Pune, India, April 26, 2022 (GLOBE NEWSWIRE) -- The global optical coatings market size was pegged at USD 13.04 billion in 2021. The market is estimated to rise from USD 14.17 billion in 2022 to USD 24.30 billion by 2029 at 8.0% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report, titled, “Optical Coatings Market, 2022-2029.”
According to the assessment, the rising footfall of thin-film optical coatings across military equipment, semiconductor technologies, solar energy and scientific equipment will augur well for the industry outlook. Technological advancements and rising demand for powerful optical products will drive market growth in the ensuing period.
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Major Players Profiled in the Report:
- Jenoptik (Germany)
- SCHOTT (Germany)
- Optimax Systems, Inc. (U.S.)
- Surface Optics Corporation (U.S.)
- GELEST, INC. (U.S.)
- Materion Corporation (U.S.)
- VAMPIRE OPTICAL COATING (U.S.)
- Reynard Corporation (U.S.)
- VIAVI Solutions Inc. (U.S.)
- PPG Industries, Inc. (U.S.)
- DuPont (U.S.)
- ZEISS International (Germany)
- Nippon Electric Glass Co., Ltd. (Japan)
- Newport Corporation (U.S.)
COVID-19 Impact
Plunge in Manufacturing and Transportation Demand Dented Growth Prospect
Industry players witnessed massive disruptions from the onslaught of the COVID-19 pandemic. Reduced demand from oil and gas, automobiles, manufacturing, transportation and energy sector did not augur well for prominent companies gearing to foster their penetration. Prominently, demand for paint plunged in the automotive sector, largely due to a dip in passenger car and commercial vehicle sales. According to IEEE Consumer Electronics Magazine, consumer technology sales were projected to be down in 2020 due to the general economic effect on many customers. Industry players are expected to count on online education, web-based events and cloud-based resources in the ensuing period.
Segments
In terms of type
- filter coatings
- reflective coatings
- anti-reflective coatings
- electrochromic coatings
- conductive coatings
Based on the end-use industry
- Telecommunication
- consumer electronics
- medical
- aerospace & defense
- transportation
As per region
- Europe
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force Analysis SWOT analysis. Quantitative and qualitative assessments have been used to provide a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
Drivers and Restraints
Bullish Demand from Telecommunication Sector to Spur Industry Growth
With a surge in optical fiber networks expansion across developing economies, the optical coatings market share could witness an upward trajectory. Optical elements have become sought-after to boost commercial revenue and reduce costs. The rising efficiency standards of thin-film optical filters will redefine the global landscape. Moreover, the rising footfall of anti-reflection coatings will bolster the investment outlook. Considering the application of optical coatings in automotive glazing for versatility, leading companies are poised to inject funds into the landscape.
Meanwhile, the adoption of the evaporation deposition process could lead to systematic failure, thereby impeding the industry growth.
Regional Insights
Asia Pacific to Provide Compelling Opportunities with Investments in Consumer Electronics
Stakeholders project Asia Pacific as a lucrative region in the wake of surging demand for consumer electronics, including cameras, cell phones, laptops, LED TVs, and cameras. Moreover, the rising footprint of video game consoles and personal computers has added fillip to the regional market growth. Asia Pacific market size garnered USD 6.04 billion in 2021 and will witness a similar trend with the rising popularity of consumer electronics.
The North America optical coatings market growth will witness a noticeable gain due to the demand for environment-friendly coatings in semiconductor and sensor applications. Additionally, rising investments from military and defense sectors will propel the demand for beam attenuators, vision cameras, and range finding. Furthermore, the rising footfall of laser systems and aerospace applications will augur well for the industry outlook.
Industry players envisage Europe as a favorable investment region, largely due to increasing privatization, liberalization and competition in the telecommunication sector. Following the application of optical coating solutions in automobile displays, car windows and headlamps, the U.K., France, Germany and Italy could witness investments galore in the ensuing period.
Competitive Landscape
Stakeholders Focus on Mergers & Acquisitions to Tap into Markets
Leading companies are slated to inject funds into organic and inorganic strategies, including technological advancements, mergers & acquisitions, product rollouts and R&D activities. Moreover, focusing on product offerings could foster a geographical footprint over the next few years.
Key Industry Development
- April 2020 – Materion Corporation announced the acquisition of Optics Balzers, AG, an industry leader in thin-film optical coatings, to expand footprint.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/optical-coatings-market-102138
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry Porters Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Optical Coating Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Optical Coating Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Anti-Reflective Coatings
- Reflective Coatings
- Filter Coatings
- Conductive Coatings
- Electrochromic Coatings
- Others
- By End-use Industry (Value)
- Consumer Electronics
- Telecommunication
- Medical
- Transportation
- Aerospace & Defense
- Others
- By Type (Value)
TOC Continued…!
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