Lens Monomer Market

Global Lens Monomer Market By Product Type (Clear Lenses, Photochromic Lenses, and Others), End-user (General Glasses Stores, Ophthalmology Hospitals, and Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)

  • Report ID: MC-133
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 18
  • No. Of Pages: 181
  • Format:
  • Pub. Date: 2020-12-04
  • Share:

Market Outlook:

The global Lens Monomer market was valued at USD 1,322.5 Million in 2019 and is projected to reach USD 1,746.2 Million by 2027, expanding at a CAGR of 4.2% during the forecast period. Lens monomer are raw materials used for manufacturing lenses, spectacle lenses, and sunglasses. Group of monomers are known as polymers. These polymers are of various types, with different properties and are used in ophthalmic applications. Different types of monomers such as hydrophilic, neutral hydrophobic, high/low refractive index, ionic, and UV absorbing active monomers are used in lenses. These monomers have different properties, functionalities, refractive indices (RI), and features.

Global Lens Monomer Market Key Takeaways

Manufacturers use these optical monomers for preparing safe and comfortable lenses with high clarity for clear vision. These lenses enable the use of adding external layers of coating to these lenses such as anti-glare coatings, fog resistance, UV rays protection, and anti-blue coatings. These coatings reduce the transmission of rays or light to a minimal level, thus preventing any harm to the wearer’s eyes. These lenses are easily available in optical stores, eye wear stores, malls, and ophthalmology hospitals.

Market Dynamics
The market is driven by factors such as high prevalence of vision problems, rising prevalence of myopia (nearsightedness), increasing risk of computer vision syndrome (CVS), rising consciousness about fashion and availability of a wide range of photochromic lens-based spectacles or sunglasses, growing geriatric population, and robust R&D activities by manufacturers to expand their product portfolio offering. Conversely, use of incorrect lenses without medical consultation are affecting the eye sight of people and high cost of glasses, lenses, and sunglasses used as fashionable accessory are key factors restraining growth of the market. Entering untapped markets in emerging economies and major players are adopting strategies to strengthen their position and expand product portfolio are boosting the market.

High Prevalence of vision problems
Excessive use of computers, mobile phones, television, and other digital devices increase the prevalence of vision problems such as vision impairment, blindness, and refractive error. Common type of visual impairment includes blurred vision, loss of central vision, loss of peripheral vision, night blindness, extreme light sensitivity, and generalized haze. Increasing prevalence of blurred vision and vision impairment among people boost the demand for lens monomers, which are used for making clear lenses. Monomers used for making clear lenses, help in enhancing the vision suffering from impairment issue. For instance, according to world health organization (WHO) October 2019, globally, around 2.2 billion people have vision impairment or blindness, out of these nearly 1 billion have vision impairment that could have been prevented. Moreover, the people suffering from impairment include moderate or severe blindness or distance vision impairment caused by unaddressed refractive error, and near vision impairment caused by unaddressed presbyopia. Myopia is a disorder associated with vision problem.

Rising Prevalence of Myopia (Nearsightedness)
Myopia is considered as vision disorder which can be corrected with contact lenses and spectacles. Rising geriatric population and increasing incidence of myopia leads to the rise in usage of ophthalmic products. For instance, according to the Global Epidemiology of Myopia in 2019 the reported prevalence of myopia was expected to increase to around 4758 million (49.8% of the global population) by 2050, from approximately 1950 million cases, (28.3% of the global population) in 2019. Increasing number of myopia cases in children has increased the usage of lenses and glasses due to the rise in the usage of electronic gadgets such as laptops and smart phones. Growing ophthalmic diseases such as myopia have increased the spending on ophthalmic products. For instance, in 2018, according to the Journal of Ophthalmology, the annual expenditure on correcting distance vision impairments was between USD 3.9 billion and USD 7.2 billion in the US.

Segmental Outlook

On the basis of product types, the global Lens Monomer market is segmented into clear lenses, photochromic lenses, and others segment. The clear lenses segment is anticipated to expand at a CAGR of 4.5% during the forecast period. A lens is a transmissive optical device focus on dispersion of a light beam by the means of refraction. Glasses or lens are used for correcting the vision when the eye sight is weakens and the individual faces issues seeing or reading, due to blurred vision or vision impairment. Different types of lenses are available in the market, which cater to the different ailments to improve the vision impairment. Lenses are used for different purposes and uses. Clear lenses are majorly used in glasses, while the photochromic lenses are widely used in sun glasses. The photochromic lenses segment is estimated to hold over one third share of the market in 2020 owing to its increasing demand for sunglasses.

