Optically Clear Adhesives Market Research Insights Shared in Detailed Report
Optically Clear Adhesives Market Trends
Factors such as the increasing adoption of consumer electronics, growing demand for optically clear adhesives, and rising sales of smart devices.
WILMINGTON, DELAWARE, UNITED STATES, May 3, 2024 /EINPresswire.com/ -- According to a report from Allied Market Research, the global optically clear adhesives market was valued at $1.6 billion in 2020 and is projected to reach $3.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.8% from 2021 to 2030. The report provides a detailed analysis of market size, current and emerging trends, future estimations, and key players.
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Factors such as the increasing adoption of consumer electronics, growing demand for optically clear adhesives, and rising sales of smart devices are driving market growth. However, the availability of substitute products is hindering market expansion. Conversely, the development of non-corrosive optically clear adhesives and the introduction of activated covalent bonding technology are expected to create new market opportunities.
The COVID-19 pandemic had a negative impact on the optically clear adhesives market, particularly due to its reliance on industries such as automotive, electronics, aerospace, and others. Shutdowns and operational pauses in electronic companies affected demand, as these companies often use optically clear adhesives for displays and sensors. Reduced consumer income led to a decrease in demand among automotive sectors, although there was increased demand in the healthcare sector for digital instruments using optically clear adhesives.
The report segments the global optically clear adhesives market based on thickness, device structure, resin type, and region. In terms of device structure, the flat segment held the largest market share in 2020 and is expected to maintain its lead throughout the forecast period. However, the edge-curved segment is anticipated to witness the fastest CAGR of 9.3% from 2021 to 2030.
Based on thickness, the 100 – 200μm segment contributed the highest market share in 2020 and is expected to dominate the market during the forecast period. This segment is also projected to manifest the fastest CAGR of 9.0% from 2021 to 2030. The report also covers other thickness segments such as 200 – 300 μm, 300 – 400 μm, and 400 μm and above.
Regionally, Asia-Pacific, followed by North America and Europe, held the highest market share in 2020 and is expected to maintain dominance throughout the forecast period. However, North America is anticipated to portray the fastest CAGR of 11.5% from 2021 to 2030.
Key players in the global optically clear adhesives market, as analyzed in the research, include Dymax Corporation, Henkel Ag & Co. KGAA, Delo Industrial Adhesives LLC, Nitto Denko Corporation, Dexerials Corporation, Lintec Corporation, The 3M Company, Tesa SE, Showa Denko Corporation, and Dow Inc.
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David Correa
Allied Market Research
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