Press release
Molded Glass Lens - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
The global market for Molded Glass Lens was estimated to be worth US$ 1408 million in 2023 and is forecast to a readjusted size of US$ 2559.7 million by 2030 with a CAGR of 8.9% during the forecast period 2024-2030
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https://www.qyresearch.com/reports/2212888/molded-glass-lens
ABH Optics Raises €1M to Advance Revolutionary Eyeglass Lenses
Geneva, Switzerland - August 14, 2024
Danish startup ABH Optics has successfully raised €1 million in pre-seed funding to develop and commercialize the world's thinnest and lightest eyeglass lenses. Founded in 2022 and based in Rungsted Kyst, the company leverages cutting-edge nanotechnology to produce ultra-thin, lightweight lenses that cater to high prescription powers, particularly benefiting the 13% of eyeglass wearers with prescriptions over +/- 4 diopters.
The funding, led by High-Tech Gründerfonds (HTGF), will accelerate the development of ABH Optics' proprietary meta-optic lenses, which are not only thinner and lighter than conventional lenses but also environmentally friendly, using significantly less plastic. These lenses, even for extreme prescriptions up to +/- 20 diopters, are less than 2 mm thick, marking a significant innovation in the eyewear industry.
ABH Optics is a spin-off from the Technical University of Denmark (DTU) and has received considerable support from various research initiatives, including an exclusive IP license from DTU. The company aims to revolutionize traditional lens manufacturing, offering a more comfortable and aesthetically pleasing solution for those with high dioptre prescriptions.
CEO Bo Svarrer Hansen expressed excitement about the funding milestone, emphasizing the company's commitment to enhancing both the user experience and sustainability in lens production.
Policy Analysis
The European eyeglass lens industry, like the broader optical sector, is at a critical juncture, influenced by a range of environmental, economic, and regulatory pressures. The industry is navigating these challenges through innovations in sustainability, competitiveness, and workforce development.
Environmental Regulations and Sustainability
Sustainability is a significant focus within the European eyeglass lens industry, driven by the EU's broader environmental goals, including the Green Deal and the "Fit for 55" package. Companies are investing heavily in reducing carbon emissions and minimizing waste in the production process. For instance, ZEISS Vision Care has implemented measures to significantly reduce plastic usage and water consumption in lens production. The company has also moved towards using 100% green energy, contributing to a substantial reduction in carbon emissions. Such initiatives are essential as the industry works towards achieving carbon neutrality by 2050.
Industrial Competitiveness
The European eyeglass lens industry faces intense global competition, particularly from regions with less stringent environmental regulations. To maintain its competitive edge, the industry is focusing on innovation and advanced manufacturing technologies, often referred to as Industry 4.0. Germany, for example, is known for its high-quality production of prescription eyewear and has been a leader in integrating cutting-edge technologies to enhance both product quality and manufacturing efficiency. Italy and France also play significant roles, with Italy leading in fashion eyewear and France excelling in high-end sunglasses.
Innovation and Research
Innovation is at the heart of the European eyeglass lens industry's strategy to stay ahead of global competition. The industry is increasingly adopting Industry 4.0 technologies, which involve the use of smart manufacturing processes to improve product quality and sustainability. Research and development are crucial, particularly in creating lenses that meet the growing demand for high-performance and environmentally friendly products. Companies are also exploring new materials and production techniques that reduce the environmental impact while enhancing the functionality of eyewear.
Workforce and Employment
As the industry evolves, so does the need for a skilled workforce capable of operating in an increasingly digitized manufacturing environment. The transition to more sustainable and technologically advanced production methods requires continuous upskilling and reskilling of workers. The EU's policies emphasize not only the importance of creating new jobs in this transforming sector but also ensuring that these jobs are sustainable and offer quality employment opportunities.
In summary, the European eyeglass lens industry is navigating a complex landscape of environmental responsibilities, global competition, and technological innovation. By focusing on sustainability, enhancing industrial competitiveness, and investing in workforce development, the industry is positioning itself for continued leadership in the global market.
Market Overview
The European glass lens market is a dynamic and rapidly evolving segment within the broader eyewear industry, driven by technological advancements, demographic changes, and shifting consumer preferences.
Market Size and Growth
As of 2023, the European glass lens market is a significant component of the global eyewear industry, with the region contributing substantially to overall market revenues. The global eyeglass lens market was valued at approximately USD 43.15 billion in 2022 and is expected to reach around USD 71.55 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2%. In Europe, the market is projected to grow steadily, driven by the increasing prevalence of vision disorders, particularly among the aging population, and the rising demand for high-quality vision correction solutions.
Key Market Segments
Progressive Lenses: These lenses, which offer a seamless transition between multiple focal points, are gaining popularity due to their convenience and aesthetic appeal. They represent the largest segment within the market, catering to a broad age group.
Single-Vision Lenses: These are primarily used for correcting specific vision problems like myopia and hyperopia. They remain highly sought after due to their simplicity and cost-effectiveness.
Photochromic and Polarized Lenses: These specialized lenses are becoming increasingly popular, particularly among consumers who spend significant time outdoors. They offer additional functionalities such as UV protection and glare reduction.
