Viscosity Reducing Film Market Size, Share, Growth and Industry Analysis by Type (UV Viscosity Reducing Film, Thermal Viscosity Reducing Film), By Application (Semiconductor, Consumer Electronics, And Others), Regional Forecast To 2031

Updated On: 08 April 2024

Viscosity Reducing Film Market REPORT OVERVIEW

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The global viscosity reducing film market size is anticipated to be worth USD 494 million in 2021.As per our research, the market is projected to touch USD 1097.99 million by 2031 with a CAGR of 8.3% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The state of being thick, semi-fluid, and, sticky in its consistency is called viscosity. This is caused due to internal friction. It is also the measure of its resistance to deformation at a given rate. There are some films that help in reducing the viscosity and they are called as viscosity reducing films.

Many advancements and discoveries are being made in the market. These advancements have led to the growth of the market in the recent years. The introduction of viscosity index improver polymers is one such new discovery in the market that is considered as the latest trend. The new kind of films that are being used are much effective and efficient compared to the other ones. The demand for these films is increasing globally. Rise in the disposable income of the people also act as a major factor driving the market growth.

COVID-19 Impact: Decline in The Polymer Industry Decreased the Market Share

The pandemic of COVID-19 brought down the global economy. Many industries were badly affected and suffered due to the low demand. Because of the sudden lockdown and the restrictions that were imposed during the pandemic there was a significant decrease in the share of the polymer industry.

Viscosity reducing films are mainly used in the field of polymers. The main purpose of using these films is to reduce the friction and viscosity. They play a very crucial role in the smooth flow of fluids. Because of the decline in the value of the polymer industry, the viscosity reducing films also saw a steep decline during the pandemic. However, post pandemic when all the restrictions were removed there has been a boom in the market and it is also anticipated to grow substantially during the forecast period.

LATEST TRENDS

"Introduction Of Viscosity Index Improver Polymers to Increase the Market Growth"

The Viscosity reducing films market has seen a drastic growth and expansion after the pandemic majorly because of its huge application in the polymers industry. There are many innovations and advancements that are seen in the market. The introduction of viscosity index improver polymers is one such new discovery in the market that is considered as the latest trend.

The new kind of films that are being used are much effective and efficient compared to the other ones. These are technologically advanced and can cause consumption upgrading in the polymer industry. These are considered the latest innovations in the market recently.

Viscosity Reducing Film Market SEGMENTATION

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• By Type

The market can be divided on the basis of type into the following segments:

UV viscosity reducing film, thermal viscosity reducing film.  UV viscosity reducing film segment is anticipated to dominate the market during the forecast period.

• By Application

Based on application, the market share is bifurcated into the following segments:

Semiconductor, consumer electronics, and others. The semiconductor segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"High Viscosity Absorbing Capacity of These Films to Amplify the Market Growth"

There has been a boom in the market after the pandemic. The industry is also expected to witness a rapid growth during the forecast period. This will in turn increase the market growth. Many factors have contributed to the growth of the industry in the recent years.

Key players in the market have taken a step further to increase their investments and fundings, especially in the polymer industry. This in turn has brought out many improvements. Also, the high absorbing capacity of the films to reduce viscosity is increasing the demand for these films. These films are capable of absorbing the molecules of polymer on metal surfaces reducing the viscosity. This has been a major driving factor for amplifying the Viscosity reducing film market growth.

"The Ability of These Films to Reduce Friction Along with Viscosity to Impede Market Growth"

The viscosity reducing films are not only helpful in reducing viscosity, but they also help reducing the friction between surfaces that can cause damages. These films are able to separate the rubbing surface in both the rolling as well as the sliding contacts.

This results in decrease in the friction even at higher temperatures when the amount of friction generated is high. As a result, there has been an upsurge in the market. These collectively act as factors driving the viscosity reducing film market share.

RESTRAINING FACTOR

"High Cost of These Films and Polymers to Bring Down the Market Share"

The high cost of viscosity reducing films acts as a major disadvantage for the growth of the market. This industry is directly dependent on the polymer market. As a result, the high cost of polymers will negatively impact the market share.

 A lot of money is also required for the proper maintenance of these films. Also, these films are not useful for daily uses and has to be bought only by the industries. This is also one of the factors restraining the market growth.

Viscosity Reducing Film Market Regional Insights

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"Asia Pacific to Dominate Market Share Owing to Increased Investments"

The region that is observed to lead the market during the forecast period is Asia Pacific. Followed by Asia Pacific is North-America. There are several reasons that have been attributed to the growth of the market in Asia Pacific.

The major factor contributing to the market development in this region is the increasing technological advancements. Many new innovations are being seen in the viscosity reducing film market, with China being the top country. Presence of the key industry players and huge investments coming in are yet other factors promoting increased market share. All of these factors are collectively contributing to the market growth in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Jiangyin Tongli Optoelectronic Technology (China)
• Kunshan Aisen Semi-Conductor Materials (China)
• Ningbo Hughstar Advanced Material Technology (China)
• Hongqing Technology (China)
• Dongxuda (China)
• Meixin Electronics (China)
• Suzhou Dingzheng Electronic Technology (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations