Optic Adhesives Market to be Dominated by Aerospace Industry Applicability Through 2028
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. A significant factor
fueling the growth of the Optic Adhesives market is increasing due to the 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 adhesive 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, the 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, defence, 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 the 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 low cure temperature, it results in zero volatility as well as low cost and
is available in various form.
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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