Increase in implementation of consumer electronic devices, rise in need from the automotive industry drive the development of the global optically clear adhesives market. Furthermore, increase in adoption of smartphones as well as LCD televisions is the important factor pouring the growth of the market. Additionally, regular introduction of innovative products, including high-end smartphones, high-definition displays, and others in the market increase the requirement for optically clear adhesives among customers. However, accessibility of large number of adhesive products for different applications hampers the market development. On the contrary, continuous advancement in technology is expected to increase the introduction of highly innovative high-end display devices in the near future, which will probably offer lucrative opportunities for the global optically clear adhesives market expansion.
The global optically clear adhesives market is categorized on the basis of resin types namely, acrylic, silicone, polyvinyl acetate, polyurethane, epoxy, and others. Among this resin type, acrylic have the maximum share in the market. This is mainly due to its outstanding cohesion as well as adhesion capability that make it better for pressure sensitive applications. Along with this, acrylic optically clear adhesives are selected for their high transparency and strength in display applications, in which high quality is essential. The optically clear adhesives market is also categorized based on application, that include mobile phones, television, tablets, monitors, automotive, outdoor signage, and others. Among these applications, mobile phones contribute to maximum share in the market. It is leading globally as it is the main source of communication in residential and commercial sectors all over the world.
On the basis of region, categorization of optically clear adhesives market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific holds the largest share among the global market. This is due to the fast-emerging economics and presence of nations such as China, South Korea, and India as an active customer of electronic devices in the Asia Pacific region owing to the increasing adoption of new technology in electronics devices in the nations. In Asia-Pacific region, China and India mainly contribute to the highest shares as the biggest manufacturer as well as consumer of electronic devices such as tablets, LED, smart phones, LCD screens and automotive industries. Asia Pacific region is expected to grow at the fastest CAGR during the forecast period.
COVID-19 has affected every aspect of life globally and hence most of the business have been halted and hampered. The global optically clear adhesives market has been harmfully impacted owing to the COVID-19 pandemic. This is due to its large dependency on automotive, aerospace, electronics, and other sectors too. Also, numerous electronic businesses have either closed or shortened their actions because of the danger of infections amongst the workforce where optically clear adhesives are utilized as a main bonding material for displays as well as sensors. This has momentarily hindered the growth for global optically clear adhesives market within the COVID-19 period. However, as the processes are resuming the market will mark its position like before the COVID-19 pandemic.
Some of the key players from the optically clear adhesives market include Henkel AG & Company, The 3M Company, Hitachi Chemical, The Dow Chemical Company, Saint-Gobain SA, Tesa SE, Nitto Denko Corporation, Lintec Corporation, Dymax Corporation, and Cyberbond LLC among others. Most of the key players operating in the market are focusing on product development worldwide which are also accelerating the development of optically clear adhesive market.
Recent News and Development:
- In 2019, scientists are developing a sample transfer label structure that includes an optically clear remediable pressure-sensitive adhesive coating, a treatable epoxy layer, and a clear carrier layer has been established.
- Henkel AG expanded its line of silicone Loctite liquid optically clear adhesives to include original formulations that apparently fixture in less than two seconds, needs 3-10 times minimum energy to therapy than traditional one-part silicone LOCAs, and are well-suited with either 365 or 405 nm LED light sources.