Optical Coating Market was worth USD 14.5 billion in 2021 and projected to reach USD 28.5 billion in 2029 | Size, Share & Industry Growth Forecast

Optical Coating Market

Optical Coating Market was Valued USD 14.5 billion in 2021 and estimated to reach USD 28.5 billion in 2029, and Market will grow at a CAGR of 8.8%.

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The factors driving the growth of Optical Coating Market includes increasing application of optical coating in the consumer electronic devices such as mobile phones, TV, display screens and tablets, growing demand for energy efficient optical devices and rising emphasis on utilizing clean source of energy. According to the report published by Statista, revenue generated from the sales of tablets in India is estimated to reach USD 0.94 billion by the end of 2022, growing at a CAGR of 4.40%, over the forecast period (2022-2026), which will accelerate the Optical Coating Market share in the approaching years. Moreover, increasing use of reflective coatings in green buildings for reducing the energy consumption, rise in the launch of innovative products, emergence of intelligent transport systems, growing adoption of advanced technologies by manufacturers and rising focus on reducing environmental pollution, are some of the additional factors supplementing the Optical Coating Market Size. In addition, increasing investments by major companies on research and development, strategic mergers and collaborations between key industry leaders, rising disposable incomes and rapid urbanization, are further contributing to the market growth.

However, growth of the Optical Coating Market is hindered due to fluctuations in the prices of raw materials.

The prominent players operating in the market are PPG Industries Inc., Schott AG, Berliner Glas, Carl Zeiss Jena Gmbh., Cascade Optical Corp., Chroma Technology Corp., Umicore, Celestron, Edmund Optics and Inrad Optics, among others.

Based on Product Type, the Anti-Reflective Coating segment is predicted to grow at a remarkable CAGR during the forecast period

Increasing application of anti-reflective coating in the speedometer displays owing to its high abrasion properties, is pushing growth of the segment.

Based on Application, the Consumer Electronics segment is projected to capture the largest market share over the forecast period

Growing demand for electronic wearables and GPS devices and technological innovations in smart television, are propelling growth of the segment.

Based on Region, the North American region is anticipated to expand at a robust CAGR during the forecast period

As per the Optical Coating Market Trend, growing demand for consumer electronic devices, rise in Government's budget allocation on the defense sector, rapid industrialization, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In September 2020, EnPro Industries Inc. completed the acquisition of Alluxa Inc., is an industrial technology company, which provides optical coatings for various applications.
In February 2019, Edmund Optics (EO), the premier provider of optical components, partnered with II-VI Incorporated to provide delivery of Zinc Selenide optical components. Zinc Selenide (ZnSe) Plano-Convex Lenses, Zinc Selenide (ZnSe) Aspheric Lenses, CO2 Beam Expanders, and Lens Stress Analyzers.

Market Segmentation

Segmentation by Product

Reflective Coating
Anti-Reflective Coating
Conductive Coating
Others

Segmentation by Application

Consumer Electronics
Solar
Telecommunications
Automotive
Aerospace & Defense
Healthcare
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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