Optical Coatings Market - Growth, Trends, and Forecast (2020 - 2025)

Optical Coatings Market - Growth, Trends, and Forecast (2020 - 2025)

Market Overview

The market for optical coatings is expected to grow at a CAGR of more than 8% during the forecast period. Major factors driving the market studied are growing demand from the solar power sector and technological advancements in the optical coatings fabrication process.

  • Increasing applications in different end-user industries is expected to grow during the forecast period.
  • Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
Key Market Trends

Anti-reflective (AR) coatings to Dominate the Market
  • Anti-reflective (AR) coatings are one of the most widely consumed coatings on lenses, where less reflection is required. AR coatings are applied through the ion-beam sputtering process. These coatings increase the efficiency of transmission by decreasing the Fresnel reflections of the lens or on an applied surface.
  • AR coatings are resistant to physical and environmental damage, as compared to other coatings. In addition, they serve a wide range of applications, ranging from general use spectacles to astronomy applications.
  • Anti-reflection coatings are also largely preferred for laser operations. These are very beneficial on high-index lenses that reflect more light than the regular lenses. AR coatings reflect almost 50% more light hitting the lens than normal coatings, thus, decreasing the damage to eyes.
  • AR coatings can be further classified on the basis of application, as single AR coating, double AR coating, triple AR coating, broadband AR coating, multiple AR coating, and wide-angle AR coating. These coatings are applied according to the wavelength area required.
  • However, the usage of coating outside the wavelength range may decrease the performance of the lens or the surface it is being applied.
  • Other end-user industries consuming AR coatings include construction, defense, and telecommunication. In defense operations, these coatings are used in windows of helicopters, cameras, and other vision equipment, including surveillance and target acquisition.
  • The Asia-Pacific region is growing rapidly in the fields of telecommunication, solar, and defense, thereby providing opportunities to the anti-reflective coatings segment. Moreover, the rapidly growing construction industry in Asia-Pacific is also likely to contribute to the growth of these coatings.
  • Europe possesses one of the largest markets for anti-reflective coatings, due to the established defense and solar energy market. The German defense industry is one of the largest defense industries across the world. In addition, the defense plan of expanding the team to a major extent is likely to augment the demand for various equipment used. This, in turn, is estimated to boost the demand for anti-reflective coatings in the next few years.
  • Hence, with such numerous applications of anti-reflective coatings in industries, like construction, defense, and telecommunication, the market for optical coatings is expected to witness positive growth during the forecast period.
China to Dominate the Asia-Pacific Region
  • China is expected to witness healthy growth in the demand for optical coatings during the forecast period, considering the expected noticeable growth of the automotive, construction, solar, electronics, and other industries in the country.
  • With the growth in such industries, the demand for optical coatings is expected to increase from these industries for varied applications.
  • China serves to be the largest producer of vehicles in the world. It is also the world's largest manufacturing economy and exporter of goods. The country‚Äôs major exports include automotive, electronics, semiconductors, etc.
  • China is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025. The target, if achieved, is likely to increase the share of electric vehicles to 20% of the total new car production for China, by 2025.
  • Furthermore, China stands to be the largest solar market in the world. The country has been investing substantially in order to expand its solar power capacity. During 2018, the country installed about 43 GW of solar power generation capacity. The solar market in the country is further likely to witness growth in the coming years, fueled by the increasing investments in floating solar power plants in the country.
  • Hence, all such favorable market conditions are expected to drive the demand for optical coatings for applications in the building and construction, automotive, solar, and other industries in the country, during the forecast period.
Competitive Landscape

The optical coatings market is a fragmented market. The major companies include 3M, Edmund Optics Inc., PPG Industries Inc, Nippon Sheet Glass & Co. Ltd., ZEISS International, among others.

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1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from the Solar Power Sector
4.1.2 Technological Advancements in Optical Coatings Fabrication Process
4.2 Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Product
5.1.1 Optical Filter Coatings
5.1.2 Anti-reflective Coatings
5.1.3 Transparent Conductive Coatings
5.1.4 Mirror Coatings (High Reflective)
5.1.5 Beam Splitter Coatings
5.2 Technology
5.2.1 Chemical Vapor Deposition
5.2.2 Ion-beam Sputtering
5.2.3 Plasma Sputtering
5.2.4 Atomic Layer Deposition
5.2.5 Sub-wavelength Structured Surfaces
5.3 End-user Industry
5.3.1 Aerospace and Defense
5.3.2 Electronics and Semiconductors
5.3.3 Telecommunications
5.3.4 Healthcare
5.3.5 Solar
5.3.6 Others
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico Rest of North America
5.4.3 Europe Germany United Kingdom Italy France Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Abrisa Technologies
6.4.3 AccuCoat Inc.
6.4.4 Align Optics
6.4.5 Artemis Optical Ltd
6.4.6 Berliner Glas Group
6.4.7 Buhler AG
6.4.8 Cilas
6.4.9 Denton Vacuum
6.4.10 Edmund Optics Inc.
6.4.11 FLIR Systems Inc.
6.4.12 Fosta-Tek Optics Inc.
6.4.13 Inrad Optics
6.4.14 Janos Tech
6.4.15 Laser Components
6.4.16 Laseroptik GmbH
6.4.17 Naneo Precision IBS Coatings GmbH
6.4.18 Newport Corporation
6.4.19 Nippon Sheet Glass & Co. Ltd
6.4.20 Northumbria Optical Coatings Ltd
6.4.21 Ophir Optronics Solutions Ltd
6.4.22 Optical Coatings Technologies
6.4.23 Optics Balzers AG
6.4.24 PPG Industries Inc.
6.4.25 Qioptiq (Excelitas Technologies Corp.)
6.4.26 Sigmakoki Co. Ltd
6.4.27 Schott AG
6.4.28 Viavi Solutions Inc.
6.4.29 ZEISS International
7.1 Increasing Applications in Different End-user Industries

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