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
The global optic adhesives market size was valued at USD 342 million in 2022 and is projected to reach USD 526 million by 2027, growing at a cagr 9.0% from 2022 to 2027. The fiber optics, by application segment in Asia Pacific region is expecting a boom in the forecasted period and will lead to an increase in the demand for optic adhesives.
Attractive Opportunities in the Optic Adhesives Market
Note: e – estimated, p - projected
Source: Expert Interviews, Secondary Sources, and MarketsandMarkets Analysis
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Optic Adhesives Market Dynamics
Drivers: Increasing penetration of smart devices and camera or digital sensors boost the demand for optic adhesives
Rising demand for the latest technology-based smart devices, smartphones, tablets, computers, display screens of medical devices, television sets, and LCD screens is driving the market. According to Statista, smartphone sales in 2021 reached around 1.43 billion units globally. These adhesives are used in mobile phones to bond the digitizer panel to the front bezel of the device. The OCA also acts as an anti-shatter film that holds all the components together if there is any shock or impact on them. In LCDs and televisions, optic adhesives help in their assembly as well as act as a substitute for the vacuum deposition method, which helps in reducing process costs and increasing productivity and production speed. Optic adhesives bind a transparent layer in these devices to protect them from harsh chemicals, damage, and scratches. They also help in improving the mechanical, optical, and electrical performance of the display module and device, as well as its viewability, readability, and contrast in both indoor and outdoor devices.
Restraints: Difficulty in raw material availability and shipping
The raw materials used for manufacturing optic adhesives are petrochemicals and are derived from crude oil. Prices of naturally available raw materials and crude oil are skyrocketing in Europe, leaving chemical producers to suffer from low availability of raw materials to manufacture the desired products. Even countries that do not have trade restrictions are struggling to import from the region due to the disrupted maritime transport sector. 90% of Germany’s petrochemicals-intensive sectors such as adhesives and sealants manufacturers, paints and coatings manufacturers, machinery and equipment, electrical equipment, etc. are reporting logistical troubles and shortages of raw materials.
Opportunities: Technological innovations and new product development areas in aerospace and medical industries
The aerospace and military industries are very rigorous. The equipment used is exposed to extreme environmental conditions. There is a lot of work required for the manufacturers to cater to these industries. Technological innovations and new product requirements have unfastened several opportunities. Adhesives are being used as alternatives to nuts and bolts; they are very popular among space manufacturers because lightweight fasteners and adhesives boost aircraft efficiency. In space, the materials face extreme vacuum and extreme solar radiation without the benefit of atmospheric filtering. Consequently, resistance to gassing, as well as resistance to UV exposure, is crucial for space-based applications of optic adhesives. According to NASA, space-qualified materials should have TML and CVCM < 0.1%.
Furthermore, in the medical industry, it is essential that adhesives are solventless due to concerns about the short-term toxic effects of solvents as well as indications that many of them are carcinogenic. Other requirements include good adhesion to organic and inorganic surfaces, good wetting properties, compatibility with radiation, autoclave sterilization, and fungus- and bacteria-resistance. Not many optic adhesive suppliers have a line of adhesives that are qualified for medical use. Considering all the above-mentioned requirements, it is obvious to have a good scope for research and development in this direction, which could open different opportunities for optic adhesive manufacturers.
Challenges: Toxicity of adhesives causes a possible threat to manufacturers
The chemical industry is facing challenges from the regulatory authorities, such as Control of Substances Hazardous to Health (COSHH), European Union (EU), Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), Globally Harmonized System (GHS), and Environmental Protection Agency (EPA), in Europe and North America. Optic adhesives release solvent into the environment, which, if inhaled, can harm individuals. The toxic byproducts can lead to the deformation of the structure or lens that is adhered to, which may lead to increased production costs for manufacturers.
Fiber Optics accounted for the fastest growing segment of the optic adhesives market between 2022 and 2027.
Fiber optic adhesives perform well on glass, metal, ceramic, and most plastic substrates and provide excellent chemical and solvent resistance. They also provide insulation to electricity and can be used in high-strength optical alignment applications. In addition, they can bond dissimilar materials quickly and efficiently, enabling the production of many optical components.
