Market Overview
The Global Barrier Films Flexible Electronics Market is projected to reach a market value of
USD 40.6 million by the end of 2023 and is further anticipated to grow to a market value of
USD 199.9 million by 2032, at a
CAGR of 19.4%.
Global Barrier Films Flexible Electronics Market refers to a worldwide market that specializes in the production of protective films that are used as a barrier in flexible electronic devices. They protect the electronic device and its components from environmental factors such as moisture, air & water. These films are used in a variety of industries ranging from consumer electronics, and healthcare to automotive and defense. Barrier films are used in aircraft and military devices like GPS trackers and drones where lightweight and durable electronic systems are required.
The use of barrier films is not only limited to the military and automotive industry it is also significantly used in the healthcare industry. In this industry, it is used in medical devices like ECG machines and Glucometer. Previously many major manufacturing companies were using metal, glass and plastic substrates, but the flexible barrier films offer even better benefits than them as they not only block moisture and keep the devices safe but also more cost-effective.
Market Dynamic
Various factors significantly impact the growth, trends and overall dynamic of the Global Barrier Films Flexible Electronics market. The ongoing research and launch of new products in flexible electronics and barrier films drive the market growth. The growing demand for waterproof flexible accessories such as fitness trackers and smartwatches significantly contribute to the market growth. As the consumer electronic sector is expanding the demand for flexible display is becoming more common. These barrier films protect the electric circuit and components of electronic devices from air, dust and water therefore, they are being used in medical devices, sensors, smartphones, smartwatches and digital cameras.
In addition to the growth prospects this market also faces certain challenges such as stringent rules, regulations & guidelines introduced by the government for the development of barrier films with improved environmental credentials that’s why many major industries around the world are now focusing on the development of the product that meets the consumer and regulatory demands. During a recent pandemic, this market faced economic restraints as the market saw fluctuations in demand & supply. As this market grows, the competition among the manufacturers of barrier film flexible electronics will intensify and that will lead to an improvement in both product quality and market presence.
Research Scope and Analysis
By Product
The products segment of the global barrier films flexible electronics market is categorized into flexible electronics, photovoltaics and more, of which the flexible electronics segment is dominating the market share for the overall market in 2023, and is also undergoing rapid growth which is anticipated to remain consistent throughout the forecasted period. Barrier films are an essential component in the production of flexible electronics. This segment usually refers to electronic devices that are flexible and bendable in various shapes to a certain extent like flexible displays, wearables, smartphones, medical devices & in automotive industry. Moreover, another reason behind the popularity of this segment is its lightweight, portability, durability and adaptability as the barrier films can be customized according to the demand of the manufacturer.
By Application
In application Segment, the Global Barrier Films Flexible Electronic Market serves different industries such as consumer electronics, hospitals & healthcare, energy, etc. In this segment, consumer electronics holds the largest market share as barrier films are crucial for electronic devices such as smartphones, wearables, laptops & tablets. The Barrier films are used in these electronic devices as they keep them safe from various environmental factors such as water, heat and air.
Moreover, barrier films also play a vital role in the medical & healthcare industry as this industry also has a significant share in the market dynamics. In the medical industry barrier films are used in diagnostic equipment, medical sensors and health monitors such as ECG Monitors, Glucometers, Pulse Trackers and integrated activewear. These films help protect sensitive electronic devices and ensure flexibility and biocompatibility.
The Global Barrier Films Flexible Electronics Market Report is segmented on the basis of the following:
By Product
• Flexible Electronics
• Photovoltaic
• Others
By Application
• Consumer Electronics
• Automotive
• Defense & Aerospace
• Medical & Healthcare
• Energy
• Power & Utility
• Others
Regional Analysis
North American region has firmly secured a significant market share, contributing 30.7% of the total revenue, and is anticipated to show subsequent growth in the forecasted period of 2023-2032, mainly driven by the growing demand for Barrier Films in the consumer electronics & automotive industry. The reason that this region holds a significant portion of the market is that it is seeing sudden growth in its solar panel industry as the governments and environmental organization in this region is putting pressure to reduce their carbon footprint.
Solar panels serve as the best alternative as in recent times flexible solar panels have been in trend. This positively affects the growth of the global barrier films flexible electronic market as the barrier films are an essential component of flexible solar panels.
