Sensor Optical Materials Market By Material Type (Inorganic Glass (Borosilicate glasses, Aluminosilicate glasses, Germanosilicate glasses & Others), Crystalline Materials (Insulators, Semiconductors), Polycrystalline Ceramics, Organic Polymers, Metal & Others), By Sensor Type (IoT sensors, Pollution sensors, RFID sensors, Wearable sensors, Image Sensors, Biometric sensors, Printed sensors, Ultrasonic Sensors & Others), By End-Use Industry (Automotive, Aerospace, Marine, Consumer Electronics, Biometric, Medical, Industrial & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 1484 Report Format: PDF + Excel

Sensor Optical Materials Market Overview

The Sensor Optical Materials Market size is forecasted to reach US$1.1 billion by 2027, after growing at an estimated CAGR of 6.5% during 2022-2027. Sensor optical materials are widely used in making various optical sensors such as graphene sensors, IOT sensors, pollution sensors, luminescence sensors and many more using carbon nanotubes, crystalline materials, pyrene methanol and others. The purpose of an optical sensor is to measure a physical quantity of light. Moreover, depending on the type of sensor, it translates that measurement into a form that is readable by an integrated measuring device. These sensors find their application in various end-use industries like automotive, aerospace, electronics and others. The growing development and expansion of the sector would eventually increase the sensor optical materials market size during the forecast period. For instance, according to the International Organization of Motor Vehicle Manufacturers, the total production of the car was around 57,054,295 units and commercial vehicle production was around 23,091,693 units in 2021. With the rise in the preproduction of vehicles, the demand for the optical sensor would increase and would eventually drive the Sensor Optical Materials industry during the forecast period.

Sensor Optical Materials Market Report Coverage

The “Sensor Optical Materials Market Report – Forecast (2022 - 2027)” by Industry ARC, covers an in-depth analysis of the following segments in the Sensor Optical Materials industry.

By Material Type: Inorganic Glass (Borosilicate glasses, Aluminosilicate glasses, Germanosilicate glasses and Others), Crystalline Materials (Insulators, Semiconductors), Polycrystalline Ceramics, Organic Polymers, Metal and Others.
By Sensor Type: IoT sensors, Pollution sensors, RFID sensors, Wearable sensors, Image Sensors, Biometric sensors, Printed sensors, Ultrasonic Sensors and Others.
By End-Use Industry: Automotive, Aerospace, Marine, Consumer Electronics, Biometric, Medical, Industrial and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • The Asia-Pacific Sensor Optical Materials Market is expected to register a CAGR of 8.8% during the forecast period (2022-2027). The increasing demand for sensor optical in building automation, automotive and others is boosting the growth of the Sensor Optical Material industry.
  • The growing demand for safety and adoption of high-grade wearable devices for the operators at the majority of industrial sites has also enhanced the Sensor Optical Materials market growth.
  • The increasing demand for luminescence sensor optical for advanced security features in smartphones and tablets such as in-display fingerprint scans or image scans is the major factor boosting the Sensor Optical Materials market growth.

Figure: Sensor Optical Materials Market Revenue Share, By Geography, 2021 (%)

Sensor Optical Materials Market

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Sensor Optical Materials Market Segment Analysis – by Sensor Type

The image sensors segment held the significant Sensor Optical Materials Market share in 2021 and is expected to grow at an estimated CAGR of 6.8% during 2022-2027. The image sensor is used to detect & transmit information for making an image. These sensors are used in both analog & digital type electronic imaging devices like digital cameras, imaging tools used in the medical field, camera modules, night vision tools like radar, thermal imaging devices, sonar and more. They are composed of various materials such as carbon nanotubes, trinitrotoluene, pyrene methanol and others. The rise in the medical and healthcare sector would increase the demand for image sensors and, in turn, would boost the demand for sensor optical materials market. For instance, according to Consumer Healthcare Product Association, American consumer medical device sales accounted for US$2,254 in 2021. Thus, the growing demand for consumer medical devices would raise the demand for image sensors. This would further drive the Sensor Optical Materials growth.

