Optically Clear Adhesive Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Report Code: CMR 20553 Report Format: PDF + Excel

Optically Clear Adhesive Market Overview

Optically clear adhesive market size is forecast to reach US$2.3 billion by 2027, after growing at a CAGR of 5.7% during 2022-2027. Globally, the optically clear adhesive finds usage in bonding of touch panels and display devices to bind the plastic, cover lens, and other optical materials to each other and to the main sensor unit, which is driving its market growth. Optically clear adhesives exhibit characteristics such as low loss fraction and high transmittance, which make them appropriate for utilization in touchscreens and displays of handheld devices. These adhesives can bond different types of surfaces such as polymethyl methacrylate (PMMA), polyethylene terephthalate (PET), indium tin oxide (ITOs), polycarbonate, and glass. The application of optically clear adhesives in various end use industries such as electrical & electronics, aerospace, automotive, and others, is estimated to drive the market growth.

COVID-19 Impact

The COVID-19 impacted the automotive, energy, aerospace & defense industries over 2020. The manufacturing process of various products in these end use industries declined due to the lockdown norms. Economies of the industries got impacted and resulted in stagnation of activities across the end use industries that use optically clear adhesive. For instance, according to the European Parliament, in 2020 European demand for aerospace production declined in overall by 43%. However, for 2021 European traffic was estimated to recover to 51% of the 2019 levels. Thus, once the aerospace sector’s activities get back on track and start functioning with total capacity, the market for optically clear adhesive is estimated to incline in the upcoming years.

Optically Clear Adhesive Report Coverage

The report: “Optically Clear Adhesive Market – Forecast (2022 - 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the optically clear adhesive market.

By Product Type: Liquid Optically Clear Adhesives (LOCA), Optically Clear Acrylic Adhesives, Optically Clear epoxy Adhesives, Optically Clear Resin (OCR), and Others

By Device Structure: Flat, Edge-Curved, and Others

By Application: Mobile Phones, Fiber Array Assembly, Lens Bonding, Tablets, Monitors, Televisions, Outdoor Signage, Instrument Panel, Navigation Screens, Rear-View Mirrors, Seat-Back, Flip-Down Video Screens, and Others

By End Use Industry: Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicle), Energy, Optical, Electrical and Electronics, Aerospace and Defense, and Others

By Geography: North America (U.S.A., Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East and Africa)

Key Takeaways

Figure: Asia-Pacific Optically Clear Adhesive Market Revenue, 2021-2027 (US$ Billion)

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Optically Clear Adhesive Market Segment Analysis – By Product Type

The liquid optically clear adhesives (LOCA) held the largest share in the optically clear adhesive market in 2021. Liquid optically clear adhesives are utilized as bonding adhesives for a number of touch panel, display screens, and other lens bonding applications. The re-positioning characteristics of LOCAs is gaining popularity, since optically clear acrylic adhesives, optically clear epoxy adhesives, and optically clear resin do not exhibit this property. LOCAs possess better gap filling characteristics as compared to other product types. Moreover, the assembly process for LOCAs can be fully automated; while that for other product types can only be semi-automated. Thus, the growing demand for liquid optically clear adhesives (LOCA),  due to its alluring characteristics will drive the demand for optically clear adhesive market over the forecast period.

Optically Clear Adhesive Market Segment Analysis – By Application

The mobile phones segment held the largest share in the optically clear adhesive market in 2021. In mobile phones, optically clear adhesive provides mechanical, optical, and electrical performance benefits. It is used to bond liquid crystal displays, touch screen sensors, panels, and other components for all active-matrix organic light-emitting diode (AMOLED) and organic light-emitting diode (OLED) type of mobile phone displays. In recent years, the rising demand and production of mobile phones has also driven the optically clear adhesive market growth. For instance, according to Indian Brand Equity Foundation (IBEF), in 2020 the production value of mobile devices reached US$ 30 billion from US$ 3 billion in 2015.

Optically Clear Adhesive Market Segment Analysis – By End-Use Industry

The electrical and electronics segment held the largest share in the optically clear adhesive market after growing at a CAGR of 6.2%. The electrical and electronics industry uses optically clear adhesive due to its properties such as high temperature, UV, and humidity resistance, high cohesive, peel strength, and high transmittance. Optically clear adhesive is used in the manufacturing of mobile phones, tablets, monitors, televisions, outdoor signage, and other electrical and electronics devices. According to Indian Brand Equity Foundation (IBEF), the Indian electronics manufacturing industry is projected to reach US$ 520 billion by 2025. Thus, increasing electrical and electronics production will require more optically clear adhesive, which will drive the optically clear adhesive market growth during the forecast period.  

