Global Optical Coatings Market is Estimated to Account for US$ 18,187.8 Mn by End of 2027, Says Coherent Market Insights (CMI)
SEATTLE–(BUSINESS WIRE)–#AntiReflectiveCoatings–Optical coatings are used in many applications for protection against dust, scratches, and other ultraviolet (UV) light. Coatings can be applied at any stage of manufacturing, from before fabrication to after use. Coatings used in these applications can range from the very simple (e.g., a protective finish on wood) to highly complex designs with high levels of complexity that require special coatings such as UV coating. A coat is an invisible layer of a material that is applied to a surface, typically to protect it from abrasion and damage.
The global optical coatings market is estimated to account for US$ 18,187.8 Mn in terms of value by the end of 2027 growing at a CAGR of 7.2% during forecast period 2020-2027.
Growing demand for optical coatings from consumer electronics, construction, solar panels, medical, automotive, telecommunication, and military & defense is driving market growth. Strong growth in solar PV due to the growing focus on the generation of clean energy is again driving the market growth. Also, increasing demand for reflective coatings from construction, telecommunication, and space applications is further contributing to the market growth of the optical coating over the forecast period.
High demand for handheld consoles coupled with the increasing use of portable consumer electronics is projected to fuel the market growth. The increasing number of various manufacturing facilities is also propelling the market growth. Moreover, the growing use of optical coatings in display windows, heaters, solar panels, LCD fabrication, shielding for radio frequency interference, heads-up display, LED displays, and instrument display windows are further anticipated to augment the market growth of optical coatings.
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The growing use of anti-reflective coatings as they are thin-film coatings is expected to bring new market opportunities over the forecast period. These coatings consist of multiple layers with various refractive indexes between each layer. This coating is ideal for display screens, magnifying lenses, camera lenses, and eyeglasses. Anti-reflective coatings are also gaining demand from the construction of photovoltaic solar panels and GPS navigation systems applications. This is expected to foster market growth.
Increasing demand for conductive coatings from the large-scale solar panel is projected to offer bright opportunities over the forecast period. The growing demand for alternate energy sources due to rising environmental concerns is increasing the installation of solar panels. Moreover, countries such as India, the U.S., and China are investing heavily in solar energy generation due to the growing demand for a renewable source of energy and increasing awareness regarding the clean energy source.
Continuous product innovation by the key manufacturer is a growing trend in the market and this trend is expected to supplement the market growth over the forecast period. For instance, in February 2020, Edmund Optics® (EO), a provider of optical and imaging components, has launched a new reflective Ultrafast Enhanced Silver Coating ideal for ultrafast laser applications. The coatings are highly customizable and can be used for build-to-print ultrafast components. Moreover, the new ultrafast enhanced silver coating is suitable for low-to-medium power ultrafast lasers.
Increasing demand for smart watches and smartphones due to the increasing disposable income of the consumers is one of the emerging trends. The rise in the semiconductor industry and technological advancement is again contributing to market growth. Moreover, increasing use of these coatings in speedometer display and other automobile components such as windshield, and headlight lenses will further favor the market growth of the optical coatings over the forecast timeframe.
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1. 3M Precision Optics
2. Ophir Optronics, Ltd.
3. PPG Industries
4. Janos Technology, Inc.
5. Abrisa Technologies
6. Denton Vacuum, LLC
8. Inrad Optics
9. Newport Corporation
10. Optical Coatings Japan
Global Optical Coatings Market, By Product Type:
- Anti-Reflective Coatings
- Filter coatings
- Transparent Electrodes
- Reflective Coatings
Global Optical Coatings Market, By Application:
Global Optical Coatings Market, By Region:
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Middle East
- North America
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having a sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Senior Client Partner – Business Development
Coherent Market Insights
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