Optically Clear Adhesive Market to Garner $2.39 Bn, Globally, by 2025 at 8.6%, Says Allied Market Research
PORTLAND, Oregon, December 27, 2018 /PRNewswire/ --
Increase in requirement in consumer electronics industry, high adoption of optical adhesives in automotive displays, and introduction of optical covalent bonding technology are expected to propel the growth of the global optically clear adhesive market
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, 2018-2025." The report provides detailed analyses of the top winning strategies, market share & estimations, driving factors & opportunities, key market segments, and competitive landscape. According to the report, the global optically clear adhesive market was pegged at $1.23 billion in 2017 and is projected to reach $2.39 billion by 2025, registering the CAGR of 8.6% during the forecast period.
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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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Acrylic segment to retain lion's share through 2025
The acrylic segment held the largest market share in 2017, contributing about 28% 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 2025
Automotive application of the optically clear adhesive is expected to register the fastest CAGR of 11.9% 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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North America dominates the industry
North America region is expected to register the fastest CAGR of 11.3% during the forecast period, owing to high presence of market players in the region. However, Asia-Pacific region held the largest share in 2017, contributing about 45% of total market share, owing to high adoption rate of mobile phones, significant growth in consumer electronics, and high production rate. The other regions such as Europe and Latin America, Middle East and Africa (LAMEA) are analyzed in the report.
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Major market players
The leading market players profiled in the report include Henkel AG & Company, Tesa SE, Nitto Denko Corporation, Lintec Corporation, Dymax Corporation, Delo Industrial Adhesives LLC., The 3M Company, Dow Corning, Saint-Gobain SA, and Hitachi Chemical.
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