Optically Clear Adhesives Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

According to the report published by Zion Market Research, the global Optically Clear Adhesives Market size was valued at USD 1647.85 Million in 2022 and is predicted to reach USD 3104.71 Million by the end of 2030. The market is expected to grow with a CAGR of 8.23% during the forecast period. The report analyzes the global Optically Clear Adhesives Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the High Performance Wheels industry.

Global Optically Clear Adhesives Market: Overview

Optically clear adhesives are nothing but crystal clear adhesives with liquid-based adhesion technology used for bonding visual clear components. Optically clear adhesive is largely used in contact screens and screen equipment to interface the lens, plastic, or other optical materials. The superior optical and mechanical properties of these optically clear adhesives enhance the longevity of advanced displays. A positive attribute of optically clear adhesives made from acrylic-based resins is that they are extremely strong and efficient at bonding multiple layers of objects together. There are extensive applications for optical bonding in electronic equipment, including microfilms and LOCAs — both liquid and non-liquid. They are majorly used in capacitive commercial screens, 3D TV (3D TV), and glass retardants. Further, it enhances the display optical efficiency by eliminating the gap between the cover glass and the LCD. Thus, they find applications in consumer electronics, mobile phones, LCDs, and outdoor digital signage boards, among other areas.

Global Optically Clear Adhesives Market: Growth Factors

The global optically clear adhesives market is growing at a significant rate owing to continuous growth in the consumer electronics industry across the world. Optically clear adhesives are primarily used in the electronics industry in applications for displays and touch screens. Increasing adoption of smartphones and devices by consumers is the major key driving factor for the optically clear adhesives market growth. In addition to this, factors that are fueling the growth of the global market include constant advancement in electronic products such as high-definition LCDs, smartphones and other automobile products. Further, increasing demand from the automotive sector owing to increased use of displays in driver assistance is projected to enhance the demand of the optically clear adhesive market. However, the presence of cost-effective adhesive substitute products in the market is expected to hinder the growth of the global optically clear adhesives market. On the other hand, technological advancement in the electronics & automotive industry and introduction of highly advanced display devices are anticipated to create advantageous opportunities for the global optically clear adhesives market over the forecast period.

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Across the world, the current COVID-19 epidemic has been distressing various countries and has unenviably affected the overall adhesive manufacturing industry. The optically clear adhesives market growth is directly dependent on the growing demand from consumer electronics, mobile phones, and others. However, the electronics device market is anticipated to be impacted majorly by the COVID-19 outbreak since China is one of the major suppliers of the raw materials required for manufacturing products along with the finished products. The optically clear adhesives as well as the consumer electronics industry are on the edge of facing a reduction in production, disruption in supply, and price variations. Thus, the manufacturing value chain was been affected during the year 2020. However, ease in government impositions and a surge in demand for optically clear adhesives in consumer electronics are expected to propel the growth of the global market during the forecast period.

Global Optically Clear Adhesives Market: Segmentation

The global optically clear adhesives market is segmented based on resin type, device structure, application, end-use, and region. Based on resin type, the global optically clear adhesives market is split into epoxy, silicone, polyurethane, polyvinyl acetate, acrylic, and others. The device structure segment is bifurcated into flat, edge-curved, and others. Automotive, outdoor signage, televisions, monitors, tablets, mobile phones, and others are the applications of optically clear adhesives. The end-user segment consists of electrical & electronics, automotive, aerospace, and others.

Global Optically Clear Adhesives Market: Regional Analysis

Regionally, Asia Pacific region is anticipated to hold the largest share in the global optically clear adhesives market during the forecast period. The surge in the adoption of new technology in electronics devices from emerging countries such as India and China along with wide developing economics are boosting the growth of the market in this region. Moreover, the presence of a large number of manufacturers and consumers of electronic devices in this region is accelerating the market growth. On the other hand, North America region is anticipated to grow at a faster pace and is projected to offer new opportunities for market growth. Some of the factors that are propelling the growth of the market in this region include rapid growth in demand for smart electronic devices such as mobile phones, laptops, LEDs for personal and professional purposes.

Global Optically Clear Adhesives Market: Competitive Players

Chase Corporation
Henkel AG & Co. KGAA
Lintec Corporation
Delo Industrial Adhesive LLC
Dow Inc.
Dymax Corporation
Nitto Denko Corporation
The 3M Company
Show Denko Corporation
Tesa SE

are some of the dominant players that are functioning in the global optically clear adhesives market. The leading players present in the market are focusing on new product launches and enhance their integrity in the market. Furthermore, these manufacturers are investing in partnership & joint ventures and other key strategies to gain a competitive edge in the market.

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