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Optical Adhesives Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Optical Adhesives Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UK, June 26, 2024 /EINPresswire / -- The global optical adhesives market is projected to grow from $2.02 billion in 2023 to $2.22 billion in 2024, at a CAGR of 9.8%. Despite challenges, the market is anticipated to reach $3.07 billion by 2028, driven by advancements in the aerospace industry and the increasing use of optical adhesives in various applications.
Expansion of Aerospace Industry Drives Market Growth
The expansion of the aerospace industry is expected to propel the growth of the optical adhesives market going forward. Optical adhesives are crucial in aerospace applications for bonding lenses, prisms, mirrors, and optical fibers, providing low strain, optical clarity, and low outgassing. For instance, the Aerospace Industries Association reported a 2.1% growth in the US Aerospace & Defense sector's sales revenue, reaching $892 billion in 2021. This growth, along with an 11.2% increase in exports, underscores the sector's expansion and its positive impact on the optical adhesives market.
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Key Players and Market Trends
Major companies in the optical adhesives market include Dow Inc., Saint-Gobain S.A., 3M Company, Henkel AG & Co. KGAA, Shin-Etsu Chemical Co., Ltd., and SIKA AG. These companies focus on innovative products such as high-quality optical bonding epoxy adhesives to provide advanced solutions for the chip testing and packaging industry. For example, DeepMaterial Co. Ltd. introduced underfill epoxy and one-component epoxy adhesive in May 2023, designed to create strong bonds and provide surface protection in semiconductor and electronics applications.
Segments:
. By Type: Acrylic, Silicone, Epoxy, Cyanoacrylate, Other Types
. By Application: Optical Bonding And Assembly, Lens Bonding Cement, Fiber Optics, Other Applications
. By End-Use: Electrical And Electronics, Automotive, Aerospace, Other End-Uses
Geographical Insights: North America Leading, Asia-Pacific Fastest Growing
North America was the largest region in the optical adhesives market in 2023, with significant contributions from the aerospace and defense sectors. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by rapid industrialization and technological advancements.
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Optical Adhesives Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Optical Adhesives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on optical adhesives market size, optical adhesives market drivers and trends, optical adhesives market major players, competitors' revenues, market positioning, and market growth across geographies. The optical adhesives market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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