12 Fastest Declining Industries by 2032

2. Manufacturing and Reproducing Magnetic and Optical Media

Compound Annual Growth rate (2022 – 2032): -4.6%

The magnetic and optical media industry is responsible for the mass production of audio and video tapes, optical disks, hard disk drives, and magnetic tape storage. The industry is expected to decline by 4.6% between the forecasted years of 2022 and 2032. FUJIFILM Holdings Corporation (OTC:FUJIY), was first established as a photographic films business, but the spread of digital technology resulted in declining demand for photographic films. FUJIFILM Holdings Corporation (OTC:FUJIY) was quick to pivot its business operations to in-demand industries such as the semiconductor industry, the medical systems and imaging business, and the electronics materials business. On February 8, Teiichi Goto, President and CEO, Representative Director, stated:

“In the third quarter of fiscal year 2023, we again achieved remarkable milestones with our highest ever sales, operating income and net income, primarily driven by the exceptional performance of the Medical Systems and Imaging businesses. Our proactive measures in the Electronic Materials business, such as the strategic acquisition of Entegris, Inc.’s semiconductor process chemicals business, the startup of the semiconductor materials site in Kumamoto, and further capital investment, demonstrate our anticipation of market recovery in the coming fiscal year from April 2024 and beyond. We are confident that we can maintain this positive momentum, achieve record sales and profits in the fiscal year 2023, and carry this positive energy into the next fiscal year, the first year of our new medium term management plan.”