Market Overview
The optical coating market is seeing positive growth trends primarily due to the increased usage of coatings on precision optics. Market reports connected with the chemicals and materials industry have been made accessible by Market Research Future who publishes reports on other sectors that have been published currently along with a report on this industry. The market is anticipated to demonstrate positive progress with the rise in the revenue levels from USD 7,964.8 Mn to around USD 11,700 Mn by the year 2023.
The growing call for refractive optics that can be used to maximize throughput and reduce unwanted reflections is motivating the development of the optical coating market. The broad variety of industries and optical systems, such as optical communications, energy control, and solar coatings are expected to provide leverage for substantial market growth in the forecast period. Increasing industrial demands have created an encouraging expansion scenario for the optical coating market in the upcoming forecast period.
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Market Potential and Pitfalls
The global Optical Coating Market is witnessing positive growth trends owing to the surging use of coatings on precision optics. The increasing call for refractive optics, which can be used to minimize unwanted reflections and increase throughput is encouraging the growth of optical coating market globally. Soaring demand for consumer electronics and constantly changing lifestyle of consumers are some of the major factors contributing to the market growth. Increasing focus on electricity generation through clean sources will further enhance the market growth.
Research and development of fabrication and material technologies are likely to augment the market growth across the globe. Surging demand for optical coatings for biomedical, genetic analysis, sensors, and micro-optical systems is further estimated to fuel the market growth. Moreover, increased prominence of optical systems in the defense sector is considered a major propelling factor of the market.
On the contrary, strict government norms, coupled with the concerns related to waste disposal, are considered to restrict the optical coating market growth in the foreseeable future.
Global Optical Coating Market: Segmental Analysis
The optical coating market has been segmented on the basis of type, coating method, coating material, and end use industry.
By type, the optical coating market is segmented into anti-reflective coatings, beam-splitter coatings, transparent conductive coatings, electrochromic coatings, partial reflective coatings, high-reflective coatings, filter coatings, and others. Of these, the anti-reflective coatings market is likely to command the largest share owing to its huge applicability in consumer electronics for display units, power, memory, and microprocessors. Moreover, soaring use of anti-reflective coatings as an anti-glare layer in kiosk displays, eyewear, video games, binoculars, and others are likely to drive the market in the segment.
By coating methods, the optical coating market is segmented into sputter deposition, vacuum deposition/evaporation deposition, and others.
By coating material, the market is classified into dielectric materials and metallic materials.
By end use industry, the market is segmented into aerospace & defense, automotive, solar, healthcare, electronics & telecommunication, and others.
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Regional Frontiers
Geographically, the optical coating market spans across Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
Considering the global scenario, Asia Pacific is considered the most substantial region for the optical coating market and is likely to expand at the highest CAGR in the foreseeable future. APAC has a strong presence of developing countries like South Korea, China, and Japan. These regions are rapidly urbanizing and thereby has resulted in changing consumption and lifestyle patterns. APAC also has the presence of a well-established and evolving manufacturing sector owing to low operating costs and accessibility of cheap and educated labor. Moreover, the proliferation of consumer electronic devices, coupled with the soaring purchase and demand for automobiles are some of the prime factors inspiring the market in the region.
North America and Europe bags the second and third spot respectively and have comparable consumption and growth patterns. The existence of major market players in these regions and the development of advanced technologies have contributed to fortifying the market positions of these regions.
Industry Updates
July 2019: TruTag Technologies, Inc. and Colorcon has recently executed a development agreement, which allows on-dose verification technology for tablets by combining silica-based micro tag authentication technology of TruTag with Colorcon’s expertise in film coating systems.
Competitive Dashboard
The players operating in the global optical coating market include Thorlabs Inc, Edmund Optics Inc, Optiforms Inc, Angstrom Engineering Inc, Carl Zeiss Jena GmbH, Abrisa Technologies, MKS Instruments, Inrad Optics, PPG Industries, Reynard Corporation, AMETEK, Optics Balzers AG, DowDuPont Inc, II-VI Incorporation, Berliner Glas, and Optical Coatings Japan.
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The Optical Coating Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the optical coating market includes Abrisa Technologies, Alluxa, Inc., Cascade Optical Corporation, Chroma Technology Corp., Inrad Optics, Janos Technology Inc, Newport Corporation, Optical Coatings Japan, PPG Industries, Schott AG, and Viavi Solutions.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Optical Coating Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/optical-coating-market/download-sampleMarket DynamicsRising consumer electronic and the high-resolution display product is driving the market of the optical coating.
In addition, increasing use of optically coated glass in the construction activity is projected to fuel the market growth.
On the other hand, volatile price of raw material is likely to hinder the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
