Optical Coatings Market Size to Hit US$ 20.43 Bn, Globally, by 2027

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The global optical coatings market size is likely to reach USD 20.43 billion by the end of 2027 and is expected to grow at a compound annual growth rate (CAGR) of 5.6% during the forecast period 2020 to 2027. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, market share analysis, potential challenges, profitability graph and the overall market environment.

Optical coating is the deposition of thin layers of coatings with different refractive indexes on the optical component this in turn modifies the transmission &reflection characteristics of the system. These coatings protect the optical component from unfavorable environmental conditions. Further, these products expected to have significant demand in corrective lenses, camera lens, solar cells, and other various components.

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Growth Factors

Significant growth in the demand for consumer electronic devices such as tablets, smartphones, smartwatches, and smart televisions estimated to drive the market growth. Rapid urbanization that results in changes in the consumer lifestyle expected to offer lucrative growth opportunities for smart consumer electronic products over the forecast period. In addition, rise in demand for clean and green generation along with smart and green products across various industries such as construction, automotive, and others expected to further propel the market growth over the upcoming years.

However, volatility in the price of raw materials is one of the major concerns that further affect the overall prices of optical coatings products. This decreases the profitability ratio for manufacturers as well as increases the total market costs for the product, thus restricting the market growth. Although metal prices are witnessed to have a declining trend in the past few years, sudden fluctuation in prices may have a negative impact on the market growth.

Report Highlights

  • North America led the global market accounting for a value share of more than 37% in 2019 owing to prominent growth of solar industry particularly in the U.S.
  • The Asia Pacific estimated to exhibit significant growth over the upcoming years because of rising demand for consumer electronics along with immense opportunity from automotive and manufacturing sectors
  • The anti-reflective product segment dominated the market accounting for over 30% share of the overall revenue in 2019 due to its increasing application in display screens, magnifying lenses, and eyeglasses
  • Conductive coatings segment estimated to exhibits lucrative growth over the forthcoming years because of its large-scale application in solar panels
  • Consumer electronics captured major market share in the global market accounting for over 33% of value in 2019 due to rapid growth in demand for smartphones and rising disposable income of consumers
  • Automotive industry is the other most important application segment for the market owing to its application in speedometer display and other components in the automotive industry

Key Market Players and Strategies

The optical coatings industry offer enormous growth potential for the industry participants to strengthen their footprint in the emerging and flourishing end-use markets such as solar, automotive, green building construction, telecommunication, and many more. Most of these players have integrated their distribution operation and raw material production sectors to maintain the product quality along with expanding their geographical reach. Apart from this, several industry participants are immensely focusing towards research & development (R&D) activity to create product differentiation in the market as well as to strengthen their foothold on the global scale.

Some of the prominent players in the optical coatings market include:

  • Cascade Optical Corporation
  • Alluxa, Inc.
  • Chroma Technology Corp.
  • Optical Coatings Japan
  • Berliner Glas
  • Inrad Optics
  • PPG Industries Inc.
  • Schott Ag
  • Viavi Solutions Inc.
  • Abrisa Technologies

Market Segmentation

By Product

  • Reflective Coatings
  • Anti-reflective Coatings
  • Filter Coatings
  • Electrochromic Coatings
  • Conductive Coatings
  • Others

By Application

  • Solar
  • Consumer Electronics
  • Telecommunication
  • Architecture
  • Medical
  • Automotive
  • Aerospace & Defense
  • Others

Regional Segmentation

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Regional Snapshots

North America emerged as the global leader for optical coatings market, in terms of value, in the year 2019. Increasing demand for eco-friendly and non-toxic optical coating materials especially in sensing applications, semiconductor & circuit assembly, aerospace applications, and laser systems are the major factors that attributed towards the prominent growth of optical coatings within the region. The region is a major manufacturing hub for small-scale and mid-scale companies dedicated for the development and manufacturing of medical equipment and devices that further anticipated to propel the market growth over the upcoming years.

Furthermore, North America being technology leader across the globe provides immense growth opportunity for various industries such as microelectronics, instrumentation, Information Technology (IT), and biotechnology that in turn ultimately leads to an increased demand for optical coatings products over the analysis period.

On the contrary, the Asia-Pacific projected to witness the highest growth rate in the global optical coatings market during the forecast years from 2020 to 2027. The growth of the region is majorly driven by the growing demand for sophisticated and advanced electronic devices for example LCDs, smartphones, and computers. Furthermore, increasing investments by the foreign manufacturers in order to expand their production facilities along with enhanced living standard of people accounted as the other most prominent factors contributing towards the market growth in this region.

Why should you invest in this report?

If you are aiming to enter the global optical coatings market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for optical coatings are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Data points covered under optical coatings market research study:

  • The historic and forecast market estimation from years 2016 to 2027
  • Market estimation and research analysis for the global market by distribution channel
  • Market estimation and research analysis for the global market by region
  • Research analysis on market dynamics including drivers, restraints, opportunities, trends, and market challenges.
  • Competitive scenery and business strategies by key players
  • SWOT Analysis
  • PORTER's five force research analysis
  • PEST Analysis
  • DR impact analysis
  • Heat map analysis
  • Investment feasibility analysis

Key Questions Answered by the Report:

  • What will be the size of the global optical coatings market in 2027?
  • What is the expected CAGR for the optical coatings market between 2020 and 2027?
  • Which are the top players active in this global market?
  • What are the key drivers of this global market?
  • How will the market situation change in the coming years?
  • Which region held the highest market share in this global market?
  • What are the common business tactics adopted by players?
  • What is the growth outlook of the global optical coatings market?

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