Aspheric Lenses Market Size, Share, Growth, Forecast 2030

Aspheric Lenses Market

Aspheric Lenses Market By Type (Glass, Plastic, and Others), By Offering (Single Aspheric Lens and Double Aspheric Lens), By Manufacturing Technology (Molding, Polishing & Grinding, and Others), By Application (Consumer Electronics, Digital Cameras, Automotive, Ophthalmic, Fiber Optics & Photonics, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Packaging Report Format : PDF Pages: 207 Report Code: ZMR-7328 Published Date: Jul-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 8.5 Billion USD 14 Billion 6.5% 2022

Aspheric Lenses Industry Prospective:

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.

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The report analyzes the global aspheric lenses market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the aspheric lenses industry.               

Aspheric Lenses Market: Overview

Aspheric lenses are a type of optical lens that deviate from the conventional spherical shape. In contrast to spherical lenses, which have a constant curvature across their entire surface, aspheric lenses have a varying curvature. This curvature changes gradually from the center to the periphery of the lens, resulting in a more complex surface profile. The primary purpose of using aspheric lenses is to minimize various optical aberrations that occur with spherical lenses. Aberrations, such as spherical aberration, coma, astigmatism, and distortion, can cause image degradation and affect the overall quality of an optical system. Aspheric lenses are designed to reduce or eliminate these aberrations, resulting in improved image quality, better resolution, and reduced optical artifacts. The unique surface profile of aspheric lenses allows for a more efficient focusing and bending of light rays. By utilizing different degrees of curvature across the lens surface, aspheric lenses can bring light rays to a single focal point, correcting for aberrations and producing sharper, clearer images. This design also enables the reduction of lens size and weight, making them particularly useful in compact optical systems. Aspheric lenses find applications in various fields, including photography, telescopes, microscopes, cameras, and eyeglasses. They are commonly used in high-quality camera lenses to improve image sharpness and reduce optical distortions. In eyeglasses, aspheric lenses can provide better peripheral vision and minimize visual distortions near the edges of the lens.

Key Insights

  • As per the analysis shared by our research analyst, the global aspheric lenses market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2023-2030).
  • In terms of revenue, the global aspheric lenses market size was valued at around USD 8.5 billion in 2022 and is projected to reach USD 14 billion, by 2030.
  • The growing demand for aspheric lenses from the various end-use industries including consumer electronics, automotive, aerospace, and others is expected to drive the aspheric lenses market growth during the forecast period.
  • Based on the type, the glass segment is expected to capture the highest market share during the forecast period.
  • Based on the offering, the single aspheric lens is expected to grow at the fastest rate over the forecast period.
  • Based on the manufacturing technology, the molding manufacturing technology segment is expected to propel the market growth during the forecast period.
  • Based on the application, the consumer electronics segment is expected to grow at a considerable market share during the forecast period.
  • Based on region, the Asia Pacific is expected to hold a significant revenue share during the forecast period.

Aspheric Lenses Market: Growth Drivers

Increasing usage in ophthalmic and optical devices drives the market growth

In comparison to conventional spherical lenses, aspherical lenses in eyeglasses can offer a broader field of view, less distortion, and a flattering look. An aspherical form may reduce aberrations and improve clarity when used with contact lenses, especially in low light. Aspherical surfaces can be added to intraocular lenses (IOLs) to enhance patients' visual outcomes following cataract surgery by boosting contrast sensitivity and lowering reflection. The need for advanced vision-correction devices and technical advancements in lens manufacturing processes, together with the growing prevalence of eye disorders including presbyopia, myopia, and cataracts, are all contributing to the growth of the aspherical lens market. For instance, according to the data given by CDC, in the United States, 12 million persons aged 40 and older have a visual impairment, of which 1 million are blind, 3 million have it after having their vision corrected, and 8 million have it because of uncorrected refractive error. Therefore, the aforementioned facts support the market growth over the forecast period.

