Global Thin Film Coatings Market: Introduction
- Thin film coatings are applied on optical surface to modify the transmittance and reflectance properties of the substrate on which these thin film coatings are applied. Thin film coatings are deposited by various depositing techniques, such as PVD (Physical Vapor Deposition), CVD (Chemical Vapor Deposition), and sputtering, among other techniques. Thin films coatings are coated on the substrate to increase their insulation or conduction, and provide protection from light or create a reflective surface.
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- Thin film coatings are widely used in variety of applications such as optical devices, mirrors, semiconductor devices, magnetic media, and food wrap to provide a specific performance characteristic due to their physical and chemical attributes such as prevention of corrosion, antistatic properties, and adhesion properties.
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Key Drivers of Global Thin Film Coatings Market
- Increasing demand for flexible display & batteries due to rising technological advancements in consumer electronics is anticipated to grow the demand for thin film coatings as these are used to form optical coatings on these electronic devices.
- Rising application of thin film coatings in photovoltaic solar cells, electrical, and semiconductors to increase their efficiency is likely to boost the demand for thin film coatings.
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- Vast R&D and development of fabrication and material technologies are expected to have a positive impact on the industry. Growing demand of optical coatings for biomedical, genetic analysis, micro-optical systems, and sensors to provide protection from environment is expected to further drive the thin film coatings market.
- Growing demand for optical coatings for biomedical, genetic analysis, micro-optical systems, and sensors is expected to further drive the thin film coatings market.
- Anti-reflective coatings held majority market share of thin film coatings market owing to increasing utilization of the product as anti-glare layer in kiosk displays, eyewear, binoculars, and video games. This is expected to fuel the segment growth over the forecast period.
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Energy Segment to Dominate Global Thin Film Coatings Market
- Increasing demand for thermally-controlled coatings for sensitive detectors, solar panel, solar cells will have a favorable influence on the growth of the product for solar industry. Solar applications are estimated to observe the fastest growth in the global thin film coatings market during the forecast period. Economic coatings such as: filter and anti-reflective coatings shall be the most desirable types of thin film coatings in solar applications. Solar power has been replacing coal and various other sources of energy in the recent decade.
Global Thin Film Coatings Market: Restraints
- Increasing cost of raw materials along with huge initial investment for setting up of manufacturing facilities is likely to restrain the market growth.
Asia Pacific Expected to Hold Significant Share of Global Thin Film Coatings Market
- In terms of region, the thin film coatings market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia is a dominant player in the global thin film coatings market compared to that of markets in other regions. This can be attributed to rising focus on solar energy production in developing countries owing to the growing significance of alternate sources of energy is expected to propel the regional product demand of thin film coatings .
- Europe holds a significant share in thin films this can be attributed to increasing demand of ultraviolet coating and anti-reflective coatings from automobile industry.
- Strict regulations imposed by the government to build energy efficient buildings in the Middle East and Africa is anticipated to propel the thin film coatings market demand in the next few years.
Key Players Operating in Market
Key players operating in the market include:
- MATERION CORPORATION
- IDEX CORPORATION
- TORR SCIENTIFIC LTD
- REYNARD CORPORATION
- OERLIKON BALZERS
- ULVAC-PHI, INC
- EP LABORATORIES, INC
- THINFILMS INC
- MICRO POINT PRO LTD (MPP)
- PRECISION OPTICAL
- IHI HAUZER B.V
- CVD EQUIPMENT CORPORATION
- SHIN-ETSU CHEMICAL CO., LTD.