Optical Coatings Market 2018 report focuses on the major drivers
and restraints for the Global key players. It also provides analysis of the
market share, segmentation, revenue forecasts and geographic regions of the
market.
Construction sector is probable to witness fastest
growth particularly in architectural glass applications, thereby promoting
optical coatings market by 2024. As per the Leadership in Energy and
Environmental Design (LEED) standards for green buildings, through the thermal
insulation, optical coatings play a vital role in dropping energy consumption
and offers effective cooling. However, instability in raw material prices on
account of the regulations concerning the VOC emissions might hamper the market
growth to some extent in the next 7 years.
Global Optical Coatings Market size is expected to
grow with a high CAGR by 2024. The market growth will be propelled by the
robust demand from the end-user sectors including: consumer electronics,
transportation, healthcare and defense.
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Optical
coating involves deposition of thin layers on optical component in a way that
the interference modifies reflection & transmission characteristics of the
system. These coatings have been highly desirable in order to secure the optic
against unfavourable environmental circumstances. Optical coatings will have
significant demand in camera lens, corrective lenses, solar cells, etc. Growing
demand for high-resolution displays in smartphones, tablets, e-readers and
other applications will propel the market size by 2024.
Based on the
technology, optical coatings market can be divided into: sputtering process,
e-beam evaporation, ion-assisted deposition (IAD), vacuum deposition and
others. The mounting demand for cost-effective film coatings in laser, defense
and biomedical industries will boost the share sputtering process in the
optical coatings market by 2024. Vacuum deposition held the massive share in
2016. The technology will have substantial demand for a range of applications
in healthcare, transportation, packaging and defense in the coming years.
Based on the
product types, the market segmentation can be viewed as: anti-reflective (AR)
coatings, filter coatings, beamsplitter coatings, high-reflective coatings,
transparent conductive coatings, electrochromic (EC) coatings and others.
Antireflection coating held the highest share in 2016 on account of its vast
applicability in consumer electronics for- power, display units,
microprocessors, memory, etc. The unique characteristics including: improved
transmission power, high efficiency, back glare reduction and better picture
quality, the segment is likely to have robust demand in construction sector in
the near future.
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According to
the end-user segments, global optical market is segregated as: consumer
electronics, construction, medical, defense, solar, transportation and others.
Consumer electronics contributed the highest share in 2016 in global optical
coatings market. The massive share was ascribed to the diverse applications
including: optical storage devices, PCB coating, ultra-thin cellular phone
keypads, LED lighting, florescent lighting, etc.
Rising demand
for thermally-controlled coatings especially for solar panel, sensitive
detectors, solar cells will have a positive influence on the growth of the
product for solar industry. Solar applications are estimated to observe the
fastest growth in the global optical coating market during the forecast
timespan. Cost-efficient coatings such as: filter and anti-reflective coatings
shall be the most desirable types of optical coatings in solar applications.
Solar power has been displacing coal and various other sources of energy in the
recent decade. The cost of electricity from solar PV was about 1/4th of the
same in 2009 and will likely fall 66% by 2040. Solar capacity increments by the
U.S. (14.7 GW), Japan (8.6 GW) and China (34.5 GW) in 2016 present brighter
aspects for optical coatings industry in solar applications by 2024.
In
2016, North America region was stood as the largest market for optical
coatings. Presence of enormous product manufacturers, growing demand of high
reflective, filter, AR coatings in the U.S. were the factors promoting the
market growth. However, the robust growth trends featured by the regional
consumer electronics sector depict fastest growth trend in Asia Pacific optical
coatings market during the forecast timespan.
Highly
fragmented optical coatings market will be subjected to intense degree of
industry rivalry throughout the forecast period. The market leaders have been
engaged in developing product components with low production cost and unique features.
Key industry players include: DuPont, ZEISS Group, PPG Industries, Nippon Sheet
Glass & Co, Abrisa Technologies, Newport Corporation, etc. Technological
progressions in developing optical coatings fabrication process will pose as
the key performance indicators in this industry by 2024.
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