Dallas, Texas, April 09, 2019 (GLOBE NEWSWIRE) -- Technologically enhanced manufacturing and development of advanced components to propel the demand for optical coatings across electronics, telecommunications, automotive, healthcare and energy industries
The global optical coatings market volume is projected to witness significant growth, rising with a CAGR of 11.4% over the forecast period. The market was valued at USD 13.97 billion in 2018. Next generation innovations such as 5G technology, fiber networks using optical coatings, growing automation in the automotive industries are the key factors to drive optical coatings demand over the forecast period.
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The market research report on optical coatings market assesses the market demand, use cases and trending scenario for the period ranging from 2015 to 2025. The report highlights the historic trends from 2015 to 2017 and market forecast from 2019 to 2025. The report studies the current status and future prospects of the market at global as well as country level. The global optical coatings market is segmented on the basis of product type, application and geography.
The report examines various aspects of the optical coatings industry by assessing the market using value chain analysis, PESTEL analysis and Porter’s Five Forces analysis. The report includes a qualitative narrative on market drivers, market restraints and key industry trends of the optical coatings industry. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local manufacturers.
The “Global Optical Coatings Market Size, By Product (Anti-Reflective Coatings, Reflective Coatings, Filter Coatings, Conductive Coatings, Electrochromic Coatings and Others), By Application (Consumer goods and electronics, Solar, Medical, Architecture, Aerospace & Defense, Automotive and Telecommunication) and By Region (North America, Europe, Asia Pacific, Latin America and MEA) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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Optical coatings are the coatings applied to an optical component in order to modify the incident or the transmitted light. With the growing usage of optical components across various end use segments, the optical coatings are widely applied in electronic components, medical devices, solar energy, telecommunication, automotive industry among others. Advancements in optical deposition technologies coupled with innovative fabrication technologies has led to increased demand from the end use industries. Growth in use of optical fibers in transmission lines for communication along with increasing adoption of 5G technology is projected to augment the demand for optical coatings in near future. Furthermore, growing usage of optical coatings in autonomous cars and solar components is further projected to propel the optical coatings demand in future.
By product type, the optical coatings market is segmented as anti-reflective coatings, reflective coatings, filter coatings, conductive coatings, electrochromic coatings among others. Anti-reflective coatings is projected to dominate the market with a share of ~30% in 2018. Anti-reflective coatings find usage across several industries including laser, imaging systems, solar energy, telecommunication, semiconductors and consumer electronics. By application, consumer goods and electronics is projected to dominate the global optical coatings industry whereas telecommunication sector is projected to witness fastest growth rate with CAGR of 12.8% over the forecast period. Growing usage of optical coating in smart devices to improve components such as touch sensing, display capabilities is projected to open new avenues of opportunity in the market over the forecast period.
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On the basis of regional analysis of optical coatings industry, North America is projected to dominate the market with a share of ~40% over the forecast period. High demand for technologically advanced products in consumer electronics is one of the key factor to support demand. Also, strong healthcare spending in the U.S. is further projected to augment the demand for advanced medical devices, thus supporting optical coatings growth over the forecast period. Asia Pacific is regarded as the key growth region with CAGR of 10.3% over the forecast period owing to high demand in consumer electronics and telecomm sector.
The global optical coatings industry is a highly fragmented industry with strong competition among the global and regional players. These players aim to gain an edge over the other players through innovative product development by investing high in R&D along with player acquisitions. In July 2018, Excelitas Technologies Corp. acquired Research Electro Optics (REO) (U.S.) which is a manufacturer high-precision optical components in order to increase its product portfolio and customer base.
Some of the key players in the global optical coatings market are Alluxa, Janos Technology Inc., Abrisa Technologies, E.I. Dupont De Nemours Company, Zeiss Group, Inrad Optical, Inc, Chroma Technology Corp, Cascade Optical Corporation, Schott AG, Newport Corporation and PPG industries.
Major points from Table of Contents: 1. Executive Summary 2. Research Methodology 3. Market Outlook 4. Global Optical Coating Market Overview, By Application 5. Global Optical Coating Market Overview, By Product 6. Global Optical Coating Market Overview, By Region 7. Company Profiles Continued…
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