Optically Clear Resin Market size was valued at USD 98.36 billion in 2023 and is expected to exceed USD 187.78 billion by 2036, expanding at over 5.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of optically clear resin is evaluated at USD 102.37 billion. The growth of the market can be attributed to the increasing demand for consumer electronics, such as smartphones and LCD televisions, and growing technological advancements in the adhesive industry. In 2021, the total number of smartphone users in the world were about 6 billion. Also, from 2016-2021, the total number of smartphone users grew at an average rate of 12% annually. Along with these, optically clear film adhesives have excellent adherence to a variety of transparent substrates. As a result, they are extensively used for increasing the electrical and mechanical performance of screens, including their contrast and brightness, which in turn is also expected to drive market growth significantly in the upcoming years. Furthermore, rising usage of the resin in display screens in aircraft cockpits is projected to significantly expand the optically clear resin market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
5.1% |
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Base Year Market Size (2023) |
USD 98.36 billion |
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Forecast Year Market Size (2036) |
USD 187.78 billion |
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Regional Scope |
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The market is segmented by end user industry into electrical & electronics, energy, automotive, aerospace, and others, out of which, the electrical & electronics segment is anticipated to hold the largest share in the global optically clear resin market. This can be accounted to the high utilization of the resin in touch screen and display applications for mobile devices, televisions and laptops. Apart from this, optically clear resins are used as a core material for improving the optical performance of displays and sensors, which is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of resin type, the epoxy segment is assessed to observe robust growth during the forecast period owing to the high mechanical properties, ease of processing, and excellent adhesion to a variety of materials of this resin.
Our in-depth analysis of the global market includes the following segments:
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By Resin Type |
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By End User Industry |
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Regionally, the global optically clear resin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is set to dominate majority revenue share by 2036, impelled by growing demand for electronic items, and rising sales of electric vehicles in the region. About 1.3 million battery electric vehicles were sold in the Asia Pacific in 2020, up from 1 million and 0.95 million units of BEVs in the years 2019 and 2018 respectively. In addition, strong presence of prominent market players is also expected to fuel the market growth in the region in the coming years. Moreover, the optically clear resin market in North America is projected to witness noteworthy growth during the forecast period ascribing to the increasing demand for high performance adhesives from the automotive sector, and rising R&D investments in the aerospace industry in the region.
May 2021- Dymax launched 9803 low-shrinkage cationic epoxy for automotive active alignment. The product has claimed to improve 85°C/85% RH resistance, and exhibits less overall movement through thermal excursions..
Author Credits: Rajrani Baghel
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