Antireflective Coatings Market to Grasp $8.9 Billion By 2027, With A CAGR Of 5.82% | Product Estimates & Strategy

Allied Market Research recently published a report, titled, "Antireflective Coatings Market by Application (Eyewear, Electronics, Solar Panels, Automobile, Others), by Technology (Vacuum Deposition, Electronic Beam Evaporation, Sputtering, Others), by Layer Type (Single Layered, Multi Layered): Global Opportunity Analysis and Industry Forecast, 2020-2030". As per the report, the global antireflective coatings industry was accounted for $4.3 billion in 2020, and is expected to reach $8.9 billion by 2030, growing at a CAGR of 7.61% from 2021 to 2030.

Major determinants of the market growth

Rise in demand for anti-reflective coatings from the eyewear and photovoltaic industry and increase in acceptance of anti-reflective glasses in the construction industry have boosted the growth of the global antireflective coatings market. However, high cost associated with product and lack of awareness among consumers and service providers hinder the market growth. On the contrary, development of improved durability to provide better power supply for solar panels would create new opportunities in the future.

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Covid-19 scenario:

The Covid-19 pandemic impacted the market negatively, due to the emergence of strict restrictions on international trade and lockdown regulations on the operations of chemicals.
The prolonged lockdown led to major suspension of the market activities and the market players had to bear the losses and face challenges such as lack of raw materials and skilled labor.
The eyewear segment dominated the market

By application, the eyewear segment held the largest share in 2020, accounting for more than one-third of the global antireflective coatings market, owing to high demand for progressive lenses as more people suffer from presbyopia. However, the automobile segment is estimated to register the highest CAGR of 8.76% during the forecast period, due to use of antireflective coating for reduction of glare and double images.

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The sputtering segment to portray the highest CAGR through 2030

By technology, the sputtering segment is projected to manifest the highest CAGR of 8.04% from 2021 to 2030. However, the vacuum deposition segment held the largest share in 2020, accounting for nearly two-fifths global antireflective coatings market, due to extremely low environmental impact and maximum versatility.

North America held the lion's share

By region, the global antireflective coatings market across North America dominated in 2020, accounting for more than more than one-third of the market, owing to rise in demand for anti-reflective coatings in eyewear applications and growth in application in consumer goods such as cameras, smartphones, and flat panel displays. However, the market across Asia-Pacific is expected to showcase the highest CAGR of 8.27% during the forecast period, due to low production prices and large presence of key market players.

Major Market Players

Essilor International
E. I. du Pont de Nemours and Company
Carl Zeiss AG
Honeywell International
Koninklijke DSM N.V.
Hoya Corporation
PPG Industries
Optical Coatings Japan
Viavi Solutions, Inc.
Rodenstock GmbH

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