WASHINGTON, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The Global Optical Coatings Market is valued at USD 12.1 Billion in 2021 and is projected to reach a value of USD 20.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 8.8% over the forecast period 2022-2028.
One of the most significant economic areas is the Optical Coatings business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Optical Coatings, including rising investment requirements, developing technology, and new laws.
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Optical Coatings Market Overview
According to Vantage Market Research, some crucial aspects will likely propel the optical coatings market expansion throughout the forecast period. Recent technological developments in optical deposition processes and fabrication and the increased need for effective optical devices in end-use applications are two significant factors favorably affecting the market for optical coatings.
Consumer electronics, solar panels, architectural, automotive, military and defense, medical, and telecommunication are just a few industries that rapidly use optical coatings. Furthermore, over the projection period, its demand is anticipated to be driven by the expanding usage of reflective coatings in green buildings for heat retention and lowering energy consumption.
North America dominates the market, and this trend of dominance is expected to continue throughout the projection period. The demand for environmentally friendly coatings in semiconductor and sensor applications will significantly boost the growth of the North American optical coatings market. Furthermore, the industrial picture will be improved by the increasing use of laser systems and aircraft applications. Also, the demand for beam attenuators, vision cameras, and range finding will increase due to increased investments from the military and defense industries.
Optical Coatings Market Dynamics
Growing Use of Optical Coatings in the Automotive Sector to Drive the Market
The value and adaptability of the vehicle have long been increased by applying the optical coating in automotive glazing. Veiling glare, which impairs a driver's vision, is the result of the interior of the windscreen reflecting the observer. A further factor aggravating the glare veiling issue is the recent surge in the popularity of high-installation-angle windscreen constructions. The glare is removed, and reflectivity is decreased by adding optical anti-reflection (AR) coatings to the windscreen. In addition to having less reflection, the AR windscreens' mirrored hue is more neutral than typical AR designs, making the final product more aesthetically pleasing.
Increasing Demand for Anti-reflective Coatings to Support Market Growth
Components, including lenses, screens, mirrors, and anti-reflective coatings, which are utilized in numerous global consumer and industrial applications, can be coated with high-quality anti-reflective optical coatings with low anti-reflection performance and high transmission. As a result, the market for optical coatings is anticipated to be driven by the increased demand for anti-reflective coating.
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Top Trends in Global Optical Coatings Market
- One trend that Vantage Market Research expects to see in the Optical Coatings industry is the rising adoption of smart televisions among consumers is a significant trend in the market. This is linked to consumers' improving lifestyles and rising disposable income.
- The expansion of the semiconductor industry, combined with technological developments, is another trend that VMR forecasts will continue in the optical coatings sector.
Global Optical Coatings Market Segmentation
By Product Type
- Anti-Reflective Coatings
- Filter Coatings
- Beam-splitter Coatings
- High-Reflective Coatings
- Transparent Conductive Coatings
- Electrochromic Coatings
- Other Product Types
By Technology
- Sputtering Process
- E-Beam Evaporation
- Ion-Assisted Deposition
- Vacuum Deposition
- Other Technologies
By Application
- Electronics & Semiconductor
- Aerospace & Defense
- Telecommunications
- Automotive & Transportation
- Solar Power
- Construction & Infrastructure
- Healthcare
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Top Report Findings
- Based on product type, the Anti-Reflection (AR) coatings segment dominates the Optical Coatings Market in terms of revenue. Its considerable market share is driven by factors such as the rising need for anti-reflective coatings to create photovoltaic solar panels, automobile displays, windows, and GPS navigation systems.
- The Sputtering Process dominated the Optical Coatings market in terms of technology, and this trend is projected to persist over the projection period. Sputtering is the process through which ions evaporate a solid substance.
- Based on application, the Electronics & Semiconductor category dominated the optical coatings market. This trend will likely continue since optical coatings are increasingly used in optoelectronic devices such as lasers, detectors, fiber optics, and sensors.
Top 10 Players Generate Most of the Market Share of the Global Optical Coatings Market Revenue
Most firms integrate raw material manufacturing and distribution to maintain product consistency and expand which reduces costs and boosts revenues. JENOPTIK (Germany), SCHOTT (Germany), Gelest Inc. (US), Optimax Systems Inc. (US), Materion Corporation (US), DuPont (US), Nippon Electric Glass Co. Ltd. (Japan), PPG Industries Inc. (US), Inrad Optics (US), VIAVI Solutions Inc. (US)., are significant market participants in the optical coatings market. The major companies are constantly improving their optical coating techniques to maintain dominance. They are also spending a lot of money on R&D to look into new uses for optical coatings in aerospace and defense technology.
Electronics and Semiconductors Category in Optical Coatings Market to Generate More Revenue
Optical coatings are used in many electronic applications where light must travel through optical surfaces. For example, optical anti-reflective coatings are used in tablet and cell phone screens for various reasons, including making it simpler to read outside. An electronic display may also use transparent conductive coatings. Consumer electronics demand is the primary driver of the industry for this market. Demand for semiconductors, screens, and other electronic components is expected to continue to be driven by the manufacturing of portable computers, mobile phones, gaming systems, and other personal electronic devices.
In semiconductor applications, optical coatings are employed. For example, the facets of semiconductor diode lasers are covered with these coatings. Due to the growing adoption of the Internet of Things (IoT) across a wide range of industries, the market for optical coatings has experienced very rapid expansion in recent years.
Top Players in the Global Optical Coatings Market
- JENOPTIK (Germany)
- SCHOTT (Germany)
- Gelest Inc. (US)
- Optimax Systems Inc. (US)
- Materion Corporation (US)
- DuPont (US)
- Nippon Electric Glass Co. Ltd. (Japan)
- PPG Industries Inc. (US)
- Inrad Optics (US)
- VIAVI Solutions Inc. (US)
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Optical Coating Market Forecast Report (2022-2028).
Regional Analysis:
North America Optical Coatings market is likely to witness a noteworthy growth with a significant growth rate over the forecast timeframe. This surge is because of the strong presence of industries such as instrumentation, biotechnology, microelectronics, software development & advancements in the medical devices segment leading to augmented demand for Optical Coatings industry.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 12.1 Billion |
| Revenue Forecast by 2028 | USD 20.0 Billion |
| CAGR | 8.8% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | JENOPTIK (Germany), SCHOTT (Germany), Gelest Inc. (US), Optimax Systems Inc. (US), Materion Corporation (US), DuPont (US), Nippon Electric Glass Co. Ltd. (Japan), PPG Industries Inc. (US), Inrad Optics (US), VIAVI Solutions Inc. (US) and others. |
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