The global optical coatings market size is expected to reach USD 25.9 billion by the end of year 2027 with CAGR of around 9% over the forecast period 2020 to 2027.
Optical coatings refer to thin layers of film on optical devices to enhance their reflection, transmission, and other optical properties. Optical coatings usually contain multiple layers of various metallic and dielectric materials such as titanium dioxide, silicon dioxide, aluminum, and others piled together according to the particular end-use application.
Recent technological advancements in the field of optical deposition techniques and fabrication, coupled with rising demand for efficient optical devices in end-use applications, is expected to drive the growth over the forecast period.
Optical coatings are being increasingly used in numerous applications such as architecture, consumer electronics, solar panels, automotive, medical, telecommunication, and military and defense. Rapid growth of the solar PV market, driven by increasing focus on the generation of clean energy, and rising demand for consumer electronics is expected to fuel the market growth over the forecast period.
Reflective coatings are mainly used in construction, telecommunication, and space applications. Growing use of reflective coatings in green buildings for heat retention and reducing energy consumption is expected to drive its demand over the forecast period. In addition, increasing usage of handheld consoles, coupled with rising demand for portable consumer electronics, is expected to propel the market growth over the forecast period.
Price volatility of raw materials is one of the major factors affecting the prices of optical coatings. It leads to a decrease in profitability for manufacturers and increases the market costs of optical coatings, thus restraining market growth. Although prices of metals have witnessed a declining trend over the past few years, sudden variations in prices can lead to a negative impact, thus affecting market growth. Changes in the price of precious metals used for high-end applications, especially gold and platinum, significantly affect the overall cost of the application, thus impacting the demand for optical coatings.
Anti-reflective coatings 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 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.
In terms of revenue, anti-reflective coatings emerged as the largest product segment and accounted for a share of more than 29.0% in the market in 2018. Growing demand for anti-reflective coatings for the construction of photovoltaic solar panels, automotive displays, windows, and GPS navigation systems is expected to propel the growth of the market over the forecast period.
The conductive coatings product segment is expected to witness significant growth over the forecast period owing to large-scale 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, U.S., and China, is likely to propel the growth in the coming years. Furthermore, increased usage in display windows, solar panels, heaters, LCD fabrication, heads-up display, shielding for radio frequency interference, LED displays, and instrument display windows is anticipated to support the optical coatings market growth over the forecast period.
The consumer electronics segment emerged as the largest application and accounted for over 30.0% of the market in 2018. Rapidly growing demand for smartphones and rising consumer disposable income is anticipated to propel the segment growth over the forecast period. Furthermore, technological advancements in the field of smart televisions and smart consumer devices, including smartwatches and smartphones, is anticipated to positively affect the market over the forecast period. In addition, increased demand for multipurpose devices and growing number of key players are expected to propel the demand for optical coatings over the forecast period.
Infrared and anti-reflective coatings are widely used in the electronics industry owing to rising demand for superior optical display and impact resistance properties. The growing semiconductor industry, coupled with technological advancements, is expected to augment the demand for these optical coatings over the forecast period.
In the automotive industry, it is used in speedometer display owing to high impact resistance and abrasion resistance. Rising use of optical coatings in numerous automobile components including gear knob top, car windows, windshield, and headlight lenses is anticipated to drive the growth of the market over the forecast period. In addition, UV resistant and abrasion resistant coatings are used for components in the automobile industry.
In terms of revenue, North America was the largest regional market and accounted for over 38.0% of the market in 2018. The growing solar industry in U.S. and focus on developing domestic industries is driving the demand in this region. Increase in U.S. defense budget is creating a strong growth potential for reflective coating products in the aerospace and defense segment.
North America is a major manufacturing hub for mid-scale and small-scale medical equipment companies, which is expected to propel the demand for optical coatings over the forecast period. In addition, strong presence of industries like instrumentation, microelectronics, biotechnology, and software development and advancements in the medical devices sector will ultimately lead to increased demand for optical coatings over the forecast period.
Asia Pacific is expected to witness a significant CAGR of 10.1% in terms of revenue over the forecast period. Rising youth population, coupled with growing demand for consumer electronic products such as mobiles, tablets, cameras, LED screens, video games console, and personal computers, is expected to drive the regional market over the forecast period.
Optical Coatings Market Share Insights
Most of the key players operating in this global market have integrated their raw material production and distribution operations to maintain product quality and expand regional outreach. This provides companies a competitive advantage in the form of cost benefits, thus increasing their profit margin. Companies focus on research and development activities to develop new products to sustain market competition and changing end-user requirements.
Major companies contributing the global optical coatings market are Alluxa, Cascade Optical Corporation, Chroma Technology Corporation, Inrad Optics, Optical Coatings Japan, PPG Industries, Inc., VIAVI Solutions Inc., Schott AG, and Abrisa Technologies
Market Segmentation, By Product
Market Segmentation, By Application
Market Segmentation, By Region
The Optical Coatings 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 Coatings market for the base year 2019 and the forecast between 2020 and 2027. 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 Coatings market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Optical Coatings 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 Coatings 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 Coatings 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 Coatings 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 Coatings market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. 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 Coatings market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Optical Coatings 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 Coatings 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.
Optical Coatings 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 Coatings 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 Coatings 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 Coatings market. These factors have benefited the growth of the global market for Optical Coatings. 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 Coatings. 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 Coatings are as follows:
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
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 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.
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:
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