Global Aspheric Lenses Market – Industry Trends and Forecast to 2030

Global Aspheric Lenses Market, By Type (Glass, Plastic, Other), Application (Cameras, Optical Instruments, Ophthalmic, Mobile Phone, Other) – Industry Trends and Forecast to 2030.

Aspheric Lenses Market Analysis and Size

The aspheric lenses market is booming nowadays. Aspherical lenses are performing superior, and more research and development activities are being completed to make the lenses simple and lighter by using complex designing processes. The demand for transmitters and distance detectors is growing, and security companies are using many cameras for video surveillance, which is one of the major factors for enhancing the market growth. Moreover, aspheric lenses are more commonly used in tablets and smartphones due to the increasing market penetration toward smartphones in both developing and developed nations.

Data Bridge Market Research analyses that the aspheric lenses market is expected to reach USD 188.13 million by 2030, which is USD 115.40 million in 2022, registering a CAGR of 6.30% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Aspheric Lenses Market Scope and Segmentation

Market Definition

An aspheric lens is a category of lens whose surface are not portions of a sphere or cylinder. In photography, a lens assembly that includes an aspheric element is mainly named an aspherical lens. The asphere's more complex surface profile which can eliminate or reduce spherical aberration. These lenses are also helps in decreasing other optical aberrations such as astigmatism.

Aspheric Lenses Market Dynamics

Drivers

• Surging usage of aspheric lenses in optical instrument

Aspheric lenses is widely used in the optical instrument because aspheres minimize spherical aberrations in lens. As a result of this create clear vision in the optical instrument. Aspheres also aid to make the lens thinner and flatter, which decreases peripheral magnification and improves the appearance. All of these factors contribute to the growth of the aspheric lenses market during the projected period,

• Rising demand for aspheric lenses in cameras

Aspheric lenses are mainly used in cameras to correct the distortion which has caused by the lens. This aids to produce a sharp and clear image. They are also utilized to control aberrations, which can cause images to be distorted or blurred. Therefore, rising demand for aspheric lenses in cameras is expected to drive the market growth rate during the forecast period.

Opportunities

• Multiple benefits of using aspheric lenses in optics systems

Aspheric lenses are utilized to reduce spherical aberrations in wide range of applications. As a result of their distinctive shape, these lenses outperform standard spherical lenses in terms of image quality and optical performance. Aspheric lenses are normally used when an element must collimate or concentrate light. Aspherical surfaces on collimating and focusing lenses direct diode laser systems and in high-power industrial fiber laser. The usage of aspherical optics decreases spherical aberration. Spherical aberration is decreased by using aspherical optics, leading to more uniform spot shapes, smaller spot sizes and greater depths of focus. Spherical lens systems require to be equipped with extra parts to resolve the aberrations problem. When additional lens components are used to correct an image, the colour and flare change, contrast, and the lens's weight and size go up. As a result of this, images produced by aspherical lenses commonly have more colour and contrast. The systems with these lenses are simpler and lighter to use because no additional lens is required.  Thus, the multiple benefits of aspheric lenses in optics systems will create lucrative opportunities for the market growth.

Restraints/ Challenges

• High cost associated with the production of aspheric lenses

Aspheric lenses are more costly to form than other standard spherical lenses. Surfaces with a single radius of curvature are utilized to manufacture traditional spherical lenses. Magnetorheological finishing and computer numerical control (CNC) grinding and polishing is the most normally employed procedure (MRF). Computer numerical control (CNC) grinding and polishing and Magnetorheological finishing (MRF) are frequently used to deliver the surface with even more control in manufacturing. Computer numerical control (CNC) grinding and polishing production methods are expensive because this were created by metal. As a result, the aspheric lens market is being constrained by production and high material costs, which also limit the market's growth.

This aspheric lenses market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth  application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aspheric lenses market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Aspheric Lenses Market Scope

The aspheric lenses market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Glass
• Plastic
• Other

 Application

• Cameras
• Optical Instruments
• Ophthalmic
• Mobile Phone
• Other

Aspheric Lenses Market Regional Analysis/Insights

The aspheric lenses market is analyzed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the aspheric lenses market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

North America dominates the aspheric lenses market in terms of market share and revenue owing to growing solution to problem of distortion, astigmatism and spherical aberrations in this region.

Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 due to the rapid growth and expansion of the mobile phone and automotive industry in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Aspheric Lenses Market Share Analysis

The aspheric lenses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aspheric lenses market.

Some of the major players operating in the aspheric lenses market are:

• Canon India Pvt Ltd. (India)
• Panasonic Corporation (Japan)
• HOYA VISION CARE COMPANY (Thailand)
• AGC Inc.(Japan)
• SCHOTT AG (Germany)
• ZEISS Group (Germany)
• SEIKO OPTICAL PRODUCTS CO., LTD (Japan)
• Genius Electronic Optical (GSEO) (Taiwan)
• Largan Precision Co.,Ltd. (Taiwan)
• Asia Optical (Taiwan)