Allied Market Research recently published a report, titled, “Optically Clear Adhesive Market by Resin Type (Acrylic, Polyvinyl Acetate, Polyurethane, Silicon, Epoxy, and Others) and Application (Mobile Phones, Tablets, Monitors, Television, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” the global optically clear adhesives market generated $1.6 billion in 2020, and is estimated to garner $3.8 billion by 2030, witnessing a CAGR of 8.8% from 2021 to 2030.
Increasing demand for optically clear adhesives in the consumer electronics industry, growing use of digital signage, and rising adoption of optical adhesives in automated displays have boosted the growth of the global optically clear adhesive market. However, availability of large number of adhesives for various application segments hinders the market growth. On the contrary, introduction of optical covalent bonding technology is expected to create lucrative opportunities for the market players in the near future.
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- Manufacturing activities in the electronics, automotive, aerospace, and other sectors were halted due to lockdown measures and safety precautions taken by governments to curb the spread of Covid-19. Owing to huge dependence on these sectors, the demand for optically clear adhesives lowered. However, the demand is expected to rise during the post-lockdown.
- The healthcare sector witnessed an increase in demand for advanced digital instruments in which optically clear adhesives are utilized for display bonding applications of touchscreens & sensors of MRI machines, digital X-ray machines, CT scanners, and others. This led to increased demand for optically clear adhesives from the healthcare sector.
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Acrylic segment to retain lion’s share through 2030
The acrylic segment held the largest market share in 2020, contributing about 9.7% of the total market revenue, as they are in high demand due to their high bonding strength and strong structural adhesive properties. Moreover, acrylic is preferred for their superior transparency and durability in display application. However, the silicone segment is projected to register the fastest CAGR of 10.70% during the forecast period, owing to its conductive nature and high penetration in displays in automotive linked with vast automotive sales. The other segments such as polyvinyl acetate, polyurethane, epoxy, and others are analyzed in the report.
Automotive segment to manifest fastest CAGR through 2030
Automotive application of the optically clear adhesive is expected to register the fastest CAGR of 8.8% during the study period, owing to the emergence of electric vehicle coupled with increase in penetration of displays in driver assistance. However, the mobile phones segment held the largest share in 2017, contributing about one-fourth of the total market revenue, owing to high adoption rate, surge in disposable income, and introduction of highly advanced smartphone. The other segments such as tablets, monitors, television, outdoor signage, and others are also analyzed in the report.
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Asia-Pacific dominates the industry
Based on region, Asia-Pacific contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to maintain its dominant share by 2030. However, North America is expected to witness the fastest CAGR of 11.5% during the forecast period.
Major market players
Leading players of the global optically clear adhesives market analyzed in the research include Chase Corporation, Dow Inc., Delo Industrial Adhesive LLC, Henkel AG & Co. KGAA, Dymax Corporation, Nitto Denko Corporation, Lintec Corporation, Tesa SE, Show Denko Corporation, and The 3M Company.
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