Optical Coating Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Optical Coating market size is expected to be worth around US$ 41.4 billion by 2030, according to a new report by Vision Research Reports.

The global Optical Coating market size was valued at US$ 25.5 billion in 2020 and is anticipated to grow at a CAGR of 10.2% during forecast period 2021 to 2030.

Growth Factors

The market is estimated to be driven by the growing smart consumer electronics industry across the globe. Consumer electronic devices include smartphones, tablets, phablets, smartwatches, and smart televisions. Rapid urbanization resulting in changes in consumer lifestyles is expected to create lucrative opportunities for smart consumer electronic devices.

This is projected to lead to increased product utilization as they have a superior optical display and high impact resistance. Asia Pacific is a major market for consumer electronics owing to the presence of a large number of key players. The demand in the region has shifted toward Southeast Asian countries, a trend that is likely to continue over the forecast period. A rising focus on electricity generation through clean sources is also expected to drive product demand. However, the global COVID-19 pandemic is severely affecting the manufacturing industries.

This, in turn, is anticipated to negatively impact the market growth in various applications, such as consumer electronics, automotive, aerospace & defense, solar, and architecture. Moreover, the pandemic led to order cancellations and shipping complications throughout the global industry. The reflective products segment is anticipated to register the fastest CAGR over the forecast period due to the rising usage of these products for roofing applications in the construction industry, as they prevent direct sunlight exposure and reduce overall cooling costs.

There has been a rising demand for both commercial and passenger automobiles in emerging economies like South Africa, Mexico, Brazil, India, and China due to the improving standards of living and population growth. This is projected to benefit the automotive coatings industry, which in turn, is expected to propel the product demand. Furthermore, the increasing need for protection against dust, dirt, UV radiation, and harsh climate is anticipated to drive the product demand in the coming years.

Companies in the market experience fluctuating prices of raw materials, which are driven by factors, such as changes in supplier feedstock costs, inventories, demand and supply factors, and government regulations. Therefore, manufacturers have been focusing on developing technologies for the production of efficient products at low costs. In addition, key players are continuously engaged in the diversification of their existing product portfolio to cater to a large customer base, which ultimately enables a strong foothold in the global market.

Report Highlights

The anti-reflective product segment led the market and accounted for more than 29% share of the global revenue in 2020. Anti-reflective products are thin-film optical coatings that consist of multiple layers of coatings with different refractive indexes between each layer. The thickness of every layer is designed to cause self-extinguishing interference for the light beam reflected by the surface. This makes it suitable for magnifying lenses, display screens, camera lenses, and eyeglasses, wherein they are used on glass and plastic substrates. Growing demand for anti-reflective products in the construction of photovoltaic solar panels, automotive displays, windows, and GPS navigation systems is expected to propel the segment growth over the forecast period.

Conductive products are expected to witness the second-fastest CAGR over the forecast period owing to their wide usage in solar panels. Rising emphasis on the development of alternate energy sources, coupled with huge investments in solar energy generation by countries such as India, the U.S., and China, is likely to propel the segment growth in the coming years. Furthermore, increased product usage in display windows, heaters, LCD fabrication, heads-up display, shielding for radio frequency interference, LED displays, and instrument display windows are anticipated to support the market growth over the forecast period.

The consumer electronics application segment led the market and accounted for more than 31% share of the global revenue in 2020. Rapidly growing demand for smartphones and rising consumer disposable income levels are anticipated to propel the segment growth over the forecast period. Furthermore, technological advancements in the field of smart televisions and smart consumer devices, including and smartphones, are anticipated to positively affect the market growth.

In addition, increased demand for multipurpose devices and a growing number of key players are expected to propel product consumption during the forecast period. Infrared and anti-reflective coatings are widely used in the electronics industry owing to their impact resistance properties and rising demand for superior optical displays.

The growing semiconductor industry, coupled with technological advancements, is expected to augment the demand for these products over the forecast period. However, reducing discretionary spending due to the global pandemic is adversely affecting the demand for consumer electronics. This, in turn, is anticipated to hamper the product demand in the consumer electronics sector.

In the automotive industry, the product is used in speedometer displays owing to its high impact and abrasion resistance. Rising product usage in numerous automobile components including gear knob top, car windows, windshield, and headlight lenses is anticipated to drive the automotive application segment over the forecast period. In addition, UV- and abrasion-resistant coatings are used for components in the automobile industry.

Asia Pacific led the global market accounting for the largest revenue share of more than 38% in 2020. The region is expected to register the fastest growth rate over the forecast period. The rising population and growing demand for consumer electronics, such as mobiles, tablets, cameras, LED screens, video games consoles, and personal computers, are expected to drive the regional market over the forecast period. North America accounted for the second-highest revenue share in 2020 and will expand at a steady CAGR from 2021 to 2028.

Major focus on the development of domestic industries and growing solar industry in the U.S. are driving the product demand in the North American region. Moreover, the rise in the defense budget of the country is creating a strong growth potential for reflective coating products in the aerospace and defense segment of the region. North America is a major manufacturing hub for mid and small-scale medical equipment companies, which is also expected to propel the product demand over the forecast period.

In addition, well-established industries like instrumentation, microelectronics, biotechnology, and software development along with the advancements in the medical devices sector will ultimately lead to increased product demand in the years to come. Rising cases of COVID-19 at the community level are projected to propel the demand for medical components, thereby boosting market growth.

Key Players

  • Alluxa, Inc.

  • Cascade Optical Corp.

  • Chroma Technology Corp.

  • Inrad Optics

  • PPG Industries, Inc.

  • Schott AG

  • Berliner Glas

Market Segmentation

  • Product Outlook 

    • Anti-reflective

    • Reflective

    • Filter

    • Conductive

    • Electrochromic

    • Others

  • Application Outlook 

    • Consumer Electronics

    • Solar

    • Medical

    • Architecture

    • Aerospace & Defense

    • Automotive

    • Telecommunication

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • U.K.

      • Spain

      • The Netherlands

      • Poland

      • Norway

    • Asia Pacific

      • China

      • Japan

      • India

      • Singapore

      • Malaysia

      • Indonesia

      • South Korea

      • Australia

      • Thailand

      • New Zealand

    • Central & South America

      • Brazil

      • Argentina

      • Columbia

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • UAE

      • Qatar

      • Egypt

The Optical Coating market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Optical Coating market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Optical Coating market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Optical Coating market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Optical Coating market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Optical Coating capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Optical Coating by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Optical Coating market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Optical Coating market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Optical Coating market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Optical Coating industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Optical Coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Optical Coating market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Optical Coating market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Optical Coating market. These factors have benefited the growth of the global market for Optical Coating. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Optical Coating. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Optical Coating are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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