Sensor Optical Materials Market Segment Analysis – by End-use Industry

The automotive industry held a significant Sensor Optical Materials Market share in 2021 and is estimated to grow at an estimated CAGR of 7.6% during the forecast period 2022-2027. Sensor optical materials are used in the production of various camera-enabled sensors like graphene sensors and luminescence sensors in the automotive industry to provide features like autonomous driving, advanced safety systems and in-vehicle infotainment systems. These sensors offer a variety of intuitive features including 3D gesture recognition, interior lighting control applications and many others. With the rise in the automotive industry, the demand for sensors would increase and in turn, would drive the sensor optical materials industry. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in Austria, motor vehicle production increased from 86,300 units in 2020 to 92,000 units in the year 2021. Similarly, in the USA, the production of motor vehicles increased from 6,239,401 units in 2020 to 6,857,182 units in 2021. With the increasing production of vehicles, it is estimated that in the upcoming years, the requirement for sensors in the automotive industry would rise. This would boost the growth of the Sensor Optical Materials market in the automotive sector.

Sensor Optical Materials Market Segment Analysis – by Geography

North America region dominated the Sensor Optical Materials Market with a share of 40.9% in the year 2021. The increasing investments in the medical and healthcare industry and rising automation in various industries have brought a major pace in the optical sensor materials industry growth. With the increasing industrialization in the automotive sector in North America, the demand for Artificial Intelligent automobiles has increased rapidly which has further uplifted the adoption of optical sensor materials in automobiles. For instance, according to new industry statistics by the Association for Advancing Automation (A3), the number of robots sold in North America set a new record in 2021, with 39,708 units sold at a value of US$2 billion. That was a 14% increase over the previous high in 2017, propelled by a surge in non-automotive sectors. Such increasing automotive production in the North American countries is anticipated to increase the demand for sensor optical in the forecasted period and is proving to be a market booster for the Sensor Optical Materials market size in this region. 

Sensor Optical Materials Market Drivers

Growing Medical & Healthcare Industry:

The Sensor Optical is widely used in medical devices for the imaging and illumination components of endoscopes or other instruments that are used to visualize internal organs and tissues, diagnostics or other procedures. The demand for sensor optical is increasing in medical devices to treat various diseases. Also, the rise in the growth of medical devices would increase the demand for carbon nanotubes, graphene, pyrene methanol, surface plasmons and many more in medical device production. The rise in the number of medical facilities would boost the demand for medical devices and in turn, would drive the sensor optical materials industry. The medical device market in India is expected to increase at an estimated CAGR of 37% to reach US$50 billion in 2025 from US$10.36 billion in 2020. The medical devices sector in India comprises large multinationals and small & midsized companies. It is among the top 20 medical device markets globally, as per India Brand Equity Foundation. Also, diagnostic imaging is likely to expand at an estimated CAGR of 13.5% between 2020 and 2025 in India. Moreover, according to International Trade Administration, in Mexico, the total local production of medical devices and equipment increased from US$16.80 billion in 2020 to US$15.12 billion in 2021. Additionally, the medical device market in China is expected to grow at an estimated CAGR of 6.2% between 2020 and 2025 and is expected to reach US$38.4 billion by 2025. Thus, with the growing demand for medical applications such as devices and other applications in the medical and healthcare industry, the Sensor Optical Materials market size would further rise over the forecast period.

