market’s growth in Asia Pacific. Regions like South America and Middle East & Africa are expected to hold a minor share of the market but are expected to make large scale investments in future projects.