Aspherical Lens Market Forecasts to 2028 – Global Analysis By Offering (Single and Double), Type (Glass and Plastic), Manufacturing Technology (Molding and Polishing & Grinding), Application (Consumer Electronics, Digital Cameras, Optical Instruments an

Aspherical Lens Market Forecasts to 2028 – Global Analysis By Offering (Single and Double), Type (Glass and Plastic), Manufacturing Technology (Molding and Polishing & Grinding), Application (Consumer Electronics, Digital Cameras, Optical Instruments and Automotive) and By Geography

According to Stratistics MRC, the Global Aspherical Lens Market is accounted for $115.40 million in 2022 and is expected to reach $186.19 million by 2028 growing at a CAGR of 8.3% during the forecast period. A type of lens known as an aspheric lens has surfaces that are not sphere or cylinder portions. An aspheric element-containing lens assembly is commonly referred to as an aspherical lens in photography. Spherical aberration can be eliminated or reduced thanks to the more complex surface profile of the asphere. These lenses also aid in reducing astigmatism and other optical aberrations.

According to National Development and Reform Commission data, all key public areas in China are expected to be protected with video surveillance cameras with facial recognition technology to reduce crime and ensure social stability.

Market Dynamics

Driver

Increment in the use of aspherical lenses in optical devices and ophthalmic applications

In these optical instruments, aspheric lenses are frequently used because they reduce spherical aberrations and produce clearer images. Additionally, aspherical lenses help to flatten and thin the lens, which improves its appearance and reduces peripheral magnification. Aspherical lenses are ideal for applications that call for high light throughput because they enable optical engineers to increase the numerical aperture size of a lens without sacrificing image quality. Eyeglasses with aspherical lenses have a flatter appearance, less distortion, and a wider field of view than those with traditional spherical lenses. In order to improve the visual outcomes for patients after cataract surgery, aspherical surfaces can be added to the intraocular lenses (IOLs). These improvements include increased contrast sensitivity and decreased reflection.

Restraint

High aspherical lens production costs

The radius of curvature of an aspherical lens is not constant. Smaller sub-apertures with various curvature radii are therefore used in different locations on the surface. Because only one large tool may be used, various manufacturing processes must be applied to deal with these sub-apertures in various ways. Consequently, aspherical lenses need a more involved manufacturing process than conventional spherical lenses. Due to the requirement for cutting-edge manufacturing techniques, tools, and labor, this may raise the cost of production. In order to achieve the required accuracy and performance, such lenses also need to be made of cutting-edge materials, like high-quality glass or specific plastics. These materials can be pricey, which pushes up the price of the lenses. As a result, aspherical lenses' high price may limit their use in some applications, especially in markets where price is an important consideration, like consumer electronics.

Opportunity

Increasing use of infrared aspherical lenses in security and surveillance cameras

An IR aspherical lens can capture sharper images even in total darkness because it transmits more infrared light than a conventional lens. This is especially helpful in applications for security and surveillance, where it's important to capture distinct pictures of intruders or suspicious activity. The lenses serve as sensors that sound alarms during a break-in or crime to deter burglars. These lenses help to quickly identify suspects without letting the target know where the camera is currently pointed. Far-infrared ray lenses are used by security systems to see through dust, heavy rain, and fog. They also have a magnifying feature that helps the lens focus on the object it is viewing. In order to maintain round-the-clock surveillance and prevent illegal activities, there has been a recent surge in demand for security cameras.

Threat

Process complexity in manufacturing and design

The global Aspherical Lens market expected to hamper growth during the forecast period, Larger aspherical lenses can be more challenging to produce. The reason for this is that as a lens gets bigger, its surface curvature gets more complicated, making it harder to manufacture with precision. Challenges are being presented to market participants by these restrictions on the design and manufacturing methods for aspherical lenses.

Covid-19 Impact

COVID-19 pandemic was spread across the globe in 2020. Consumer confidence is still impacted by the uncertainties surrounding COVID-19. Additionally, shoppers have continued to be more cautious and have cut back on spending on luxuries in favor of necessities. Supply chains around the world are experiencing disruptions. Famous producers of smartphones and other consumer goods shut down their factories in China in February 2020. Component shortages, factory closings, quarantine rules, logistical challenges, and travel restrictions were the main obstacles for consumer electronics manufacturers in producing handsets and launching new products.

