Plastic Lens Market

Plastic Lens Market Growth Outlook for 2023 to 2033

Plastic lenses are commonly used in eyeglasses and sunglasses due to their lightweight, impact resistance, and cost-effectiveness. Apart from eyeglasses, these lenses are used in many consumer-level cameras and lenses, particularly in point-and-shoot cameras and smartphones.

They are lightweight and cost-effective and can be produced in high volumes with consistent quality.

Lenses made of plastic are used in medical devices such as endoscopes and microscopes due to their optical clarity, biocompatibility, and durability. Furthermore, these lenses are also used in automotive parts such as headlights, taillights, and other automotive lighting systems due to their durability, lightweight, and impact resistance.

They can also be produced in various shapes and sizes to meet the specific design requirements of a particular vehicle. Owing to the rising possible applications of these lenses the market is anticipated to grow rapidly in the forecast period 2023-2033.

What are the key impelling factors of the rising demand for lenses?

Increasing screen time due to propelled penetration of TV, and smartphones foster demand for lenses.

The use of mobile phones and televisions has increased significantly due to the growing popularity of the Internet. As a result, many people experience vision-related issues, which is driving up demand.

These lenses have become much more popular and in demand as a result of their many useful functional qualities, such as no distortion, shatter resistance, and great resistance to fracture.

Plastic lenses' ability to withstand breaking has increased demand for them in the safety equipment market. One of the main factors contributing to strong demand in the international market is their long service life.

It is also anticipated that the use of these lenses in medical devices like magnifiers or vision correction will create a sizable market for their sales. It is also anticipated that the availability of eye-catching colors will increase demand.

Increased use of vision correction to retain major sales in the forecast period.

Plastic lenses are commonly used in vision correction, particularly for eyeglasses and extended-wear contact lenses. These can be made from a variety of materials, including polycarbonate, CR-39, and high-index plastics. Each material has its own unique properties that make it suitable for different vision correction needs. These lenses are common materials used for intraocular lenses (IOLs), which are artificial eye lenses that are implanted in the eye during cataract surgery or other types of eye surgeries to replace the natural lens that has become cloudy or damaged.

One of the most popular types of plastic lenses used for vision correction is polycarbonate lenses. Polycarbonate resins are commonly used for manufacturing these lenses due to their unique properties that make them highly suitable for optical applications.

What makes a plastic variant grab more demand over a glass variant?

Lightweight, durability, and safety are features of attraction

Plastic variants of lenses are widely gaining popularity due to their properties and lighter weight. Glass lenses have so far been employed in a variety of applications.

Plastic lenses have been created as a result of the brittleness and ease of deterioration of glass lenses. In terms of UV resistance, durability, and safety for use during sports or other strenuous activities where the glass lens is prone to break, plastic ones have significant advantages over glass lenses.

Furthermore, these lenses can be coated with various coatings depending on end-user requirements. The low weight of plastic compared to glass is among the factors that have increased their comfort and user-friendliness.

Coatings, such as anti-reflective coatings that are difficult to apply on glass lenses, can be easily applied on plastic ones. In addition, plastic variants can provide better protection from flying sparks from fireworks, campfires, welding, and grinding work.

Rising use of eye safety equipment to propel demand further

Plastic variants are used in the eye-safety equipment of military personnel, police, and firefighters as they offer shatter resistance. As colored contact lenses are widely popular these lenses can be tinted with a specific range of colors, which boosts their cost, however, it makes them more attractive. These lenses are available in various shapes and sizes in the market and are used in various equipment such as microscopes and projectors.

What are the restraints faced by the market?

Plastic products are prone to climate and temperature which may change the shape of lenses. Moreover, the comparatively good clarity and anti-scratch property offered by glass lenses at a low cost as compared to plastic types are likely to restrain the growth of the market.

Moreover, the plastic variant isn’t suitable for applications where superior optical clarity is needed like in cinema lenses made from glass. Cinema lenses are typically made with high-quality glass elements, as they offer superior optical clarity and minimal distortion compared to plastic elements.

Research and Development

• Rodenstock is known to be the first-ever lens manufacturer to focus on the precise measurements of each eye and manufacture biometric intelligent glasses thereafter. The company takes the biometrics of the whole eye including the length of the eye and thousands of data points. Based on the data generated, Rodenstock calculates a biometric eye model and works further on the lens.
• Leading producer of lenses, Essilor is currently attempting to improve the optical performance of its lenses with innovative technology. In addition to exploring new manufacturing techniques to increase the consistency and precision of their lens production, they are investigating novel materials and coatings to improve the clarity and scratch resistance of their lenses.
• Hoya is a leading manufacturer of eyeglasses and other optical applications, and they are currently working on developing new lens designs to improve visual acuity and reduce eye strain.

Key market players

• Plastic Optics
• Lensel Optics Pvt. Ltd.
• Toyotec Co., Ltd.
• Korea Optical Co., Ltd.
• Bluebell Industries Ltd.
• Luxottica Group S.p.A.
• Tokai Optical Co., Ltd.
• Hinode Co., Ltd.
• Rodenstock GmbH

Regional Outlook

Asia Pacific region is expected to show significant growth as it holds a large population and prominent markets for the sales of plastic lenses in eye safety equipment. Countries like India and China are projected to be lucrative through 2030. China and India together hold the world’s largest population, hence, they are expected to be the prominent markets for the sales of these lenses in eye safety equipment, medical equipment as well as military equipment.

North America is expected to be another big market for growth as nearly one-third of the population aged below 40 years suffers from problems related to vision, according to the National Eye Institute of America.

All the other key regions like North America and Europe are driving the market growth and opening various opportunities for manufacturers as the majority of the old aged population in the regions suffer eye-related problems.

The European region, with its large number of police and military personnel as well as a large population, is also expected to present the market with lucrative growth opportunities. Middle East and Africa, with their growing population, is also expected to boost the market.

Japan is also likely to grow as a lens market in the near future as the country is a prominent manufacturer of consumer electronics. South East Asia and the Pacific region is expected to register significant growth owing to their large population.

Segmentation

• By Type :

  • Aspheric Lens
  • Spherical Lens
  • LED Lens
  • Sensor Lens
  • Diffractive Lens
  • Collimating Lens
  • Cylindrical Lens and Others

• By Application :

  • Safety Equipment
  • Sensing
  • Imaging
  • Projection Display
  • Flight Simulators
  • Detecting
  • Telecom Optics
  • Scanning
  • Barcode Scanner Optics

• By End Users :

  • Medical Equipment
  • Scientific Equipment
  • Military Equipment
  • Consumer Electronics

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA