Optical coating market was valued at USD 11.8 billion in 2020, and is projected to reach USD 24.0 billion by 2030, growing at a CAGR of 7.41% from 2021 to 2030| Valuates Reports.

Optical coating

An optical coating is a method of mixing a thin layer of films on optical components such as lenses and mirrors in order to enhance the reflection characteristics and transmission characteristics of the optical system. Optical coatings are usually stacked with different layers and dielectric materials such as titanium dioxide, silica, aluminum, and the like in accordance with each other according to the final application. It can be used to support anti-reflective coating, high reflection coating, and transparent conductive coating concepts.

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Optical coatings are comprehensively applicable to home appliances, the automotive industry, solar panels, and some other sectors. Optical coatings can be applied to multiple substrates such as plastics, metals, polymers, glass, and others, which can improve light transmittance and reduce reflection.

The global optical coating market is driven primarily by the growth in end-use industries such as electrical & electronics, the telecommunication industry, and the medical sector. In addition, it is widely used in lenses, optical fiber end faces, astronomical observations, laser processing machines, and other optical elements. According to the International Organization of Motor Vehicle Manufacturers, the global production of automobiles drastically surged from 31.22 million in January-June 2020, at a rate of 29.19% to 40.34 million during January-June 2021. Furthermore, according to the latest data published by Stockholm International Peace Research Institute, which tracks military expenditure and arms trading globally, the global military expenditure increased to $1,981 billion in 2020, an increase of 2.6% from the year 2019. Owing to rise in investment in 5G and other communications infrastructure, as well as increased data traffic as a result of the COVID-19 pandemic, the industry is further growing. Asia-Pacific dominates the global Optical Coatings market due to growth in the electronics and automotive sectors in the region. According to the Department of Promotion Industry and Internal Trade (DPIIT), the Indian Automobiles market invested around $ 24.5 million worth of FDI (Foreign Direct Investment) in the year 2020. Rise in demand for optical coatings from the solar sector drives the market growth. For instance, according to the Global Solar Council, 18,070 MV of total solar PV capacity has been installed in Vietnam during the year 2020. It is expected to reach up to 36,774 MV of solar PV capacity by the end of 2025.
The optical coating market is segmented on the basis of type, technology, end-use industry, and region.

By type, the optical coating market is divided into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and partial reflection coatings. By technology, the market is classified into vacuum deposition, E-beam evaporation technology, sputtering technology, and ion-assisted deposition technologies. By end-use industry, the market is divided into electronics and semiconductor, military and defense, automotive, construction, solar, medical and others. By region, the optical coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for the highest CAGR, followed by LAMEA, North America, and Europe. The high adoption of optical coating products in the region is anticipated to continue to bolster the optical coating market size, due to the presence of huge population base, increased investment in the infrastructure, and presence of many developing countries in this region.

The key players operating in the global Optical coating market are E.I. Dupont De Nemours Company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems. Other key players (not profiled in report) in the optical coating industry value chain are Optics Balzers, Zygo Corporation, and Optical Coating Technologies., etc. that are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for the optical coating market during the forecast period.

COVID-19 Impact Analysis

COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market. Optical coating manufacturers were affected in 2020 due to business shutdown mandates, social distancing norms, and limited local &state government office activities. COVID-19 had a major impact on the aerospace & defense industry, which is one of the largest end-users of optical coatings. The lack of operations during the COVID-19 timeframe has resulted in a decrease in optical coatings consumption in 2020.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides a detailed quantitative analysis of the current optical coating market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of optical coating market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global optical coating market.

Optical Coating Market Segmentation

By Type

• Antireflection Coatings
• High Reflection Coatings
• Beamsplitter Coatings
• Transparent Conductive Coatings
• Electrochromic Coatings
• Filter Coatings
• Partial Reflection Coating

By Technology

• Vacuum Deposition Technology
• E Beam Evaporation Technology
• Sputtering Technology
• Ion assit deposition Technology
• Others

By End Use Industry

• Electronics and Semiconductor
• Military and Defense
• Automotive
• Construction
• Solar
• Medical
• Others

By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

Key Market Players

• I. Dupont De Nemours Company,
• PPG Industries, Zeiss Group,
• Nippon Sheet Glass Co., Ltd.,
• Abrisa Technologies,
• Newport Corporation,
• Inrad Optical, Inc.,
• Reynad Corporation,
• Artemis Optical Ltd.,
• II-VI Optical Systems.

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