Antireflection Coatings Market to Garner USD 8.31 billion, will Flourish with Incessant Demand from Automotive, and Consumer Electronics Industries -Exactitude Consultancy

Luton, Bedfordshire, United Kingdom, March 02, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Anti-Reflective Coatings Market.

"The global antireflection coatings market is expected to grow at 7.6% CAGR from 2023 to 2029. It is expected to reach above USD 8.31 billion by 2029 from USD 4.3 billion in 2022."

Anti-reflective coatings refer to optical coatings that are formulated to minimize reflections from an optical surface. These dielectric coatings help regulate temperature and humidity as well as the transfer and absorption of UV, visible, and near-infrared radiations. These coatings enhance visual sharpness and block the entry of blue light and ultraviolet rays. They decrease reflection, increase transmission, and improve output when used on lenses, reflectors, or other optical surfaces by regulating the reflexive index. They also enhance clarity and visibility for sophisticated imaging systems, including binoculars and solar panels. Anti-reflective materials coated on eyewear offer a clear vision while being scratch, dust, and waterproof.

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Anti-Reflective Coatings Market Recent Developments

• February 2022: Zygo Corporation, a company engaged in manufacturing optical metrology and optical component, announced the opening of a new office in Italy, building upon its extensive network of offices and partnerships throughout Europe for expanding its business, including anti-reflective coatings.
• February 2021: Viavi Solutions announced establishing a new manufacturing facility in Chandler, Arizona, to meet the growing demand for optical security and performance products (OSP) across the United States.

Anti-reflective Coatings Market: Growth Drivers

• Anti-reflective coatings are applied on Yttrium aluminum garnet (YaG), glass, sapphire, and quartz, among many other substrates. Video glasses, kiosk displays, telescopes, binocular lenses, and riflescopes all use these coatings. In the next few years, the global anti-reflective coatings market is likely to be propelled by rising demand from the telecommunications industry as well.
• The anti-reflective coatings market is predicted to exhibit strong growth prospects in the years to come. High demand from the electronics industry coupled with steady expansion of the regional solar power & automotive industries is projected to drive the regional market in the near future.

Increasing demand from the eyewear application will motivate market growth.

Anti-reflective glasses are a low-cost option for reducing glare from computer screens, televisions, flat panels, and other electronic displays. To reduce glare and provide low reflectivity, anti-reflective coatings are used. Displays become easier to read as a result, eye strain is reduced, and visual insight improves. Progressive lenses have grown in popularity as more people suffer from presbyopia, a condition in which the lens of the eye stiffens with age, making it difficult to read at close range. KITS announced in March 2021 that it would begin offering ultra-thin digital progressive lenses to customers on all of its web properties. These product launches increased the demand for anti-reflective coatings. According to the US department of health and human services, near-sightedness affects approximately 23.9 percent of the population over the age of 40 (approximately 34 million people) in the United States. According to WHO, approximately 2.2 billion people worldwide have a near or distance vision impairment as of October 2021. This figure is likely to increase demand for respective eye lenses while addressing these impairments, which will increase demand for anti-reflective coatings in the country.

One of the current market growth trends is the increased adoption of advanced technology in the field of anti-reflective coatings.

The increasing use of anti-reflective coatings in the aerospace industry is expected to be a major market trend. The government’s increased investment in the aerospace industry to maintain aircraft components and increase the shelf-life of the structure is expected to fuel the market growth of anti-reflective coatings in the aerospace industry. This expansion in the aerospace industry can also be attributed to rising tourism. The growing use of anti-reflective coatings in the aerospace industry is expected to be a significant market trend. The government’s increased investment in the aerospace industry to maintain aircraft components and extend the structure’s shelf life is expected to drive market growth for anti-reflective coatings in the aerospace industry. This growth in the aerospace industry can also be attributed to increased tourism.

Report Scope:

Antireflection Coatings Market Players

The antireflection coatings market key players include Optical Coatings Japan Rodenstock GmbH, Essilor International, Carl Zeiss AG, E. I. du Pont de Nemours and Company, Koninklijke DSM N.V., Honeywell International PPG Industries, Hoya Corporation, Viavi Solutions, Inc.

For corporate expansion, these key leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Moreover, these participants are substantially spending in product development, which is fueling revenue generation.

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Key Market Segments: Antireflection Coatings Market

Antireflection Coatings Market by Technology, 2020-2029, (USD Billion), (Kilotons)

• Vacuum Deposition
• Electronic Beam Evaporation
• Sputtering
• Others

Antireflection Coatings Market by Application, 2020-2029, (USD Billion), (Kilotons)

• Eyewear
• Electronics
• Solar Panels
• Automobile
• Others

Key Findings of Market Report

• The global market is driven by increasing use of anti-reflective coatings in solar, eyeglasses, electronics, and automobiles, among other applications. The eyeglass industry is now one of the leading end users of anti-reflective coatings, and the trend is likely to continue in the upcoming years. Anti-reflective coatings are in great demand in the market for products with strong light transmission and comfortable eyewear and contact lenses.
• Anti-reflective coatings are also used extensively in the electronics industry. The electronics sector is a significant end consumer of the market due to flourishing smartphone industry, rising demand for flat panel displays, and usage of anti-reflective coatings during photolithography in semiconductor production. The automotive industry has evolved as a major end-use industry in the global anti-reflective coatings market due to growing usage in products such as high-transmitting windows and dashboards in a range of vehicles.
• In 2022, North America held about 41% of the global anti-reflective coatings market. Due to the sheer presence of well-established solar power, eyewear, and automotive industries, the Europe anti-reflective coatings market has seen consistent development in recent years.

Market Dynamics

• Increase in Demand from Solar Power Industry to Boost Anti-Reflective Coatings Market

The solar power production and telecommunications sectors' growing demand is anticipated to be the main driver of growth for the anti-reflective coatings market. Optical thin film coatings called anti-reflective coatings work to cut down on shadows from a variety of objects. These coverings decrease light loss due to reflectance, increasing penetration. Nearly 4% of light striking glass at a perpendicular angle is wasted due to reflection at the spot where glass and air come into contact. With an increase in the light's impact angle, more light is wasted in these situations. Light that is reflected is lost light, particularly for solar cells.

• Increase in Anti-Reflective Coating Usage in a Variety of End-Use Businesses

The worldwide market is being driven by the expansion of anti-reflective coating uses in products like eyeglasses, solar, cars, and electronics. The eyeglass industry is currently the largest user of anti-reflective coatings and is anticipated to continue ranking among the market's most potential end-use segments in the coming years. The market shows a desire for anti-reflective coatings for lenses and spectacles with comfortable frames and high light transmission.

FAQ

• What is the worth of global antireflection coatings market?

• What is the size of the North America antireflection coatings industry?

• What are some of the market's driving forces?

• Which are the top companies to hold the market share in antireflection coatings market?

• What is the leading application of antireflection coatings market?

• Which is the largest regional market for antireflection coatings market?

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