Technological advancements in the manufacturing sector with extensive ongoing research to improve the existing manufacturing options have laid the foundation for innovative functional lenses. There has been a drastic change in the lens industry, which has resulted in several innovations, such as the double-sided aspherical lens and the thin aspherical lens. The high-precision aspherical lens market foresees an opportunity for growth in the future due to the expected increase of products in automobile and smartphone, among other industries.
Aspherical lenses are essentially used in optical instruments, automotive, telescopes, and binocular manufacturing. They also aid in obtaining a better focus, increased focal length range, and reduced diffractive aberrations. The end-user industry is undergoing a gradual shift from its traditional usage of spherical lenses to aspherical lenses, thereby adding value to a product in terms of usability and accuracy.
In December 2019, Edmund Optics, based in the U.S., launched two product lines: TECHSPEC LS Series Line Scan lenses and Near-Infrared (NIR) Precision Aspheric Lenses. The NIR precision asphere lens is cleaned via a CNC process so as to provide high precision in the NIR lens and avoid abrasion.
The market intelligence report published by BIS Research, titled High Precision Asphere Market, highlights that the market was estimated at 19.50 billion units in 2019 and is projected to reach 28.47 billion units by 2025. The growth is supported by the growing incidence of issues such as astigmatism, distortion, and spherical aberrations, along with increasing usage of cameras across different industries.
The high precision asphere market is expected to show remarkable growth in the next five years. The evolution in lens technology has significantly changed the overall demand scenario. Due to the better optical properties of aspheric lenses, they are being used in various end-use applications. The lens helps in eliminating a lot of disturbances, such as spherical aberration and astigmatism.
Also, since the lens possesses more control of light, the lens requirement reduces incredibly in any object. This implies that a single aspheric lens provides the same or better precision than other standard lenses combined, offered in an object.
In addition, the glass aspherical lens dominated the overall high precision asphere market over the plastic aspherical lens. The glass segment contributed 68.58% in terms of volume in 2019 and is expected to continue being the largest section till 2025. Further, based on application type, the high precision aspherical lens market can be categorized for usage in automotive, camera, mobile phone and tab, optical instrument, and other segments.
The high precision aspherical lens finds commercial applications in high-performance smartphones and tablets. The mobile phone and tab application segment is expected to dominate the market over the forecast period because of the cost-effectiveness of the lens and product quality reliability.
