The Optical Adhesives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Optical Adhesives Global Market Report 2024, The optical adhesives market size has grown strongly in recent years. It will grow from $2.02 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased incidence of optic atrophy, rise in neurological disorders, patient awareness and education, expansion of healthcare infrastructure, collaboration in neurological care.
The optical adhesives market size is expected to see strong growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to growing aging population, personalized medicine approaches, global initiatives in rare disease management, focus on neuroprotection, patient support and advocacy.. Major trends in the forecast period include personalized treatment approaches, advancements in neuroprotection therapies, focus on regenerative therapies, integration of wearable technologies, collaborations for genetic research, teleophthalmology services.
The expansion of the aerospace industry is expected to propel the growth of the optical adhesives market going forward. The aerospace industry refers to both public organizations and private companies dedicated to the research, technology, and production of products related to flight. Optical adhesives are used in aerospace applications for bonding lenses, prisms, mirrors, and optical fibers. These adhesives are designed to provide low strain, optical clarity, and low outgassing, which are required in military, aerospace, and fiber optics. For instance, in November 2022, according to the Aerospace Industries Association’s 2022 Facts & Figures Data, a US-based Aerospace and defense organization, in 2021, the combined sales revenue for the US Aerospace & Defense (A&D) sector reached $892 billion, marking a 2.1% growth from 2020. Furthermore, exports from the A&D industry increased by 11.2% between 2020 and 2021, amounting to $100.4 billion. Therefore, the expansion of the aerospace industry is driving the growth of the optical adhesives market.
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The optical adhesives market covered in this report is segmented –
1) By Type: Acrylic, Silicone, Epoxy, Cyanoacrylate, Other Types
2) By Application: Optical Bonding And Assembly, Lens Bonding Cement, Fiber Optics, Other Applications
3) By End-Use: Electrical And Electronics, Automotive, Aerospace, Other End-Uses
Major companies operating in the optical adhesives market are focusing on innovative products such as high-quality optical bonding epoxy adhesives to provide innovative and high-performance solutions for the chip testing and packaging industry. High-quality optical bonding epoxy adhesives are specialized adhesive materials formulated for precision bonding and optical clarity in applications where the adhesion of optical components, such as lenses, displays, touchscreens, and filters. For instance, in May 2023, DeepMaterial Co. Ltd., a China-based industrial adhesives company, introduced two new products, underfill epoxy and one-component epoxy adhesive, which are designed to create strong bonds, provide surface protection, and meet the demanding requirements of semiconductor and electronics applications. Underfill epoxy is designed to protect electronic components from damage caused by mechanical stress by creating a strong and durable bond, making it essential in the manufacturing of electronic devices such as smartphones, laptops, and other portable devices. It offers a range of adhesive products for various applications, including electronic adhesives, conductive silver glue, and epoxy underfill adhesive.
The optical adhesives market report table of contents includes:
1. Executive Summary
2. Optical Adhesives Market Characteristics
3. Optical Adhesives Market Trends And Strategies
4. Optical Adhesives Market – Macro Economic Scenario
5. Global Optical Adhesives Market Size and Growth
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26. South America Optical Adhesives Market
27. Brazil Optical Adhesives Market
28. Middle East Optical Adhesives Market
29. Africa Optical Adhesives Market
30. Optical Adhesives Market Competitive Landscape And Company Profiles
Top Major Players:
- Dow Inc
- Saint-Gobain S.A
- 3M Company
- Henkel AG & Co. KGAA
- Shin-Etsu Chemical Co., Ltd
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