Global Optical Coatings Market is expected to grow from US$ 13.38 billion in 2022 to US$ 22.40 billion by 2028; it is estimated to grow at a CAGR of 9.0% from 2022 to 2028.
New York, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Optical Coatings Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Antireflection, High Reflection, Transparent Conductive, Filter, Beamsplitter, Electrochromic, and Others), Technology (Vacuum Deposition Technology, E-Beam Evaporation Technology, Sputtering Technology, and Others), End-Use Industry (Electronics & Semiconductor, Military & Defense, Automotive, Solar Power, Medical, Consumer Goods, and Others), and Geography. An optical coating is a thin layer deposition of material on distinct components such as a lens, mirror or prism. It is aimed explicitly for the modification of transmission, reflective properties or polarization of light. The applications of optical coating include rain sensors, headlight and rearview mirror systems, lighting reflectors, motion detection, camera systems, and other microelectronic industries. 11 Oz Sublimation Blank Mug
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Optical Coatings Market - Strategic Insights
Type, Technology, End Use Industry and Geography
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Optical Coatings Market: Competitive Landscape and Key Developments
DuPont de Nemours, Inc.; PPG Industries, Inc.; Nippon Electric Glass Co., Ltd.; Reynard Corporation; Abrisa Technologies; Alluxa, Inc.; Artemis Optical Ltd.; Cascade Optical Corporation; Chroma Technology Corp.; and Coherent Corp. are among the key players profiled in the study of the optical coatings market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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The rapid rise in demand for solar photovoltaics is driven by customer awareness and a shift towards clean energy generation. Furthermore, the growing demand for consumer electronics is expected to fuel the optical coatings market during the forecast period. Reflective coatings are widely used in solar cells and sustainable buildings for heat retention and reducing energy consumption. The rise in infrastructural development projects and the utilization of environmentally friendly materials has propelled the demand for reflective coatings. Moreover, the emergence of minimization of environmental pollution and advancement in automotive electronics is further estimated to drive the market growth during the forecast period.
Laser glass coatings, low-defect Anti Reflective (AR) coatings, hard-coated bandpass filters, and DUV and UV filters are a few optical coatings utilized in surgical, medical, aerospace and security, image sensors, and machine vision applications. Constant development in the automotive, semiconductors, telecommunication and consumer electronics sectors is witnessed globally, in the past few decades. These sectors have also registered a rise in subsequent research and development of products to cater to distinct customer requirements, which is projected to fuel the optical coatings market. The development of the consumer electronics sector can be attributed to increased disposable income, affordable internet services, a growing younger population, high number of smartphone and electronic goods users. Moreover, the industries involved in consumer electronics have made enormous investments in development of facilities and expansion of production.
Based on type, the optical coatings market is segmented into anti-reflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and others. The anti-reflection segment is expected to grow at the highest CAGR from 2022 to 2028. Anti-reflective coatings are thin-film optical coatings made of several layers of coatings of various refractive indexes within each sheet. They are ideal for glass lens distortion, monitor displays, camera lenses, and eyeglasses used on plastic and glass substrates. The growing demand for anti-reflective coatings for photovoltaic (PV) solar panel production, mirrors, vehicle screens, and GPS navigation systems is expected to fuel the market growth during the forecast period.
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The rising demand for cost-effective film coatings such as filter and anti-reflective in laser, biomedical, and defense industries is driving the optical coatings market. Furthermore, the demand for optical coatings is driven by its capacity to provide high-performance and environmentally friendly coatings in end-use industries such as biomedical, wind, aerospace, defense & security, and sensors. Vacuum deposition is the primary technological division in the optical coatings industry, owing to its improved working properties, such as robustness and curing at room temperature. Vacuum deposition also gives the optic part greater mechanical strength and thermal stability.
The global optical coatings market is categorized into type, technology, and end-use industry. Based on type, the market is segmented into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and others. In terms of technology, the market is segmented into vacuum deposition technology, e-beam evaporation technology, sputtering technology, and others. Based on end-use industry, the market is segmented into electronics & semiconductor, military & defense, automotive, solar power, medical, consumer goods, and others.
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Optical coatings are used in many electronic applications where light must travel through optical surfaces. Optical antireflective coatings are used on tablet and cell phone screens for various purposes, including making text easier to read in daylight. These coatings are used on the semiconductor diode lasers' facets. Since the Internet of Things (IoT) is becoming more prevalent across a wide range of industries, the demand for semiconductors has proliferated in recent years. These factors are propelling the growth of the optical coatings market.
The "Global Optical Coatings Market Analysis to 2028" is a specialized and in-depth study of the optical coatings market with a special focus on the global market trend analysis. The report aims to provide an overview of the optical coatings market with detailed market segmentation. It provides key statistics on the status of leading market players and offers major trends and opportunities in the market.
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