The Global Optical Coatings Market has been rising continually; mainly due to the recent emergence of specific applications of these coatings in prominent end-use industries such as automotive, electronics, and telecommunication. Increasing production and sales, especially in the automotive industry, is a key force driving the growth of the market. Moreover, advancements in coating technologies escalate the market on the global platform.
According to a leading research firm - Market Research Future (MRFR), the Global Optical Coatings Market is poised to reach over USD 11,700 MN by the end of 2023. MRFR, in its recently published analysis, also asserts that the market would register a significant CAGR throughout the forecast period (2018 – 2024). In 2017, the market had generated a value of USD 7,964.8 MN.
Additionally, increased the production of these coatings over the recent years due to the augmenting demand for high-end Optical Coatings is propelling the market growth, majorly. Besides, growing numbers of manufacturers and substantial investments by them for the development of advanced optical coating technologies foster the growth of the market.
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On the other hand, volatility in the prices and demand-supply gap in the raw materials required to produce optical coatings impede the growth of the market. Nevertheless, technological advancements in the Optical Coating fabrication would support the market growth, increasing the rapid adoption for these coatings in the manufacturing sector.
Global Optical Coatings Market - Competitive Analysis
The well-established Optical Coatings Market appears to be highly competitive due to the presence of many key players. Mergers & acquisitions, innovation, and brand reinforcement remain key trends of these players. Those players compete on innovation, product features, quality, cost, and financial stability. To maintain their market position, players focus on developing their product portfolio utilizing advanced technologies.
Players are also investing hugely in internal R&D and, most of all, in acquiring other firms. Prominent manufacturers of Optical Coatings are targeting to invest more in technology and to bring betterment in their already existing products. Rising government funding is motivating key companies to manufacture to improved coatings that match the changing trends and needs of the patrons.
Players leading the Global Optical Coatings Market include Thorlabs Inc., Edmund Optics Inc, Angstrom Engineering Inc, Abrisa Technologies, Optiforms Inc, Carl Zeiss Jena GmbH, MKS Instruments, Inrad Optics, Reynard Corporation, Optics Balzers AG, PPG industries, AMETEK, DowDuPont Inc, II-VI Incorporation, Optical Coatings Japan, and Berliner Glas, among others.
Industry/ Innovation/ Related News
April 18, 2019 --- PPG Industries (the US), a leading global supplier of paints & coatings and optical products & specialty materials announced the completion of its acquisition of Hemmelrath (Germany), an automotive coatings manufacturer. Hemmelrath supplies its coating product to many automotive plants worldwide each year. The acquisition is expected to expand PPG’s automotive coatings range.
Recently, PPG automotive had devised a new form of coating for car’s touchscreen infotainment systems. PPG claims that such smudge-resistant coatings could be expected from all of the significant carmakers soon. Hemmelrath had increased its investments in the expansion of its subsidiaries in the USA and China, aiming to manufacture the entire range of its products in the key automotive regions.
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Global Optical Coatings Market –Segments
The Report is segmented into five market dynamics to widen the scope of understanding,
By Type: Anti-Reflective Coatings, High Reflective Coatings, Transparent Conductive Coatings, Partial Reflective Coatings, Beam-Splitter Coatings, Electrochromic Coatings, and Filter Coatings, among others.
By Coating Method: Vacuum Deposition/ Evaporative Deposition and Sputter Deposition, among others.
By Coating Materials: Metallic Materials and Dielectric Materials, among others.
By End-use Industry: Electronics & Telecommunication, Automotive, Aerospace & Defense, Solar, and Healthcare, among others.
By Regions: North America, Europe, APAC, and the Rest-of-the-World.
Global Optical Coatings Market - Regional Analysis
The Asia Pacific region leads the Global Optical Coatings Market with the largest market share. The presence of many notable players manufacturers is impacting the growth of the regional market, positively. Also, factors such as the constant support for R&D activities from the public and private entities foster the regional market growth, bringing significant advancements in these coatings.
The rise in demand for high-quality Optical Coatings at affordable prices has increased the production capacities, encouraging manufacturers to invest more in the development of advanced coatings. APAC countries such as China, India, South Korea, and Japan that are witnessing economic boom, majorly contribute to the market growth in the region.
The region has long been fascinating foreign investors due to its raw material advantage and the cost-competitive workforce. That as a result propels the regional market growth, increasing the numbers of production plants.
North America accounts for the second-largest market for Optical Coatings and is further expected to grow at a considerable CAGR during the projected period. Factors such as the presence of major players and the adoption of advanced coating technology boost the growth of the regional market. The US and Canada contribute to the Optical Coatings Market in the region, majorly. Furthermore, increasing government support for research & development activities drive the regional market.
The Optical Coatings Market in the European region is emerging as a promising market globally. The market is expected to grow at a substantial CAGR over the forecasted period. The rapid adoption of advanced Optical Coatings is a key factor driving the growth in the regional market. The economy in the region is witnessing a constant rise, which alongside, the rapid industrialization & urbanization pushes up the market growth.
There has been a significant shift in the consumption patterns due to the improving standards of leaving. Moreover, the well-established and growing manufacturing sector is propelling the growth of the regional Optical Coatings Market. The proliferation of consumer electronic devices and automotive production are other important factors encouraging regional market growth.
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