Market Research Future (MRFR), in its recently published research report, asserts that the global multilayer transparent conductors market 2020 is growing and poised to expand exponentially over the review period, recording a substantial market valuation of USD 6.3 Billion by 2023, and a healthy 6.3% CAGR in the forecast period.
The major market players operating in the global market as identified by MRFR are 3M Company (U.S.), Nitto Denko Corporation (Japan), Canatu OY (Finland), DuPont Teijin Films (Japan), Fujifilm Holdings Corporation (Japan), Toyobo Co., Ltd. (Japan), Thin Film Devices Inc. (U.S.), Abrisa Technologies (U.S.), Dontech Inc. (U.S.), Eastman Kodak (U.S.) and others.
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Drivers and Restraints
The increasing demand for enhanced displays as well as the growing demand for solar panel are expected to be the primary drivers for the growth of the multilayer transparent conductors market. The rising smartphone sales as well as the thriving consumer electronics industry especially in the developing economies is expected to further drive the growth of the multilayer transparent conductors market. Furthermore, the consumers’ increasing demand for customized design solutions and the growing demand for touchscreen that are lighter, brighter and have state of the art functionalities is projected to support the growth of multilayer transparent conductors market. Additional factors fostering the market growth include increasing population, urbanization, industrialization, and improving economic conditions in the countries globally. Whereas, the cost-effective carbon nanotubes films are rapidly substituting the indium tin oxide films which, consequently decreases the cost of the electronic devices is in due course, leading the growth of multilayer transparent conductors market share.
On the other hand, the high cost associated with the multilayer transparent conductors is likely to impede the development of the multilayer transparent conductors market. Similarly, factors such as the volatility in the demand and supply of the raw materials mandatory for the manufacturing of these conductors are impeding the market growth up to some extent. Efforts are being undertaken towards the development of advanced materials in order to lower down the price of making multilayer transparent conductors. Nevertheless, the growth in the electronics industry, which will employ the high performance multilayer transparent conductors, is anticipated to impact the multilayer transparent conductors market positively.
The global multilayer transparent conductor market share is segmented on the basis of type, material and application.
The market, on the basis of type, is segmented into indium tin oxide thin films (ITO), carbon nanotubes films, nano silver-based transparent conductors, metal grids, and conductive polymers among others.
The market, on the basis of material, is segmented into silver nanowires, metal mesh, ITO on glass, and carbon nanotubes among others.
The market on the basis of application, is segmented into solar cells, photovoltaic, flexible electronics, smart windows, optical coatings, touchscreen sensors, flat panel displays & liquid crystal displays (LCD), and organic light emitting diodes (OLED) among others.
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The geographical analysis of the global multilayer transparent conductor market has been carried out in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East and Africa).
The North American region leads the global multilayer transparent conductors market with the largest market share followed by the Asia Pacific and European region, respectively. The growing demand for these conductors for smartphone displays along with the technological innovations emerging mainly in Canada and the US drives the growth of the region. The region will continue with its lead throughout the assessment period. Whereas, the presence of well-established industry players like Fujifilm Holdings Corporation and Nitto Denko Corporation, among others in the Asia Pacific multilayer transparent conductors market, is estimated to drive the market forward, contributing towards the highest growth rate over the forecast period.
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