The Single segment is expected to be the largest during the forecast period

In 2022, the segment for single aspherical lenses held the largest market share. Two surfaces make up a single aspherical lens, one of which is flat or spherical and the other not. Single aspherical lenses are frequently used in camera lenses, eyeglasses, and other optical systems that require the correction of aberrations. A single aspherical lens is less complicated and more affordable to produce because of its straightforward construction and lack of additional lens elements. The market is expanding as a result of rising R&D efforts and rising demand for such lenses.

The Molding segment is expected to have the highest CAGR during the forecast period

In 2023, the aspherical lens market's molded segment held the largest market share. Furthermore, it is anticipated that it will dominate the market during the projection period and record the highest CAGR between 2023 and 2028. The molding method has the benefit of being able to quickly and effectively produce high-precision aspherical lenses with complex shapes, which is especially useful for mass production. Manufacturing lenses for products like cameras, cell phones, and high-end medical systems uses precision glass molding. Market expansion is being driven by rising demand for aspherical lenses with high thermal stability in large quantities.

Region with largest share

During the forecast period, the Asia-Pacific region generated the highest revenue share, driving the aspherical lens market. The reason for this is that aspherical lenses are more frequently used in a variety of fields, such as ophthalmology, digital photography, fiber optics and photonics, and driverless cars. The growing demand for aspherical lenses in Japan, China, and South Korea, as well as the growing use of aspherical lenses in ophthalmology and self-driving vehicle technologies, are also anticipated to fuel market growth in this region.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period. Due to the growing adoption of aspherical lenses across numerous industries, including fiber optics and photonics, digital cameras, autonomous vehicles, and ophthalmics. For aspherical lenses, China is anticipated to be the region's biggest market. The increasing adoption of high-end smartphones, rising demand for video surveillance, and high vehicle production are the main factors propelling the aspherical lens market in the region. The market is growing as a result of the expanding use of cameras in a variety of industries, the accessibility of remedies for astigmatism, distortion, and spherical aberrations, and the explosive growth of the mobile phone and automotive industries

Key players in the market

Some of the key players in Aspherical Lens market include Ametek(Zygo Corporation), Asahi Glass Co.(AGC), Asia Optical, Asphera Incorporated, Calin Technology Co., Ltd., Canon India Pvt Ltd., Edmund Optics, Genius Electronic Optical (GSEO), Hitachi High-Technologies Corporation, Largan Precision Co.,Ltd., LightPath Technologies, Mingyue, Nikon Corporation, OPTIMAX, Panasonic Holding Corporation, SCHOTT AG, SEIKO Optical Products Co., Ltd., Shanghai Optics Inc., Sunny Optical Technology and Thorlabs, Inc.

Key Developments

In April 2023, Canon Europe released RF 100-300mm F2.8L IS USM. The new telephoto zoom lens is compact and lightweight, has a minimum focusing distance of 1.8m, a 0.16x maximum magnification, and weighs 2.59kg.

In February 2023, Nikon introduced NIKKOR Z 26mm f/2.8 lens in India. The new NIKKOR Z 26mm f/2.8 lens is a part of the NIKKOR Z series. The lens is 23.5 mm long and has a 70 mm diameter. Additionally, the lens has a minimum focus distance of 0.2m and is equipped with a stepping motor (STM), and a control ring for precise focus adjustment.

In January 2023, Panasonic announced the launch of LUMIX S 14-28mm F4-5.6 MACRO, an ultra-wide-angle zoom lens based on the L-Mount system. The new range offers three lenses’ options, LUMIX S 14-28mm F4-5.6 MACRO (S-R1428), LUMIX S 20-60mm F3.5-5.6 (S-R2060), and LUMIX S 70-300mm F4.5-5.6 MACRO O.I.S. (S-R70300). The LUMIX S 14-28mm F4-5.6 MACRO consists of 14 lens elements in 10 groups. The LUMIX S 14-28mm F4-5.6 MACRO features, 0.25-0.5x macro capability.

Offerings Covered
• Single
• Double
• Other Offerings

Types Covered
• Glass
• Plastic
• Other Types

Manufacturing Technologies Covered
• Molding
• Polishing & Grinding
• Other Manufacturing Technologies

Applications Covered
• Consumer Electronics
• Digital Cameras
• Optical Instruments
• Automotive
• Ophthalmic
• Fiber Optics & Photonics
• Mobile Phone
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance