Hard Coating Film Market - Forecast(2023 - 2028)

Report Code: CMR 1475 Report Format: PDF + Excel

Hard Coating Film Market Overview

The Hard Coating Film market size is forecast to reach US$782.7 million by 2027, after growing at a CAGR of 5.2% during the forecast period 2022-2027. The hard coating in polycarbonate film and polyester film provides chemical and abrasion resistance, as well as anti-glare, anti-graffiti and anti-microbial properties. The use of hard coating films is increasing over soft coating films because they have various critical qualities such as high scratch resistant, high transparency and more; these benefits result in greater hardness of products. The electrical and electronics industries are propelling the hard coating film market forward. Furthermore, the rising global automotive manufacturing is driving up demand for displays, screen panels and other components. The surging demand for these products is expected to boost demand for hard coating film, which will accelerate market growth in the upcoming years. However, in 2020, the Covid-19 pandemic caused ripples in the hard coating market growth. In 2021, the ease of Covid-19-related regulations resulted in the surge in the production of products, including electronics, automotive and more. This, in turn, accelerated the market growth. 

Report Coverage 

The report: "Hard Coating Film Market Report Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Hard Coating Film industry. 

By Type: Polyester Film, Polycarbonate Film, Tantalum Carbide Film, Polyimide Film and Others.
By Application: Building Material, Touch Screen Panels, Switches, Displays, Automotive Interior Parts and Others.
By End-Use Industry: Electrical and Electronics (Smartphones, Computers, Liquid Crystal Displays (LCD), Refrigerators and Others), Building and Construction (Residential, Commercial and Industrial), Automotive (Passenger Vehicle (PV), Light Commercial Vehicle (LCV) and Heavy Commercial Vehicle (HCV)), Aerospace (Commercial, Military and Others) and Others.
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways 

  • Asia-Pacific region dominated the Hard Coating Film industry, owing to the surging liquid crystal displays industry in the region. For instance, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the total LCD production in Japan was ¥1,028,255 million (US$9,636.81 million) and in 2021 it was ¥ 1,074,371 million (US$9,785.37 million), an increase of 4.5%. 
  • The growing use of hard coating polyester film to protect product surfaces from scratches and direct contact with the outside environment is driving the market growth. 
  • Moreover, the surging application of the hard coating film in the display is also fueling the hard coating market growth. 
  • However, the environmental concerns regarding the utilization of polyester film, polycarbonate film and more in hard coating films are expected to restrict the market growth during the projected forecast period of 2022-2027.

Figure: Asia-Pacific Hard Coating Film Market Revenue, 2021-2027 (US$ Million)

Hard Coating Film Market

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Hard Coating Film Market Segment Analysis – By Application 

The display segment held the largest portion of the Hard Coating Film market share in 2021 and is forecasted to grow at a CAGR of 5.4% during the forecast period 2022-2027.The hard coating film is used in displays because the endurance and optical properties of polyester (PET) and polycarbonate (PC) films provide a superior basis for high precision roll-to-roll (R2R) display coating film application. Thus, using hard coating film in display ensures a long shelf life. Moreover, the hard coating film has superior properties such as anti microbial coating, anti glare and more; the properties like these ensure the higher aesthetic appeal of the display. Thus, due to these beneficial properties of the hard coating film, the adoption of the hard coating film in displays is surging, which is leading to market growth. 

Hard Coating Film Market Segment Analysis – By End-Use Industry 

The electrical and electronics segment held the largest portion of the Hard Coating Film market share in 2021 and is forecasted to grow at a CAGR of 5.8% during the forecast period 2022-2027.The hard coating film is utilized in various electronics products such as smartphones, computers, liquid crystal displays and more to protect the display, touchscreen and other essential components from scratches, deteriorating impact of the external environment and more. The surging technological advancements, expanding facilities related to electronics and more are key determinants for the growth of the electrical and electronics industry. For instance, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2019, the total production by the global electronics industry was US$2,926.8 billion and in 2020 it was US3,033.7 billion, an increase of about 4%. Hence, the surging electronics production is fueling the demand for displays, touch panels and more. The demand surge for such electronic applications will fuel the demand for hard coating films, which will propel hard coating film market size in the coming few years. 

Hard Coating Film Market Segment Analysis –By Geography 

Asia-Pacific region is the dominating region as it held the largest portion of the Hard Coating Film market share in 2021 up to 42%. The sectoral growth of Asia-Pacific economies is been fueled by the growth of the various industries such as electrical & electronics, building & construction, automotive and more. Factors such as government policies aiding the electronics industry, emerging economies, technological advancement and more factors are vital for the growth of the electrical and electronics industries growth in the Asia-Pacific. For instance, in April 2020, the Indian government implemented Production Linked Incentive Scheme (PLI) for the electronic and electrical industry to increase the electronics industry production. Moreover, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2020 the total electronics production in Japan was ¥9,964,769 million (US$93,389.82 million) and in 2021 it was ¥10,954,346 million (US$99,772.18 million), an increase of 9.9%. Therefore, the growth of the electrical and electronics industry in Asia-Pacific is accelerating the hard coating film market size. This, in turn, is spurring the market growth. 

