The global optically clear adhesives market was valued at $1.6 billion in 2020, and is projected to reach $3.8 billion by 2030, growing at a CAGR of 8.8% from 2021 to 2030.
Optically clear adhesives are transparent adhesives that are used to bond visual clear components. The optically clear adhesives made from acrylic-based resins are extremely strong and efficient in bonding multiple layers of objects together. It consists of acrylic or methyl acrylic polymers.
The acrylic optically clear adhesives possess excellent significant properties such as adjustable initial adhesion, high shear strength, high-temperature resistance, UV resistance, durability, and other characteristics. These characteristics make it a perfect choice for bonding applications in electronics, construction, automotive, and other sectors. Also, the global consumer electronics industry is witnessing exponential growth owing to rapid advancements in electronic gadgets such as smartphones, laptops, smart televisions, and others. For instance, according to the annual report 2020 published by the Ministry of Electronics and Information Technology, the Indian electronics manufacturing industry has increased at a compound annual growth rate (CAGR) of 2.3%. Thus, acrylic optically clear adhesives are used in pressure-sensitive applications such as touch screens of smartphones, liquid crystal displays (LCDs), and other electronic devices. All these factors collectively surge the demand for optically clear adhesives, thereby augmenting the growth of the global market.
However, increase in technological advancements have made the adhesive industry operate in its maturity phase. Also, the rise in spending on research and development has led to a vast product portfolio of adhesives. There are a large number of adhesive products available in the market for each industry starting from construction to automobile and electronics to optical. The large availability of products is expected to hamper the specific application characteristics of a particular product; thus, offering an opportunity for the alternative product to penetrate in the market. This factor hampers the market growth.
On the contrary, optically clear adhesives are used as a core material for the optical performance of displays, touchscreens, sensors, and others. It possesses various significant properties such as high adhesive strength, transmittance, reliability, chemical stability, and others. In addition, it is also used as an anti-corrosion substrate to indium tin oxide (ITO) films used to make transparent conductive coatings for LCD, OLED, and plasma displays, touch panels, and windshields of aircrafts. Also, it is used in aircraft for defogging or deicing systems. Several key players in the aviation industry such as Airbus, Boeing, and others are becoming linear toward using optically clear adhesives-based ITO films in windshields of their different aircraft models such as Airbus A320, Airbus A380, Boeing 737, and others. It is a key factor that is anticipated to offer new opportunity in the global optically clear adhesives market.
The optically clear adhesives market analysis is done on the basis of resin type, device structure, thickness, application, end-use, and region. By resin type, the market is divided into acrylic, polyvinyl acetate, polyurethane, silicone, epoxy, and others. By device structure, it is fragmented into flat, edge-curved, and others. By thickness, it is fragmented into less than 100 μm, 100-200 μm, 200-300 μm, 300-400 μm, and 400 μm & above. The applications covered in the study include mobile phones, tablets, monitors, televisions, outdoor signage, automotive, and others. On the basis of end-use, the global market is divided into electrical & electronics, automotive, aerospace, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Delo Industrial Adhesives LLC, Dow Inc., Dymax Corporation, Henkel Ag & Co. KGAA, Lintec Corporation, Nitto Denko Corporation, Dexerials Corporation, Tesa SE, The 3M Company, and Showa Denko Corporation.
Optically clear adhesives market, by region
The North America optically clear adhesives market size is projected to grow at the highest CAGR of 11.5% during the forecast period and accounted for 23.8% of optically clear adhesives market share in 2020.
By Region
North America would exhibit highest CAGR of 11.5% during 2021-2030.
The consumer electronics segment in the U.S. is experiencing rapid growth which in turn has increased the demand for optically clear adhesives. For instance, according to a report published by Consumer Technology Association (CTA), the consumer electronics industry in the U.S. is expected to reach $461 billion with a 4.3% annual increase in 2021. In addition, the automotive industry in Canada is growing at a rapid pace which in turn may enhance the performance of optically clear adhesives market for bonding displays, touchscreens, and other automobile applications.
Optically clear adhesives market, by resin type
In 2020, the acrylic resin type was the largest revenue generator, and is anticipated to grow at a CAGR of 8.9% during the forecast period. The acrylic resin-based optically clear adhesives are among the strongest adhesives available in the market today. This is mainly due to its excellent cohesion and adhesion ability that make it superior for pressure sensitive applications. Apart from this, acrylic optically clear adhesives are chosen for their superior transparency and durability in display applications, wherein high quality is required.
By Resin Type
Epoxy resin type is the most lucrative segment
Optically clear adhesives market, by device structure
By device structure, the flat device structure dominated the global market in 2020, and is anticipated to grow at a CAGR of 8.7% during forecast period. Proliferating demand for large-screen televisions, smartphones, tablets, monitors, and other electronic devices where optically clear adhesives are widely used for bonding applications of displays and touch screen sensors.
