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 the largest and fastest-growing optic adhesives market in the world. Increasing penetration of smart devices and camera or digital camera boost the demand for optic adhesives.
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Asia Pacific accounted for 49.0%, in terms of value, of the global optic adhesives market in 2021. The strong growth in the region is a diverse range of economies, with different levels of economic development and a large variety of industries. The Asia Pacific optic adhesives market is expected to grow at the highest rate during the forecast period owing to the increasing number of smart cities in China, South Korea, and India. According to a press released by the World Economic Forum, in December 2020, about 500 AI-powered smart towns were built. The demand will further increase for smart transportation, smart utilities, smart buildings, and communication infrastructure.
With the growing applications of adhesives in different end-use industries, the optic adhesives market is also developing. Optic adhesives have different applications in optical bonding & assembly, lens bonding cement, fiber optics, and others. The growth of the optical bonding & assembly application segment depends mainly on the smart devices industry penetration. These include the bonding of AR lenses, camera lenses, microscopes, photography optics, smartphones, and others.
Henkel AG & Co. KGAA (Germany), Dymax Corporation (US), and DELO Adhesives (Germany) are the key players in the global optic adhesives market. These top 3 players together accounted for a share of 25-30% of the total optic adhesives market, while the rest was secured by small and medium-sized enterprises in 2021.
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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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