Optic Adhesives Market Poised to Achieve a Value of $526 Million by 2027
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.
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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.
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.
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The ongoing global recession presents an opportunity for Indian regional manufacturers as well as several enterprises who make world-class products. Because of its large-scale industrial development, growing mobile and internet penetration, trained workforce, well-developed software sector, and stable government, the country presents a great opportunity for IoT. It is an undeveloped IoT market with enormous development potential. Furthermore, the growing domestic need for high-quality internet access is luring optic adhesive makers to the country. India is one of the world’s fastest-growing economies and one of the top ten emerging economies.
Different government plans, such as Digital India, are expected to boost the prevalence of smart devices and the internet, with corporations such as Google (US) and Facebook (US) providing their technological knowledge to its implementation. In addition, the country has progressed from 2G to 3G to 4G and is now aiming to implement 5G in rural areas. The country’s ever-expanding telecommunications infrastructure will drive market potential for optic adhesives makers.
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