Additionally, Asia-Pacific is also showing great potential in this market as it is also expected to hold a subsequent amount of market share. The reason behind the Asia-Pacific's growth potential in the upcoming years is due to the availability of cheap labour, low capital costs & an extensive consumer base.
By Region
North America
• The U.S.
• Canada
Europe
• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe
Asia-Pacific
• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America
Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA
Competitive Landscape
The Global Barrier Films Flexible Electronic Market is experiencing consolidation, with a few key players shaping the industry landscape. The Global E-Book Display Market has many key players who hold a significant portion of the market. These companies utilize inorganic & organic strategies for their market expansion. The inorganic strategies include research and development of new products and innovation while the organic strategies deal with partnerships, mergers & acquisitions.
Furthermore, these mergers & partnerships further boost their market position and pave the way for the expansion of the market conditions. The major key players in the Global Barrier Films Flexible Electronics Market are 3M Company, Amcor Plc, Beneq, Eastman Chemical Company, Fraunhofer-Gesellschaft, Polo Alliance, Honeywell International Inc., Materion Corporation, Sigma Technologies, Alcan Packaging, Tera-Barrier Films Pte Ltd, Toppan Printing Co. Ltd. And others.
Some of the prominent players in the Global Barrier Films Flexible Electronics Market are:
• 3M Company
• Amcor Plc
• Beneq
• Eastman Chemical Company
• Fraunhofer-Gesellschaft Polo Alliance
• Honeywell International Inc.,
• Materion Corporation
• Sigma Technologies
• Alcan Packaging
• Tera-Barrier Films Pte Ltd,
• Toppan Printing Co. Ltd.
• Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Barrier Films Flexible Electronics Market:
The COVID 19 pandemic had affected many industries around the globe, including the Global Barrier Films Flexible Electronics Market. The pandemic affected this market in various ways it disrupted the manufacturing process as the market was facing a shortage of raw materials. The import-export restrictions and lockdown led to delays in the demand & supply process that negatively affected the Global Barrier Films Flexible Electronics Market. Various industries such as consumer electronics, aerospace & automotive which hold a significant portion of this market saw a decrease in demand for their product due to the pandemic and subsequent economic recession.
Moreover, on the positive side pandemic shifted the focus of the masses towards healthcare technologies, which positively contributed to the growth of the Global Barrier Films Flexible Electronics Market. In the healthcare sector, barrier films are used in monitors, medical sensors & devices. It is important to note that even if the start of the pandemic disrupted the market, now the market is recovering & adapting to the shortcomings it faced during the pandemic.
Report Characteristics |
Market Size (2023) |
USD 40.6 Mn |
Forecast Value (2032) |
USD 199.9 Mn |
CAGR (2023-2032) |
19.4% |
Historical Data |
2017 - 2022 |
Forecast Data |
2023 - 2032 |
Base Year |
2022 |
Estimate Year |
2023 |
Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
Segments Covered |
By Product (Flexible Electronics, Photovoltaic and
others), By Application (Consumer Electronics,
Automotive, Defense & Aerospace, Medical &
Healthcare, Energy, Power & Utility and others) |
Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
Prominent Players |
3M Company, Amcor Plc, Beneq, Eastman Chemical
Company, Fraunhofer-Gesellschaft, Polo Alliance,
Honeywell International Inc., Materion Corporation,
Sigma Technologies, Alcan Packaging, Tera-Barrier
Films Pte Ltd, Toppan Printing Co. Ltd and Other Key
Players |
Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The barrier films have many applications as they are used in flexible solar panels, flexible electronic
devices, and smart wearable devices.
The Global Barrier Films Flexible Electronics Market is expected to reach a market value of USD 40.6
million by the end of 2023, and even more significant expansion is anticipated in the period from 2023
to 2032, where it is expected to grow to a market value of USD 199.9 million at a CAGR of 19.4%.
In recent times the use of nanotechnology in the manufacturing process of Global Barrier Films Flexible
Electronics has increased as they offer better results as they offer tinner & more flexible barrier films.
The major key players in the Global Barrier Films Flexible Electronics Market are 3M Company, Amcor
Plc, Beneq, Eastman Chemical Company, Fraunhofer-Gesellschaft, Polo Alliance, Honeywell International
Inc., Materion Corporation, Sigma Technologies, Alcan Packaging, Tera-Barrier Films Pte Ltd, Toppan
Printing Co. Ltd. And others.