Optical Materials Market Size, Share, Opportunities, And Trends By Type (Introduction, Polymers, Quartz, Metals, Glass, Others), By Industry Vertical (Introduction, Aerospace and Defence, Construction, Automotive, Consumer Electronics, Energy, Healthcare, Others), And By Geography - Forecasts From 2025 To 2030

Optical Materials Market Size:

The optical material market is projected to grow at a CAGR during the forecast period.

Optical material possesses optical properties such as transmission, reflection, absorption, refraction, and scattering, etc. Depending on how they interact with visible light, these materials are classified as transparent, translucent, and opaque. Transparent material transmits light while having little absorption and reflection. The materials in which light is transmitted diffusely are called translucent. And, the materials in which light does not transmit are called opaque. These are used for wide applications in consumer products and high-tech industrial requirements.

• Optical materials are critical for aerospace applications due to the complexity of electro-optical systems operating in multiple wavelength regimes and operating under harsh conditions. In addition, the aerospace industry is looking for complete optical systems instead of optical elements and is increasingly outsourcing component integration.  Luna Innovations, a US company specializing in fiber-optic sensing, has acquired OptaSense, which is part of UK aerospace and defense company QinetiQ, for more than $40 million in a deal that transforms it into a distributed fiber-sensing “powerhouse”.
• Global optical materials market growth is attributed to consumer electronics, such as tablets, smartphones, laptops, and wearable devices containing semiconductors. UV-curing-polymer-based optical materials have become more popular in recent years as opposed to glass or injection-molded plastic. As for lenses, they are used for applications such as flashlights, time-of-flight sensors, and miniature cameras. Thus, with a growing consumer electronics industry, optical materials are expected to grow. Sony has reported a record-breaking profit on Pandemic Demand for Consoles, TVs, Music, and Movies. In May 2021, Sony announced that it would sell 14.8 million PS5s this year. In November 2020, the console was launched in the core market for $ 500 and sold out very quickly.

Global demand for optical materials will increase due to their benefit to various industries, such as the automotive industry, due to optical properties such as transmission, reflection, absorption, refraction, and more. Additionally, optical semiconductors are becoming increasingly common in consumer electronics, contributing to market growth. Therefore, the increasing demand for optical materials across a wide range of end-use industries will encourage the optical materials industry to grow.

Optical Materials Market Growth Trends:

• Growth in the construction industry:

The construction industry is growing and its advancement is expected to bring the optical materials market to surge. When used to construct buildings, translucent concrete allows sunlight to easily penetrate and conserve electricity. Fiber optics, glass rods, and resins make up the optical element. There is great potential for the optical material market in the Middle East and the Asia Pacific. Government support and massive ongoing construction projects are allowing the construction sector in this region to grow at a phenomenal rate. India, the UAE, and China are focusing more and more on residential and commercial construction. Building and infrastructure would drive optical material sales in the region as a result of this positive growth. Meanwhile, Indonesia received approximately 2.2 billion dollars in foreign direct investment in real estate and business services in 2020.

The construction industry in India is rapidly expanding, along with urban development projects. By 2025, India is expected to rank third among global construction markets, as the country aims to develop its infrastructure, advance its cities, and boost employment. This industry has been opened up to foreign investment and in 2020 alone, US$5 billion will be invested into the real estate sector. (Source: ibef.org)

• Advancement in medical equipment:

The medical community has long recognized the advantages of optical fibers. Fiber optics are thin, flexible, non-conductive, immune to electromagnetic interference, chemically inert, non-toxic, and, of course, small. Medical sterilization can also be performed on them. Additionally, after Covid-19, countries are making immense investments in healthcare and medical equipment. This is one of the major growth factors for the optic material market. As of early October 2020, COVID-19–related health funding announced by the government of Canada amounted to more than $29 billion. (Source: Canadian Institute for Health Information). A preliminary assessment of health spending in 16 OECD countries shows that health spending reached  9.9% of GDP in 2020, and per capita, health spending drove upwards to 4.9%. Increased government health spending was the primary driver of this growth. (Source: oecd.org).

