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

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

The optical industry encompasses a wide range of applications that relate to the properties and motion of light. From lenses for eyeglasses and cameras to fiber optics, optical solutions are a constant part of daily life. Optical glass is a fundamental material used in many optical applications, including prisms, lasers, beam splitters, and other optical components. While it shares many of the characteristics of other types of glass, optical glass is manufactured using different chemicals to enhance properties that are useful specifically for optics applications. Optical glass may contain a variety of additives, such as boric oxide, lead, zinc oxide, fluorite, and barium oxide to enhance its ability to transmit light within certain wavelengths. Depending on the chemical composition of the glass, different wavelengths of light, both visible and invisible, can be absorbed, transmitted, or refracted to achieve the desirable optical effect for a given application. The two most common types of optical glass are flint glass and crown glass. Flint glass is produced using lead, while crown glass contains a higher level of potassium oxide. Optical glass is valued for its transparency, purity, and hardness compared to other types of glass.

Market Overview:

The latest research study on the global Optical Glass market finds that the global Optical Glass market reached a value of USD 1991.23 million in 2022. It’s expected that the market will achieve USD 2918.36 million by 2028, exhibiting a CAGR of 6.58% during the forecast period.

Optical Glass Market Driving Force Analysis

The optical glass covers more than 200 types which including environmentally-friendly optical glass, low softening point optical glass, non-eco optical glass and radiation-resistant glass, etc. The technical properties of the products in the optical glass portfolio offer a wide variety of application use. The increasing use of optical glass in consumer optics, industrial equipment, medical and biotech, semiconductors, and other industries is driving the growth of the Optical Glass market across the globe. Optical glass is widely used in consumer electronics such as cameras, mobile phones, projectors, CCTV cameras. It is also widely used in astronomy, biology, medicine, and aerospace, etc. Increasing adoption of flint glass and crown glass for consumer electronics such as smartphones, tablets, laptops, and LED systems, is likely to aid in the market growth of the optical glass market. It is employed in various other industries, which include medical & biotech, astronomy, industrial equipment, and others. In addition, it enhances the performance of semiconductors and ICs in a variety of electronic components such as memory, power, microprocessors, hard disc drives, and others. Moreover, optical glass finds applications in medical devices such as diagnostics & surgical tools and therapeutics, which is expected to provide potential growth opportunities for the market.

Region Overview:

From 2023-2028, Asia is estimated to witness robust growth prospects.

Company Overview:

CDGM Glass Company is one of the major players operating in the Optical Glass market, holding a share of 15.91% in 2021.

CDGM Glass Company was founded in 1956, is the China South industries Group Corporation-owned key enterprises is one of the leading Chinese, has a certain influence in the world of professional supplier of optical materials, production products are widely applied in photoelectric information, as well as aerospace, energy and other fields. CDGM Glass Company produces more than more than 200 varieties of glass, and provision of material, type of material, non-spherical precast products in different forms, meet the needs of modern opto-electronic information products. CDGM Glass Company also provides special glass, lighting glass and e-glass and precious metals such as Platinum, rhodium, processing and purification business.

Corning is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics, along with its deep manufacturing and engineering capabilities, to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Segmentation Overview:

Among different product types, Colorless segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Consumer Optics segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Optical Glass market covered in Chapter 3:

Nikon Corporation
Hubei New Huaguang
CDGM Glass Company
Schott Glaswerke AG
Sumita Optical Glass
CORNING
Ohara Corporation
HOYA CORPORATION

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

Colorless
Colored

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

Consumer Optics
Industrial Equipment
Medical & Biotech
Semiconductors
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)