Optical Coating Market | Trends, Applications, Analysis, Growth, And Forecast 2027
Market Overview
The Global Optical Coating Market is
anticipated to surpass a valuation of USD 11,700 million, attaining
a striking CAGR during the review period (2018-2023), Market Research
Future (MRFR) reveals in a detailed report. Optical coatings are extensively
used in several applications, including UV resistance, anti-glare chemical
resistance, and scratch & abrasion protection.
Market Potential and
Pitfalls
The global Optical
Coating Market is witnessing positive growth trends
owing to the surging use of coatings on precision optics. The increasing call
for refractive optics, which can be used to minimize unwanted reflections and
increase throughput is encouraging the growth of optical coating market
globally. Soaring demand for consumer electronics and constantly changing
lifestyle of consumers are some of the major factors contributing to the market
growth. Increasing focus on electricity generation through clean sources will
further enhance the market growth.
Research and development of fabrication
and material technologies are likely to augment the market growth across the
globe. Surging demand for optical coatings for biomedical, genetic analysis,
sensors, and micro-optical systems is further estimated to fuel the market
growth. Moreover, increased prominence of optical systems in the defense sector
is considered a major propelling factor of the market.
On the contrary, strict government
norms, coupled with the concerns related to waste disposal, are considered to
restrict the optical coating market growth in the foreseeable future.
Global Optical Coating
Market: Segmental Analysis
The Optical Coating
Material market has been segmented on the basis of
type, coating method, coating material, and end use industry.
By type, the optical coating market is
segmented into anti-reflective coatings, beam-splitter coatings, transparent
conductive coatings, electrochromic coatings, partial reflective coatings,
high-reflective coatings, filter coatings, and others. Of these, the
anti-reflective coatings market is likely to command the largest share owing to
its huge applicability in consumer electronics for display units, power,
memory, and microprocessors. Moreover, soaring use of anti-reflective coatings
as an anti-glare layer in kiosk displays, eyewear, video games, binoculars, and
others are likely to drive the market in the segment.
By coating methods, the optical coating
market is segmented into sputter deposition, vacuum deposition/evaporation
deposition, and others.
By coating material, the market is
classified into dielectric materials and metallic materials.
By end use industry, the market is
segmented into aerospace & defense, automotive, solar, healthcare,
electronics & telecommunication, and others.
Regional Frontiers
Geographically, the optical coating
market spans across Europe, Asia Pacific, North America, Latin America, and the
Middle East & Africa.
Considering the global scenario, Asia
Pacific is considered the most substantial region for the optical coating
market and is likely to expand at the highest CAGR in the foreseeable future.
APAC has a strong presence of developing countries like South Korea, China, and
Japan. These regions are rapidly urbanizing and thereby has resulted in
changing consumption and lifestyle patterns. APAC also has the presence of a
well-established and evolving manufacturing sector owing to low operating costs
and accessibility of cheap and educated labor. Moreover, the proliferation of
consumer electronic devices, coupled with the soaring purchase and demand for automobiles
are some of the prime factors inspiring the market in the region.
North America and Europe bags the second
and third spot respectively and have comparable consumption and growth
patterns. The existence of major market players in these regions and the
development of advanced technologies have contributed to fortifying the market
positions of these regions.
Industry Updates
July 2019:
TruTag Technologies, Inc. and Colorcon has recently executed a development
agreement, which allows on-dose verification technology for tablets by
combining silica-based micro tag authentication technology of TruTag with
Colorcon’s expertise in film coating systems.
Competitive Dashboard
The players operating in the global
optical coating market include Thorlabs Inc, Edmund Optics Inc,
Optiforms Inc, Angstrom Engineering Inc, Carl Zeiss Jena GmbH, Abrisa
Technologies, MKS Instruments, Inrad Optics, PPG Industries, Reynard
Corporation, AMETEK, Optics Balzers AG, DowDuPont Inc, II-VI Incorporation,
Berliner Glas, and Optical Coatings Japan.
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