Optic Adhesives Market

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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Scope of the Report

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

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