The global optical coating market size was valued at USD 12.01 billion in 2020. It is projected to grow from USD 16.66 billion in 2024 to USD 30.62 billion in 2032, with a compound annual growth rate (CAGR) of 8.0% from 2024 to 2032. This data is reported by Fortune Business Insights™ in their publication, “Optical Coating Market Size, 2024-2032.” According to their research, market expansion is anticipated due to recent advancements in optical deposition methods and fabrication, as well as the rising demand for advanced optical products in various applications. Additionally, many industry players are investing in research and development to enhance their coating processes and materials, aiming to provide high-performance optical coatings, which is expected to further drive market growth in the coming years.
Jenoptik (Jena, Germany)
SCHOTT (Mainz, Germany)
Optimax Systems, Inc. (New York, U.S.)
Surface Optics Corporation (California, U.S.)
GELEST, INC. (Pennsylvania, U.S.)
Materion Corporation (Ohio, U.S.)
VAMPIRE OPTICAL COATINGS (Ohio, U.S.)
Optics Balzers AG (Liechtenstein, Germany)
VIAVI Solutions Inc. (California, U.S.)
PPG Industries, Inc. (Pennsylvania, U.S.)
DuPont (Delaware, U.S.)
ZEISS International (Oberkochen, Germany)
Nippon Sheet Glass Co., Ltd (Tokyo, Japan)
Newport Corporation (California, U.S.)
The report offers a systematic study of market segments and a thorough analysis of the market overview. It provides a careful assessment of current market trends and future opportunities. Additionally, the report includes an in-depth analysis of regional dynamics and their contribution to market growth. The impacts of COVID-19 are discussed to give stakeholders and business owners a clear understanding of the prevailing risks. The report also highlights key players and their notable strategies for maintaining a leading position in the market.
Product Types:
Anti-reflective coatings
Reflective coatings
Filter coatings
Conductive coatings
Electrochromic coatings
Others
Regions:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
End-use Industries:
Consumer electronics
Telecommunication
Medical
Transportation
Aerospace & defense
Others
Consumer electronics are expected to hold the largest market share and continue to drive the market during the forecast period, accounting for 51.0% globally and 49.3% in the U.S.
Reinforced Growth of Telecommunication Industry: The global economy's connectivity relies on voice and data transmission, with optical fiber systems experiencing rapid growth. The rise of the internet has significantly driven the optical industry. Optical coatings are essential in various gadgets and components, enhancing product value. Mass production and layering of optical components can reduce costs and increase profitability for the coating industry.
Telecom Industry as a Growth Driver: Compound filters are used to monitor the signal transmission of optical fiber links, with multi-layer thin-film stacks extending the bandwidth in communications. The telecom industry is expected to be the fastest-growing market for optical coatings. Despite limited production capacity, thin-film optical filters, made up of numerous layers and tiny particles, offer high-profit market prices. The demand for high-efficiency standards in thin-film optical filters has surged in response to the optical communications industry's needs.
Information Source:
https://www.fortunebusinessinsights.com/optical-coatings-market-102138
Asia Pacific: The market size in Asia Pacific was USD 5.48 billion in 2020, driven by a growing population and increasing demand for consumer electronics like laptops, cameras, cell phones, video game consoles, LED TVs, and personal computers.
North America: The demand for non-toxic and environmentally friendly coating materials in semiconductor and circuit assembly, sensor applications, laser systems, and aerospace applications has fueled market growth.
Europe: Europe is expected to witness steady market growth due to the increasing use of optical coatings in car windows, automobile displays, and headlamps. The region has the most liberalization, privatization, and competition in the telecommunications industry.
Key Companies Focus on Innovation: Leading companies in the optical coatings market often launch new products at major events to reach a global audience and enhance brand recognition. For example, in May 2019, PPG Industries, Inc. participated in the SID Display Week 2019, showcasing their advanced conductive and transparent functional coatings for display glass and plastic substrates.
Blog Related Insights:https://www.globenewswire.com/en/news-release/2023/10/12/2759280/0/en/Optical-Coatings-Market-Poised-to-Attain-24-30-Billion-by-2029-Projected-8-0-CAGR.html