Hi, what are you looking for?
The global optical coating market size was valued at USD 17.0 billion in 2021 is expected to reach USD 37.5 billion by 2030, registering a CAGR of 9.2% over the forecast period.
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.
Gather more insights about the market drivers, restrains and growth of the Global Optical Coating Market
The rapid growth of the solar PV market, driven by the increasing focus on the generation of clean energy, and rising demand for consumer electronics is expected to fuel the market growth over the forecast period. 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 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, architecture, and others owing to the stalled manufacturing activities, restrictions in supply, and transportation, and economic slowdown across the globe.
Optical Coating Market Segmentation
Based on the Product Insights, the market is segmented into anti-reflective coatings, reflective coatings, filter coatings, conductive coatings, electrochromic coatings and others
Based on the Application Insights, the market is segmented into consumer electronics, solar, medical, architecture, aerospace & defense, automotive, telecommunication and others
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Most of the key players operating in the 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 coating market include:
Order a free sample PDF of the Optical Coating Market Intelligence Study, published by Grand View Research.
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media Contact Company Name: Grand View Research, Inc. Contact Person: Sherry James, Corporate Sales Specialist – U.S.A. Email: Send Email Phone: 1888202951 Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States City: San Francisco State: California Country: United States Website: https://www.grandviewresearch.com/industry-analysis/optical-coatings-industry
Russian troops abandoned positions near Kharkiv in haste when Ukrainian forces pushed them back towards the border - Copyright AFP PRAKASH MATHEMAOn a small...
Russia's Gazprom has informed Finland on Friday it will halt flows of natural gas from Saturday morning.
Health authorities in Europe, the U.S. and Australia are investigating a recent outbreak of monkeypox cases.
An Iraqi rides a donkey across the dried out lake bed that is all that is left of Lake Hamrin, in normal years a...
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking.