The global optical coatings market has been valued at USD XX billion in 2016 and is expected to reach USD XX billion by 2021, growing at a CAGR of 7.67%, during the forecast period 2016-2021.
Optical coatings are mostly used in the telecommunications industry, and the other end-user industries include aerospace, defense, electronics, and semiconductors. These coatings are also increasingly used in the solar industry, as governments across the world are taking initiatives towards sustainable development.
Rising concern about climate change has fueled the demand for renewable sources of energy. Anti-reflection coatings reduce UV reflections up to 40%, which enhances its overall efficiency.Besides these, optical coatings have also found markets in the infrastructure and healthcare industries. There have also been new avenues of nanotechnology and biotechnology that have employed the use of optical coatings.
The market for optical coatings is on the rise, globally, and the growth is especially high in the growing economies of Asia-Pacific. Countries such as China and India have seen an exponential growth in telecommunications, electronics, and entire digital technology.
This has created a huge opportunity for market expansion, as well as, new market entrants in this sector. However, the market faces certain drawbacks, such as high research and development costs, environmental issues associated with the products, strict government regulations, and volatile prices of raw material, which have acted as roadblocks to the growth of the market.
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The market for optical coatings is segmented on the basis of product type, type of raw material used, fabrication technology and major end-user industries. By type, the optical coatings market is segmented into optical filter coatings, anti-reflective coatings, transparent conductive coatings, mirror coatings, and beamsplitter coatings.
The raw materials used for manufacturing include aluminum, magnesium fluoride, calcium fluoride, and silicon oxides, among others. By technology, the market can be segmented into chemical vapor deposition technology, electron beam evaporation technology, sputtering process, and ion-assisted deposition (IAD) technology.
The global optical coatings market is geographically distributed into five regions: Asia-Pacific, North America, Europe, South America, and the Middle East and Africa (MEA). Although the US currently dominates the market demand, this is expected to shift to countries in the Asia-Pacific region.
The Asian optical coatings market growth is expected to be driven by the rising use of renewable energy sources, ever increasing electronics demand and overall economic development during the next five years.
Technological innovations in this decade have brought immense opportunities for a large number of industries. Regarding optical coatings, manufacturers have increased investments in research and development and have devised improved and cost-effective fabrication processes to meet the rising demand.
Some of the major companies currently dominating the market for optical coatings production are -
3M Precision Optics
E. I. du Pont de Nemours and Company
Optical Coatings Japan
Key Deliverables in the Study
Market analysis for the global optical coatings market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global optical coatings market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
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