Distribution Channels
The European market is dominated by offline sales channels, including optometry clinics and specialty eyewear stores, which account for the largest share due to the personalized services they offer. However, the online retail segment is rapidly growing, driven by the convenience of shopping from home and the availability of a wide range of products at competitive prices.
Key Players and Competitive Landscape
The European glass lens market features several key players, including industry giants like EssilorLuxottica, Hoya, and ZEISS Group, who are leading the market through innovation and strategic expansions. For example, EssilorLuxottica's recent ventures include partnerships aimed at enhancing myopia management technologies, reflecting the company's focus on addressing emerging vision care needs.
Future Outlook
The market is expected to continue its growth trajectory, supported by ongoing advancements in lens technology, increasing awareness of eye health, and the rising demand for specialized lenses. Innovations such as blue light blocking coatings and anti-reflective coatings are likely to drive further market expansion, particularly as consumers become more health-conscious and technology-driven.
Regulation Differences
The regulatory landscape for the glass lens industry in Europe is notably stringent and comprehensive, reflecting the EU's broader focus on consumer safety, environmental sustainability, and product quality. Here's a summary of key regulatory differences and challenges in comparison with other major markets like the USA and Asia:
1. Product Compliance and Safety Standards
In Europe, glass lenses fall under several regulations, including the Personal Protective Equipment (PPE) Regulation (EU) 2016/425, which requires CE marking for products that ensure health and safety. This standard is particularly important for lenses used in eyewear, which must pass rigorous tests for impact resistance, optical quality, and material safety. By contrast, in the USA, the FDA oversees eyewear lenses under Title 21 CFR Part 801, focusing more on impact resistance (e.g., the "drop ball test") and labeling requirements.
2. Environmental Regulations
The EU imposes strict environmental regulations on the glass lens industry through directives like the Packaging and Packaging Waste Directive and the more recent initiatives on Extended Producer Responsibility (EPR). These regulations mandate that manufacturers minimize packaging waste, limit the use of hazardous substances, and achieve specific recycling targets by 2030. The USA has fewer centralized regulations in this regard, often relying on state-level legislation to manage packaging waste and environmental impact.
3. Market Surveillance and Compliance
European market surveillance has been intensified, especially with the growing focus on supply chain transparency and ESG (Environmental, Social, and Governance) compliance. The EU's rigorous market surveillance practices ensure that non-compliant products, particularly those entering the market via e-commerce channels, are identified and removed swiftly. This is in contrast to the US system, where surveillance is less centralized and often handled by a combination of federal and state agencies.
4. Human Rights and ESG Compliance
Recent EU directives place a strong emphasis on human rights due diligence, requiring companies to actively monitor and report on the human rights implications of their supply chains. This is a more proactive and comprehensive approach than what is typically seen in the USA or Asia, where similar regulations are either less stringent or still developing.
5. Standardization and Harmonization
The EU prioritizes the harmonization of standards across member states, ensuring that products like glass lenses meet uniform safety and environmental criteria. Organizations such as CEN/TC 129 work to maintain these standards, which are often stricter and more detailed than those in the US or Asian markets. For instance, European standards for glass in buildings, which include spectrophotometric characteristics and sound insulation properties, demonstrate the high level of detail expected from manufacturers.
Key Drivers
The European glass lens industry is driven by several key factors that are shaping its growth and development in the region:
Aging Population and Increasing Vision Disorders: One of the primary drivers is the rising elderly population in Europe, which leads to a higher prevalence of vision-related issues such as presbyopia, myopia, and cataracts. This demographic trend significantly boosts the demand for corrective eyewear, including high-quality glass lenses. As the population ages, the need for vision care products becomes more pronounced, supporting steady market growth.
Technological Advancements: Innovation in lens technology, particularly the development of advanced materials and coatings, is another major driver. For instance, the increasing use of high-index plastics and polycarbonates, which offer better durability and comfort, has enhanced the functionality and appeal of glass lenses. Additionally, advancements in digital lens technology, such as blue light blocking and anti-reflective coatings, cater to the growing needs of consumers who spend extensive time on digital devices.
Fashion and Lifestyle Trends: The European market has seen a shift in consumer preferences towards fashionable eyewear, where glasses are not just a necessity but also a style statement. The growing trend of purchasing multiple pairs of glasses to match different outfits or occasions is driving demand for a wider variety of lens options, including tinted, photochromic, and polarized lenses.
Online Distribution Channels: The increasing popularity of online retail platforms is facilitating easier access to a wide range of eyewear products. E-commerce has become a significant driver by offering consumers the convenience of purchasing from home, coupled with competitive pricing and a broader selection of products. This trend is particularly strong among younger consumers who prefer the ease of online shopping.
Environmental and Regulatory Factors: The stringent environmental regulations in Europe, such as those related to the use of sustainable materials and waste reduction, are pushing companies to innovate and develop eco-friendly products. Compliance with these regulations not only ensures market access but also aligns with the growing consumer demand for sustainable and ethically produced goods.
