Opportunities for the global thin film coating market to reach $13.6 billion by 2024

According to a new market report published by Lucintel, the future of the global thin film coating market looks promising with opportunities in consumer electronics, tools & equipment, automotive, aerospace & defense, energy, and medical industry. The global thin film coating market is expected to reach an estimated $13.6 billion by 2024 and it is forecast to grow at a CAGR of 4.4% from 2019 to 2024. The major growth drivers for this market are increasing demand for thin film coating in consumer electronics for high resolution display and other end use industries due to its superior functional properties and performance benefits.
In this market, thin film coatings are used in consumer electronics in high resolution display and in tools & equipment; it is used in cutting & forming tools, and bearings. Thin film coating are used in automotive in structural and under the hood components and in other industries such as aerospace & defense, it is used in turbine blades, landing gear, engine pylons, and military & defense optics. Lucintel forecasts that consumer electronics is expected to remain the largest end use industry and it is expected to witness the highest growth over the forecast period due to increasing demand from electronic display products such as mobiles, laptops and televisions.
Within the thin film coatings market, DLC coating will remain the largest coating type driven by the rise in demand for DLC coating in automotive engine components and medical devices due to high biocompatibility. Lucintel predicts that the transparent conductive coating type is expected to witness the highest growth over the forecast period supported by increase in demand of transparent conductive coatings in various applications such as smart devices, tablets, laptops, photovoltaics, OLEDs, and others.

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to high production of consumer electronics and rapid industrialzation of automotive, aerospace, defense, and medical industries.

Emerging trends, which have a direct impact on the dynamics of the industry, include use of thin film coating for making flexible displays. Indium tin oxide (ITO) is almost exclusively used in transparent conductive coatings for high resolution display because of its two important properties, electrical conductivity and optical transparency. Oerlikon, Materion, Ionbond, HHV Ltd, Richter Precision, Micro Point Pro Ltd., Reynard Corporation and Newport Thin Film Laboratory are the major suppliers of thin film coatings.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thin film coating market by end use industry, coating type, coating technique, coating material, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Thin Film Coating Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global thin film coating market by end use industry, coating type, coating technique, coating material, and region, as follows:

By End Use Industry [Value ($B) shipment analysis for 2013 – 2024]:
• Consumer Electronics
• Tools & Equipment
• Automotive
• Aerospace & Defense
• Energy
• Medical
• Others

By Coating Type [Value $B shipment analysis for 2013 – 2024]:
• Anti-reflective & High-reflective Coating
• Transparent Conductive Coating
• Diamond Like Carbon Coating
• Others

By Coating Technique [$B shipment analysis for 2013 – 2024]:
• Physical Vapor Deposition (PVD)
• Chemical Vapor Deposition (CVD)
• Others

By Coating Material [$B shipment analysis for 2013 – 2024]:
• Metal
• Ceramic

By Region [$B shipment analysis for 2013 – 2024]:
• North America
• Europe
• Asia Pacific
• The Rest of the World

This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Due Diligence.

This report answers the following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the thin film coating market by end use industry (consumer electronics, tools & equipment, automotive, aerospace & defense, energy, medical, and others), coating type (AR & HR coating, transparent conductive coating, DLC coating, and others), coating technique (PVD, CVD, and others), coating material (metal, and ceramic), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This release was published on openPR.