Hard Coating Film Market Drivers 

Growing Automotive Industry 

In the automotive industry, Hard Coating Film is employed in the interior of the vehicles, such as vehicle electronics, display, driver information and more to ensure high clarity and protect the vehicle electronics from damage. The global automotive industry is growing due to the factors such as increasing disposable income, the rapid pace of industrialization and more. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2020, the worldwide automotive production was 77,711,725 units and in 2021, it was 80,154,988 units, an increase of approximately 3%. Also, in 2020, the worldwide passenger cars were 55,908,989 units and in 2021, it was 57,054,295 units, an increase of 2%. Thus, the growing automotive industry is boosting the demand for hard coating film, which, in turn, is driving the market growth. 

Surging Adoption of Hard Coating Polyester Films

Hard Coating Polyester Film is used to protect the surface of devices that can be damaged by scratching and direct contact with the outside environment. Hard coating polyester film is scratch and abrasion-resistant. Thus, end customers prefer hard coating polyester film due to its strong chemical resistance and ease of cleaning. Moreover, the printability of film on coating, which aids in product promotion, is projected to drive demand for hard coating polyester film. Hard coating polyester film is self-repairing and pleasant to use or touch. Hence, due to these features of hard coating polyester films are often utilized in the display, automotive interior devices and other devices. Therefore, owing to these features of hard coating polyester film enhance the durability of the products. This is leading to the surging demand for hard coating films, which is aiding the market growth. 

Hard Coating Film Market Challenges 

Negative Environment Impact of Hard Coating Films

The materials such as polyester film, polycarbonate film, cyclo olefin polymer, and more have advantages of higher durability, owing to this the shelf life of Hard Coating Film enhances. Nonetheless, on the other hand, plastic landfills are growing as a result of the mass production of plastic-based hard coating films. For instance, according to the United Nations Environment Programme, just 9% of plastic is recycled, with the rest ending up in landfills, dumps and the environment. Governments have developed film recycling standards and procedures, which have an impact on the hard coating film business. For instance, the Devolved Administrations and the UK government, for example, are both devoted to environmental protection and have shown a strong desire to adopt extended producer responsibility for the packaging, which would require them to fund the cost of plastic film disposal. Thus, such environmental concerns are impacting market growth. 

Hard Coating Film Industry Outlook 

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Hard Coating Film industry. Top 10 companies in the Hard Coating Film industry are: 

  1. Toray 
  2. FUJICOPIAN 
  3. HYNT 
  4. Kimoto 
  5. Gunze 
  6. SKC Films 
  7. Vampire Coating 
  8. Arisawa Mfg.
  9. Lintec Corporation 
  10. Tekra 

Relevant Reports 

1. Hard Coating Film Market - Overview
    1.1 Definitions and Scope
2. Hard Coating Film Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Hard Coating Film Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Hard Coating Film Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment 
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Hard Coating Film Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Hard Coating Film Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Hard Coating Film Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Hard Coating Film Market - By Type (Market Size – US$ Million/Billion)
    8.1 Polyester Film
    8.2 Polycarbonate Film
    8.3 Tantalum Carbide Film
    8.4 Polyimide Film
    8.5 Others
9. Hard Coating Film Market - By Application (Market Size – US$ Million/Billion)
    9.1 Building Material
    9.2 Touch Screen Panels
    9.3 Switches
    9.4 Displays
    9.5 Automotive Interior Parts
    9.6 Others
10. Hard Coating Film Market - By End-Use Industry(Market Size - US$ Million/Billion)
    10.1 Electrical and Electronics
        10.1.1 Smartphones
        10.1.2 Computers
        10.1.3 Liquid Crystal Displays (LCD)
        10.1.4 Refrigerators
        10.1.5 Others
    10.2 Building and Construction
        10.2.1 Residential
        10.2.2 Commercial
        10.2.3 Industrial
    10.3 Automotive
        10.3.1 Passenger Vehicle (PV)
        10.3.2 Light Commercial Vehicle (LCV)
        10.3.3 Heavy Commercial Vehicle (HCV)
    10.4 Aerospace
        10.4.1 Commercial
        10.4.2 Military
        10.4.3 Others
    10.5 Others
11. Hard Coating Film Market - By Geography (Market Size - US$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Hard Coating Film Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Hard Coating Film Market – Industry / Segment Competition landscape Premium Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application Industry - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Hard Coating Film Market – Key Company List by Country Premium Premium
15. Hard Coating FilmMarketCompany Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."