New York, April 04, 2023 (GLOBE NEWSWIRE) -- The optical coatings market size is expected to grow at significant growth rate during the forecast period of 2022-2030. The Reportsinsights Consulting analyses that the optical coatings market is expected to reach USD 29.04 billion in 2030, which was USD 15.27 billion in 2022, and registering a healthy CAGR of 8.3%. This estimation is based on a comprehensive analysis of the market's historical and current trends, industry dynamics, and macroeconomic factors that are expected to impact the market's growth during the forecast period.
Optical Coatings Market Size, Share & Trends Analysis, By Type (Anti-Reflection (AR) Coatings, High Reflective (Mirror) Coatings, Filter Coatings, Beam splitter Coatings, Dielectric Coatings, Conductive Coatings, and Others), Technology (Vacuum Deposition Technology, E Beam Evaporation Technology, Sputtering Technology, Ion-assist deposition Technology, and Others), End-Use Industry (Aerospace and Defense, Industrial, Medical, Solar, Electronics and Semiconductors, Automotive, Construction and Architecture, and Others) Region and Segment, Forecast Period 2023 – 2030
ReportsInsights Consulting Pvt. Ltd. provided an inclusive research report on the optical coatings market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as type, technology, end-use industry, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
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Optical coatings are used to improve the transmission, reflection, or polarization properties of an optical component. The execution of an optical coating varies on its thickness, the number of layers, and the refractive index difference between them. The significant use of reflective coatings in green buildings that lead to less energy consumption and heat retention is one of the major driving factors of the market during the forecast period. The emergence of high-performance green building movement and the use of reflective coatings aid in the efficient design, construction, and operation of the buildings.
The adoption of optical coatings is driven by the need for increased safety, reduced cost, reduced weight, and enhanced functionality has improved fuel efficiency. For instance, optical coatings have a vital role in automotive head-up displays (HUDs) that are integrated into the vehicle’s dashboard which requires better heat dissipation from projection light sources.
Optical Coatings Market Growth Drivers:
- The booming electronics and semiconductors industry is fostering the adoption of optical coatings, which, in turn, is accelerating market growth at the global level.
- The increasing adoption of automotive vehicles at the global level is spurring the global optical coatings market growth.
Restraints
- The fluctuations in the raw materials prices are retraining the growth of the optical coatings market growth.
Competitive Landscape
As per the research, DuPont de Nemours, Inc., Gaggione, Nippon Sheet Glass Co., Ltd., and Abrisa Technologies are major market players that comprise the latest market circumstances. Such companies are continuously leveraging new technologies such as vacuum deposition technology and E beam evaporation technology to develop more efficient and innovative solutions, lightweight, and cost-effective optical coatings. The development of a new range of optical coatings for application across various is increasing the competition in the market.
Recent Developments:
In January 2022, Alluxa Inc. launched the next-generation Sirrus plasma physical vapor deposition (PVD) platform that leads to significant capability in extending the spectral optical coating performance. The proprietary process allows optical filters with the highest transmission, steepest edges, and deepest blocking available while maintaining precision wavelength control, high performance, and extremely uniform coatings.
In June 2020, Edmund Optics Inc. launched new ultrafast enhanced silver coatings and it is suitable for low-to-medium power ultrafast lasers and features an average reflectivity > 99% from 600-1000nm. It is highly customizable and can be used for build-to-printing ultrafast components.
In April 2022, Imatest established a new partnership with Edmund Optics Inc. that allows imaging customers to easily get available with image performance evaluating tools.
Optical Coatings Report Coverage:
| Report Attributes | Report Details |
| Market Size By 2030 | USD 29.04 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 8.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | DuPont de Nemours, Inc., Gaggione, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Artemis Optical Ltd., PPG Industries Inc., REYNARD CORP., II-VI Aerospace and Defense, Alluxa, Inc. (Enpro Industries), Edmund Optics Inc. |
| By Type | Anti-Reflection (AR) Coatings, High Reflective (Mirror) Coatings, Filter Coatings, Beam splitter Coatings, Dielectric Coatings, Conductive Coatings, and Others. |
| By Technology | Vacuum Deposition Technology, E Beam Evaporation Technology, Sputtering Technology, Ion-assist deposition Technology, and Others. |
| By End-Use Industry | Aerospace and Defense, Industrial, Medical, Solar, Electronics and Semiconductors, Automotive, Construction and Architecture, and Others. |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America [United States, Canada, Mexico] Asia-Pacific [China, Japan, India, Southeast Asia, Korea, Western Asia] South America [Brazil, Argentina, Columbia, Chile, Peru] Europe [Germany, UK, Turkey, Spain, France, Italy, Russia, Netherlands, Switzerland] Middle East & Africa [GCC, North Africa, South Africa] |
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Key Market Takeaways
- Based on type, the anti-reflection (AR) coatings segment accounted for the highest share contribution to the optical coatings market statistics in 2022.
