Rockville, MD -- (SBWIRE) -- 12/14/2018 -- Market Introduction
Glass lenses have been used for various applications so far. However, they are brittle and are likely to deteriorate easily, which has led to the development and growth of plastic lenses. Plastic lenses have several advantages over glass lenses in terms of good UV resistance, greater durability, as well as safety for use in sports activities or any physical activity that is likely to cause the breakage of the lens. Plastic lenses can be coated with various coatings depending upon end-user requirements. The low weight of plastic lenses compared to glass lenses is among factors that has 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 lenses. In addition, plastic lenses can provide better protection from flying sparks from fireworks, campfires, welding, and grinding work. Hence, plastic lenses are used in eye-safety equipment of military personnel, police and fire fighters as they offer shatter resistance. These lenses can be tinted with a specific range of colours, 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.
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Market Dynamics
The increasing usage of the Internet has rapidly boosted the usage of mobile phones and televisions. As a result, several people are suffering from vision-related problems, which is boosting the plastic lens market. These lenses possess various functional properties, such as no distortion, shatter resistance, and high resistance to breakage, owing to which their popularity as well as demand has increased significantly. The shatter-resistance property of plastic lenses has boosted their demand in the safety equipment sector. The good service life of plastic lenses will also be among key reasons for their high demand in the global market. The usage of plastic lenses in medical equipment, such as magnifiers or for vision correction, is also expected to open up vast market opportunities for their sales. The availability of plastic lenses in attractive colours is also expected to propel their demand.
However, the comparatively good clarity and anti-scratch property offered by glass lenses at a low cost as compared to plastic lenses is likely to restrain the growth of the plastic lens market. In addition, when plastic lenses are subject to high or low temperatures, their shape is likely to change, which is also likely to negatively affect the market. The availability of contact lenses is also expected to slow down the growth of the plastic lens market.
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Regional Outlook
China and India together hold the world's largest population, hence, they are expected to be the prominent markets for the sales of plastic lenses in eye safety equipment, medical equipment as well as military equipment. North America is expected to be another big market for the growth of plastic lenses as nearly one-third of the population aged below 40 years suffers from problems related to the vision, according to National Eye Institute of America. The European region, with its large number of police and military personnel as well as a large population, is also expected to present the plastic lens market with lucrative growth opportunities. Middle East and Africa, with its growing population, is also expected to boost the plastic lens market. The market in Japan is also likely to grow in the near future as the country is a prominent manufacturer of consumer electronics. The South East Asia and Pacific region is expected to register significant growth owing to its large population.
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List of Market Participants
Some of the key participants in the plastic lens market are listed below:
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
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