Aspheric Lenses Market: Restraints

Competition from spherical lenses might be hampering the market growth

Spherical lenses, despite their optical limitations, continue to be widely used due to their lower cost and simpler manufacturing processes. In some applications where the optical requirements are less stringent, spherical lenses may provide a cost-effective solution. The competition from spherical lenses can pose a restraint on the growth of the aspheric lenses market, especially in price-sensitive markets.

Aspheric Lenses Market: Opportunities

Growing demand for high-resolution imaging offers a significant opportunity

Aspheric lenses play a crucial role in high-resolution imaging systems, including digital cameras, professional photography equipment, and surveillance systems. The increasing demand for high-resolution imaging in various sectors, such as security, entertainment, and industrial inspection, is boosting the aspheric lenses industry. For instance, in January 2023, an ultra-wide-angle zoom lens based on the L-Mount system, the LUMIX S 14-28mm F4-5.6 MACRO, was introduced by Panasonic. LUMIX S 14-28mm F4-5.6 MACRO (S-R1428), LUMIX S 20-60mm F3.5-5.6 (S-R2060), and LUMIX S 70-300mm F4.5-5.6 MACRO O.I.S. (S-R70300) are the three lenses available in the new range. The 14 lens elements in the LUMIX S 14-28mm F4-5.6 MACRO are organized into 10 groups. The 0.25-0.5x macro capabilities of the LUMIX S 14-28mm F4-5.6 MACRO lens is available. Thus, this is expected to offer a lucrative opportunity for market development.

Aspheric Lenses Market: Challenges

The high cost of manufacturing poses a major challenge to the market expansion

The need for modern manufacturing processes, equipment, and manpower may increase the cost of production. Such lenses must also be built of cutting-edge materials, including premium glass or certain polymers, to provide the requisite precision and performance. The cost of these components might drive up the price of the lens. As a result, some applications may not be able to use aspherical lenses due to their high cost, particularly in sectors that are sensitive to pricing, such as consumer electronics, where it is an important factor. Therefore, the high cost of manufacturing these lenses might prevent the aspheric lenses market from growing in the near future.

Aspheric Lenses Market: Segmentation

The global aspheric lenses industry is segmented based on type, offering, manufacturing technology, application, and region.

Based on the type, the global market is bifurcated into glass, plastic, and others. The glass segment is expected to hold the highest market share during the forecast period. Glass aspherical lenses provide benefits such as increased toughness and resistance to dents and other kinds of harm. They are thus a dependable and durable choice for a range of applications. The development of this market may be ascribed to the rise in popularity of surveillance, automotive, and camera applications. Growth in the market is also being fueled by industry participants' increased attention to the study and creation of aspherical lenses made of glass. For instance, in 2022, Nikon Corporation announced the availability of the glass-based NIKKOR Z 17-28mm f/2.8, an ultra-wide-angle zoom lens that is suitable for full-frame/FX-format mirrorless cameras that use the Nikon Z mount. Thereby, driving the segment growth.

Based on the offering, the global aspheric lenses industry is divided into single aspheric lens and double aspheric lens. The single aspheric lens is expected to grow at the fastest rate over the forecast period. The segment growth is attributed to its properties including compact design, wide field of view, customizability, and others. In camera lenses, eyeglasses, and other optical systems where aberrations must be corrected, single aspherical lenses are frequently used. Because a single aspherical lens has fewer lens components and a simpler structure, which makes it easier to produce and less expensive. Rising demand for such lenses and more R&D initiatives are factors that propel the market growth.

Based on manufacturing technology, the global market is divided into molding, polishing & grinding, and others. The molding manufacturing technology segment is expected to propel the market growth during the forecast period. The molding method has the benefit of being able to quickly and effectively produce high-precision aspherical lenses with complex geometries, which is very beneficial for mass manufacturing. Manufacturing lenses for products like cameras, cell phones, and high-end medical devices use precision glass molding. The market is expanding as a result of the rising demand for high-thermal stability aspherical lenses in mass production.

