Optical Coating Industry Overview
The global optical coating market size is expected to reach USD 37.5 billion by 2030, registering a CAGR of 9.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is estimated to be driven by the growing smart consumer electronics industry across the globe. The rising focus on electricity generation through clean sources is also expected to drive product demand. 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 an increase in the utilization of optical coatings as they have a superior optical display and impact resistance properties.
Optical Coating Market Segmentation
Grand View Research has segmented the global optical coatings market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Anti-Reflective Coatings, Reflective Coatings, Filter Coatings, Conductive Coatings, Electrochromic Coatings, Others.
- The anti-reflective product segment led the market and accounted for a revenue share of more than 29.0% in 2021. 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 beams 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 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 the large-scale usage of 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 growth in the coming years.
Based on the Application Insights, the market is segmented into Consumer Electronics, Solar, Medical, Architecture, Aerospace & Defense, Automotive, Telecommunication, Others.
- The consumer electronics application segment led the market and accounted for a revenue share of more than 31.0% in 2021. Rapidly growing demand for smartphones and rising consumer disposable income are factors 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, are anticipated to positively affect the market over the forecast period.
- Infrared and anti-reflective coatings are widely used in the electronics industry owing to the 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.
- The rising use of optical coatings in numerous automobile components including gear knob tops, car windows, windshields, 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.
Optical Coating Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Most of the key players operating in the 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.
Some prominent players in the global optical coating market include
- Alluxa, Inc.
- Cascade Optical Corporation
- Chroma Technology Corp.
- Inrad Optics
- Optical Coatings Japan
- PPG Industries Inc.
- Viavi Solutions
- Schott AG
- Abrisa Technologies
- Berliner Glas
Order a free sample PDF of the Optical Coating Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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