CHICAGO, Jan. 4, 2023 /PRNewswire/ -- The global "Optic Adhesives Market by Resin Type (Epoxy, Acrylic, Cyanoacrylate, Silicone), Application (Optical Bonding and Assembly, Lens Bonding Cement, and Fiber Optics), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027", is projected to grow from USD 342 million in 2022 to USD 526 million by 2027, at a CAGR of 9.0% between 2022 and 2027. Acrylic resins offer properties that drive optic adhesives market.
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Silicone is the fastest-growing segment of the overall optic adhesives market.
The many positive properties of silicone adhesives have made them a popular choice for a wide range of applications like camera lenses, AR lenses, optical bonding & assembly, fiber optics, etc. They have a limited pot time of up to a few minutes and moderate cure time, i.e., a few hours. Silicone-based optic adhesives are moderate-to-high-cost adhesives. Their cost depends upon the desired clarity of the finish. Superior physical, chemical, and electrical properties are other advantages, including thermal and oxidative stability and flexibility. Silicone adhesives, however, may sometimes produce a rubbery finish that may not be suitable or desirable for some applications.
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India is the fastest growing segment in Optic adhesives market during the forecast period.
Ongoing global recession is providing an opportunity to regional manufacturers of India as well as for many companies that produce world-class products. The country presents a huge opportunity for IoT owing to its large-scale industrial development, increased mobile and internet penetration, skilled workforce, well-developed software industry, and stable government. It is an untapped market for IoT with vast growth potential. In addition to this, the growing domestic demand for good internet connectivity is also attracting optic adhesive manufacturers to this country. India is among the top 10 emerging economies and one of the world's fastest-growing economies. Different government schemes like The Digital India is expected to increase the penetration of smart devices and internet with giant companies like Google (US) and Facebook (US) lending their technical expertise to its execution. Also, the country has shifted from 2G, 3G, to 4G and now planning to introduce 5G at rural levels. The ever-growing telecommunication infrastructure in the country will propel market opportunities for optic adhesives manufacturers.
Market Players
The key players profiled in the optic adhesives market report are Henkel AG& Co. KGAA (Germany), Dymax Corporation (US), DELO Adhesives (Germany) and others.
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