Optical Glass Market is Estimated reach to USD 2,541.45 Million by the end of 2028: Cognitive Market Research

Market Overview:
Optical glass refers to a group of glass compositions that are used to make optical components such as lenses, prisms, beam splitters, and optical windows. Optical glass uses two types glass: flint or crown glass. Flint glass is produced using lead, while crown glass contains a higher level of potassium oxide.
Optical glass has a high quality, homogenous, colourless glass with certain refractive qualities. It is made with a variety of chemicals that alter glass compositions and help to improve qualities that are especially relevant for optical applications. To improve its capacity to transmit light within specified wavelengths, it is made from a variety of raw elements such as boric oxide, lead, zinc oxide, fluorite, and barium oxide, potassium oxide, and phosphorus pentoxide.
Furthermore, the optical glass is available in different types designed for optimizing the transparency and refractive index according to applications and are commercially available. Colourless and coloured forms are widely accepted in the market.
Additionally, these optical glasses are marked in plate, round plate, worked rod, and prism form for various applications. The optical business covers a wide range of applications involving light's characteristics and mobility.

Report Insight:
• The Global Optical Glass Market is is expected to reach USD 2,541.45 Million by the end of 2028, growing at a CAGR of 3.71% between 2021 and 2028.
• The Colorless Revenue in Optical Glass is estimated to reach USD 1,489.56 Million in 2028.
• The Medical Devices Revenue in Optical Glass is anticipated to reach USD 925.84 Million in 2028.
• The Boric Oxide Revenue is projected to reach at USD 905.26 Million in 2028

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Market Drivers:
• Rise in the electronic industries
Optical glass is an amorphous solid material, which finds its application in the consumer electronics such as webcams, mobile phones, automotive components, endoscopes, tablets, and many other connected devices. The rise in the production of the electronic devices, is one of the factors, driving the adoption of the optical glasses in the consumer electronics.
In 2010, the US contributed around 27% of the global value, through the electronic industry. Additionally, introduction of the new foreign investment policies has led to the increased demand for the electronic products and presence of several key players in the developing countries. Moreover, China increased its contribution from 4 % to 23% in the electronic industry.
Some of the major production of the electronic devices occurs in China, which has led to the increased adoption of the optical glasses, as they are used for the formation of the layer in the electronic devices.
The increase in the outsourcing of the manufacturing of the electronic devices has led to the increased adoption of the optical glass in the electronic industry. Moreover, the increased disposable income has led to the rise in the demand for the electronic products, which contribute for the growth of the market.
According to the Indian Brand Equity Foundation (IBEF), the electronic goods export between April 2021 to August 2021 was USD 5.37 billion and for the month of August 2021 it was USD 1.14 billion. The optical glasses also find its application in the semiconductor industries in variety of electronic components such as memory,
power, microprocessors, hard disc drives, and others. Hence, rise in the electronic industry enhances the demand for optical glasses thereby boosting the growth of market.
• Rise in the medical devices and diagnostic products
• Restraints for Optical Glass Market
-Volatility in the prices of raw materials
• Opportunities for Optical Glass Market
-Growing uses of optical glass in building and construction

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Market Segementation:
Raw Material
• Boric Oxide
Boron trioxide (B2O3) is a chemical compound that may be combined with silica to make borosilicate glass (often with some other additions like sodium oxide and aluminium oxide). The BK7 glass, for example, is a crown glass of such sort. Boric oxide (B2O3), introduced as borates, is crucial in optical glass manufacturing because it provides qualities that would be technically impossible or prohibitively costly to accomplish otherwise. It is utilised as a flux in optical glass manufacturing to lower processing temperatures in instances where alkali addition is restricted.
• Potassium Oxide
Crown glass is a form of optical glass used in lenses that is made from alkali-lime silicates with a potassium oxide content of around 10%. Instead of sodium oxide, certain optical glasses include a high concentration of potassium oxide. Zinc Oxide
• Phosphorus Pentoxide
• Fluorite
• Barium Oxide
• Others

Type
• Colorless
Colorless optical glass is mainly BK-7, B270, and other colorless optical glass materials. Colorless optical glass has excellent mechanical properties and very low air bubbles and impurities. It is a good scratch resistant optical glass. This optical glass is used in consumer optics, industrial equipment, medical, biotech, and in semiconductor industry.
• Colored
Colored optical glass is mostly used as a filter. They enable some wavelengths of light to flow through unhindered while restricting others to a certain amount. The coloured optical glass's absorption and transmission capabilities used in employing thin film coatings to accomplish filtering effects.

Application
• Medical Devices
• Consumer Electronics
• Telescope
• Industrial Equipment
• Laser Systems
• Others

Supply Form
• Plate
• Round plate
• Worked Rod
• Prism

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Optical Glass Market Manufacturers Profiles/Analysis:
Schott Glaswerke, Ohara Corporation, HOYA CORPORATION, CDGM Glass Company, Edmund Optics, Nikon Corporation, Crystran Ltd, Sumita Optical Glass, Sterling Precision Optics, CORNING, OAG Werk Optik, Scitec Instruments, Precision Optical, China South Industries Group Corporation, Hubei New Huaguang, Changchun Boxin Photoelectric
 
Edmund Optics Inc.
Edmund Optics Inc. is a manufacturer of optics, imaging and photonics technology that has served a variety of markets including Life Sciences, Biomedical, Industrial Inspection, Semiconductor, R&D, and Defense. The company also produces optical components, multi-element lenses, optical components, multi-element lenses, and others.
The company employs over 1,000 employees in over nine countries across the globe. It has over 235,000 sq. ft. (21,800 m2) of manufacturing space located in the Americas, Europe, and Asia and two world-class design centers.

News
• August 2021
Edmund Optics Expanded its South Korea office in Response to Customer Demand
The company has announced the relocation of its regional South Korea office to a larger facility in the Mapo district of Seoul. This expansion, into largest metropolitan areas, is necessary to put up growing business demands. The new, 2,841 square foot (264 square meter) office has accommodated more employees and an improved, state-of-the-art workspace.

Related Reports:
• Optical Glass Lens Market: https://www.cognitivemarketresearch.com/optical-glass-lens-market-report
• Optical Glass Sheet Market: https://www.cognitivemarketresearch.com/optical-glass-sheet-market-report
• Soft Optical Glass Market: https://www.cognitivemarketresearch.com/soft-optical-glass-market-report
• Colorless Optical Glass Market: https://www.cognitivemarketresearch.com/colorless-optical-glass-market-report

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