Based on the application, the global aspheric lenses industry is segmented into consumer electronics, digital cameras, automotive, ophthalmic, fiber optics & photonics, and others. The consumer electronics segment is expected to grow at a considerable market share during the forecast period. By using aspherical lenses, smartphone manufacturers may improve the clarity of the photographs and reduce distortion in the photos taken by their cameras. Aspherical lenses may also make the camera module lighter and smaller, which makes it easier to fit into modern smartphones’ compact designs. Due to the growing need for higher picture quality from smartphone cameras, aspherical lenses are in high demand.

Aspheric Lenses Market: Report Scope

Report Attributes Report Details
Report Name Aspheric Lenses Market Research Report
Market Size in 2022 USD 8.5 Billion
Market Forecast in 2030 USD 14 Billion
Growth Rate CAGR of 6.5%
Number of Pages 207
Key Companies Covered 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, shanghai-optics.com, GlobalSpec, SCHOTT, as­pheri­con GmbH, and Hyperion Optics among others.
Segments Covered By Type, By Offering, By Manufacturing Technology, By Application, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Aspheric Lenses Market Regional Analysis

The Asia Pacific is expected to hold the highest revenue share over the forecast period

The Asia Pacific is expected to hold the highest revenue share in the global aspheric lenses market over the forecast period. The region is experiencing rapid industrialization and urbanization, which is fueling the demand for aspheric lenses. The region is home to several manufacturing hubs and production facilities for consumer electronic devices, automotive components, and healthcare equipment. Aspheric lenses are crucial components in these industries, contributing to the growth of the market. Additionally, the Asia Pacific countries, particularly Japan, South Korea, and China are known for their advancements in optics, imaging, and precision engineering. These countries have a strong presence in the aspheric lens market, with companies investing in research and development to develop advanced aspheric lenses for various applications. The region's focus on technological innovation drives the growth of the market.

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North America is expected to capture a significant market share over the forecast period. The regional growth is attributed to the increasing demand from various end-use industries such as automotive, aerospace, and others. The automotive and aerospace sectors in North America have a high demand for aspheric lenses. In automotive applications, aspheric lenses are used in head-up displays (HUDs), advanced driver-assistance systems (ADAS), and rearview mirrors to provide clear, distortion-free images and enhance safety. In the aerospace industry, aspheric lenses are utilized in avionics, surveillance systems, and targeting devices, among others.

Aspheric Lenses Market: Competitive Analysis

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
  • shanghai-optics.com
  • GlobalSpec
  • SCHOTT
  • as­pheri­con GmbH
  • Hyperion Optics
  • Others.

The global aspheric lenses market is segmented as follows:

By Type

  • Glass
  • Plastic
  • Others

By Offering

  • Single Aspheric Lense
  • Double Aspheric Lense

By Manufacturing Technology

  • Molding
  • Polishing & Grinding
  • Others

By Application

  • Consumer Electronics
  • Digital Cameras
  • Automotive
  • Ophthalmic
  • Fiber Optics & Photonics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Aspheric lenses are a type of optical lens that deviate from the conventional spherical shape. In contrast to spherical lenses, which have a constant curvature across their entire surface, aspheric lenses have a varying curvature. This curvature changes gradually from the center to the periphery of the lens, resulting in a more complex surface profile.

The aspheric lenses market is experiencing robust growth driven by factors such as improved optical performance, demand from consumer electronics and healthcare sectors, advancements in lens manufacturing, automotive and aerospace applications, and increasing research and development activities.

According to the report, 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.

The global aspheric lenses market is expected to grow at a CAGR of 6.5% during the forecast period.

The global aspheric lenses market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the growing demand from the automotive industry and the increasing aging population which is more prone to vision impairment.

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, shanghai-optics.com, GlobalSpec, SCHOTT, as¬pheri-con GmbH, and Hyperion Optics among others.

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