A growth rate of 8.8% is projected for the global optical coating market during the forecast period due to the steady demand from end applications like consumer electronics, automobiles, lenses & eyeglasses, and others.
Over the next 10 years, it’s anticipated that the optical coatings market will rise significantly, driven by factors including rising demand for high-performance optics, advancements in technology, and a growing focus on trendy and aesthetically pleasing designs. According to market research, the value of the global optical coatings market is predicted to reach US$ 22,598.7 million by 2032.
Rising defense spending and increased demand for optical coatings from the semiconductor and electronics industries are both stimulating the market for optical coatings. Additionally, as optical coatings are used more frequently in the aerospace sector, the market is expected to grow. Due to its ability to deliver high-quality coatings with a high degree of transmission and minimal reflection, the market segment for AR coatings in the optical coatings industry commands a sizable market share across the whole optical coating industry.
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Large R&D investments are being made by market participants to look into new optical coating applications for aerospace and defense, healthcare, and automotive equipment. By creating technologically advanced innovations in optical processes, more key market players are vying for the top rank in the industry. The market for optical coatings is being propelled by the swift growth of several end-use industries as well as the rising acceptance of innovative designs for consumer electronics and eyeglasses..
Key Takeaways from Optical Coatings Market Study
- Demand for AR coating to witness a growth outlook of around 8.2% over the coming assessment period.
- Vacuum deposition remains a key technology of optical coating accounting for around 50% of the volume consumption.
- Consumer Electronics and Lenses & Eyewear to remain a key application segment and this industry is expected to grow at a significant rate over the forecast period.
- The optical coatings market is being driven by the quickly expanding demand from a variety of end-use sectors and the expanding popularity of stylish designs for eyewear and consumer devices.
- The market for optical coatings is expanding because of rising demand from the electronics and semiconductor industries as well as rising spending in the defense industry.
Competitive Landscape
The Global Optical Coatings market is fragmented with the presence of some dominant key market players. These players are holding less than 25% of the market share.
Some of the top manufacturers included in the research study
- PPG Industries
- EssilorLuxottica
- Hoya Corporation
- DuPont
- Nippon Sheet Glass & Co. Ltd.
- Edmund Optics
- ZEISS Group
- Zygo Corporation
- Brewer Science Inc.
A few major competitors in the optical coatings market are concentrating on growing their coating capacity by building new facilities in strategic market locations. Manufacturers are improving their relationships with end users to provide Optical Coatings through contract manufacturing or through partnerships with OEMs in order to increase their revenue in an effort to further strengthen their global presence. Since the bulk of market participants are situated in the United States, American companies have dominated the optical coatings business.
Also, the focus has been on the expansion of production capacities to meet the growing demand for Optical Coating. For instance,
- EssilorLuxottica fully acquired Shamir Optical Industry Ltd., which has a strong presence in ophthalmic lens technology and related products.
- Nippon Sheet Glass & Co., Ltd. collaborated with Cohda Design Limited (UK) to create new glass applications
- PPG completed the acquisition of Worwag, a manufacturer of coatings for industrial and automotive applications.
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Optical Coating Market Segmentation
By Product Type:
- AR coatings
- High Reflective Coatings
- Transparent Conductive Coatings
- Filter Coatings
- Beam splitter Coatings
- Others
By Technology:
- Vacuum Deposition
- E-beam Evaporation
- Sputtering Process
- Ion-Assisted Deposition
By Application:
- Consumer Electronics
- Lenses & Eyewear
- Solar
- Automotive
- Aerospace & Defense
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
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