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Optic Adhesive Market Size
Optic Adhesive Market size was valued at around USD 2.3 billion in 2022 and is projected to register a CAGR of 5.2% between 2023 and 2032. The increasing adoption of optical devices such as cameras, sensors, displays, and lenses across various industries, including electronics, automotive, medical, and telecommunications, drives the demand for optic adhesives. The expansion of optical communication networks, data centers, and fiber-optic systems creates a need for optic adhesives to secure and protect optical fibers, connectors, and other components.
As electronic devices become more compact and slim, the demand for adhesive materials with excellent bonding and minimal thickness requirements increases, making optic adhesives ideal for these applications.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 2.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.2% |
| 2032 Value Projection: | USD 3.8 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 191 |
| Segments covered: | Type, Application, End-use, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Optical devices often require precise and high-performance adhesives with minimal impact on light transmission, refractive index, and clarity. Optical devices are often exposed to a wide range of temperatures, and optic adhesives must maintain their performance and reliability under varying thermal conditions. Optic adhesives must provide effective protection against moisture, dust, and other environmental factors to ensure the long-term reliability and performance of optical components. Thus, the risks associated with Optic Adhesive may drive down the acceptance rate, further hampering the business growth.
COVID-19 Impact
Industries that are major consumers of optic adhesives, such as electronics, automotive, aerospace, and telecommunications, faced significant disruptions during the pandemic. Reduced demand and postponed projects in these sectors impacted the optic adhesive market. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the optic adhesive industry expansion in the upcoming years.
Optic Adhesive Market Trends
The demand for optic adhesives with high optical clarity, low birefringence, and excellent adhesion to different substrates is increasing, driven by the growing use of optical devices in various industries. The rapid development of advanced display technologies, such as OLED and micro LED, is driving the demand for optic adhesives with high light transmittance and thermal stability. The trend of miniaturization in electronics and optical devices is driving the need for thinner and more precise optic adhesives to accommodate compact and slim designs.
Optic Adhesive Market Analysis
Based on product, the optic adhesive market is segmented as acrylic, silicone, epoxy, cyanoacrylate, other. Electronics held a majority market value of USD 0.8 billion in 2022. Acrylic adhesives offer excellent optical clarity, ensuring minimal interference with light transmission in optical devices and components. Acrylic adhesives have relatively fast curing times, enabling efficient production processes and reducing assembly time in various industries. Moreover, an increasing usage will further accelerate the segmental growth.
Based on application, the optic adhesive market is segmented as electronics, outdoor signage, automotive, others. Electronics held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. The demand for optic adhesives is high in the display industry for bonding LCD, OLED, and microLED panels to ensure precise alignment and optical clarity in various electronic devices, including smartphones, TVs, tablets, and monitors.
Based on application, the optic adhesive market is segmented as Electrical & Electronics, Automotive, Aerospace, Others. Electrical & Electronics held a dominant market share in 2022 and is anticipated to grow at 4.6% CAGR up to 2032. The increasing use of touchscreens in consumer electronics and automotive applications drives the demand for optic adhesives that offer both optical clarity and mechanical stability in touchscreen assembly. Thus, the high-quality services and growing usage of Optic Adhesive at food centres are anticipated to expedite the business demand.
U.S. dominated the North American region with majority optic adhesive market share and a revenue of USD 0.5 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. North America is a hub for advanced electronics manufacturing, including displays, smartphones, tablets, and other consumer electronic devices that utilize optic adhesives for bonding and assembly.
Optic Adhesive Market Share
Some of the major industry players operating in the Optic Adhesive market are :
- Henkel AG & Co. KGaA
- 3M Company
- Dow Inc.
- H.B.Fuller Company
- Shin-Etsu Chemical Co., Ltd.
- Master Bond Inc.
- Dymax Corporation
- Norland Products Inc
- Panacol-Elosol GmbH
- LORD Corporation (now part of Parker Hannifin Corporation)
- Delo Industrial Adhesives
- Permabond Engineering Adhesives Ltd.
- Mactac Industrial Tapes
- Hernon Manufacturing Inc.
- Epotek Inc
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Optic Adhesive Industry News:
- In March 2022, Dymax Corporation made an announcement that it is rebranding its Oligomers & Coatings business as Bomar Specialties LLC.
- In March 2021, Nitto Denko Corporation announced that it is planning to expand its oligonucleotide therapeutic manufacturing business.
Optic adhesive market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
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By Type
- Acrylic
- Silicone
- Epoxy
- Cyanoacrylate
- Other
By Application
- Electronics
- Outdoor Signage
- Automotive
- Others
By End-use
- Electrical & Electronics
- Automotive
- Aerospace
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
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