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A seemingly ordinary thin film material, it actually plays a core role in key fields such as optical displays, photovoltaic cells, and electronic packaging. Nowadays, the global market size of this material has exceeded tens of billions of yuan and is continuously expanding at an average annual growth rate of over 3%. It is optical polyester film (PET optical film) - a high-performance polymer material with excellent optical properties, outstanding mechanical strength, and good chemical stability. With its comprehensive performance advantages, it has become a crucial core functional material in modern industrial systems.
1、 Optical Polyester Film: A Continuously Advancing Potential Race of Billions
In recent years, the global optical polyester film market has shown a steady growth trend. According to the latest data from QYResearch, the global optical polyester film market size is expected to reach approximately 1.835 billion US dollars in 2024 and is projected to climb to 2.265 billion US dollars by 2031; Between 2025 and 2031, the annual compound annual growth rate (CAGR) of the market is expected to reach 3.1%, with stable growth momentum. Among them, the growth potential of PET optical base film applied to display technology is particularly prominent, becoming an important sub sector driving industry growth.
As a key player in the global optical polyester film industry, China's position is increasingly prominent - it is both a major producer and a core consumer market worldwide. In recent years, the domestic market demand has remained strong and the scale has been continuously expanding.
2、 Three core applications: supporting the growth engine of 70% market share in the industry
Optical polyester film has a wide range of application scenarios, among which the three major fields of optical display, photovoltaics, and electronic packaging together account for about 70% of its total market share, becoming the core driving force for the continuous development of the industry.
Optical Display: Core Application, Defining 'High Definition Texture'
Optical display is the main application market for optical polyester films, covering mainstream display solutions such as liquid crystal displays (LCD), organic light-emitting diodes (OLED), quantum dot display technology (QLED), etc. Among these technologies, PET optical film is the key substrate for core optical components such as polarizer, diffusion film, brightening film, and reflective film, directly determining the clarity, brightness, and color performance of the displayed image.
Photovoltaic field: driven by clean energy, with a significant increase in demand
In solar cells, optical polyester film is mainly used as an encapsulation material and backplate component, which plays an important role in protecting the solar cells and isolating the external environment (such as moisture and high temperature). In recent years, the global demand for clean energy has continued to rise, and the photovoltaic industry has experienced explosive growth, directly driving the expansion of demand for optical polyester films in this field. According to industry predictions, the average annual growth rate of demand for optical polyester films in the photovoltaic field will exceed 10% in the coming years, becoming the second largest growth engine after optical displays and injecting strong momentum into the industry's development.
Electronic packaging: Precision component protection shield
Optical polyester film plays a key role in the insulation protection and packaging of electronic components, especially in the manufacturing of precision electronic components such as MLCC (multi-layer ceramic capacitors), which are widely used in fields such as smartphones, automotive electronics, 5G devices, etc. and require extremely high reliability. This application scenario imposes multiple stringent requirements on materials, including excellent electrical insulation, high-strength mechanical properties, outstanding thermal stability, and precise dimensional stability, to ensure the long-term reliable operation of electronic devices under complex working conditions.
3、 Technological Evolution: The Breakthrough Path from Basic Standards to High end Racing
In recent years, the technological development of optical polyester film has focused on three directions: "improving quality, enhancing performance, and expanding functionality". Significant breakthroughs have been achieved in multiple key indicators, promoting the upgrading of materials from "meeting basic needs" to "adapting to high-end scenarios".
Optical performance: transmittance exceeding 94%, ultra-low haze
Transmittance and haze are the core indicators for measuring the quality of optical films. Early products had a light transmittance of about 80% and a haze of over 2%; After continuous technological iteration, the transmittance of advanced products has been increased to 92%~94%, and some high-end products even exceed 94%, ensuring maximum transmission of light; At the same time, the haze value has significantly decreased to within 0.5%, and high-end products can be controlled below 0.2%, significantly reducing light scattering and achieving a qualitative leap in image transparency and display clarity
Functional Expansion: From Single Substrate to Multi functional Composite Film
With the help of advanced processes such as coating and plating, optical polyester films have achieved diversified functional upgrades: through surface treatment, products with anti glare, anti reflection, high anti reflection and other characteristics have been developed to adapt to different usage scenarios; At the same time, the continuous research and development of a series of functional optical film products such as diffusion films, brightening films, and reflective films has further expanded the application boundaries of PET optical films in high-end displays, photovoltaics, and electronics, significantly increasing the added value of products.
