Global Optical Coating Market is segmented By Technology (Ion-Assisted Deposition Technology, Vacuum Deposition Technology, E-Beam Evaporation Technology, Sputtering Process), By End-Use Industry (Optical Communication/Telecommunication, Medical, Infrastructure, Electronics & Semiconductor, Transportation, Military & Defense, Solar), By Type (Transparent Conductive Coatings, Electrochromic Coatings, Beamsplitter Coatings, High Reflective Coatings, AR Coatings, Filter Coatings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Optical Coating Market Overview
[200 pages] Global Optical Coating by DataM Intelligence estimates the market to grow at a CAGR of 9% during the forecast period 2024-2031. Demand from construction industry, Telecommunication and Defence industries in Asia Pacific is rising. Competitive rivalry intensifies with Artemis Optical Ltd, Zeiss Group, Reynard Corporation and others operating in the market.
An optical coating is made of one or more thin layers of material deposited on an optical component such as a lens or mirror to change how the optic reflects and transmits light. More complex optical coatings exhibit high reflection over some wavelength ranges while being anti-reflective over others, allowing the fabrication of dichroic thin-film optical filters.
Optical Coating Market Summary
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Metrics |
Details |
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Market CAGR |
9% |
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Segments Covered |
By Technology, By End-Use Industry, By Type and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
Asia Pacific |
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Optical Coating Market Dynamics
Increasing demand for renewable energy applications is expected to boost the optical coatings market.
There has been an increasing demand for the use of renewable energy sources for day-to-day and industrial applications. For example, Anti-reflective coatings are being used in solar cells and other solar equipment. The growing demand for use of solar energy will definitely increase the demand for anti-reflective coatings. For instance, in 2020, solar energy installations in USA accounted for 43 percent of all new electric capacity added to the grid, the highest share in history and the second year in a row that solar added the most generating capacity to the grid. In the Asia-Pacific region, due to a consistent increase in population year by year, energy companies are looking towards implementing renewable energy applications in order to meet the growing demand for energy and fuel consumption. For example, In 2019, Asia-Pacific’s solar energy capacity was approximately 330 thousand megawatts, a staggering 6000% increase from 2010. This increase in use of renewable energy sources is expected to boost the demand for manufacturing more Anti-reflective coatings and other optical coatings that can be implemented in renewable energy applications.
Technological advancements in the development of optical coating products.
Over the years, many technological advancements have been made in the optical coatings market that has improved their quality. For example, optical coatings have become crucial in the development of quality solar power concentrators, which are to be used for space applications. To improve the efficiency of the solar power concentrators, the Boeing High Technology Center investigated various methods for developing optical coatings that shielded ENTECH's DC93-500 silicone Fresnel lenses from the harsh space environment. In further advancements, Researchers from the University of Rochester and Case Western Reserve University described a new class of optical coatings known as Fano Resonance Optical Coatings (FROCs) that can be used on filters to reflect and transmit colors with exceptional purity. These could further be used to separate thermal and photovoltaic bands of the solar spectrum. Technological advancements like these are expected to boost the demand for optical coatings.
Restraints:
Factors restraining the Optical coatings market include High R&D costs and the fluctuating volatility of the raw materials that are needed to manufacture optical coatings.
COVID-19 Impact on Optical Coating Market
COVID-19 pandemic has affected various industries on a global scale, including the Optical coatings market. Due to the restrictions placed by the governments of many countries on travelling, supply chain disruptions have occurred and on a whole the transport sector has been negatively affected. The demand for Optical coatings, that are used in transport related applications too, has been affected due to this. In the energy sector, the household demand for solar power concentrators has increased as they look towards using renewable energy sources in their daily lives. Due to this, a slight increase in demand for optical coating products has occurred.
Optical Coating Market Segmentation Analysis
The Global Optical Coating Market is segmented By Technology, By End-Use Industry, By Type and By Region.
