Portland, OR, Aug. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global optically clear adhesives market generated $1.6 billion in 2020, and is estimated to garner $3.8 billion by 2030, witnessing a CAGR of 8.8% from 2021 to 2030. The report provides a comprehensive analysis of changing market trends, key segments, top investment pockets, value chain, regional scenario, and competitive landscape.
Rise in adoption of consumer electronic devices, surge in demand from the automotive sector, and increase in usage of smart devices drive the growth of the global optically clear adhesives market. However, presence of substitute products hinders the market growth. On the other hand, development of non-corrosive optically clear adhesives and emergence of activated covalent bonding technology present new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities in the electronics, automotive, aerospace, and other sectors were halted due to lockdown measures and safety precautions taken by governments to curb the spread of Covid-19. Owing to huge dependence on these sectors, the demand for optically clear adhesives lowered. However, the demand is expected to rise during the post-lockdown.
- The healthcare sector witnessed an increase in demand for advanced digital instruments in which optically clear adhesives are utilized for display bonding applications of touchscreens & sensors of MRI machines, digital X-ray machines, CT scanners, and others. This led to increased demand for optically clear adhesives from the healthcare sector.
The report offers detailed segmentation of the global optically clear adhesives market based on resin type, device structure, application, end-use, and region.
Based on resin type, the acrylic segment accounted for the highest share in 2020, contributing to nearly one-third of the total share, and is expected to maintain its leadership position during the forecast period. However, the epoxy segment is projected to portray the highest CAGR of 9.7% from 2021 to 2030.
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Based on device structure, the flat segment held the largest share in 2020, accounting for nearly four-fifths of the global optically clear adhesives market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the edge-curved segment is estimated to manifest the largest CAGR of 9.3% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to maintain its dominant share by 2030. However, North America is expected to witness the fastest CAGR of 11.5% during the forecast period.
Leading players of the global optically clear adhesives market analyzed in the research include Chase Corporation, Dow Inc., Delo Industrial Adhesive LLC, Henkel AG & Co. KGAA, Dymax Corporation, Nitto Denko Corporation, Lintec Corporation, Tesa SE, Show Denko Corporation, and The 3M Company.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.