With a projected growth rate of 5.5% over the course of the forecast period, the global optical glass market, which was valued at USD 1.68 billion in 2021, is projected to reach USD 2.51 billion by 2028
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"The Global Optical Glass Market 2018-2028 (USD Billion)")
The optical glass market share has widened across the world as growing applications in medical devices such as surgical tools & diagnostics and therapeutics, which is anticipated to offer potential growth opportunities for the market. The properties of optical glass like transparent and can be used in technological, practical and decorative usages. There is higher adoption of it as it can be used as reinforcement material, aesthetic, environmental protection, container material, thermal insulator, building supplies, container material and for optical device systems. It has vast applications which is, using it as consumer optics because that allows more light to transmit through lenses or glasses with terminating reflection, thereby enhancing the clarity in vision.
The global optical glass market, based on geography, is segmented into Asia-Pacific, North America, LAMEA and Europe. Growing economic growth and higher disposable income have favored increased adoption of consumer electronics such as laptops, computers, TVs, TFT, smart phones, tablets, and LED screens in emerging countries such as China, Brazil and India, which propelled 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 crossed millions, which escalated the demand for optical glass in semiconductor & electronics sector. However, the factor that may lower the market growth due to volatile price.
The global optical glass market is segmented in the basis of application, geography and type. On the basis of supply form, it is divided into round plate, prisms, plate, worked rod and others. On the grounds of product type, the global optical glass market splits into Colorless and Colored. Based on end user or applications, the global optical glass market is segmented into Consumer Optics, Medical & Biotech, Industrial Equipment, Semiconductors and Others.
The key players of global optical glass market are Edmund Optics, Schott Glaswerke AG, CDGM Glass Company, Ohara Corporation, Nikon Corporation, Crystran Ltd, Sumita Optical Glass, Hubei New Huaguang, Sterling Precision Optics, CORNING, China South Industries Group Corporation, OAG Werk Optik, HOYA CORPORATION, Precision Optical Inc., Changchun Boxin Photoelectric Co.
Optical Glass Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 2.51 billion |
| Growth Rate | CAGR of 5.5 % during 2018-2028 |
| Segment Covered | Applications, Types, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Praxair Technology, Inc.; Oxygen & Argon Works Ltd.; The Linde Group; Matheson Tri-Gas, Inc.; SOL Spa; Merck KGaA; Air Liquide; Airgas, Inc.; and Ellenbarrie Industrial Gases Ltd. |
Key segments of ‘Global Optical Glass Market’
Based on applications, the market has been segmented into,
- Consumer Optics
- Industrial Equipment
- Medical & Biotech
- Semiconductors
- Others
Based on types, the market has been segmented into,
- Colorless
- Colored
Based on types, the market has been segmented into,
- North America
- Europe
- China
- Japan
- India
- Others
Based on market players, the market has been segmented into,
- 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
Frequently Asked Questions (FAQ) :
The application of the optical glass market Consumer Optics, Industrial Equipment, Medical & Biotech, Semiconductors and other.
The major players are Edmund Optics, Schott Glaswerke AG, CDGM Glass Company, Ohara Corporation, Nikon Corporation, Crystran Ltd, Sumita Optical Glass, Hubei New Huaguang, Sterling Precision Optics, CORNING, China South Industries Group Corporation, OAG Werk Optik, HOYA CORPORATION.
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