Growing demand from Aerospace Industry is expected to drive the Optic Adhesives market in the forecast period 2024-2028. According to TechSci Research report, “Optic Adhesives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2028F”, The global Optic Adhesives market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028.
The Important Factors of the Global Optic Adhesives Market
A significant factor fueling the growth of the Optic Adhesives market is increasing demand from the aerospace industry. This is due to its enhanced durability and optical properties. These adhesives provide high performance even in harsh environments, ranging from dispensable to moldable solutions, and allow design flexibility for displays. The need for optic adhesives is increasing rapidly in developing and emerging countries, with the rising investment by the government in the aerospace & defense industry. The use of optic adhesives is expected to expand in the next years due to increased demand for smart devices like tablets, laptops, LCDs, and smartphones.
The optic adhesive binds the layer in devices to protect them from harsh chemicals, damage, and scratches. Along with this, it helps to improve the mechanical, and optical performance of the display module and device, as well as its readability, viewability, and contrast in both indoor and outdoor devices. For instance, in 2021, smartphone shipments in China reached about 25% of the total volume of global smartphone shipments.
Additionally, optical adhesive is used in the automotive industry as it helps in bonding a protective clear cover screen to an underlying liquid crystal display panel. It removes the air gap between the two layers and provides clear screen visibility. The growth of the optic adhesives market will be fueled by the medical industry due to increasing demand for medical apparatus like USG, MRI, etc. Moreover, the increasing demand for advanced optical components and growing investments in research & development also led the market growth.
Furthermore, the market is being further stimulated by the extensive use of Optic Adhesives in automotive, defense, e-commerce, and household appliances.
However, the harmfulness of adhesives causes a possible threat to manufacturers that can slow down market growth. Also, changes in environmental conditions may lead to catastrophic failures that can further slow down market growth.
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Global Optic Adhesives Market is segmented based on resin type, application, and region.
Based on resin type, the market is categorized into epoxy, acrylic, silicone, cyanoacrylate, and others. Epoxy is expected to hold the largest market share in the forecast period 2024-2028. As Epoxy has a low cure temperature, it results in zero volatility as well as low cost and is available in various forms.
Based on application, the market is segmented into optical bonding & assembly, lens bonding cement, fiber optics, and others. The optical bonding & assembly segment will experience the highest market share during the forecast period. This can be attributed to the demand for smart devices like TVs, LCDs, smartphones, tablets, and laptops.
Major companies operating in the global Optic Adhesives market are:
- Henkel AG & Co. KGAA
- 3M Co.
- Dymax Corporation
- Saint-Gobain S.A.
- Delo Industrial Adhesives LLC
- Parson Adhesives India Private Limited
- Panacol-Elosol GmbH
- DIC Corporation
- Master Bond Inc.
- Nan Pao Resins Chemical Co Ltd
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“Asia Pacific region is expected to grow at the highest rate during the forecast period. Rising growth and increasing investments in the electrical and electronics industry for display and touchscreen applications increase the demand for Optic Adhesives which would likely accelerate market growth. Additionally, in North America, increasing demand for bonding displays, touchscreens, and other automobile applications are the key factors contributing to the market’s long-term growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Optic Adhesives Market-Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Resin Type (Epoxy, Acrylic, Silicone, Cyanoacrylate, Others), By Application (Optical Bonding & Assembly, Lens Bonding Cement, Fiber Optics, Others), By Region and Competition, has evaluated the future growth potential of global Optic Adhesives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Optic Adhesives market.”
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