Optically Clear Adhesive Market Segment Analysis – By Geography

Asia-Pacific region dominated the optically clear adhesive market with a share of 39% in the year 2021. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for optically clear adhesive in developing countries such as China, Japan, India, and South Korea. China is expected to continue its dominance in the optically clear adhesive market during the forecast period. This is due to the growth of the automotive and energy industries in the country. For instance, according to the International Trade Administration, over 25 million vehicles were sold in 2020, based on the data from the Ministry of Industry and Information Technology, with domestic manufacturing estimated to reach 35 million vehicles by 2025. Optically clear adhesives are used in an automobile in rear-view mirrors, seat-back, and other applications. Optically clear adhesive can bond surfaces such as polyethylene terephthalate (PET), polymethyl methacrylate (PMMA), polycarbonate, and other surfaces. India and Taiwan are also predicted to grow their optically clear adhesive market during the forecast period, with rising production and growth in aerospace & defense, automotive, and other end-use industry. For instance, according to the International Trade Administration, in Taiwan the total local production of aircrafts and jets was estimated to reach US$3,740 million in 2021 from US$2,670 million in 2020. Thus, the increasing investment and growth in various end-use industries will drive the optically clear adhesive market growth in the forecast period.

Optically Clear Adhesive Market Drivers

Surging Demand for Optically Clear Adhesive in Automotive Industry

Optically clear adhesive in the automotive industry is used for bonding a protective clear cover screen to an underlying liquid crystal displays panel. Optically clear adhesives remove the air gap between the two layers, and provide clear screen visibility. These adhesives are used in an automobile in navigation screens, flip-down video screens, and other applications. The increasing production of automotive have elevated the growth of the industry. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), in Austria, total motor vehicle production increased by 7% and in Russia by 21% in 2021 from 2020. Additionally, the total motor vehicle production increased by 10% in USA, in 2021 from 2020. Thus, with the increasing production of motor vehicles it is estimated that in the upcoming years the requirement for optically clear adhesive in the automotive industry will rise, which will boost the growth of the market.

Rising Growth of the Aerospace and Defense Industry will Drive the Market Growth

In the aerospace & defense industry, optically clear adhesive is utilized in touch panels and display devices to bond the cover lens and plastic to the primary sensor unit, in order to enhance durability and optical properties. These adhesives in aerospace & defense industry provides high performance even in harsh environments, range from dispensable to moldable solutions, and allow design flexibility for displays. The need for optically clear adhesive is increasing rapidly in developing and emerging economies, with the rising investment by the government in the aerospace & defense industry. For instance, in 2021, the Government of Quebec and the Government of Canada, invested US$2 billion in the aerospace industry to drive the recovery of the sector. Thus, with the increasing investment in the aerospace & defense industry, the market for optically clear adhesive will further rise over the forecast period.

Optically Clear Adhesive Market Challenges

The Difficult Application Process of Optically Clear Adhesive Will Hamper the Market Growth

The difficult application process of optically clear adhesive such as epoxy is its major disadvantage. Optically clear adhesive cannot be applied to unprepared, contaminated, or damaged surfaces. The surface must be cleansed in order to ensure the long life of the optical coating. Additionally, in display assembly, bonding a display panel to a three-dimensional cover glass by using optically clear adhesive is also challenging. Thus, due to difficulty in the application process, the growth of the optically clear adhesive market will be hindered in the forecast period.

Optically Clear Adhesive Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies players adopt in this market. Optically Clear Adhesive top 10 companies include:

  1. Henkel AG & Company
  2. 3M Company
  3. Tesa SE
  4.  Dow Corning
  5. Nitto Denko Corporation
  6. Lintec Corporation
  7. Saint-Gobain SA
  8. Dymax Corporation
  9. Hitachi chemical
  10. DELO Industrial Adhesives LLC and others

