The global optical coatings market is projected to reach USD 11,788.3 million by 2023 at a CAGR of 7.07% during the review period and top key players are Edmund Optics Inc. (US), Thorlabs Inc., (US), Angstrom Engineering (Canada), Optiforms, Inc. (US), ab

Optical coatings are manufactured by depositing metallic or dielectric materials on optical surfaces, such as lenses, to improve reflection, transmission, and other optical properties. These coatings involve deposition of thin layers on the optical component in such a way that the interference modifies reflection, absorption, polarization, and transmission characteristics of the system. The performance of optical coating depends on the coating material, thickness of different layers, number of layers, and the difference in refractive index at the layer interface.

According to MRFR analysis, the global optical coatings market is projected to reach USD 11,788.3 million by 2023 at a CAGR of 7.07% during the review period. The surging demand for optical coatings from the growing consumer electronics industry is expected to drive the growth of the global market. Furthermore, advancement in technology in the optical coating fabrication process and the increasing adoption of optical coatings in the automobile industry are further projected to favor the global market growth. Based on type, the anti-reflective coatings segment accounted for the largest market share of 28.45% in 2017 and is expected to reach USD 3,428.5 million by 2023 owing to their enhanced glare-reducing properties, and improved transmission power of the optical components.

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By coating method, the vacuum deposition/evaporative deposition segment dominated the global market and was valued at USD 3,833.7 million in 2017 and is projected to register a CAGR of 6.64% during the review period. The vacuum deposition/evaporative deposition technology offers high mechanical strength, reliability, and thermal stability to the optical components. On the basis of coating material, the metallic materials segment was the largest and held market share of 54.04% in 2017, but the dielectric materials segment is poised to exhibit a higher CAGR of 6.64% during the forecast period.
Based on end-use industry, the electronics & telecommunication segment held the largest market share of 35.18% in 2017 due to the growing demand for optical coatings in various applications such as PCB coating, LED lighting, fluorescent lighting, and optical storage devices. The increasing demand for vacuum deposition technology in the medical and solar energy sectors is likely to create significant opportunities for the market players.
However, stringent environmental regulations against the use of Cr6+ in optical coatings is expected to hamper the global market growth in the coming years.

FIGURE 1 Global Optical Coatings Market, by End-Use Industry, 2017 (%)

Regional Analysis
The global optical coatings market has been analyzed across five key regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The Asia-Pacific market accounted for the largest market share of 34.36% and was valued at USD 2,736.7 million in 2017 and is expected to register the highest CAGR of 8.21% during the forecast period. This is attributed to the growing investments in the solar power sector and reduced solar power costs in the region. China held the largest market share of 40.42% in 2017 and is expected to reach USD 1,807.8 million by 2023 owing to large consumer base and high solar photovoltaic (PV) capacity. The North American market was the second-largest, valued at USD 2,236.3 million in 2017 and is expected to register a healthy CAGR of 6.61% during the forecast period. This is attributed to the large presence of optical coating manufacturers such as Edmund Optics Inc., Thorlabs Inc., and Optiforms Inc., technological advancements, and surging demand for anti-reflective and filter optical coatings in the region. The US is the major contributor in the region and was valued at USD 1,911.8 million in 2017 owing to the growing demand for the product in various end-use industries such as electronics and telecommunication and aerospace & defense.

The European market held a significant share of 25.29% in 2017 and is expected to exhibit a substantial CAGR of 5.80% by 2023 due to the well-established solar energy and defense markets. Germany is the prominent country in the region and is expected to reach USD 794.0 million at a CAGR of 6.04% during the review period owing to technological advancements in the automotive and aerospace & defense industries. The Latin American market was valued at USD 403.2 million in 2017 due to easy availability of raw materials and growing number of state-of-the-art production facilities.

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Mexico dominated the regional market with a market share of 56.5% and is expected to exhibit a high CAGR of 7.93% during the assessment period owing to the growing telecommunication industry. The Middle East & Africa market was valued at USD 573.8 million in 2017 and is expected to register a healthy CAGR of 7.14% by 2023. This is attributed to the stringent regulations imposed by the governments to build energy-efficient buildings in the region. GCC accounted for the largest market share of 65.2% and was valued at USD 374.3 million in 2017 owing to growing government spending on solar energy.

Based on end-use industry, the global optical coatings market has been segmented into electronics and telecommunication, automotive, healthcare, aerospace & defense, solar, and others.

Key Players
The key players operating in the global optical coatings market are Edmund Optics Inc. (US), Thorlabs Inc., (US), Angstrom Engineering (Canada), Optiforms, Inc. (US), AbrisaTechnologies (US), Carl Zeiss Jena GmbH (Germany), Inrad Optics (US), MKS Instruments (US), Reynard Corporation (US), PPG Industries, Inc. (US), Optics Balzers AG (Liechtenstein), AMETEK.Inc. (US), II-VI Incorporated (US), DowDuPont, Inc. (US), Berliner Glas Group (Germany), and Optical Coatings Japan (Japan)

Geographic Analysis
The report covers a brief analysis of geographies such as:
• North America
o US
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Russia
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Taiwan
o Rest of Asia-Pacific
• Latin America
o Mexico
o Brazil
o Rest of Latin America
• Middle East & Africa
o GCC
o South Africa
o Rest of the Middle East & Africa

Key Findings
As per MRFR analysis, the global optical coatings market is projected to reach USD 11,788.3 million at a robust CAGR of 7.07% during the assessment period.
By type, the anti-reflective coatings segment dominated the global market with 28.45% market share and was valued at USD 2,266.0 million in 2017.
Based on coating method, the vacuum deposition/evaporative deposition segment accounted for the largest market share of 48.13% in 2017 and is expected to exhibit a healthy CAGR of 6.64% by 2023.
On the basis of coating material, the metallic materials segment accounted for the largest market share of 54.04% in 2017 and is expected to reach USD 6,217.5 million during the forecast period.
By end-use industry, the electronics & telecommunication segment was the largest, valued at USD 2,802.0 million in 2017 and is estimated to exhibit a CAGR of 6.63% during the review period.
Asia-Pacific is a growing market for the key market players during the forecast period and accounted the largest market share of 34.36% in 2017. This is attributed to the increasing investments in the solar energy industry by the governments in developing countries, large consumer base, and growing electronics & telecommunication industry.
Intended Audience
• Optical coating manufacturers
• Suppliers and distributors
• Potential investors
• Raw material suppliers
• Associations
• Governments
• End-use industries
DC – Description
• anti-reflective coating
• hydrophobic coating
• thinoptics
• mirror coating
• polyurethane coating
• metal coat

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