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increasing demand for smart devices in the automotive, aeronautics, and electronic industries is driving Optically Clear Adhesives Market growth

NEW YORK CITY, U.S., UNITED STATES, May 9, 2023 /einpresswire.com / -- The global optically clear adhesives market exhibited strong growth in 2021, and is anticipated to maintain a rapid revenue CAGR over the forecast period. The key drivers behind this growth include the increasing demand for smart devices due to population growth and advancements in industries such as automotive, aeronautics, and electronics. Optically clear adhesives are transparent adhesives used for bonding visually clear components. They are typically made from acrylic or methyl acrylic polymers and acrylic-based resins. These adhesives bond multiple layers of an object together, and their high durability, superior optical characteristics, re-workability, and high adhesion capacity to non-even surfaces make them increasingly popular.

Optically clear adhesives are widely used for bonding cover lenses or other materials to main sensor units in touch panels and display systems of various devices, resulting in transparent, UV-resistant, and low-haze final products. Moreover, the bonding using these adhesives improves contrast ratio by reducing the amount of reflected light, leading to enhanced viewing ability. The application of optically clear adhesives in the automotive and electronic industries is rapidly increasing owing to their high tensile strength and resistance to high temperatures. The bonding of devices using these adhesives reduces light loss due to reflection and provides the user with an extended battery life. Furthermore, these contaminant-free and bubble-resistant adhesives are increasingly adopted globally for laminations exposed to heat and humidity.

However, the high cost of machinery and equipment required for the application of these adhesives may hinder the growth of the market over the forecast period. Despite this, the increasing demand for optically clear adhesives is expected to continue to drive the growth of the market in the coming years.

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Optically Clear Adhesives Market Segments:

The global optically clear adhesives market is segmented based on resin type, application, and region. The resin type outlook is further divided into polyurethane, acrylic, polyvinyl acetate, silicone, and epoxy. Among these, acrylic-based optically clear adhesives are widely used due to their excellent optical clarity and bonding properties. The polyurethane segment is also expected to witness significant growth due to its high tensile strength, durability, and resistance to heat and chemicals.

Based on application, the market is segmented into tablets, mobile phones, television, automotive, and monitors. The use of optically clear adhesives in mobile phones and tablets is expected to dominate the market owing to the increasing demand for high-quality displays and touch panels. The automotive segment is also expected to witness significant growth due to the rising adoption of advanced driver assistance systems (ADAS) and head-up displays (HUD).

Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to dominate the market owing to the presence of several major manufacturers of optically clear adhesives in countries such as China, Japan, and South Korea. North America and Europe are also expected to witness significant growth due to the increasing demand for optically clear adhesives in the automotive and electronics industries. The Middle East & Africa and Latin America are expected to witness moderate growth due to the rising adoption of optically clear adhesives in the construction industry and growing demand for electronic devices in these regions.

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Optically Clear Adhesives Market Strategic Developments:

PANACOL revealed the creation of Vitralit 50004, an optically clear adhesive on July 5, 2019. This UV-curable acrylic adhesive boasts an ultra-low viscosity and is utilized for laminating optics, as well as bonding display systems and various devices. The adhesive also has a high adhesion capacity and is suitable for use with a variety of substrates, including coated glass and plastics.

Optically Clear Adhesives Market Competitive landscape:

The optically clear adhesives market includes various major companies that are actively operating in the industry. Henkel AG & Company, The 3M Company, and Dow Corning are some of the key players operating in the market. These companies are investing in research and development activities to introduce new and innovative products that cater to the changing needs of the customers. In addition, these companies are also focusing on strategic mergers and acquisitions to expand their market presence.

Nitto Denko Corporation and Lintec Corporation are also among the leading players in the market. Nitto Denko Corporation offers a wide range of optically clear adhesives that are used in the automotive and electronic industries. These adhesives offer high tensile strength and are resistant to high temperatures. Lintec Corporation is another major player in the market that offers a range of optically clear adhesive products, including PET-based films, foam tapes, and double-coated tapes.

Other key players in the market include Tesa SE, Saint-Gobain SA, Dymax Corporation, DELO Industrial Adhesives LLC, Hitachi chemical, and I. du Pont de Nemours and Company. These companies are focusing on product innovation, research and development, and strategic collaborations to expand their market presence and gain a competitive edge.

Overall, the optically clear adhesives market is highly competitive, with a large number of companies operating in the industry. The market is expected to witness significant growth in the coming years, driven by the increasing demand for these adhesives in the automotive, electronic, and aerospace industries.

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