The Optic adhesives market 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. Asia Pacific is estimated to be the largest consumer of optic adhesives. The global optic adhesives major players have made several research developments across value chain to focus on changing customer preferences.
The key players operating in the market are Henkel AG & Co. KGAA, Dymax Corporation, and DELO Adhesives.
Henkel AG & Co. KGAA operates worldwide by offering leading innovations, brands, and technologies in three business areas, namely, adhesive technologies, beauty care, and laundry & home care. The adhesive technologies business segment manufactures and distributes decoration and renovation products for packaged & consumer goods, home & office, building adhesives, and industrial infrastructure. Under the dynamic economic conditions due to the Russia-Ukraine war, the organic sales performance of the segment improved significantly compared to the previous year.
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Dymax Corporation manufactures ultraviolet/visible light curing adhesives, light curing systems, and dispensing equipment for manufacturers in aerospace, appliance, automotive, display, electronics, glass, industrial, medical device, metal finishing, optical, orthopedic, packaging, plastics, speaker, and structural markets. Dymax low-stress, low-movement, light-curable optical adhesives cure in seconds to provide the strength and clarity of epoxies. Optically clear, high-tensile-strength bonds of 3,000 psi and shrinkage as low as 0.1% are possible with these adhesives. The company has additional facilities located in Germany, China, Hong Kong, South Korea, and Singapore.
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.
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.
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