According to the latest research, the demand for Optically Clear Resin (OCR) is anticipated to grow with a compelling growth rate of about 5.5% to 7.5% in between the coming assessment period of 2021-2031.
The automotive application sector is expected to grow at the fastest rate in the optically clear resin market during the forecast period, owing to the rising use of displays in driver assistance. It is a liquid-based bonding method used to adhere display components in display technology and touch screens.
They are optically clear film adhesives with outstanding adherence to a variety of transparent substrates. They are utilised to increase the electrical and mechanical performance of screens as well as their contrast and brightness.
Furthermore, because of their exceptional optical and mechanical properties, they boost the endurance of advanced displays. As a result, they are used in consumer electronics, mobile phones, LCD panels, and other places.
What is Driving Demand for Optically Clear Resin?
The Major factors driving the market are the growing demand from consumer electronics and automotive & transportation industry. Due to increasing demand of personal electronic gadgets around the world, the global optical resin market is experiencing significant growth. The rapid usage of smartphones and LCD televisions is a key component propelling the optically clear resin market forward.
Over the projected period, the aerospace segment is expected to increase at a significantly consistent rate. The use of (OCR) in display screens in aircraft cockpits aids in improved screen display performance and clarity. These resins also effectively bridge any gaps between the lcd/led and the cover glass, as well as giving anti-reflective and anti-glare properties to the cover glass.
Over the projected period, the aerospace segment is expected to increase at a significantly consistent rate. The use of (OCR) in display screens in aircraft cockpits aids in improved screen display performance and clarity. These resins also effectively bridge any gaps between the lcd/led and the cover glass, as well as giving anti-reflective and anti-glare properties to the cover glass.
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Electronic and Automotive Industry Boost the Market of Optically Clear Resin
The electronics sector is the primary end-user of optically clear resins. Touch screen and display applications are the most common places where OCR is used. When mobile devices, televisions, phones, and laptops switch to touch screens, applications are likely to improve. The mobile phone segment dominated the global optically clear resin market in terms of application.
Another segment that drives the market growth significantly is the automotive industry. The development of more innovative digital products and the expansion in the size of display panels and screens used in display panels has resulted from increasing developments in electronic components used in automotive applications.
Some of the key factors driving market revenue growth are a steady increase in clusters of equipment that operate on display screen technologies, such as digital display mirrors and control displays for heating, ventilation, and air conditioning, as well as a growing focus among automotive manufacturers to deliver a more enhanced in-cabin digital experience for customers.
APAC Market Outlook
Due to expanding demand for electronics items, smartphones, and growing sales of electric vehicles in countries like as South Korea, India, China, and Japan, the OCR market in Asia-Pacific is predicted to develop at the fastest rate throughout the forecast period.
The region being the global hub of production for electronic devices as well as automotive industry, demand is expected to be significant in Asia Pacific and estimated to account for largest share in the overall market. Furthermore, the presence of major market players in the region, such as Daxin Materials, contributes to consistent market revenue growth.
North America Demand Outlook
Due to the rapid growth in electronic industry and increasing demand of automotive industry drives the market of optically clear resin in North America. Unites States is the largest manufacture of high performance electric vehicles in North America.
The regions holds a significant share in market due to the presence of significant manufacturing facilities for the global automotive sector, as well as increasing production of niche electronic products.
Who are the Key Manufacturers and Suppliers of Optically Clear Resin?
Some of the leading manufacturers and suppliers of optically clear resin include
- DuPont
- Taica
- Henkel
- LINTECH
- Delo Industrial Adhesives LLC.
- 3M Company
- Electrolube
- Daxin Materials
- Nitto Denko corporation and many others.
Significant growth of Optically Clear Resin market in automotive sector and electronics industry areas in countries such as China and India drive the market in the Asian-pacific region. Key strategies implemented by players in the market include technology releases, acquisitions, and R&D efforts.
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The Optically Clear Resin report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Product Type:
- Acrylic
- Polyvinyl Acetate (PVA)
- Polyurethane (PU)
- Silicone
- Epoxy
By End Use:
- Consumer Electronics
- Smartphones
- Television
- HMI Display Panels
- Tablet Devices
- Laptop & Computer Devices
- Wearable Devices
- Others
- Automotive
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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