Optical Coatings Market Size, Share & Trends Report

Optical Coatings Market Size, Share & Trends Analysis Report By Product (Anti-reflective, Reflective, Filter, Conductive, Electrochromic), By Application, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-740-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 232

Report Overview

The global optical coatings market size was valued at USD 14.97 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027. Recent technological advancements in the field of optical deposition techniques and fabrication, coupled with rising demand for efficient optical devices in end-use applications, are expected to drive the market over the forecast period. Optical coatings are being increasingly used in numerous applications, including architecture, consumer electronics, solar panels, automotive, medical, telecommunication, and military and defense. The rapid growth of the solar PV market, driven by increasing focus on the generation of clean energy, and rising demand for consumer electronics are expected to fuel the market growth over the forecast period.

The U.S. optical coatings market size

Reflective coatings are mainly used in construction, telecommunication, and space applications. The growing use of reflective coatings in green buildings for heat retention and reducing energy consumption is expected to drive its demand over the forecast period. In addition, increasing usage of handheld consoles, coupled with rising demand for portable consumer electronics, is expected to propel the market growth over the forecast period.

Price volatility of raw materials is one of the major factors affecting the prices of optical coatings. It leads to a decrease in profitability for manufacturers and increases the market costs of optical coatings, thus restraining market growth. Although prices of metals have witnessed a declining trend over the past few years, sudden variations in prices can lead to a negative impact, thus affecting the market growth.

Changes in the price of precious metals used for high-end applications, especially gold and platinum, significantly affect the overall cost of the application, thus impacting the demand for optical coatings. Furthermore, the recent outbreak of COVID-19 is hampering the demand for optical coatings in various applications, including automotive, telecommunication, solar, aerospace and defense, and architecture owing to the stalled manufacturing activities, restriction in supply and transportation, and economic slowdown across the globe.

Product Insights

The anti-reflective product segment led the market and accounted for more than 30.0% share of the global revenue in 2019. Anti-reflective coatings are thin-film optical coatings that consist of multiple layers of coatings with different refractive indexes between each layer. The thickness of every layer is designed to cause self-extinguishing interference for the light beam reflected by the surface. This makes it suitable for magnifying lenses, display screens, camera lenses, and eyeglasses, wherein they are used on glass and plastic substrates. Growing demand for anti-reflective coatings for the construction of photovoltaic solar panels, automotive displays, windows, and GPS navigation systems is expected to propel the growth of the market over the forecast period.

The conductive coatings product segment is expected to witness significant growth over the forecast period owing to large-scale usage in solar panels. Rising emphasis on the development of alternate energy sources, coupled with significant investments in solar energy generation by countries, such as India, the U.S., and China, is likely to propel the segment growth in the coming years.

Furthermore, increased usage in display windows, solar panels, heaters, LCD fabrication, heads-up display, shielding for radio frequency interference, LED displays, and instrument display windows are anticipated to support the optical coatings market growth over the forecast period.

Application Insights

The consumer electronics application segment led the market and accounted for more than 33.0% share of the global revenue in 2019. Rapidly growing demand for smartphones and rising consumer disposable income are anticipated to propel the segment growth over the forecast period. Furthermore, technological advancements in the field of smart televisions and smart consumer devices, including smartwatches and smartphones, are anticipated to positively affect market growth over the forecast period. In addition, increased demand for multipurpose devices and a growing number of key players are expected to propel the demand for optical coatings over the forecast period.

Infrared and anti-reflective coatings are widely used in the electronics industry owing to rising demand for superior optical display and impact resistance properties. The growing semiconductor industry, coupled with technological advancements, is expected to augment the demand for these optical coatings over the forecast period. However, reducing discretionary spending amid COVID-19 across the globe is impacting the demand for consumer electronic products. This, in turn, is further anticipated to hamper the demand for optical coatings in consumer electronics.

Global optical coatings market share

In the automotive industry, it is used in speedometer display owing to high impact resistance and abrasion resistance. Rising use of optical coatings in numerous automobile components, including gear knob top, car windows, windshield, and headlight lenses, is anticipated to fuel the growth of the segment over the forecast period. In addition, UV resistant and abrasion-resistant coatings are used for components in the automobile industry.

Regional Insights

North America dominated the market and accounted for over a 37.0% share of the global revenue in 2019. The growing solar industry in the U.S. and increased focus on developing domestic industries are driving the demand in this region. An increase in the U.S. defense budget is creating a strong growth potential for reflective coating products in the aerospace and defense segment.

North America is a major manufacturing hub for mid-scale and small-scale medical equipment companies, which is expected to propel the demand for optical coatings over the forecast period. In addition, the strong presence of industries, like instrumentation, microelectronics, biotechnology, and software development, and advancements in the medical devices sector will ultimately lead to increased demand for optical coatings over the forecast period. In addition, constantly rising patient population on account of the outbreak of COVID-19 at the community level is projected to propel the demand for medical components, thereby boosting the demand for optical coatings in the U.S.

Asia Pacific is expected to witness significant growth over the forecast period. The rising youth population, coupled with the growing demand for consumer electronic products, such as mobiles, tablets, cameras, LED screens, video games console, and personal computers, is expected to drive the regional market over the forecast period.

Key Companies & Market Share Insights

Most of the key players operating in this market have integrated their raw material production and distribution operations to maintain product quality and expand regional outreach. This provides companies a competitive advantage in the form of cost benefits, thus increasing their profit margin. Companies focus on research and development activities to develop new products to sustain market competition and changing end-user requirements. Research activities focused on new materials that combine several properties are projected to gain wide acceptance in the industry in the coming years. Some of the prominent players in the optical coatings market include:

  • Alluxa, Inc.

  • Cascade Optical Corporation

  •  Inrad Optics

  • Schott AG

  • PPG Industries Inc.

  • Chroma Technology Corp

  • Optical Coatings Japan

  • Viavi Solutions

  • Schott AG

  • Abrisa Technologies

  • Berliner Glas

Optical Coatings Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 15.4 billion

Revenue forecast in 2027

USD 21.7 billion

Growth Rate

CAGR of  5.0% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in tons, revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue and volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

The U.S.; Canada; Mexico; Germany; The U.K.; France; Italy; Spain; Netherlands; Poland; Norway; China; India; Japan; Singapore; Malaysia; Indonesia; Australia;  South Korea; Thailand; New Zealand; Brazil; Argentina; Colombia; Saudi Arabia; South Africa; UAE; Qatar; Egypt

Key companies profiled

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

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global optical coatings market report on the basis of product, application, and region:

  • Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Anti-reflective Coatings

    • Reflective Coatings

    • Filter Coatings

    • Conductive Coatings

    • Electrochromic Coatings

    • Others

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Consumer Electronics

    • Solar

    • Medical

    • Architecture

    •  Aerospace & Defense

    • Automotive

    • Telecommunication

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • The U.K.

      • Spain

      • Netherlands

      • Poland

      • Norway

    • Asia Pacific

      • China

      • India

      • Japan

      • Singapore

      • Malaysia

      • Indonesia

      • Australia

      • South Korea

      • Thailand

      • New Zealand

    • Central & South America

      • Brazil

      • Argentina

      • Columbia

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • UAE

      • Qatar

      • Egypt

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