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1. Optically Clear Adhesive Market- Market Overview
    1.1 Definitions and Scope
2. Optically Clear Adhesive Market - Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Device Structure
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Optically Clear Adhesive 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. Optically Clear Adhesive Market - Startup companies Scenario Premium 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. Optically Clear Adhesive 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. Optically Clear Adhesive Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters 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. Optically Clear Adhesive 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. Optically Clear Adhesive Market – By Product Type (Market Size -US$ Million/Billion)
    8.1 Liquid Optically Clear Adhesives (LOCA)
    8.2 Optically Clear Acrylic Adhesives
    8.3 Optically Clear epoxy Adhesives
    8.4 Optically Clear Resin (OCR)
    8.5 Others
9. Optically Clear Adhesive Market – By Device Structure (Market Size -US$ Million/Billion) 
    9.1 Flat
    9.2 Edge-Curved
    9.3 Others
10. Optically Clear Adhesive Market – By Application (Market Size -US$ Million/Billion)
    10.1 Mobile Phones
    10.2 Fiber Array Assembly
    10.3 Lens Bonding
    10.4 Tablets
    10.5 Monitors
    10.6 Televisions
    10.7 Outdoor Signage
    10.8 Instrument Panel
    10.9 Navigation Screens
    10.10 Rear-View Mirrors
    10.11 Seat-Back
    10.12 Flip-Down Video Screens
    10.13 Others
11. Optically Clear Adhesive Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Cars
        11.1.2 Light Commercial Vehicles
        11.1.3 Heavy Commercial Vehicle
    11.2 Energy
    11.3 Optical
    11.4 Electrical and Electronics
    11.5 Aerospace and Defense
    11.6 Others
12. Optically Clear Adhesive Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Optically Clear Adhesive Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Optically Clear Adhesive Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share at Country Level - Major companies
    14.4 Market Share by Key Geography - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product - Major companies
15. Optically Clear Adhesive Market – Key Company List by Country Premium Premium
16. Optically Clear Adhesive Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
1.1 Acrylic Market 2019-2024 ($M) - Global Industry Research
1.2 Polyvinyl acetate Market 2019-2024 ($M) - Global Industry Research
1.3 Polyurethane Market 2019-2024 ($M) - Global Industry Research
1.4 Silicone Market 2019-2024 ($M) - Global Industry Research
1.5 Epoxy Market 2019-2024 ($M) - Global Industry Research
2.Global OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 (Volume/Units)
2.1 Acrylic Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Polyvinyl acetate Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Polyurethane Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Silicone Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Epoxy Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
3.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
3.2 Polyvinyl acetate Market 2019-2024 ($M) - Regional Industry Research
3.3 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
3.4 Silicone Market 2019-2024 ($M) - Regional Industry Research
3.5 Epoxy Market 2019-2024 ($M) - Regional Industry Research
4.South America OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
4.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
4.2 Polyvinyl acetate Market 2019-2024 ($M) - Regional Industry Research
4.3 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
4.4 Silicone Market 2019-2024 ($M) - Regional Industry Research
4.5 Epoxy Market 2019-2024 ($M) - Regional Industry Research
5.Europe OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
5.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
5.2 Polyvinyl acetate Market 2019-2024 ($M) - Regional Industry Research
5.3 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
5.4 Silicone Market 2019-2024 ($M) - Regional Industry Research
5.5 Epoxy Market 2019-2024 ($M) - Regional Industry Research
6.APAC OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
6.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
6.2 Polyvinyl acetate Market 2019-2024 ($M) - Regional Industry Research
6.3 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
6.4 Silicone Market 2019-2024 ($M) - Regional Industry Research
6.5 Epoxy Market 2019-2024 ($M) - Regional Industry Research
7.MENA OPTICALLY CLEAR ADHESIVE MARKET, BY RESIN TYPE Market 2019-2024 ($M)
7.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
7.2 Polyvinyl acetate Market 2019-2024 ($M) - Regional Industry Research
7.3 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
7.4 Silicone Market 2019-2024 ($M) - Regional Industry Research
7.5 Epoxy Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
2.Canada Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
3.Mexico Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
4.Brazil Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
5.Argentina Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
6.Peru Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
7.Colombia Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
8.Chile Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
9.Rest of South America Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
10.UK Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
11.Germany Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
12.France Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
13.Italy Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
14.Spain Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
15.Rest of Europe Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
16.China Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
17.India Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
18.Japan Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
19.South Korea Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
20.South Africa Optically Clear Adhesive Market Revenue, 2019-2024 ($M)
21.North America Optically Clear Adhesive By Application
22.South America Optically Clear Adhesive By Application
23.Europe Optically Clear Adhesive By Application
24.APAC Optically Clear Adhesive By Application
25.MENA Optically Clear Adhesive By Application
26.DELO INDUSTRIAL ADHESIVE LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.DOW CORNING, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.DYMAX CORPORATION, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.HENKEL AG CO. KGAA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.HITACHI CHEMICAL CO., LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.LINTEC CORPORATION, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.NITTO DENKO CORPORATION, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.SAINT GOBAIN SA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.TESA SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.THE 3 M COMPANY, Sales /Revenue, 2015-2018 ($Mn/$Bn)