Global Lens Monomer Market By Product Type

Based on end-users, the market is segmented into general glass stores, ophthalmology hospitals, and others. The general glass stores segment is projected to hold a significant share of the market during the forecast period owing to the increasing incorporation of the lens monomer in a majority of optometry clinics globally. General glass stores include local or specialty stores located in urban areas and rural areas, providing lenses and eye wear products. Ophthalmology hospitals include general eye care hospitals, eye care clinics, and specialty clinics and hospitals. These hospitals and clinics provide several eye care services and facilities and offer different prescription and non-prescription eyewear products.

Global Lens Monomer Market By End-User

Regional Outlook

In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted over 51.2% share of the market in 2020. The market in the region is projected to expand at a CAGR of 4.9% during the forecast period due to increasing awareness of eye disorders, growing per capita spending, and market saturation in developed economies are encouraging the market players to expand their presence in emerging economies. The market in North America is projected to expand at a CAGR of 3.6% due growing prevalence of myopia in the region.

Global Lens Monomer Market By Region

Competitive Landscape

  • Key players in the market include Mitsubishi Gas Chemical, MITSUI CHEMICALS AMERICA, INC., and PPG Industry Inc. These companies are considered manufacturers of Lens Monomer based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
  • These players are adopting strategies such as acquisition and geographical expansion where the potential opportunity for the lens monomer can add to the company’s revenue. For instance, on In March 4, 2020, MITSUBISHI GAS CHEMICAL COMPANY, INC. and Taoka Chemical Co., Ltd. entered into a joint venture. Taoka Chemical Co., Ltd. sells raw material such as monomers for the optical resin polymer, Upizeta EP. This joint venture helped MITSUBISHI GAS CHEMICAL COMPANY INC. increase its products portfolio in lens monomer segment.
  •  In 2020, PPG Completes acquisition of Alpha Coating Technologies. This action of the company helps them to increase product portfolio in powder coatings for heat sensitive substrates and light industrial applications.

Global Lens Monomer Market By Key Players

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Lens Monomer Market
  • Historical, Current and Projected Market Size in terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Lens Monomer Market Performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lens Monomer Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Lens Monomer Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity

      4.2.4 Market Trends
   4.3 Lens Monomer Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Lens Monomer Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Lens Monomer Market Size & Forecast, 2017-2027
      4.5.1 Lens Monomer Market Size and Y-o-Y Growth
      4.5.2 Lens Monomer Market Absolute $ Opportunity
Chapter 5 Global Lens Monomer Market Analysis and Forecast By Types
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Types
      5.1.2 Basis Point Share (BPS) Analysis By Types
      5.1.3 Absolute $ Opportunity Assessment By Types
   5.2 Lens Monomer Market Size Forecast By Types
      5.2.1 Clear Lenses
      5.2.2 Photochromic Lenses
      5.2.3 Others
   5.3 Market Attractiveness Analysis By Types
Chapter 6 Global Lens Monomer Market Analysis and Forecast By End-users
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By End-users
      6.1.2 Basis Point Share (BPS) Analysis By End-users
      6.1.3 Absolute $ Opportunity Assessment By End-users
   6.2 Lens Monomer Market Size Forecast By End-users
      6.2.1 Glasses Stores
      6.2.2 Ophthalmology Hospitals
      6.2.3 Others
   6.3 Market Attractiveness Analysis By End-users
Chapter 7 Global Lens Monomer Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Lens Monomer Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Lens Monomer Analysis and Forecast
   9.1 Introduction
   9.2 North America Lens Monomer Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Lens Monomer Market Size Forecast By Types
      9.6.1 Clear Lenses
      9.6.2 Photochromic Lenses
      9.6.3 Others
   9.7 Basis Point Share (BPS) Analysis By Types
   9.8 Absolute $ Opportunity Assessment By Types
   9.9 Market Attractiveness Analysis By Types
   9.10 North America Lens Monomer Market Size Forecast By End-users
      9.10.1 Glasses Stores
      9.10.2 Ophthalmology Hospitals
      9.10.3 Others
   9.11 Basis Point Share (BPS) Analysis By End-users
   9.12 Absolute $ Opportunity Assessment By End-users
   9.13 Market Attractiveness Analysis By End-users
Chapter 10 Europe Lens Monomer Analysis and Forecast
   10.1 Introduction
   10.2 Europe Lens Monomer Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Lens Monomer Market Size Forecast By Types
      10.6.1 Clear Lenses
      10.6.2 Photochromic Lenses
      10.6.3 Others
   10.7 Basis Point Share (BPS) Analysis By Types
   10.8 Absolute $ Opportunity Assessment By Types
   10.9 Market Attractiveness Analysis By Types
   10.10 Europe Lens Monomer Market Size Forecast By End-users
      10.10.1 Glasses Stores
      10.10.2 Ophthalmology Hospitals
      10.10.3 Others
   10.11 Basis Point Share (BPS) Analysis By End-users
   10.12 Absolute $ Opportunity Assessment By End-users
   10.13 Market Attractiveness Analysis By End-users
Chapter 11 Asia Pacific Lens Monomer Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Lens Monomer Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Lens Monomer Market Size Forecast By Types
      11.6.1 Clear Lenses
      11.6.2 Photochromic Lenses
      11.6.3 Others
   11.7 Basis Point Share (BPS) Analysis By Types
   11.8 Absolute $ Opportunity Assessment By Types
   11.9 Market Attractiveness Analysis By Types
   11.10 Asia Pacific Lens Monomer Market Size Forecast By End-users
      11.10.1 Glasses Stores
      11.10.2 Ophthalmology Hospitals
      11.10.3 Others
   11.11 Basis Point Share (BPS) Analysis By End-users
   11.12 Absolute $ Opportunity Assessment By End-users
   11.13 Market Attractiveness Analysis By End-users
Chapter 12 Latin America Lens Monomer Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Lens Monomer Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Lens Monomer Market Size Forecast By Types
      12.6.1 Clear Lenses
      12.6.2 Photochromic Lenses
      12.6.3 Others
   12.7 Basis Point Share (BPS) Analysis By Types
   12.8 Absolute $ Opportunity Assessment By Types
   12.9 Market Attractiveness Analysis By Types
   12.10 Latin America Lens Monomer Market Size Forecast By End-users
      12.10.1 Glasses Stores
      12.10.2 Ophthalmology Hospitals
      12.10.3 Others
   12.11 Basis Point Share (BPS) Analysis By End-users
   12.12 Absolute $ Opportunity Assessment By End-users
   12.13 Market Attractiveness Analysis By End-users
Chapter 13 Middle East & Africa (MEA) Lens Monomer Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Lens Monomer Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Lens Monomer Market Size Forecast By Types
      13.6.1 Clear Lenses
      13.6.2 Photochromic Lenses
      13.6.3 Others
   13.7 Basis Point Share (BPS) Analysis By Types
   13.8 Absolute $ Opportunity Assessment By Types
   13.9 Market Attractiveness Analysis By Types
   13.10 Middle East & Africa (MEA) Lens Monomer Market Size Forecast By End-users
      13.10.1 Glasses Stores
      13.10.2 Ophthalmology Hospitals
      13.10.3 Others
   13.11 Basis Point Share (BPS) Analysis By End-users
   13.12 Absolute $ Opportunity Assessment By End-users
   13.13 Market Attractiveness Analysis By End-users
Chapter 14 Competition Landscape
   14.1 Lens Monomer Market: Competitive Dashboard
   14.2 Global Lens Monomer Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 MITSUBISHI GAS CHEMICAL COMPANY, INC. 
      14.3.2 Mitsui Chemicals, Inc.
      14.3.3 Miwon Commercial Co., Ltd
      14.3.4 PPG Industries Inc.
      14.3.5 Polysciences, Inc.
      14.3.6 SKC
      14.3.7 Shimizu Optical (Shanghai) Co., Ltd.
Key Segments Covered
By Product Types
  • Clear Lenses
  • Photochromic Lenses
  • Others
By End-users
  • General Glasses Stores
  • Ophthalmology Hospitals
  • Others
By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of the Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of MEA

Key Market Players Profiled in the Report
  • Mitsubishi Gas Chemical
  • MITSUI CHEMICALS AMERICA, INC.
  • Miwon Commercial Co., Ltd.
  • PPG Industry Inc.
  • Polysciences, Inc.
  • SKC
  • Shimizu Optical (Shanghai) Co., Ltd.

Buy Report

FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the report covers product specific information such as product types, definition, trends, etc.

According to this Growth Market Reports report, the market from Lens Monomer is likely to register a CAGR of 4.2% during forecast period 2020-2027, with an anticipated valuation of USD 1746.2 million by the end of the 2027.

In addition to market size (in USD Million), Volume (Tons) and Company Market Share (in % for base year 2019), Impact of Covid-19 is available in the final report.

The high prevalence of vision problems, rising prevalence of myopia (nearsightedness), increasing risk of computer vision syndrome (CVS), rising consciousness about fashion and availability of a wide range of photochromic lens-based spectacles or sunglasses are expected to drive the market growth during forecast period.

General glasses stores and ophthalmology hospitals are the key end-user that are driving the Lens Monomer market.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The market is expected to decline over 3.5% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the lens monomer market.

The base year considered for the global Lens Monomer market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.

Major Manufactures include, MITSUI CHEMICALS AMERICA, INC., Miwon Commercial Co., Ltd., and PPG Industry Inc.