Adhesive technology always plays a major role in fiber optics assembly. Initially, epoxy technology was the method of choice, primarily in the connector market, but nowadays, adhesives are highly engineered and are available in a wide variety of choices to help fabricate fiber optic assemblies. A correct adhesive offers speed fabrication, lower costs, and improves reliability and performance.
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Asia Pacific is the fastest-growing optic adhesives market.
Asia Pacific is the fastest optic adhesives market in terms of value and volume during the forecast period. The development of the market is mainly attributed to the high economic growth rate followed by heavy investment across different manufacturing industries.
Key Market Players
Henkel AG & Co. KGAA (Germany), Dymax Corporation (US), and DELO Adhesives (Germany) are the key players in the global optic adhesives market.
DELO Adhesives is a world-leading manufacturer of industrial adhesives. The company is owner-operated, and for over 50 years, it has developed tailor-made special adhesives and application technologies for high-tech industries such as automotive, aviation, optoelectronics, and electronics. It has subsidiaries in the US, China, Singapore, and Japan, as well as representatives throughout the world.
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Report Metric |
Details |
|
Years Considered for the study |
2020-2027 |
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Base year |
2021 |
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Forecast period |
2022–2027 |
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Units considered |
Value (USD) and Volume (Ton) |
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Segments |
By Resin Type |
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Regions covered |
Asia Pacific, Europe, North America, Middle East & Africa, South America |
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Companies profiled |
Henkel AG & Co. KGAA (Germany), Dymax Corporation (US), and DELO Adhesives (Germany). A total of 15 players have been covered. |
This research report categorizes the OPTIC ADHESIVES market based on resin type, application, and region.
By Resin Type:
- Epoxy
- Acrylic
- Cyanoacrylate
- Silicone
- Others
By Application:
- Optical Bonding & Assembly
- Lens Bonding Cement
- Fiber Optics
- Others
By Region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Frequently Asked Questions (FAQ):
What are the factors influencing the growth of optic adhesives?
The global optic adhesives market is driven by the growing optical devices, fiber cables, internet services etc.
What are the major applications for optic adhesives?
The major applications of optic adhesives are optical bonding & assembly, lens bonding cement, and fiber optics.
Who are the major manufacturers?
Henkel AG & Co. KGAA (Germany), Dymax Corporation (US), and DELO Adhesives (Germany) are some of the leading players operating in the global optic adhesives market
Why optic adhesives are gaining market share?
The growth of this market is attributed to the growing preference for optic adhesives in optical bonding & assembly application segment. .
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The study involves four major activities in estimating the current market size of optic adhesives. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methods were used to estimate the size of the segments and sub-segments of the overall market.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred to for identifying and collecting information for this study. These secondary sources also included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; regulatory bodies; trade directories; and databases.
Primary Research
The optic adhesives market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations. The demand side of this market is characterized by the development in applications, such as optical bonding & assembly, lens bonding cement, and fiber optics. The supply side is characterized by advancements in formulations. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Following is the breakdown of primary respondents:
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the Optic adhesives market. These methods were also used extensively to estimate the sizes of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the market have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Optic adhesives Market Size: Top-down Approach
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Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To analyze and forecast the size of the optic adhesives market, in terms of value and volume
- To define, describe, and forecast the optic adhesives market by resin type, application, and region
- To forecast the optic adhesives market size with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
- To provide detailed information about the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micromarkets1 with respect to individual growth trends, growth prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments, such as mergers & acquisitions, new product launches, and investments & expansions, in the optic adhesives market
- To strategically profile key players and comprehensively analyze their market shares and core competencies2
Note: 1. Micromarkets are defined as the sub-segments of the OPTIC ADHESIVES market included in the report.
Note 2: Core competencies of the companies are captured in terms of their key developments and key strategies adopted to sustain their position in the market.
Available Customizations
MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of the optic adhesives market, by country
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Optic Adhesives Market