According to the latest report by IMARC Group, titled "Optical Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global optical coatings market reached a value of US$ 13.7 Billion in 2021. Optical coatings represent a multilayer thin film composed of various dielectric materials, including oxides, metals, and rare earth materials. These substances are deposited on the surface to modify the element transmission and light reflection properties of the optical system. Optical coatings aid in protecting optics from extreme environmental conditions by controlling the reflection and transmission of light through interference. Along with this, they assist in minimizing Fresnel reflections, preventing flare, and optimizing reflectance in a broad range of wavelengths. As a result, optical coatings are extensively used in motion detectors, photographic systems, thin film transistors (TFT), rearview mirrors, digital signage, and headlight lens devices. Currently, they are commercially available in different coating layers and thicknesses.
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Global Optical Coatings Market Trends:
One of the key factors driving the global optical coatings market growth is the substantial expansion in the electronics industry and the increasing sales of several consumer electronic products. Optical coating is used for allowing semiconductor wafers to withstand high-temperature gradients and heat transfer in thermal processing in such devices. In line with this, the extensive utilization of infrared and anti-reflection coatings in targeting night-vision and thermal cameras, head-mounted missile seekers, and other military and defense applications is acting as another growth-inducing factor. Additionally, the shifting inclination of automobile manufacturers toward optical coatings for designing global positioning systems (GPS), windows, and automotive displays to enhance the anti-reflective and filtering capabilities of the vehicle is contributing to the market growth. Moreover, the rising environmental concerns have led to the large-scale incorporation of optical coatings in solar photovoltaics (PV) modules to produce clean energy as an effective alternate power source. Apart from this, the growing employment of optical coatings in green buildings for heat retention and reducing overall energy consumption is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 21.5 Billion by 2027, growing at a CAGR of 7.50% during 2022-2027.
- Based on the type, the market has been segregated into anti-reflective, reflective, filter, conductive, electrochromic, and other coatings.
- On the basis of technology, the market has been segmented into vacuum deposition, e-beam evaporation, sputtering process, ion-assisted deposition, and others.
- Based on the end use industry, the market has been categorized into electronics and semiconductor, aerospace and defense, automotive and transportation, telecommunications, construction and infrastructure, solar power, healthcare, and others.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Abrisa Technologies, Artemis Optical Limited, Carl Zeiss AG, DuPont de Nemours Inc., Edmund Optics Inc., Inrad Optics Inc., Materion Corporation, Newport Corporation (MKS Instruments Inc.), Nippon Sheet Glass Co. Ltd., PPG Industries Inc., Reynard Corporation, Schott AG and Zygo Corporation (Ametek Inc.).
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