| Product Code: ETC372084 | Publication Date: Aug 2022 | Product Type: Market Research Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India light diffusion materials market import shipments showed a robust growth trend with a notable CAGR from 2020 to 2024. However, there was a sharp decline in growth rate between 2023 and 2024. Overall, the market expanded significantly during the period, albeit with a slight slowdown towards the end.
The India light diffusion materials market was valued at USD 1.3 billion and is projected to grow at a CAGR of 6% owing primarily to high adoption rate amongst residential customers coupled with ongoing construction activities across different parts of India. The market has been witnessing fast paced technological advancements that have enabled manufacturers produce products which offer better illumination while using low wattage bulbs/LEDs along with lower maintenance costs and longer operational life span. Moreover , increasing awareness about eco friendly solutions among consumers has led them opt for these materials , thus boosting their demand within domestic markets. Polycarbonate sheets accounted for majority share accompanied by PMMA sheets wherein automotive & transportation industry emerged outdominant end user segment utilizing these diffusion materials.
The India light diffusion materials market has been driven by the increasing demand for efficient lighting solutions and advanced displays. These materials play a crucial role in enhancing light distribution, reducing glare, and improving the overall performance of lighting fixtures and electronic displays.
Light diffusion materials face challenges in terms of environmental sustainability and energy efficiency. As consumers demand eco-friendly products, manufacturers need to find sustainable alternatives without compromising on performance.
The demand for light diffusion materials in India declined during the pandemic as industries such as advertising, events, and retail witnessed a downturn. Reduced consumer spending and marketing budgets affected the need for these materials.
In the India light diffusion materials market, significant players like 3M India Ltd., Covestro (India) Pvt. Ltd., and LG Hausys India Pvt. Ltd. have been instrumental in the market`s expansion. They provide advanced light diffusion materials used in various lighting and display technologies.