DUBLIN, May 3, 2023 /PRNewswire/ -- The "Aspherical Lens Market by Type (Glass Aspherical lens, Plastic Aspherical lens), Offering (Double Aspherical lens and Single Aspherical lens), Manufacturing Technology (Molding, Polishing & Grinding), Application and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The aspherical lens market is projected to grow from USD 9.0 billion in 2023 to USD 12.2 billion by 2028, registering a CAGR of 6.2% during the forecast period. Some of the major factors that are driving the growth of the aspherical lens market include rising demand for aspherical lenses for use in digital cameras, growing applications in high-end smartphone cameras, and surging use of aspherical lenses in optical instruments and ophthalmic applications.

However, the complexities of design and manufacturing processes will be a challenge for the market in the future. The major growth opportunities for the market players are rising demand for medical imaging and growing use of infrared aspherical lenses in security and surveillance cameras.

The market for the plastic aspherical lens to grow at a higher CAGR during forecast period

The plastic aspherical lens type segment of the aspherical lens market is expected to account for the largest market size and highest growth rate during the forecast period. Plastic aspherical lenses are optical lenses with aspherical surfaces composed of plastic materials. They are increasingly being used in producing camera lenses, eyeglass lenses, and other optical equipment. Plastic aspherical lenses are generally lighter and less expensive than traditional glass aspherical lenses, making them a more accessible option for many consumers.

Ophthalmic application held the largest share of the aspherical lens market in 2023

In terms of market size, the ophthalmic application is expected to dominate the aspherical lens market and will likely witness significant growth during the forecast period. In the ophthalmic segment, such lenses are mainly used in eyeglasses and contact lenses. Aspherical lenses help patients suffering from myopia, hype myopia, and other conditions by increasing the image quality and vision power. Aspherical eyeglass lenses allow for crisper vision than standard lenses, mostly when looking in other directions than the optical center of the lens. The lenses are also suited to eyeglasses for patients with differing powers in both eyes. Aspherical lenses can also help address astigmatism, nearsightedness, and farsightedness.

Asia Pacific to witness the highest growth among other regions during the forecast period

Asia Pacific is expected to dominate the aspherical lens market during the forecast period Asia Pacific is one of the emerging markets for aspherical lenses. The region has been segmented into China, Japan, South Korea, and Rest of Asia Pacific, which includes Australia, New Zealand, Singapore, and other Southeast Asian countries. The aspherical lens market in Asia Pacific is expected to record the highest CAGR during the forecast period. Growing economies such as China and Japan are the major contributors to the aspherical lens market in this region. In China, the development of city surveillance networks to monitor millions of citizens, and the penetration of surveillance cameras in small and medium-sized enterprises, is expected to drive the demand for aspherical lens elements. The rising requirement for contact lenses to correct myopia, hyperopia, and other eye-related diseases is driving the use of aspherical lenses in the ophthalmic application.

Market Dynamics

Drivers

• Increasing Use of Aspherical Lenses in Optical Instruments and Ophthalmic Applications
• Rising Demand for Aspherical Lenses for Use in Digital Cameras
• Increasing Application in High-End Smartphone Cameras
• Growing Adoption in Automotive Sector

Restraints

Opportunities

• Growing Use of Infrared Aspherical Lenses in Security and Surveillance Cameras
• Rising Demand for Medical Imaging

Challenges

• Complexity of Design and Manufacturing Processes 

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Aspherical Lens Market, by Type
6.1 Introduction
6.2 Glass Aspherical Lens
6.2.1 Increasingly Used in Cameras, and Automotive and Surveillance Applications
6.3 Plastic Aspherical Lens
6.3.1 Light and Cheap Option Used in Various Applications
6.4 Other Types

7 Aspherical Lens Market, by Manufacturing Technology
7.1 Introduction
7.2 Molded
7.2.1 Suited to Mass Production of High-Thermal Stability Lenses
7.3 Polished
7.3.1 Widely Used for Prototyping and Low-Volume Production
7.4 Other Manufacturing Technologies
7.4.1 Increasingly Used to Create Precise Optical Surfaces

8 Aspherical Lens Market, by Offering
8.1 Introduction
8.2 Single Aspherical Lens
8.2.1 Increasingly Used for Ophthalmic Applications and in Optical Systems
8.3 Double Aspherical Lens
8.3.1 Provides Clear and Precise Images

9 Aspherical Lens Market, by Application
9.1 Introduction
9.2 Digital Cameras
9.2.1 Wide Use of Aspherical Lenses to Reduce Errors
9.3 Automotive
9.3.1 Growing Use of Aspherical Lenses in Safety-Critical Devices
9.4 Consumer Electronics
9.4.1 Rising Adoption in High-End Smartphones to Improve Image Quality
9.5 Ophthalmic
9.5.1 Increasing Use of Aspherical Lenses in Diagnostic Instruments
9.6 Fiber Optics & Photonics
9.6.1 Rising Demand from Telecommunications and Other Industries
9.7 Others
9.7.1 Multiple Applications of Aspherical Lenses to Boost Market

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned

• Agc Inc.
• Asia Optical Co. Inc.
• Calin Technology Co. Ltd.
• Canon Inc.
• Dg Optoelectronics
• Esco Optics, Inc.
• Essilor International
• Genius Electronic Optical
• Hoya Corporation
• Hyperion Optics
• Jenoptik Ag
• Knight Optical
• Largan Precision Co. Ltd.
• Lightpath Technologies, Inc
• Mingyue Optical Lens Co. Ltd.
• Nikon Corporation
• Panasonic Holding Corporation
• Schott
• Seiko Optical Products Co. Ltd.
• Shanghai Optics
• Sumita Optical Glass Inc.
• Sunny Optical Technology (Group) Company Limited
• Tokai Optical
• Zeiss International
• Zhejiang Lante Optics Co. Ltd

For more information about this report visit https://www.researchandmarkets.com/r/rrgg38

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