Global Optical Coating Market size was USD 9.96 billion in 2014. It is expected to grow owing to rising consumer electronics and high-resolution display market. In addition, growing demand for green energy based power generation is expected to drive growth. Rising use of the product in the automobile industry is expected to contribute a significant share towards market development. Also, rising product use by automobile manufacturers to provide technologically innovative automobile displays and infotainment system is expected to drive demand.
Optical coatings are thin film layers which are coated on various substrates including glass, plastic, polymers and metal to improve the light transmissivity and reduce reflection. The requirement of efficient light transmission in laser and fiber optics applications is expected to propel product demand over the next seven years. Increasing popularity in construction activities coupled with rising use of optically coated glass in infrastructure development is expected to augment demand over the forecast period. However, fluctuating raw material price is expected to restrain development in the near future.
U.S. Optical Coating Market volume, by application, 2015-2022 (Kilo Tons)
Consumer electronics segment accounted for over 30.0%, of the market in terms of volume, in 2014. Rising need for new technologies coupled with the development of innovative products including optical add-on kits for iPhones and iPads is expected to propel demand for consumer electronics.
Solar application segment is expected to witness significant development owing to growing need to shift the energy mix. Rising investment to setup concentrated photovoltaic solar installations worldwide is expected to augment growth over the next seven years.
Growth in the global defense industry is expected to propel Optical Coating Market owing to rising equipment manufacturing in Asia-Pacific region coupled with increasing spending on security and surveillance by developed countries of North America and Europe.
Optical coatings including IR coatings, anti- reflective coatings are used in military applications including head missile seeker, night vision cameras, and thermal imaging. Applications including range finding and target designation use laser guns which require coatings which can operate in near-IR and mid-IR spectral range and can provide optical clarity in the presence of fog, clouds, haze and smoke.
Anti-reflective coatings segment was valued over USD 3.0 billion in 2014. Growing demand from industries including energy, construction, imaging and optics owing to rising use of the product to improve the light transmissivity is expected to propel the market over the forecast period.
Reflective coatings segment accounted for a share of over 13.0% in 2014. Growing demand for reflective coatings from industries including telecommunication, construction and defense is expected to drive the market growth.
Rising use of new technologies in the defense industry for application in lasers, range finding and target setting owing to their property to provide high intensity focused lighting. Growing use of reflective coatings in laser systems in medical equipment is expected to drive the market growth over next seven years.
North America was the largest market accounting for over 35.0% of global revenue in 2014. North America witnessed high demand on account of growing consumer demand for emerging technologies and continued spending by defense industries on improving equipment technologies.
Asia Pacific revenue was over USD 3.00 billion and is anticipated to witness significant growth owing to increasing foreign investment and industrial development. In addition, rising spending capability of consumers and rapidly growing demand for superior technology in China, India, and Japan is expected to augment development in the region.
Europe product market is expected to develop at a significant rate with extensive R&D for new innovative technology in industries including automotive, aerospace and defense. Growing influx of migrants in Western Europe and Nordic countries has led to increased need for residential infrastructure in the region. Moreover, stringent regulations for the development of energy efficient buildings are expected to propel demand over the next seven years.
Competitive Market Share Insights
Key market participants include Abrisa Technologies, Newport Corporation, Cascade Optical Corporation, Inrad optics, PPG Industries and Schott AG. Key strategies adopted by companies include new product development to create differentiation, partnerships with other firms to increase the availability of their products in the market, and technological development to improve their portfolio. In August 2015, JDSU was renamed as Viavi solutions to provide increased network and application visibility.
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