Investment Opportunities
The European glass lens industry presents several compelling investment opportunities driven by the sector's growth potential, technological advancements, and favorable market dynamics. Here are some of the key areas where investors might consider focusing:
1. Technological Innovation and R&D
The ongoing advancements in lens technology, such as the development of high-index lenses, anti-reflective coatings, and blue light filtering technology, offer significant investment potential. Companies that are at the forefront of innovation in these areas, particularly those developing lenses that cater to the increasing use of digital devices, are likely to see strong growth. Investing in R&D initiatives or startups that focus on these innovations could yield substantial returns as demand for advanced lenses continues to rise.
2. Sustainability and Eco-Friendly Products
With Europe's stringent environmental regulations and increasing consumer demand for sustainable products, there is a growing market for eco-friendly lenses. Companies that invest in sustainable manufacturing processes, recyclable materials, and low-carbon production methods are likely to gain a competitive edge. This is particularly relevant as the EU pushes for greener practices across industries. Investors can explore opportunities in companies that are pioneering sustainable lens production.
3. E-Commerce and Digital Platforms
The shift towards online retailing in the eyewear sector, accelerated by the pandemic, continues to create investment opportunities. E-commerce platforms that offer a wide range of glass lens options, including virtual try-on technology and personalized recommendations, are well-positioned for growth. Investing in digital platforms or companies that are enhancing their online presence can be a lucrative opportunity as consumers increasingly prefer the convenience of online shopping.
4. Emerging Markets in Eastern Europe
Eastern European countries are experiencing rapid growth in their eyewear markets, driven by increasing disposable incomes and greater awareness of vision care. These emerging markets represent a significant opportunity for investment, particularly in expanding retail operations, manufacturing capabilities, and distribution networks in these regions.
5. Consolidation and Strategic Partnerships
The glass lens industry in Europe is also seeing consolidation through mergers and acquisitions, as larger companies seek to expand their market share and diversify their product offerings. Strategic investments in smaller, innovative companies or forming partnerships with established players can provide access to new technologies and markets. This trend towards consolidation presents opportunities for private equity firms and strategic investors looking to capitalize on the industry's growth.
6. Healthcare and Vision Care Services
Investments in companies that integrate glass lenses with broader healthcare and vision care services, such as optometry clinics or integrated health services, are another avenue for growth. As the population ages and the prevalence of vision disorders increases, there is a growing need for comprehensive vision care services that include the latest in lens technology.
Related Market Reports From QY Research
QY Research Releases Comprehensive Market Reports on the Glass Lens Market, as shown in the links below. These reports provide an in-depth analysis of the current market landscape, key trends, and future growth opportunities.
Global Glass Lens Market Insights, Forecast to 2030
https://www.qyresearch.com/reports/3047681/glass-lens
Global Molded Glass Lens Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
https://www.qyresearch.com/reports/2706878/molded-glass-lens
Mineral Glass Lens - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
https://www.qyresearch.com/reports/2581017/mineral-glass-lens
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Molded Glass Lens market is segmented as below:
By Company
Hoya Optics
Lianchuang Electronic Technology
Asia Optical
AGC
Sunny Optical Technology
Dongguan Yutong Optical Technology
Zhejiang Lante Optics
Zhong Yang
Calin Technology
LightPath Technologies
Young Optics
Segment by Type
Below 10mm
10-50mm
Above 50mm
Segment by Application
In-vehicle Cameras
Mobile Phone Cameras
HD Surveillance
Face Recognition
Other
Each chapter of the report provides detailed information for readers to further understand the Molded Glass Lens market:
Chapter 1: Introduces the report scope of the Molded Glass Lens report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Molded Glass Lens manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Molded Glass Lens market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5: Sales, revenue of Molded Glass Lens in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6: Sales, revenue of Molded Glass Lens in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Molded Glass Lens competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Molded Glass Lens comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Molded Glass Lens market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Global Molded Glass Lens Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global Molded Glass Lens Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
Global Molded Glass Lens Market Insights, Forecast to 2030
Global Molded Glass Lens Market Research Report 2024
Global Spherical Molded Glass Lens Market Insights, Forecast to 2030
Global Spherical Molded Glass Lens Market Research Report 2024
Global Aspherical Molded Glass Lens Market Insights, Forecast to 2030
Global Aspherical Molded Glass Lens Market Research Report 2024
Global and China Molded Glass Lens for Automotive Market Report & Forecast 2024-2030
Molded Glass Lens for Automotive- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Molded Glass Lens for Automotive Market Insights, Forecast to 2030
Global Molded Glass Lens for Automotive Market Research Report 2024
Global Aspherical Molded Glass Lens for Automotive Market Insights, Forecast to 2030
Global Aspherical Molded Glass Lens for Automotive Market Research Report 2024
Global Aspherical Molded Glass Lens for In-car Camera Market Insights, Forecast to 2030
Global Aspherical Molded Glass Lens for In-car Camera Market Research Report 2024
Molded Glass Lens - Global Market Insights and Sales Trends 2024
Global Molded Glass Lens Market Research Report 2023
Global Molded Glass Lens Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
Global Molded Glass Lens Market Insights, Forecast to 2029
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