According to research conducted by Future Market Insights on the optical coating market, demand is estimated to reach a valuation of US$ 22,598.7 Million by the end of the assessment period. The Global Optical Coating Market is expected to grow at a rapid pace during the forecast period, with a growth rate of 8.8% owing to consistent demand from end uses such as consumer electronics, automotive, lenses & eyewear and others.
The market for optical coatings is being boosted by rising spending in the defense sector and rising demand for optical coatings from the electronics and semiconductor industries. The market is also anticipated to develop as optical coatings find more uses in the aerospace industry. The AR coatings market section of the optical coatings market commands a sizeable market share in the entire optical coating industry due to its capacity to provide high-quality coatings with a high degree of transmission and low reflection.
Market players are making huge R&D investments to investigate new optical coating applications in aerospace and defence equipment, medical industry, and automotive industry. Additional significant market players are competing for the top spot in the market by developing technology-driven breakthroughs in optical processes. The market for optical coatings is being driven by the quick development of numerous end-use sectors and the expanding popularity of creative designs for eyewear and consumer devices.
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“Growing Consumption of Optical Coating coupled with increasing utilization of consumer electronics, lenses & eyewear, optical coating is expected to drive the market during the projected period where as key market player are significantly spending in R&D to explore the optical coating application in multiple end-use industry ,” said an analyst at FMI.
Key Takeaways from Optical Coatings Market Study
· Demand for AR coating to witness a growth outlook of around 8.2% over the coming assessment period.
· Vacuum deposition to remain key technology of optical coating accounting for around 50% of the volume consumption.
· Consumer Electronics and Lenses & Eyewear to remain a key application segment and this industry is expected to grow at a significant rate over the forecast period.
· The optical coatings market is being driven by the quickly expanding demand from a variety of end-use sectors and the expanding popularity of stylish designs for eyewear and consumer devices.
· The market for optical coatings is expanding because of rising demand from the electronics and semiconductor industries as well as rising spending in the defense industry.
Competitive Landscape
The Global Optical Coatings market is fragmented with the presence of some dominant key market players. These players are holding less than 25% of the market share. Some of the top manufacturers included in the research study are DuPont,Zeiss Group, PPG Industries, Nippon Sheet & Glass, Inrad Optics, EssilorLuxoticca, Optosigma corporation, Hoya Corporation, Brewer Sciences Inc, SDC Technologies, Reynard Corporation, Tian Cheng Optic Co., Ltd., Zygo Corporation, Evaporated Coatings Inc., Deposition Sciences Inc., Helia Photonics, Cascade Optical Corporation, Torr Scientific Ltd., and Precision Opticals are the the manufacturers of optical coating profiled in the full version of the report.
A few major competitors in the optical coatings market are concentrating on growing their coating capacity by building new facilities in strategic market locations. Manufacturers are improving their relationships with end users to provide Optical Coatings through contract manufacturing or through partnerships with OEMs in order to increase their revenue in an effort to further strengthen their global presence. Since the bulk of market participants are situated in the United States, American companies have dominated the optical coatings business.
Also, the focus has been on the expansion of production capacities to meet the growing demand for Optical Coating. For instance,
ü EssilorLuxottica fully acquired Shamir Optical Industry Ltd., which has a strong presence in ophthalmic lens technology and related products.
ü Nippon Sheet Glass & Co., Ltd. collaborated with Cohda Design Limited (UK) to create new glass applications
ü PPG completed the acquisition of Worwag, a manufacturer of coatings for industrial and automotive applications.
Optical Coating Market Segmentation
By Product Type:
AR coatings
High Reflective Coatings
Transparent Conductive Coatings
Filter Coatings
Beam splitter Coatings
Others
By Technology:
Vacuum Deposition
E-beam Evaporation
Sputtering Process
Ion-Assisted Deposition
By Application:
Consumer Electronics
Lenses & Eyewear
Solar
Automotive
Aerospace & Defense
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East & Africa
About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.