By Type
The Global Optical Coatings market by type is segmented into AR Coatings, Filter coatings, Electrochromic coatings, Beamsplitter coatings, Transparent Conductive coatings and High Reflective Coatings
High Reflective Coatings are used to minimize loss while reflecting lasers and other light sources. HR coatings contributed to the majority market share of the global Optical Coatings market in 2019 and is expected to grow during the forecast period. High reflective coatings (HR), also increase surface reflectance and can produce mirrors that reflect nearly all of the light that falls on them within a given wavelength range. The incidence angle of the light has an effect on HR coatings. When used at angles other than normal incidence, the reflective range narrows and becomes polarisation dependent. This effect can be used to create polarising coatings for light beams. HR coatings for laser applications are available from various companies. According to data, global laser sales increased between 2016 and 2021. Global sales of lasers are estimated to be worth at least 18 billion U.S. dollars in 2021. For example, the market value of dental lasers in South America was estimated to be 18.24 million US dollars in 2019 and would rise to approximately 23 million US dollars during the forecast period. Since the High Reflective coatings form a crucial part of laser and laser equipment, they are expected to be in high demand during the forecasting period.
By Region
The Global optical coatings market by region is segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Global Optical Coating Market Geographical Share
Due to largest consumption from countries such as China and India, the Asia Pacific region dominated the global optical coating market in 2019 and is expected to hold the largest market size over the forecast period. According to data, in 2018, the total global market volume of anti-reflective coatings was approximately 1.3 billion square metres, with the Asia-Pacific region accounting for the largest market share, with approximately 1000 million square metres. Rising applications in various end-user industries are expected to grow in this region during the forecast period. The rapidly expanding Asian construction industry is likely to contribute to the growth of these coatings. The Asia-Pacific region had the largest global paint and coatings market in 2019, with a market value of approximately 78 billion US dollars. According to data, India's construction industry was valued at over 2.7 trillion Indian rupees in 2020 and is expected to grow during the forecast period. The construction industry in China too, has been growing steadily since the last decade and is expected to be valued at over 3.8 billion US dollars by 2025, according to data. Furthermore, the Asia-Pacific region is rapidly developing in a variety of sectors, particularly solar, telecommunications, and defence, thus providing opportunities for various optical coatings. The Asia Pacific region serves as a major hub for Electric Vehicles. For instance, two-wheelers were the most popular type of electric vehicle sold in India in fiscal year 2021, accounting for approximately 144 thousand units. The four-wheeler EV segment also expanded with a minor but significant 1% increase in sales. According to research, the Chinese government has decided to increase EV production to 2 million per year by 2020, and 7 million per year by 2025. This is expected to boost the demand for optical coatings market in the Asia-Pacific region during the forecast period.
Optical Coating Market Companies and Competitive Landscape
The Optical Coating market is fragmented, with numerous key players. Newport Corporation, Artemis Optical Ltd, II-VI Optical Systems, Zeiss Group, Nippon Sheet Glass Co., Ltd, Reynard Corporation, Dupont, Abrisa Technologies, Inrad Optics, Inc., and PPG Industries are just a few of them. They focus on adopting strategies such as mergers & acquisitions, product innovations and product launches in order to ensure that the Optical coatings market stays competitive.
For example, Precision Glass & Optics announced in March 2019 that they had successfully installed a new optical monitoring system, the SL-2012A SpectraLock from Eddy Company. Face International debuted Evergreen® Spectral TM, a patented coating technology, in 2019.
Company Profile: Beneq
Overview: Beneq is a Finnish company founded by Sampo Ahohen in 2005. The company provides contract coating services such as research and development, as well as production services such as processing and post-processing.
Product Portfolio: Beneq specializes in creating atomic layer deposition (ALD) and aerosol coating technologies, nAERO and nHALO, for high-volume industrial production and research and development. It also focuses on functional coatings and thin films equipment and technology.
Recent Developments:
1) In May 2021, Beneq opened a new wholly owned subsidiary in Japan. The local team comprises of experienced sales, marketing and engineering professionals from semiconductor and other ALD customer markets.
2) Beneq announced a strategic collaboration with E+R in April 2021 to design and commercialize innovative roll-to-roll ALD systems for R&D and volume production.
Why Purchase the Report?
- Visualize the composition of the Optical Coating in terms of various types of type, end-use industry and their technologies highlighting the key commercial assets and players.
- Identify commercial opportunities in the Optical Coating market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of Optical Coating market-level 4/5 segmentation.
- A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The Optical Coating report would provide access to an approx., 61 data tables, 60 figures, and 200 pages.
