Optical Coatings Market: Growing Demand from Asia Pacific to Drive Market at 7.2% CAGR 2013-2019

According to a recent market research report published by Transparency Market Research, the global optical coatings market is anticipated to expand at a CAGR of 7.2% during the period from 2013 to 2019. The report, titled “Optical Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019,” projects the global optical coatings market to reach a valuation of US$10.4 bn by 2019. The overall market was worth US$6.5 bn in 2012.

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Optical coatings refer to thin layers of film on optical devices to enhance their reflection, transmission, and other optical properties. Optical coatings usually contain multiple layers of various metallic and dielectric materials such as titanium dioxide, silicon dioxide, aluminum, and others piled together according to the particular end-use application. The report points out that the rapid growth of the global smartphone market, along with the huge demand for renewable energy, has propelled the growth of the global optical coatings market. However, environmental issues associated with raw materials are expected to restrain the overall market. The optical coatings market has a huge opportunity to grow across the emerging markets in Asia Pacific.

In terms of applications, the global optical coatings market has been segmented into defense/security, electronics, solar, infrastructure, and others. Increasing applications in the field of solar power generation, along with the rise in the usage of smartphones, will propel the growth of the market. The infrastructure segment has dominated the overall market and is anticipated to be the leading application segment in the coming years.

On the basis of product type, the report categorizes the global optical coatings market into filter coatings, anti-reflective coatings, reflective coatings, transparent electrodes, and others. The anti-reflective coatings segment held 30% of the market in 2012. The increase in demand for anti-reflective coatings is due to the growing need for energy-efficient infrastructure and the growth of the semiconductor industry. The transparent electrodes and reflective coatings segments are also expected to register significant growth during the forecast period.

The report studies the optical coatings market across four key regions: Asia Pacific, North America, Europe, and Rest of the World. In 2012, North America accounted for over 30% of the market. During the forecast horizon, Asia Pacific is expected to witness the fastest growth. The rapid growth of the regional market can be attributed to the high GDP growth rate and rise in disposable income, leading to the demand for optical coatings across various end-use applications.

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Describing the competitive landscape, the report profiles some of the key players in the global optical coatings market such as JDSU, Inrad Optics, Newport Corporation, Optical Coatings Japan, Abrisa Technologies, Denton Vacuum LLC, PPG Industries, Janos Technology Inc., 3M Precision Optics, and Ophir Optronics Ltd. The report provides insightful information about the key players including their product portfolio, financial overview, business strategy, and recent developments.

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This release was published on openPR.