The global photochromic lenses market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Market revenue growth is primarily driven by increasing use of photochromic lenses in glasses for ophthalmic sunscreening applications, corrective use by aging population, and protective use against blue light radiation by electronic devices.
Photochromic glasses, also known as transition lenses, are optical lenses, which darken automatically on exposure to certain kinds of light, returning back to their clear form in low light conditions. The lens effectively limits amount of sunlight and radiation that reaches eye of the person wearing glasses, which reduces chances of eye problems. In addition, rising demand of photochromic lenses can be attributed to reduced exposure to sun’s ultraviolet rays, which lowers risk of cataracts, corneal damage, macular degeneration or other associated eye problems. This product is preferred to be used owing to the convenience and ease of usage.
Top Companies Operating in the Global Photochromic Lenses Market Report:
- Corning Incorporated (U.S.)
- EssilorLuxottica (France)
- Rodenstock GmbH (Germany)
- Carl Zeiss AG (Germany)
- Hoya Corporation (Japan)
- Transitions Optical Inc. (U.S.)
- SEIKO Optical Europe GmbH (Germany)
- Vision Ease (U.S.)
- Younger Optics Inc. (U.S.)
- Optical Dynamics (U.S.)
- Signet Armorlite Inc. (U.S.)
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Revenue growth in the global consumer goods market is primarily due to factors such as the rapid increase in the world population, the growing demand for food and other essential goods, including healthcare nutrition, personal care hygiene, and electronic products. Consumer preferences and lifestyles are changing significantly, the demand for packaged and processed food and beverage products is rising, and the number of people working is increasing. There has been a rapid adoption of cutting-edge technologies such as artificial intelligence (AI), IoT (Internet of Things), big data analytics, robotics automation in the consumer goods industry. Other key factors driving the growth of the global consumer goods market include a growing awareness of the adverse environmental impacts of plastic packaging and a growing demand for eco-friendly and sustainable packaging solutions. Rising income levels in developing economies such as India and stringent government regulations for product quality and safety are expected to boost market revenue growth in the near future.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Type (Revenue, USD Billion; 2019-2030)
- Glass
- Standard Plastic (1.53 Coat and Un coat)
- Mid-Index Plastic (1.53 to 1.65)
- High-Index Plastic (Above 1.65)
- Polycarbonate
End use Outlook (Revenue, USD Billion; 2019-2030)
- Children
- Outdoor Activities
- People with Light Sensitivity
- Other
Key Takeaways of the Global Photochromic Lenses Market Report:
- A comprehensive overview of the global Photochromic Lenses industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Photochromic Lenses market.
- Elaborate study of the leading regional markets in the global Photochromic Lenses market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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