TAGS: Acrylic Adhesives Epoxy Adhesives Polyurethane Adhesives
The Brainy Insights (TBI) anticipates that the global Optically Clear Adhesives (OCAS) market is expected to reach USD 3788.36 million by 2030, at a CAGR of 9.8% from 2021 to 2030. The steady revenue growth of the global optically clear adhesives market can be due to the increasing usage of smartphones.
Due to the widespread availability of 4G network connectivity, there has been a rapid increase in demand for smartphones and tablets. Network connectivity technology known as 4G/LTE (Long Term Evolution) has been catching up with Wi-Fi as the preferred network for accessing to the internet. Around 70.0 percent of smartphones currently use LTE network technology for communication, with mobile OTT (over-the-top) apps accounting for approximately 75 percent of data traffic on mobile phones. This indicates the large impact of mobile Internet generation on smartphone demand.
According to GSMA figures, global smartphone adoption is expected to reach 80% by 2025, with developing nations such as Indonesia contributing significantly to this increase. Optically clear adhesives will continue to be in high demand, especially for display screen protection applications, as smartphone sales rise.
Optically Clear Adhesives Market Overview
Optically clear adhesives (OCA) are transparent, uncolored adhesives that allow a screen's complete surface area to be bonded to a device without causing display distortion. Optical clarity is a significant feature of these adhesives since it is clean and transparent, making it suitable for use in the most demanding situations. It aids in the improvement of durability, optical properties, adhesive strength, adhesion dependability, and bonding strength. It is used to connect display devices, touch panels, plastic, cover lenses, and other optic materials, such as the primary sensor unit, so that a clear visual appearance can be achieved.
These adhesives are used for their exceptional optical and mechanical adhesion properties. OCA-based optically clear laminations have excellent adhesion and peel strength. Optically Clear Adhesives are dimensionally stable, shrink resistant, and resist whitening over time. In complex optically clear laminations, layer integration with the proper Optically Clear Adhesive allows for tough, long-lasting bonds. For a variety of automotive and electronic applications, optically clear adhesives enable secure and transparent bonding. For more than a decade, optically clear adhesives (OCA) have been used to bind robust LCD and AMOLED displays for consumer electronics applications, providing optical, mechanical, and electrical benefits.
The performance requirements of an OCA used to connect a plastic OLED display's cover window, touch sensors, and circular polarizers to bent cover glass or a flexible, foldable OLED display differ significantly from those of a flat, rigid device. The adhesive used to attach plastic OLED to bent cover glass must be strong enough to withstand the spring back of the flat plastic OLED devices.
Market Dynamics
Drivers:
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Advancements in electronic components
With the advancement of electronic components used in automotive applications, more innovative digital products have been developed, as well as the size of display panels and displays used in vehicle interiors. Some key factors driving market revenue growth include a steady increase in clusters of equipment/devices that operate on display screen technologies such as digital display mirrors and control displays for Heating, Ventilation, and Air Conditioning (HVAC), as well as a growing focus among automotive manufacturers to deliver more enhanced in-cabin digital experiences via infotainment systems for customers.
Restraints:
The present COVID-19 epidemic has caused concern in several countries and has had an unfavourable impact on the adhesive manufacturing industry. The expansion of the optically clear adhesives market is closely linked to increased demand from consumer electronics, mobile phones, and other devices. The COVID-19 epidemic, on the other hand, is expected to have a significant impact on the electronics device business, as China is one of the key manufacturers of both raw materials and finished products. Thus, hampering the global optically clear adhesives market.
Opportunities:
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Rising investment in renewable energy
Factors driving market revenue growth include increased investment in renewable energy and a growing emphasis by governments throughout the world on installing photovoltaic panels. Because this technology allows for the use of a diverse range of materials with wide bandgaps, photovoltaic cells stacked mechanically require optically clean adhesive bonding for enhanced efficiency.
Segmentation Analysis
The global optically clear adhesives (OCAS) market has been segmented based on resin type, application, industry vertical and regions.
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The resin type segment is divided into acrylic, silicone, polyvinyl acetate, epoxy, polyurethane. The silicone segment is anticipated to grow at a robust rate over the forecast period. Silicone is one of the most often used resins in optically clear adhesives, and its strong temperature resistance features make it perfect for use on substrates that require high-temperature performance. Silicone-based optically clear adhesives can also withstand impact, shock, and vibration while maintaining their stress resistance.
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The application segment includes tablets, smartphone, signage, automotive display screens, monitors. The smartphone segment dominated the optically clear adhesives (OCAS) market with a market share of around 28.4% in 2020. The smartphone segment is the most dominant in the world, as it is the most common mode of communication in both the residential and commercial sectors. During the projected period, the optically clear adhesives market is expected to be dominated by the smartphone segment.
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The industry vertical segment includes automotive energy, electrical & electronics, aerospace. The electrical & electronics segment dominated the optically clear adhesives (OCAS) market with a market share of around 39.7% in 2020. Optically clear adhesives provide numerous advantages in electronics equipment and gadgets, including superior bonding strength, enhanced gap filling, and chemical and thermal stability, and are used in smartphones and laptops, among other things.
Regional Segmentation Analysis
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region emerged as the largest market for the global optically clear adhesives (OCAS)market with a 38.4% share of the market revenue in 2020.
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The market in this region is growing due to a surge in the use of new technology in electronics devices from emerging countries such as India and China, as well as wide developing economies. Furthermore, the presence of a significant number of electronic device manufacturers and customers in this region is propelling market expansion.
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North America accounted for a significant market share in 2020attributed to increased sales of high-end automobiles and strong growth of the electronics industry Furthermore, rising medical instrument innovation has resulted in the adoption of modern technologies in healthcare, necessitating the use of optically clear adhesives for display displays.
Competitive Analysis
The key players are now concentrating on implementing strategies such as adopting new technology, Resin Type innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global optically clear adhesives (OCAS) industry.
Vitality 50004, a revolutionary one-component optically clear adhesive, was launched by Panacol in July 2019. Vitality 50004 is an ultra-low viscosity UV-curable acrylic adhesive that is used for laminating optics and bonding displays.
Source: The Brainy Insights