The increasing use of sensor optical in the foods & beverages industry:

In the food & beverage industry, optical sensors are widely used for the assessment of the quality of food and to ensure the safety of customers to prevent foodborne diseases. Various stringent laws and regulations are exercised in the food & beverages industry for the preparation, packaging and transportation of food products. Optical biosensors are the most common sensors used in the food & beverages industry for the detection of pesticides, pathogens, drug residues and other toxic elements like heavy metals that might be present within the food products. All these factors are boosting the demand for sensors optical composed of carbon nanotubes, trinitrotoluene, pyrene methanol and others and in turn driving the market growth. For instance, Bunge Loders Croklaan invested more than EUR 300 million (US$346.5 million) to build a new sustainable food processing facility in Amsterdam, the Netherlands, in May 2021. This is estimated to be completed by the end of 2024. Moreover, the food & beverage market in South Korea is expected to reach US$99.28 billion by 2024, witnessing an estimated CAGR of 3.9% according to the British Chamber of Commerce in Korea. Thus, with the growth of the food & beverage sector, the demand for optical biosensors for food and beverage item production would increase, which would drive the growth of the Sensor Optical Materials market over the forecast period.

Sensor Optical Materials Market Challenge:

Rising substitutes of sensor optical are restraining the demand for sensor optical materials market:

The increasing number of Sensor Optical substitutes is one of the major concerns faced by the Sensor Optical Materials market, globally. In the healthcare and manufacturing industries of semiconductors, optical sensors are used in various applications. However, they are inefficient as they are physically too large to fit in the instruments. Additionally, these sensors are typically not flexible enough to be routed through these instruments. Nowadays, highly flexible and miniature sensors are being incorporated into various industries, owing to the high demands for smaller machines and tools. The rising demand and manufacturing of miniature sensors tend to hinder optical sensor market growth and in turn hinder the Sensor Optical Materials market during the forecast period.

Sensor Optical Materials Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Sensor Optical Materials Market. The top 10 companies in the Sensor Optical Materials market include:

  1. BASF SE
  2. Hellma Materials
  3. CVD Ceramics
  4. CoorsTek Inc.
  5. Inrad Optics
  6. Schott AG
  7. Dow Chemical Company
  8. LyondellBasell
  9. ExxonMobil
  10. China Baowu Group

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1. Sensor Optical Materials Market - Market Overview
    1.1 Definitions and Scope 
2. Sensor Optical Materials Market - Executive Summary
    2.1 Key Trends by Material Type
    2.2 Key Trends by Sensor Type
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Sensor Optical Materials Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Sensor Optical Materials Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Sensor Optical Materials Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Sensor Optical Materials Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Sensor Optical Materials Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Sensor Optical Materials Market – by Material Type (Market Size - US$ Million/Billion)
    8.1 Inorganic Glass 
        8.1.1 Inorganic Glass 
            8.1.1.1 Borosilicate glasses
            8.1.1.2 Aluminosilicate glasses
            8.1.1.3 Germanosilicate glasses
            8.1.1.4 Others
        8.1.2 Crystalline Materials
            8.1.2.1 Insulators
            8.1.2.2 Semiconductors
        8.1.3 Polycrystalline Ceramics
        8.1.4 Organic Polymers
        8.1.5 Metal 
        8.1.6 Others
9. Sensor Optical Materials Market – by Sensor Type (Market Size - US$ Million/Billion)
    9.1 IoT sensors
    9.2 Pollution sensors
    9.3 RFID sensors
    9.4 Wearable sensors
    9.5 Image Sensors
    9.6 Biometric sensors
    9.7 Printed sensors
    9.8 Ultrasonic Sensors
    9.9 Others 
10. Sensor Optical Materials Market – by End-use Industry (Market Size - US$ Million/Billion)
    10.1 Automotive
    10.2 Aerospace
    10.3 Marine
    10.4 Consumer Electronics
    10.5 Biometric
    10.6 Medical
    10.7 Industrial
    10.8 Others
11. Sensor Optical Materials Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 The USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 The Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 The Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 The UAE
            11.5.1.3 Israel
            11.5.1.4 The Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 The Rest of Africa
12. Sensor Optical Materials Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Sensor Optical Materials Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Sensor Optical Materials Market – Key Company List by Country Premium Premium
15. Sensor Optical Materials Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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