Optical Glass Market Expected to Grow Globally Across Multiple Industries - 2023

Optical glass is an amorphous solid material, which is transparent and used for practical, technological, and decorative usages. It is used as a thermal insulator, reinforcement material, container material for environmental protection, aesthetic, building supplies, and for optical device systems. Optical glass is majorly used in consumer optics, which allows more light to transmit through lenses or glasses with elimination of reflection, thereby improving the clarity in vision. Optical glass incorporated in electronic display units reduces surface reflection, improves display contrast & brightness without increased power consumption, and helps to minimize induced eye fatigue.

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In addition, it enhances performance of semiconductors and ICs in variety of electronic components such as memory, power, microprocessors, hard disc drives, and others. It is employed in various other industries, which include medical & biotech, astronomy, industrial equipment, and others.

Rapid economic growth and rise in disposable income have led to increased adoption of consumer electronics such as smart phones, tablets, laptops, computers, TVs, TFT, and LED screens in emerging economies such as India, China, and Brazil, which boosts the demand for optical glass. According to the National Institution for Transforming India (NITI) Aayog, Government of India, the electronics equipment production of world in 2014 was approximately $2 trillion, which fueled the demand for optical glass in electronics & semiconductor sector. However, volatility in prices of raw materials hampers the market growth.

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.

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The global optical glass market is segmented on the basis of type, application, and geography. Based on type, the market is bifurcated into colorless and colored optical glasses. By supply form, it is divided into plate, round plate, worked rod, prisms, and others. Applications covered in the study include consumer optics, astronomy, industrial equipment, medical & biotech, electronics & semiconductors, and others. The report analyzes the market trends in different geographies, which include North America, Europe, Asia-Pacific, and LAMEA.

The major players profiled in this study include:

• Ohara Corporation
• Carl Zeiss
• CDGM Glass Company
• Edmund Optics
• Nikon Corporation
• Crystran Ltd.
• Sumita Optical Glass
• Sterling Precision Optics
• CORNING
• OAG Werk Optik

Key Benefits

• The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global optical glass market to elucidate the prevailing opportunities and potential investment pockets.
• It offers qualitative trends and quantitative analysis for the period of 20162023 to assist stakeholders to understand the market scenario.
• In-depth analysis of the key segments demonstrates the types of optical glass and its application.
• Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
• The key players in the market are profiled along with their strategies and developments to understand the competitive outlook of the industry.

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