>>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.
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Global Optical Coating Market: Segmental Analysis
The optical coating 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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