By Device Structure
Edge-curved device structure is projected as the fastest growing segment
Optically clear adhesives market, by thickness
By thickness, the 100-200 μm thickness segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 9.0% during forecast period. Use of 100-200 μm thickness optically clear adhesives enhances viewability in both indoor and outdoor conditions. In addition, it can be used with light enhancement films and light control films for high quality optically clear laminations on mini-LED and micro-LED monitor displays. 100 μm thickness optically clear adhesives include other properties such as RFI absorbers, screen protection, and it can be used for gasketing for advanced integrated display solutions.
By Thickness
100-200 um thickness segment is projected as the fastest growing segment
Optically clear adhesives market, by application
In 2020, the mobile phones application was the largest revenue generator, and is anticipated to grow at a CAGR of 9.9% during the forecast period. Optically clear adhesives offer optical, mechanical, and electrical performance benefits to mobile phones. It is used to bond panels, touch screen sensors, and other components for all organic light-emitting diode (OLED) and active-matrix organic light-emitting diode (AMOLED) types of mobile phone displays.
By Application
Mobile Phones application is projected as the fastest growing segment
Optically clear adhesives market, by end-use
By end-use, the electrical & electronics segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 9.2% during the forecast period. Optically clear adhesives process various significant characteristics such as excellent bonding strength, thermal and chemical stability, superior gap filling, and other characteristics that make it suitable for electronics and electrical devices. Thus, optically clear adhesives are utilized in devices such as mobile phones, tablets, monitors, digital kiosks, smart watches, and others
By End-use
Electrical & Electronics is projected as the fastest growing segment
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current optically clear adhesives market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global Optically Clear Adhesives Market
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
- The optically clear adhesives market has been negatively impacted due to the wake of COVID-19 pandemic owing to its dependence on electronics, automotive, aerospace, and other sectors. According to an article published by The Economic Times, the exports of electronic devices such as computers, smartphones, and others have dipped due to supply chain issues.
- Also, several electronics companies have either shutdown or shrank their operations due to the risk of infections among the workforce where optically clear adhesives are used as a prime bonding agent for displays and sensors. This has temporarily hampered the demand for optically clear adhesives market amid the COVID-19 period.
- In addition, the falling income of customers has led to contraction of the demand of optically clear adhesives among the automotive sectors. For instance, according to a report published by Wipro, the sales of passenger cars saw a 30% decline in March 2020 as compared to March 2019, owing to lockdowns and shutdowns of auto plants. In addition, the travel restrictions imposed by the governments of various countries have led the aerospace & aviation sectors to witness temporary downfall. Also, COVID-19 has put a temporary break on various aircraft manufacturing projects which in turn has shrank the demand for optically clear adhesives among the aerospace & aviation sectors.
- However, the medical sectors have witnessed growth during the COVID-19 period. For instance, according to a report published by India Brand Equity Foundation, the healthcare sector is expected to reach $372 billion by 2022, driven by rising health awareness and increasing income. In addition, the healthcare sectors have witnessed an increase in demand for advanced digital instruments where optically clear adhesives are used in display bonding applications of touchscreens & sensors of MRI machines, CT scanners digital X-ray machines, and others. This has strengthened the position of optically clear adhesives market in the medical sectors. Furthermore, the rising sale of smartphones, laptops, tablets, and other consumer electronic devices have reported a rise in sales during the first quarter of 2021. This is anticipated to enhance the performance of optically clear adhesives market for consumer electronics segments post COVID-19 scenario.
Key market segments
By Resin Type
- Acrylic
- Polyvinyl Acetate
- Polyurethane
- Silicone
- Epoxy
- Others
By Device Structure
- Flat
- Edge-Curved
- Others
By Thickness
- Less than 100 μm
- 100-200 μm
- 200-300 μm
- 300-400 μm
- 400 μm & above
By Application
- Mobile Phones
- Tablets
- Monitors
- Television
- Outdoor Signage
- Automotive
- Others
By End-Use
- Electrical & Electronics
- Automotive
- Aerospace
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global optically clear adhesives market are:
- Delo Industrial Adhesives LLC
- Dow Inc.
- Dymax Corporation
- Henkel Ag & Co. KGAA
- Lintec Corporation
- Nitto Denko Corporation
- Dexerials Corporation
- Tesa SE
- The 3M Company
- Showa Denko Corporation
Optically Clear Adhesives Market Report Highlights
| Aspects | Details |
 By Resin Type |
|
 By DEVICE STRUCTURE |
|
 By Application |
|
 By END-USER INDUSTRY |
|
 By Region |
|
 Key Market Players | The 3M Company, Dow Inc., Chase Corporation, Showa Denko Group, Henkel AG & Co. KGAA, Dymax Corporation, Delo Industrial Adhesives LLC, Tesa SE, LINTEC CORPORATION, Nitto Denko Corporation |
Analyst Review
The global optically clear market is expected to exhibit high growth potential. The optically clear adhesives made from polyurethane resins are extremely strong and efficient in bonding construction glass, plastics, and other materials. It contains replicas of organic chain units linked to urethane that provide extremely strong bonding even before it dries and seals completely. The polyurethane clear adhesives possess excellent significant characteristics such as high bonding strength, thermal stability, lightweight, good flexibility, high permeability, and others. The utilization of polyurethane optically clear adhesives in sectors such as construction, automotive, aviation, and others are the major key market trend in the global market.