Wearable medical devices, which largely run on optical materials, are set to flood the market in the coming years, not healthcare professionals but also for patients and other consumers. Within the Asia Pacific, India, China, and Japan are predicted to account for most of the share. China and India have a large population pool, which contributes substantially to market growth.

Optical Materials Market Restraints:

• Manufacturing  cost  and maintenance

The manufacturing cost of optical materials is a possible challenge for the growth of global optical materials. Although optical materials can be installed at a reasonable cost, in the form of wires, they are not as robust. A special piece of equipment is typically needed. The fitting process can sometimes make them highly vulnerable. In comparison to copper wires, optical cables are more delicate. Special devices are needed to ensure optical fiber cable transmission. Placement of an optic cable requires expensive splicing machines and specialized personnel.

Optical Materials Market Players:

The development of high-speed optical fibers is one of the prime reasons driving the optical material market growth during the next few years. Also, the emergence of IoT and increasing focus on developing smart cities will lead to sizable demand in the market. Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the optical materials market.  Major players in the optical materials market are Nikon, Opco Laboratory, Oxide Corporation,  Dynasil, Canon Optron,  Inrad Optics, and Knight Optical LLC among others.

Segmentation:

• By Type
  • Introduction
  • Polymers
  • Quartz
  • Metals
  • Glass
  • Others
• By Industry Vertical
  • Introduction
  • Aerospace and Defence
  • Construction
  • Automotive
  • Consumer Electronics
  • Energy
  • Healthcare
  • Others
• By Geography
  • North America 
    •  United States
    •  Canada
    •  Mexico
  • South America 
    • Brazil
    •  Argentina
    • Others
  • Europe 
    • UK
    • Germany
    • Italy
    • Spain
    • Others
  • Middle East and Africa 
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific 
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis

5. Optical Materials Market Analysis, By Type
5.1. Introduction
5.2. Polymers
5.3. Quartz
5.4. Metals
5.5. Glass
5.6. Others

6. Optical Materials Market Analysis, By Industry Vertical
6.1. Introduction
6.2. Aerospace and Defense
6.3. Construction
6.4. Automotive
6.5. Consumer Electronics
6.6. Energy
6.7. Healthcare
6.8. Others 

7. Optical Materials Market Analysis, By Geography  
7.1. Introduction
7.2. North America  
7.2.1.  United States
7.2.2.  Canada
7.2.3.  Mexico
7.3. South America  
7.3.1.  Brazil
7.3.2.  Argentina
7.3.3.  Others
7.4. Europe  
7.4.1.  UK
7.4.2.  Germany
7.4.3.  Italy
7.4.4.  Spain
7.4.5.  Others
7.5.  Middle East and Africa  
7.5.1.  Israel 
7.5.2.  Saudi Arabia
7.5.3.  Others
7.6. Asia Pacific  
7.6.1.  China
7.6.2.  Japan
7.6.3.  India
7.6.4.  Australia
7.6.5.  South Korea
7.6.6.  Taiwan
7.6.7.  Thailand
7.6.8.  Indonesia
7.6.9.  Others

8.  Competitive Environment and Analysis
8.1.  Major Players and Strategy Analysis
8.2.  Emerging Players and Market Lucrativeness
8.3.  Mergers, Acquisitions, Agreements, and Collaborations
8.4.  Vendor Competitiveness Matrix

9.  Company Profiles.
9.1. Phosctech Photonics
9.2. Korth Kristalle 
9.3. Opco Laboratory
9.4. Glass Fab
9.5. Oxide Corporation
9.6. Eksma Optics
9.7. Nikon
9.8. Jenoptik
9.9. Knight Optical
9.10. Dynasil

Phosctech Photonics

Korth Kristalle 

Opco Laboratory

Glass Fab

Oxide Corporation

Eksma Optics

Nikon

Jenoptik

Knight Optical

Dynasil