The global aspheric lenses market size was worth around USD 8.5 billion in 2022 and is predicted to grow to around USD 14 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.
During the forecast period, the study examines the impact of market drivers, restraints/challenges, and projections on the global aspheric lenses market. In addition, new possibilities for the aspheric lenses market are investigated.
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The Aspheric Lens Industry at a Glance
Different from the standard spherical lens, aspheric lenses have an irregular form. The curvature of an aspheric lens varies over its surface, in contrast to a spherical lens’ uniform curvature. This curvature varies from the lens’s centre to its edges in a progressive fashion, creating a more intricate surface profile. Aspheric lenses are used primarily to reduce the effects of optical aberrations that are accentuated by spherical lenses. Degradation of a picture and the overall quality of an optical system can be brought on by aberrations such spherical aberration, coma, astigmatism, and distortion. In order to increase image quality, resolution, and eliminate optical artefacts, aspheric lenses are created to minimise or eliminate these aberrations.
Aspheric lenses are superior at focusing and bending light rays because of their distinctive surface profile. Aspheric lenses use varying curvatures across their surfaces to adjust for aberrations and provide sharper, clearer images by focusing light onto a single point. Because of their lightweight and small profile, lenses of this form are ideal for use in portable optical instruments. Aspheric lenses can be used in a variety of optical devices, including cameras, eyeglasses, microscopes, and telescopes. They help eliminate optical aberrations and increase image clarity, therefore they’re frequently employed in high-end camera lenses. Aspheric lenses in eyeglasses can improve peripheral vision and reduce distortions in the area around the lens’s borders.
- Our research analyst has revealed that, between 2023 and 2030, the worldwide market for aspheric lenses is expected to expand at a compound annual growth rate (CAGR) of roughly 6.5%.
- The worldwide demand for aspheric lenses is expected to increase to $14 billion by 2030 from its predicted $20.5 billion in 2022.
- The expansion of the aspheric lenses market is anticipated to be fueled by rising demand from various end-use sectors such as consumer electronics, automotive, aerospace, and others.
Ophthalmic and optical products are becoming increasingly popular, which is fueling the industry
Aspherical lenses in eyeglasses can provide a wider field of view, less distortion, and a more attractive appearance than traditional spherical lenses. When paired with contact lenses, especially in dim conditions, an aspherical shape may reduce aberrations and improve clarity. By increasing contrast sensitivity and decreasing reflection, aspherical surfaces on intraocular lenses (IOLs) can improve visual results for patients after cataract surgery. The rising prevalence of eye illnesses such presbyopia, myopia, and cataracts, as well as the necessity for more sophisticated vision-correction technologies, are all factors driving the expansion of the aspherical lens market. In the United States, for example, the Centres for Disease Control and Prevention (CDC) report that out of the 12 million people aged 40 and above who have a visual impairment, 1 million are blind, 3 million have it despite corrective eyewear, and 8 million have it due to uncorrected refractive error. As a result, the aforementioned factors lend credence to the market expanding within the anticipated time frame.
The market could be slowing down because of competition from spherical lenses
Despite their optical shortcomings, spherical lenses continue to find widespread application because of their lower cost and simpler production techniques. Spherical lenses may be a cost-effective option in situations with less severe optical requirements. Aspheric lenses face competition from spherical lenses, which can slow the market’s expansion in price-sensitive regions.
The increasing need for high-quality photographs creates a promising prospect
Digital cameras, professional photographic equipment, and surveillance systems all rely heavily on aspheric lenses to achieve their high resolution image capabilities. The aspheric lenses market has been growing thanks to the rising need for high-resolution photography in fields including security, entertainment, and industrial inspection. The LUMIX S 14-28mm F4-5.6 MACRO, for instance, is a Panasonic ultra-wide-angle zoom lens for the L-Mount system that was released in January 2023. There are three lenses in the new lineup: the LUMIX S 14-28mm F4-5.6 MACRO (S-R1428), the LUMIX S 20-60mm F3.5-5.6 (S-R2060), and the LUMIX S 70-300mm F4.5-5.6 MACRO O.I.S. (S-R70300). The LUMIX S 14-28mm F4-5.6 MACRO has 14 lens elements spread across 10 groups. The LUMIX S 14-28mm F4-5.6 MACRO lens offers magnifications of 0.25x to 0.5x in its macro mode. As a result, this may be a great chance for the growth of the market.
The high cost of production is a major barrier to market growth
The production cost can rise if traditional methods aren’t combined with the latest machinery and skilled labourers. To achieve the necessary precision and performance, these lenses must be constructed from state-of-the-art materials like premium glass or certain polymers. The price of the lens could go up if these parts are expensive. Therefore, aspherical lenses may not be suitable for use in some applications due to their high cost, especially in price-conscious industries like consumer electronics. As a result, the aspheric lenses industry could stagnate in the near future due to the high cost of production.
The Global Aspheric Lenses Market is segmented based on product, application and region
Global Aspheric Lenses Market: Product Segment Analysis
Global Aspheric Lenses Market: Application Segment Analysis
● Consumer Electronics
● Digital Cameras
● Fiber Optics & Photonics
The global aspheric lenses market is dominated by players like:
● Panasonic Holdings Corporation
● Carl Zeiss AG
● Nikon Corporation
● Hoya Corporation
● Thorlabs Inc
● AGC Inc
● Canon Inc
● Tokai Optical Co Ltd
● Calin Technology Co Ltd
● Largan Precision Co Ltd
● Edmund Optics India Private Limited
● asphericon GmbH
● Hyperion Optics
Over the projected time period, Asia-Pacific countries will generate the most money.
Over the projected period, the aspheric lenses market is anticipated to be led by the Asia Pacific region in terms of revenue. The growing urbanisation and industry of the region has increased the need for aspheric lenses. Several major centres for the production of consumer electronics, automobile components, and medical equipment may be found in this area. Crucial to the success of these sectors is the availability of aspheric lenses. Furthermore, the Asia Pacific region is well-known for its innovations in optics, imaging, and precision engineering, particularly in Japan, South Korea, and China. There is a significant aspheric lens market in these nations, with companies devoting resources to R&D to create high-quality aspheric lenses for a wide range of uses. The market is expanding because of the region’s commitment to technical progress.
During the estimated time period, North America will take a sizable chunk of the global market. Rising demand from final-market sectors including the automobile, aerospace, and other industries has contributed to the expansion of the region. Aspheric lenses are in high demand in the North American automobile and aerospace industries. Aspheric lenses are utilised in automobile applications including HUDs, ADAS, and rearview mirrors to give clear, distortion-free images and improve safety. Aspheric lenses are used in a variety of avionics, surveillance, and targeting applications in the aircraft industry.
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