New York, United States , Nov. 02, 2023 (GLOBE NEWSWIRE) — The Optic Adhesive Market Size to Grow from USD 1.97 Billion in 2022 to USD 3.81 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.Optic adhesives are essential in optical and photonics sectors, helping bond, seal, and protect various components. Their demand is surging in industries like telecommunications, healthcare, and defense. While traditionally their pricing remained stable, the increasing requirement for specialized products has diversified offerings and introduced a broad price range. Prices are influenced by factors like raw material composition, performance characteristics, brand reputation, regional considerations, and purchase volume. Especially significant is the type of raw materials used; adhesives with rare or high-quality components tend to cost more. Market volatility for such materials also directly affects prices. The burgeoning tech advancements and emerging sectors like renewable energy will further amplify the demand for optic adhesives.The distribution strategy for optic adhesives is pivotal, influencing their accessibility to businesses and end-users. For premium or niche products, many manufacturers prefer direct distribution to ensure brand integrity, direct customer engagement, and consistent quality. The rise of e-commerce has ushered in online marketplaces as significant avenues for optic adhesive distribution, offering both convenience and reach. Additionally, regional demand for these adhesives fluctuates based on the development of related industries. Regions boasting advanced telecommunications, expanding medical imaging capabilities, or thriving aerospace sectors typically exhibit a higher demand for optic adhesives.The acrylic optic adhesive segment accounted for the largest market share over the forecast period 2023 to 2032. Acrylic adhesives are commonly used in applications that require transparency as well as outstanding durability. They are used in applications requiring distortion-free light transmission, such as the installation of optical equipment, lenses, and screens. Acrylic adhesives also have excellent reliability over time and resistance to yellowing, making them perfect for optical applications that require long-term permanency. Acrylic optic adhesives have numerous applications in areas such as electronics, telecommunications, automobiles, and healthcare.The optical bonding & assembly segment accounted for the largest market share over the forecast period 2023 to 2032. The rise of smartphones, tablets, and wearable electronics needs the creation of improved screens. Optical bonding increases the mechanical strength of devices, making them more resistant to physical shocks and environmental conditions. When optical adhesives are used in bonding, internal reflections and refractions are reduced, resulting in a clearer, brighter, and sharper display for the end user.The electrical & electronics segment accounted for the largest market share over the forecast period 2023 to 2032. This market makes extensive use of optical adhesives. The importance of optical adhesives has expanded as modern electronics develop toward better displays, greater compactness, and increased durability. With each generation of electronic devices, there is a growing tendency for clearer, brighter, and more durable displays. This contributes to the market’s continued demand for high-quality optical adhesives.Asia Pacific is anticipated to dominate the optic adhesive market from 2023 to 2032. The region’s dominant position can be linked to the region’s extensive electronics manufacturing base, as well as the inclined growth of technological advancements in countries such as China, Japan, and South Korea. The region’s vast population, along with a growing middle class, has led to increased use of electronics, increasing demand for optic adhesives. Furthermore, the market is predicted to rise as a result of the region’s strong economic growth rate, which would be accompanied by heavy investment in various manufacturing industries.This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
(GlobeNewsWire)