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Market Overview

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The global high precision asphere market is experiencing significant growth, with a value of $2,400 million in 2021 and an expected reach of $5,214 million by 2031, growing at a CAGR of 8.1% between 2022 and 2031. This growth is primarily driven by the adoption of high precision aspheres in mobile phones and automobiles.

The high precision asphere market has undergone a transformative change due to evolving demands from various industries, leading to advancements in manufacturing techniques and technological utilization. Aspheric lenses, which are non-spherical lenses, have emerged as a breakthrough in optical technology, enhancing the performance of cameras, observatories, and other visual equipment. These lenses effectively correct chromatic and spherical aberrations, among other types of aberrations. They find extensive use in optical devices, automobiles, telescopes, and binoculars, offering improved focus, wider focal length range, and reduced diffractive aberrations. Aspherical lenses have become a preferred choice over conventional spherical lenses, adding value in terms of accuracy and usability.

The implementation of aspheric lens technology in mobile phones and automotive sectors is a key driver for market expansion in the high precision asphere industry. The adoption of body-worn cameras by security services and the use of drones for video monitoring also contribute to the growing demand for high precision aspheres. For example, the UK government’s emphasis on advanced driver assistance systems (ADAS) and autonomous features in automobiles has propelled the market. Additionally, the popularity of video surveillance, particularly CCTV cameras, has increased, driving the demand for aspheric lenses.

Other factors driving the market include the increased demand for distance detectors and transmitters, as well as the rising penetration rate of smartphones and tablets globally. The US holds the largest market share in the high precision asphere industry due to its conducive environment for technological advancements.

The COVID-19 pandemic has significantly impacted the global supply chain of the high precision asphere market. The automotive industry witnessed a decline in demand due to lockdowns and restrictions, leading to decreased demand for high precision aspheres.

The high precision asphere industry is continuously evolving, with ongoing research and development activities focused on enhancing lens performance and reducing weight in complex design processes.

Recent developments in the global high precision asphere market include collaborations between companies like Nikon Corporation and NIKKOR CORPORATION for the production of lens elements. In addition, the release of new products, such as the NIKKOR Z 14-24mm f/2.8 S ultrawide-angle zoom lens, showcases the use of aspherical lenses to achieve sharper images.

The demand drivers for the high precision asphere market include the increasing deployment of these lenses in mobile phones and tablets, as well as their ability to solve the problem of aberration. However, challenges related to the complex fabrication process and measurement and coating of aspherical lenses may limit market growth.

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Market Segmentation

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The market is segmented based on various factors, including end-use application, product type, and region.

Segmentation by End-Use Application
Optical Instruments
Automotive
Cameras
Mobile Phones and Tablets
Others

Segmentation by Product Type
Glass Aspherical Lens
Plastic Aspherical Lens

Segmentation by Region
North America – U.S., Canada, and Mexico
Europe – Germany, France, Spain, and Rest-of-Europe
China
U.K.
Asia-Pacific and Japan – Taiwan, Japan, South Korea, and Rest-of-Asia-Pacific and Japan
Rest-of-the-World

The dominance of mobile phones and tablets in the end-use application segment is expected to drive the global high precision asphere market. This can be attributed to their innovative design, technological advancements, and extensive research aimed at providing superior visual experiences. During the forecast period of 2022-2031, the mobile phones and tablets segment is projected to be the largest end-use application segment for high precision aspherical lenses. These lenses are crucial for delivering high-performance optical capabilities in mobile phones and tablets, and their demand is further fueled by other markets such as cameras and autonomous vehicles. Additionally, ongoing research activities aimed at developing cost-effective and high-quality aspherical lenses contribute to the growth of this end-use application.

Glass aspherical lenses dominate the global high precision asphere market. These lenses offer a wider range of refractive index, making them versatile for various applications. They also provide better focus and a larger focal length range compared to plastic aspherical lenses. Glass aspherical lenses emerged as the leading type in the market in 2021 and are expected to continue their dominance during the forecast period of 2022-2031. Their superior performance, ability to withstand high temperatures and pressure, and wide utilization in telescopes, laboratories, and precision optical instruments contribute to their market leadership.

China is anticipated to be the largest market for high precision aspheres, driven by its high consumption and production of these lens products. The Chinese market is known for its cost sensitivity, demanding efficient yet affordable products. China held the highest market share in the high precision asphere market in 2020 and is expected to maintain its dominance in the future. This is attributed to the widespread adoption of aspherical lens technologies in industries such as smartphones, tablets, and camera lenses. China’s strong focus on research and development, well-established supply chain, rapid expansion in emerging markets, and significant revenue generation in the aspherical lens industry further contribute to its leadership position. The country’s capacity for large-scale production, substantial investment in R&D, increasing expenditure on autonomous vehicles, and support from private organizations in adopting high precision aspherical lens technologies across various industries are key factors driving its rapid development in this field.

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Competitive Landscape

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The selection of the profiled companies was based on inputs gathered from primary experts, as well as an analysis of company coverage, product portfolio, and market penetration.

Key companies profiled in this report include Nikon Corporation, Canon Inc., Edmund Optics, Panasonic Corporation, Hoya Corporation, AGC Inc., SCHOTT AG, Carl Zeiss AG, Largan Precision Co., Ltd., Asia Optical Co., Inc., Asphericon GmbH, OptoSigma Corporation, Optimax Systems, Inc., LaCroix Precision Optics, LightPath Technologies, Accusy Photontech Ltd., Asphera, Tengjing Technologies Co., Ltd.

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Recent Industry Developments

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In July 2019, Nikon Corporation formed a collaboration with NIKKOR CORPORATION to jointly produce ED lens elements.

In September 2020, Nikon Corporation introduced the NIKKOR Z 14-24mm f/2.8 S, a high-speed and ultra-wide-angle zoom lens designed for the Nikon Z mount system. The utilization of aspherical lenses in this lens enables the creation of sharper and more precise images.

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Key Questions Answered

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What are the significant factors and trends influencing the high precision asphere market?

What are the driving factors projected to fuel the high precision asphere market?

Among plastic and glass, which type of aspheric lens is preferred in various end-use industries?

How has the global high precision asphere market been affected by COVID-19, and how are market players adapting to mitigate the impact?

What are the restraining factors that are impacting the growth of the high precision asphere market?