Global Optical Bonding Materials Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Optical Bonding Materials Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Optical bonding refers to a protective glass that is glued in front of a display to enhance its readability where installed in high humidity outdoor environments. When a normal display is used in an outdoor environment, there are some factors that affect its readability. The most common one is “fog”, or condensation, which forms on the inner surface of display's vandal shield. Another factor is the reflection of sunlight, which causes a mirror-image on the display. Both phenomena can be solved by using optical bonding.

Market Overview:

The latest research study on the global Optical Bonding Materials market finds that the global Optical Bonding Materials market reached a value of USD 2331.83 million in 2022. It’s expected that the market will achieve USD 3683.92 million by 2028, exhibiting a CAGR of 7.92% during the forecast period.

The global consumer electronics industry is developing rapidly

In recent years, the global consumer electronics industry has developed rapidly, the level of technological innovation has been continuously improved, and the scale of the industry has continued to expand. With the development of industries such as consumer electronics and new energy vehicles, their requirements for material performance are constantly improving. Traditional single-function protection and bonding materials have been difficult to meet the complex use environment, and the market demand for functional coating composite materials such as Optical Bonding Materials is increasing. This factor has promoted the development of the Optical Bonding Materials market.

Challenges Brought by the Benefits of Scale of a Comprehensive Product Line

Optical Bonding Materials products are mainly used in consumer electronics products. The industry's characteristics of rapid development of consumer electronics and the continuous introduction of new products have put forward higher access conditions for material suppliers. Suppliers of Optical Bonding Materials need to have certain product solution capabilities. This requires materials companies not only to have strong technology accumulation, new product development capabilities, leading production technology and equipment levels, but also raw material supply chain integration capabilities and innovative resource integration capabilities to meet the ever-evolving needs of the consumer electronics market. This factor has brought certain challenges to the development of the Optical Bonding Materials market.

Increased market competition

The Optical Bonding Materials industry, as a key development of new materials industry, has been affected by the extensive expansion of the market application space in recent years, and the market scale has grown rapidly. The broad market prospects have also received extensive attention from funds and enterprises, and the number and scale of industry participants continue to expand. The Optical Bonding Materials industry is a market-oriented and fully competitive industry, and its products face competition from international and domestic counterparts.

Internationally renowned companies in the Optical Bonding Materials industry are in the first mover position in the competition by virtue of their technical strength and financial advantages. Small business competitors may also participate in market competition by increasing R&D investment and expanding production capacity. If market competition intensifies, it may lead to oversupply and lower product prices, which in turn leads to a decline in industry gross profit margins. Such factors may limit the development of the Optical Bonding Materials market to a certain extent.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (37% in 2022).

Company Overview:

3M is one of the major players operating in the Optical Bonding Materials market, holding a share of 17.13% in 2023.

3M

3M Co. is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consist of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

Mitsubishi Chemical

Mitsubishi Chemical Corporation manufactures chemical products. The Company develops, produces, and sells performance products, health care products, industrial materials, and other chemicals. Mitsubishi Chemical provides services for construction, medical, energy, and petrochemical fields.

Segmentation Overview:

As for product types, the Acrylate segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Consumer Electronics, with a market share of 46.5% in 2022.

Key Companies in the global Optical Bonding Materials market covered in Chapter 3:

Henkel
3M
Mitsubishi Chemical
SEKISUI Chemical
DELO
Nitto Denko
Eternal Materials
SDK
Dow
Momentive
LG Chem
Taica
tesa SE
Dymax
Dupont
Dexerials Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Optical Bonding Materials market from 2018 to 2029 is primarily split into:

Epoxy
Silicone
Acrylate
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Optical Bonding Materials market from 2018 to 2029 covers:

Consumer Electronics
Industrial Electronics
Automotive
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)