In addition, the automotive sector is growing at a rapid pace due to the increase in transportation-related activities. For instance, according to a report published by India Brands Equity Foundation, domestic automobile sales have increased with the compound annual growth rate (CAGR) of 1.29% from 2016-2020 with over 21.55 million vehicles being sold in 2020. Thus, virtual side mirrors, digital consoles, and other vehicle body parts are expected to lead the optically clear adhesives market to witness a significant increase in demand attributed to the use of optically clear adhesives and bonding of flat LED displays.
In addition, developing economies such as India, China, and others are witnessing a rapid increase in construction activities based on modern architecture where optically clear adhesives are used in the bonding of glass panels, plastic sheets, transparent laminates, and others. This is anticipated to increase the sales of optically clear adhesives among the growing construction sectors. This is not only gaining immense attention in the market but also emerging as a key strategy in terms of gaining additional product demand.
Rise in use of optically clear adhesives in consumer electronic devices and increasing demand of optically clear adhesives from automotive sector are the key factors boosting the optically clear adhesives market growth
The global optically clear adhesives market was valued at $1,628.4 million in 2020, and is projected to reach $3,761.0 billion by 2030, growing at a CAGR of 8.8% from 2021 to 2030
Chase Corporation, Delo Industrial Adhesive LLC, Dow Inc., Dymax Corporation, Henkel AG & Co. KGAA, Lintec Corporation, Nitto Denko Corporation, Show Denko Corporation, Tesa SE, The 3M Company are the most established players of the global optically clear adhesives market.
Electrical and electronics industry is projected to increase the demand for optically clear adhesives market
The global optically clear adhesives market analysis is done on the basis of resin type, device structure, application, end-use, and region. Depending on resin type, the market is divided into acrylic, polyvinyl acetate, polyurethane, silicone, epoxy, and others. On the basis of device structure, it is fragmented into flat, edge-curved, and others. The applications covered in the study include mobile phones, tablets, monitors, televisions, outdoor signage, automotive, and others. On the basis of end-use, the global market is divided into electrical & electronics, automotive, aerospace, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The acrylic optically clear adhesives possess excellent significant properties such as adjustable initial adhesion, high shear strength, high-temperature resistance, UV resistance, durability, and other characteristics. These characteristics make it a perfect choice for bonding applications in electronics, construction, automotive, and other sectors. Also, the global consumer electronics industry is witnessing exponential growth owing to rapid advancements in electronic gadgets such as smartphones, laptops, smart televisions, and others. For instance, according to the annual report 2020 published by the Ministry of Electronics and Information Technology, the Indian electronics manufacturing industry has increased at a compound annual growth rate (CAGR) of 2.3%. Thus, acrylic optically clear adhesives are used in pressure-sensitive applications such as touch screens of smartphones, LCDs (liquid crystal displays), and other electronic devices. It is the main driver of optically clear adhesives market.
Mobile phones and television applications are expected the drive the adoption of optically clear adhesives
COVID-19 has impacted negatively on the optically clear adhesives market. This is attributed due to • The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. • The optically clear adhesives market has been negatively impacted due to the wake of COVID-19 pandemic owing to its dependence on electronics, automotive, aerospace, and other sectors. According to an article published by The Economic Times, the exports of electronic devices such as computers, smartphones, and others have dipped due to supply chain issues. • Also, several electronics companies have either shutdown or shrank their operations due to the risk of infections among the workforce where optically clear adhesives are used as a prime bonding agent for displays and sensors. This has temporarily hampered the demand for optically clear adhesives market amid the COVID-19 period. • In addition, the falling income of customers has led to contraction of the demand of optically clear adhesives among the automotive sectors. For instance, according to a report published by Wipro, the sales of passenger cars saw a 30% decline in March 2020 as compared to March 2019, owing to lockdowns and shutdowns of auto plants. In addition, the travel restrictions imposed by the governments of various countries have led the aerospace & aviation sectors to witness temporary downfall. Also, COVID-19 has put a temporary break on various aircraft manufacturing projects which in turn has shrank the demand for optically clear adhesives among the aerospace & aviation sectors. • However, the medical sectors have witnessed growth during the COVID-19 period. For instance, according to a report published by India Brand Equity Foundation, the healthcare sector is expected to reach $372 billion by 2022, driven by rising health awareness and increasing income. In addition, the healthcare sectors have witnessed an increase in demand for advanced digital instruments where optically clear adhesives are used in display bonding applications of touchscreens & sensors of MRI machines, CT scanners digital X-ray machines, and others. This has strengthened the position of optically clear adhesives market in the medical sectors. Furthermore, the rising sale of smartphones, laptops, tablets, and other consumer electronic devices have reported a rise in sales during the first quarter of 2021. This is anticipated to enhance the performance of optically clear adhesives market for consumer electronics segments post COVID-19 scenario
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