- By technology, the ion-assist deposition technology segment is anticipated to contribute the largest shares to the market growth in 2022.
- Based on end-use industry, the electronics and semiconductors segment are estimated to contribute substantial shares to the market growth in terms of volume and value.
- North America will create favorable circumstances for market growth in terms of value and volume due to increasing technological advancement.
- The increasing electronics production activities in India, China, Japan, and others is accelerating the optical coatings market growth in the Asia Pacific region.
Global Optical Coatings Market Segmentation Details:
Based on Type, the anti-reflection (AR) coatings segment accounted for the highest market share as it makes it easier to read under sunlight. Furthermore, it is also used for anti-glare applications. The Anti-reflection (AR) coatings are applied to optical surfaces to increase the throughput of a system and reduce hazards caused by reflections that travel backward through the system. Thus, the aforementioned factors contribute to the dominance of the segment. However, the high reflective (mirror) coatings segment is expected to be the fastest-growing segment in the optical coatings market as it offers advanced functionalities such as high reflectance over a broad range, reasonable durability, and can be easily designed to perform well for various applications. Moreover, optical coatings are used in solar cells and lasers to optimize power consumption.
Based on Technology, the ion-assist deposition technology segment accounted for the highest share of the optical coatings market. The use of ion-assist deposition improves adhesion and permits control over the morphology, density, and internal stresses, among others of the thin film which in turn supports the growth of the segment. However, the sputtering technology is expected to be the fastest-growing segment in the optical coatings market as it is used in ultrafast systems that have demanding coating requirements to meet stringent tolerances on the phase change in the coatings over a broad band of wavelengths.
Based on End-Use Industry, the electronics and semiconductors segment accounted for the highest share of the optical coatings market. The use of optical coatings in various electronics and semiconductors enhances the transmission, and reflection properties. Moreover, the rising demand for telecommunication, sensors, and security devices is also contributing to the growth of the segment. However, the aerospace and defense segment is expected to be the fastest-growing segment during the forecast period. This is due to the optical coatings that are used in range-finding target designation, and IR countermeasures in military applications.
Based on Region, North America accounted for the highest market share in the year 2022. This is due to the presence of key companies in the optical coating market. Furthermore, technological advancements and the early adoption of optical coatings in various industries such as aerospace and defense, and automotive industries also contributed to the dominance of the region.
However, Asia Pacific is expected to be the fastest-growing region in the optical coatings market during the forecast period, due to its large and rapidly growing electronics and semiconductor, solar and automotive industries. Furthermore, the region also has a strong manufacturing base and increasing government support for the development of optical coatings. These factors are expected to contribute to the rapid growth of the optical coatings market in the region.
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List of Major Optical Coatings Market Players
- DuPont de Nemours, Inc.
- Gaggione
- Nippon Sheet Glass Co., Ltd.
- Abrisa Technologies
- Newport Corporation
- Inrad Optical, Inc.
- Artemis Optical Ltd.
- PPG Industries Inc.
- REYNARD CORP.
- II-VI Aerospace and Defense
- Alluxa, Inc. (Enpro Industries)
- Edmund Optics Inc.
Global Optical Coatings Market Segmentation:
- By Type
- Anti-Reflection (AR) Coatings
- High Reflective (Mirror) Coatings
- Filter Coatings
- Beam splitter Coatings
- Dielectric coatings
- Conductive Coatings
- Others
- By Technology
- Vacuum Deposition Technology
- E Beam Evaporation Technology
- Sputtering Technology
- Ion-assist deposition Technology
- Others
- By End-Use Industry
- Aerospace and Defense
- Industrial, Medical
- Solar
- Electronics and Semiconductors
- Automotive
- Construction and Architecture
- Others
Key Questions Covered in the Optical Coatings Market Report
What will be the potential market valuation for the optical coatings industry by 2030?
What insights are covered by the factors driving the growth of the optical coatings market, as well as the opportunities and challenges that may impact the market’s future development?
What specific segmentation details are covered in the optical coatings market report, and how do they contribute to the overall market analysis?
What are some of the most important applications of optical coatings, and how do they impact the industry's growth potential?
Based on current market trends and future predictions, which geographical region will have the largest impact on the optical coatings market's growth in the coming years?
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