With 8.7% CAGR, Optical Coatings Market size to hit USD 22.53 Bn in 2028, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Jul 01, 2022, 06:30 ET

LONDON, July 1, 2022 /PRNewswire/ -- Global Optical Coatings Market is valued at USD 12.57 Billion in 2021 and is expected to reach USD 22.53 Billion by 2028 with a CAGR of 8.7% over the forecast period. Growing demand from the solar power sector and rising number of technological advancements in the optical coating fabrication process are the major factors driving the growth of the Global Optical Coating Market.

Optical Coatings Market Size, Share, And Trends Analysis Report By Type (Antireflection Coatings, High Reflection Coatings, Beamsplitter Coatings, Transparent Conductive Coatings, Electrochromic Coatings, Filter Coatings, Partial Reflection Coating), By Technology (Vacuum Deposition Technology, E Beam Evaporation Technology, Sputtering Technology, Ion Assit Deposition Technology), By End Use Industry (Electronics And Semiconductor, Military And Defense, Automotive, Construction, Solar, Medical), Based On Region, And Segment Forecasts, 2022 – 2028 Report Published By Brandessence Market Research.

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Optical Coatings Market: Market Scope

The global optical coating market is one which is expected to see a good amount of growth in the coming years. The market growth is compounding annually at a brisk rate. The reason behind this is the technology that has advanced in the field of the optical deposition techniques as well as fabrication in addition to the rise in demand of the efficient optical devices particularly in the end use applications and that will drive the market in the coming years. The optical coatings are being used increasingly in different applications which include the architecture, solar panels, consumer electronics, automotive, medical, and military and telecommunication.

Optical Coatings Market: Competitive Analysis

Some of the global optical coating key players are Alluxa, Inc, Optical Coatings Japan, Inrad Optics, Cascade Optical Corporation, PPG Industries Inc., Chroma Technology Corp, Berliner Glas, Viavi Solutions, Schott AG, Schott AG and Abrisa Technologies. These optical coating companies 2021 have continuously been working on creating an ecosystem where they can make renewable energy products. There is constant innovation taking place in the market with regard to the optical coatings and there is an attempt to make them widely available wherever the manufacturing sector is prospering.

Dupont De Nemours Company
PPG Industries
Zeiss Group
Nippon Sheet Glass Co., Ltd.
Abrisa Technologies
Newport Corporation
Inrad Optical, Inc.
Reynad Corporation
Artemis Optical Ltd.
II-VI Optical Systems

Optical Coatings Market: Segmentation Analysis

The segmentation of the optical coating market 2022 shows that the market in terms of revenue has been led by the anti-reflective product segment. The anti-reflective coatings refer to the thin film optical coatings which have different layers of coatings with refractive indexes that are between each of the layers. The thickness of each layer has been designed to cause the self-extinguishing interference for the light beams that are reflected by surfaces. This creates it in a manner that it is suitable for the use in magnifying lenses, display screens, eyeglasses and camera lenses where they can be used on the plastic and glass substrates.

The application of the consumer electronics is leading the segmentation in the market in terms of revenue share. The rapid growth in demand for the smart phones and the rise in disposable incomes of the consumers are factors which will propel the segment growth in the coming years. Moreover, the technological advancements in the smart televisions field including the smartphones and smartwatches, have been anticipated to affect the market positively in the coming years. Additionally, increase in demand for the multipurpose devices as well as the growth in number of major players in this segment will propel the demand.

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Global Optical Coatings Market Segmentation:

By Type

Antireflection Coatings
High Reflection Coatings
Beamsplitter Coatings
Transparent Conductive Coatings
Electrochromic Coatings
Filter Coatings
Partial Reflection Coating

By Technology

Vacuum Deposition Technology
E Beam Evaporation Technology
Sputtering Technology
Ion assit deposition Technology
Others

By End Use Industry

Electronics and Semiconductor
Military and Defense
Automotive
Construction
Solar
Medical
Other

Optical Coatings Market: Key Drivers

There is a rapid optical coating market growth in the solar PV domain which has been driven by the increase in the focus on clean energy. There is also a rise in the demand for the consumer electronics which is going to fuel the growth of the market in the coming years. The reflective coatings which are used in the green buildings for the retention and reduction of the energy consumption is going to drive the demand in the coming years. Further, the increased use of the handheld consoles in addition to the rise in demand for the portable electronics of the consumers is going to propel the market.

Raw material prices being volatile are among the biggest factors which affect the growth of the market in the world. This leads to a decrease in the profitability for the manufacturers and increases the costs of the optical coatings and thereby restrains the growth of this market. The prices of metal though have decreased steadily in the last decade or so, the sudden variations create a major hampering factor for this market.

However, optical coating market statistics show that there is a growth in the demand for the anti-reflective coatings for constructing the solar panels, automotive displays, GPS navigations and windows and that is going to majorly propel the market growth in the coming years. The conductive coating products are also in use and that is going to drive the market growth as there is large scale usage witnessed particularly in the solar panels.

The rise on the emphasis which is paid on the development of alternate energy sources along with the huge investments made in the solar generation sector in many different emerging and developed countries is going to propel the growth of this market in the future. Further, there is a requirement in the LCD fabrication, display windows and shields and different components where this is going to propel the growth of this market in the coming years.

Optical Coatings Market: Key Trends

The global optical coating market trends suggest that the changing prices of the precious metals which are used for the higher end applications particularly the gold and platinum markets are going to affect the cost of the applications significantly and therefore impact the demand for optical coatings. Moreover, the recent outbreaks of the coronavirus pandemic has been hampering the demand for the optical coatings in different applications that include the telecommunication, solar and automotive applications in addition to the architecture, defense and aerospace sectors and others because of the stalled activities in manufacturing. There are restrictions in transportations, supplies and economic slowdowns all over the world which are creating a major problem for this market.

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Optical Coatings Market: Regional Analysis

The optical coating market size in terms of region is dominated by the North American region. The growth in the solar industry in the United States along with the focus on the development of the domestic industries has been driving the demand in the region. An increase in the defense budget in the United States has created a major demand for the market. It is also a major manufacturing hub for the mid-scale and the small-scale medical equipment companies and that will be propelling the demand for the optical coatings in the coming years. Further, there is a strong presence of industries such as the instrumentation, biotechnology, microelectronics and the development of software and advancements in the sector of medical devices.

On Special Requirement Optical Coatings Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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