Weather resistance: adaptable to extreme environments, extended lifespan
For outdoor application scenarios such as photovoltaic backsheet, the industry has significantly enhanced the weather resistance of polyester film through copolymerization modification, introduction of weather resistant additives, and multi-layer composite technology. Even in harsh environments such as high temperature, high humidity, and strong ultraviolet radiation, the material can maintain stable performance and significantly extend its service life, providing key guarantees for the long-term reliable operation of outdoor industries such as photovoltaics.
4、 Market pattern: International giants monopolize the high-end market, while domestic forces accelerate their breakthrough
The current global optical polyester film market presents a pattern of "oligopoly dominance and high concentration", while the Chinese market is in a stage of "diversified competition and accelerated domestic substitution", forming a sharp contrast between the two.
Global market: Five major manufacturers monopolize market share
Worldwide, companies such as Mitsubishi Polyester Film, TORAY, TOYOBO, Teijin Limited, and SKC are in a leading position in the market, with the top five manufacturers accounting for over 75% of the market share, indicating a high degree of industry concentration.
Among them, Japanese companies have long dominated the global high-end optical film market with decades of technological accumulation and continuous innovation capabilities in the field of polymer materials. Especially in the field of high value-added products such as display base films, Japanese companies have an absolute advantage with better optical performance and more stable quality, becoming the main target for domestic enterprises to catch up with.
Chinese market: rise of local enterprises
The competition pattern in the Chinese optical polyester film market is more diverse: both international giants participate in competition through localized production, and a group of rapidly growing local enterprises have emerged, such as Hefei Lekai, Dongcai Technology, Jiangsu Yuxing, Ningbo Changyang Technology, Double Star New Materials, Aerospace Rainbow, and Stick.
In recent years, domestic manufacturers have continuously increased their R&D investment and made breakthroughs in the field of high-end products. Some enterprises have achieved mass production of products such as base films for mid to high end displays and photovoltaic backsheet films, with performance close to the international first-class level, and are accelerating the process of import substitution. However, the total market share of the top ten enterprises in the current Chinese market is about 40%, and the overall concentration is much lower than the global level, reflecting that the domestic market is still in the stage of "rapid development and fierce competition". The scale of enterprises is generally small and has not yet formed a monopoly pattern, which also provides broad development space and market opportunities for emerging local enterprises.
5、 Future Trends: Technology, Scenarios, and Environmental Protection as the Three Drivers for Domestic Replacement in the Critical Period
In the future, the optical polyester film industry will enter a new stage of parallel "technological upgrading, scene expansion, and green development". The global market demand is expected to maintain steady growth, and domestic enterprises will also usher in more breakthrough opportunities.
Performance Upgrade: Moving towards "Higher Definition, More Composite"
To adapt to ultra-high definition and high dynamic range (HDR) display technology, optical films will continue to optimize towards "higher transmittance and lower haze"; At the same time, through process integration, multiple functions such as anti reflection, anti glare, anti fingerprint, and antibacterial are achieved, promoting the transformation of products from "single optical substrates" to "multifunctional composite films" and further enhancing added value.
Scenario expansion: Emerging technologies open up incremental space
With the accelerated implementation of new display technologies such as Mini LED, Micro LED, flexible display, foldable screen, and AR/VR, optical polyester film will usher in more segmented application scenarios (such as bending resistant base film for foldable screens and high transmittance anti reflection film for AR/VR devices); In the field of new energy, the continuous expansion of the photovoltaic industry and the popularization of energy storage systems will further drive the demand for high weather resistance, high reliability packaging and backplate materials; In addition, the evolution of electronic packaging towards high density and miniaturization has also created new growth points for the application of optical films in high-end electronic components.
Green Development: Environmental Protection Becomes the Core Competitiveness
The tightening of global environmental policies and the popularization of sustainable development concepts are driving the industry towards a "green" transformation: on the one hand, enterprises will increase research and development of bio based polyester and biodegradable polyester materials, reducing dependence on traditional petroleum based raw materials; On the other hand, by improving production processes, energy consumption and volatile organic compounds (VOCs) emissions can be reduced, while enhancing the recyclability and recycling rate of the film. Green manufacturing is not only a response to policy requirements, but will also become a core component of a company's long-term competitiveness.
Market growth: domestic substitution accelerates
Overall, the global market demand for optical polyester films is expected to maintain a compound annual growth rate of 3% to 6%, driven by continuous expansion in the three major fields of display, photovoltaics, and electronics. Although international giants still dominate the high-end market, with the continuous investment of domestic enterprises in technological breakthroughs, capacity expansion, and quality stability, the process of domestic substitution is expected to accelerate further, and the global industrial landscape may usher in a new transformation dominated by "Chinese power" in the future.
