The components that are utilized for focussing and diverging light are known as optical lenses. Optical lens material refers to the materials utilised to make these lenses. Depending on the purpose and ultimate usage, a variety of materials are available. Optical lenses were originally made of glass, but currently a variety of composites and polymers are being employed. The material is chosen based on a number of factors, including refractive index, ABBE, specific gravity, reflectance, and light transmission. The photochromic lens material, which darkens when in light and exposed to UV radiations, and the trivex lens material, which provides optical quality, is light weight, gives strength, and provides protection, have all been made feasible by research and development.
COVID-19 Impact analysis
The COVID-19 epidemic has thrown a halt to a variety of enterprises and industries around the world. This has had a negative influence on the optical lens materials business. During the COVID-19 pandemic, however, there is a ray of hope for the optical lens materials market. The SARS-CoV-2 pandemic caused governments around the world to issue stay-at-home directives. Because of this instruction, many people around the world have decided to stay at home. Because children are particularly susceptible to the virus, it is strongly advised that they stay at home. Because of this factor, children's smartphone and television usage has increased. During the lockdown, children's vision difficulties are expected to increase, increasing the demand for optical lenses. This element will eventually cause the optical industry's growth rate to accelerate. Because many of them are glued to cell phones and television, Generation Z and millennials may also face these issues on a massive scale. As a result, during the lockdown time, demand for optical lenses may increase, resulting in strong growth for the optical lens materials market.
Top Impacting Factors
On the back of expanding cases of vision-related to smartphones and electronic gadgets, the optical lens materials market may present expanded potential chances for the optical lens materials market over the projected period Previously, glass was widely utilised in the manufacture of optical lenses, but presently, plastics and secondary composites are gaining popularity. Growing public awareness of the importance of high-quality lenses might be a strong growth driver for the optical lens materials market. The usage of optical lens materials in various operations could further boost the market for optical lens materials. CorNeat Vision, for example, has recently begun human implantation of the CorNeat KPro synthetic cornea.
- The optical lens materials industry is reported to be highly fragmented, with a slew of domestic and foreign competitors vying for first place. Research and development initiatives are assisting key players in the optical lens materials market in discovering fresh technical improvements that serve as a significant growth multiplier.
- The elderly population is expanding in countries such as Japan and China, among others, and the elderly are more likely to suffer from refractive errors, resulting in increased sales of lenses and glasses, which is boosting the worldwide optical lens materials market.
- In both developing and developed countries, rising disposable income and awareness of the importance of using high-quality lenses are driving drivers for the optical lens materials market.
- The increased use of electronic devices such as mobile phones, laptops, and desktop computers is expected to boost market growth. The usage of electronics is expected to increase because of the advent of industrialization and urbanization, resulting in an increase in eye abnormalities and illnesses.
- The market is expected to develop due to an increase in the elderly population, as well as increased public awareness about the benefits of using higher-quality lenses and the materials utilized in lens production.
- The growing tourism industry has resulted in an increase in camera sales, which is expected to increase lens material usage.
- The market is expected to rise because of technological improvements like as Nikon's See Series. The See Series lenses are custom-made, with a double-sided aspheric design and advanced features to meet the wearer's needs.
- The use of thiourethane in lens technology, such as MRTM, has allowed for the creation of thin, light-weight, high-impact-resistant, long-lasting, and safe eyeglass lenses. The manufacture of glycerin-based smart glasses has made it feasible to adjust the curvature by mechanically changing the membranes.
- These glasses also come with a smartphone app that allows the lenses to be calibrated over Bluetooth according to the wearer's eyeglass prescription data. The variety of applications and lens types available has boosted the use of lenses made of various materials. The ability to use and dispose of lenses on a daily basis, as well as their regular replacement, is expected to boost market expansion.
Key Benefits of the Report
- This study presents the analytical depiction of the optical lens material market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the optical lens material market share.
- The current market is quantitatively analyzed to highlight the optical lens material market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed optical lens material market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Optical Lens Material Market Report
- Who are the leading market players active in the optical lens material market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is optical lens material?
- What does optical lens material allow organizations to achieve?
- Which technologies combine to make optical lens material critical organizational asset?
- What are the current trends and predicted trends?
Optical Lens Material Market Report Highlights
By Lens Type
By Application Type
By Design Type
Key Market Players
Cosina Co., Ltd., Meade Instruments Corp., Menicon Co., Ltd., Olympus Corporation, Carl Zeiss AG, Thorlabs Inc, Nikon, Bausch & Lomb Incorporated