Optical Coating Market 2019 | Global Size, Segments, Growth and Trends by Forecast to 2023

Industry Overview

This MRFR report holds an objective outlook towards the global market for Optical Coatings highlighting the recent historical developments, current market trends and expected growth over the next five years. The market estimations in the report covers the expected growth of the market’s overall valuation from 2018 to 2023. The market perspective in the report breaks down the key elements of the Global Optical Coatings Market as well as delivers a commentary on relevant macro and micro-economic aspects. As a part of the analysis, it also covers a discussion on market prospects of popular optical coating types namely- anti-reflective coatings, beam-splitter coatings, electrochromic (EC) coatings, filter coatings (short-pass & long-pass, bandpass, notch filter, others), high reflective coatings, transparent conductive coatings, and partial reflection coatings. The scope of the research also extends to coating methods such as vacuum deposition/ evaporative deposition and sputter deposition. Coating materials discussed in the report include metallic materials and dielectric materials. The findings in the report also indicate that electronics & telecommunication, automotive, healthcare, aerospace & defense, and solar will remain among the key end-use industries for Optical Coatings during the assessment period. All the parameters of the market were examined under five major geographies- Europe, Asia Pacific, North America, the Middle East & Africa (MEA) and Latin America, with the respective country-level market sizes.

Players Covered

Edmund Optics Inc, Thorlabs inc, Angstrom Engineering Inc, Optiforms Inc, Abrisa Technologies, Carl Zeiss Jena GmbH, Inrad Optics, MKS Instruments, Reynard Corporation, PPG industries, Optics Balzers AG, AMETEK, II-VI Incorporation, DowDuPont Inc, Berliner Glas, Optical Coatings Japan

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Research Methodology

Market Research Future prepares its reports after conducting extensive analysis on the changing market trends. Comprehensive and reliable research methodologies are utilized for examining the key market divergences as well as identification of market opportunities and threats. A multi-level verification process ensures the generation of highly accurate market data. Statistical observations are finalized after a thorough investigation and analysis of all the market elements. The market facts and information gathered are verified through primary and secondary inputs that include extensive interviews with industry experts, whitepaper reference available in the public domain, and fact sheets of key players among others. Top-down and bottom-up approaches are consulted to reach to concrete conclusions on the market, ensuring optimum quality of the information.

Analysis Period

Base Year – 2017

Projection Period – From 2018 to 2024

Market Denomination – USD Million

Conversion Rate – Considered as per the respective financial years

Abstract

The market for Optical Coating is expected to grow from USD 7,964.8 Mn to over USD 11,700 Mn by the year 2023, indicating towards a healthy CAGR for the market during the review period. Optical coatings are used in a range of applications, which include anti-glare chemical resistance, UV resistance, and scratch & abrasion protection. Optical Coatings are being increasingly used by spectacle manufacturers to enhance the various properties of their products. Over the years, an array of new optical coatings have come up with specific applications. Industries such as automotive, electronics and telecommunication are prominent end-users of such coatings. The technological advancements in the optical coating fabrication is also a key force behind the rapid adoption for optical coating in the manufacturing sector.

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Optical Coating Market 2018 Industry, Analysis, Share, Growth, Trends, Supply Forecast to 2023

Optical Coatings 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.

Segmental Analysis

The Optical Coating Market is segmented on the basis of the Coating Method, Type, End-Use Industry, Coating Material and Region. On the Basis of Type, the market is segmented into beam-splitter coatings, anti-reflective coatings, electrochromic coatings, transparent conductive coatings, high-reflective coatings, partial reflective coatings, filter coatings, besides others. On the Basis of the Coating Method, the market is segmented into vacuum deposition/evaporation deposition, sputter deposition, and others. On the Basis of Coating Material, the market is segmented into dielectric materials and metallic materials. On the Basis of End-Use Industry, the market is segmented into automotive, aerospace & defense, healthcare, solar, electronics & telecommunication, and others. The Regions Covered in the Optical Coating Market is segmented into Europe, North America, Asia Pacific and Rest of the World.

Detailed Regional Analysis

The regional analysis of the optical coatings market encompasses regions such as Europe, North America, Asia Pacific and Rest of the World. The Asia Pacific region is the most substantial region in the market globally and is anticipated to grow at a maximum CAGR through the forecast period. The region has a high concentration of developing economies such as India, China, South Korea, and Japan. These nations are quickly urbanizing, and as such, there has been a clear change in the consumption and lifestyles patterns. The region has a well-established and rising manufacturing sector due to the reduced total operating costs in the region and the accessibility of educated, and reasonably cheap labor. The penetration of consumer electronic devices and increasing purchases and demand for automobiles are the other significant factors inspiring the development of optical coatings. The North American & European regions make up the second and third largest markets correspondingly and also have comparable growth & consumption patterns. The incidence of key market players in these regions and the progress in the technology of optical coatings have contributed considerably to fortifying these region’s market positions.

Competitive Analysis

The crucial success factors and players’ predilections are constantly growing by the strategies being used by market contenders. The alteration in the services and products is the principal factor escalating the market's efficiency and controlling the trends that are acquiring distinction in the market. Furthermore, the expansion of new products and services will add further impetus to the market growth. The improvement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The critical success factors and players’ predilections are progressively increasing by the strategies being used by market competitors. The progress patterns are revised in tandem to the customer preferences to realize maximum growth, and in the long run, profitability. In addition, the launch of new products and services will add additional impetus to the market progress.

The prominent contenders in the market are Angstrom Engineering Inc., Thorlabs Inc., Abrisa Technologies, Inrad Optics, Carl Zeiss Jena GmbH, Optical Coatings Japan,Edmund Optics Inc., Optiforms Inc., PPG Industries, MKS Instruments, Reynard Corporation, AMETEK, II-VI Incorporation, Optics Balzers AG, DowDuPont Inc., and Berliner Glas.

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Optical Coating Market | Research Insights, Business Outlook, Company Profiles, Trends and Forecast 2018-2023

The use of Optical Coatings to improve the transmission or reflection of light at the surface of an optic has increased the market’s size considerably in the past few years. The most common type of Optical Coating is an antireflection coating, which decreases unwanted reflections from surfaces and is used in an extensive range of applications comprising of photographic and ophthalmic lenses. The anti-reflection coatings are used on most of the refractive optics and are used to exploit throughput and decrease unwanted reflections. The Optical Coating Market which was valued currently at USD 7,964.8 million in 2017 and is estimated to touch revenues worth USD 11,788.3 million by the end of 2023 while expanding at a CAGR of 7.07 percent in the forecast period.

Demand for optical add-on products in consumer electronics together with the intensifying usage of advanced technological automotive is anticipated to boost the market’s demand in the forecast period. Additionally, increasing demand for a cleaner source of power generation, particularly solar energy, is likely to deliver a lucrative opportunity to market participants. Increasing government investments in setting up solar plants to meet the increasing energy demand, chiefly in emerging economies, is anticipated to augment the growth.  Growing demand for products to improve light transmissivity in optic and laser industry along with escalating sales of a smartphone with better user interference is projected to drive the demand in the duration of the forecast period. Furthermore, growing application of Optic Coatings in laser systems for defense and medical is projected to augment the market growth further. 

Moreover, surging demand for vacuum deposition technology in medical equipment & devices and increasing need for a renewable source of energy, especially solar energy, are creating new opportunities for the optical coating market.

Owing to the superior properties and several Optical Coating techniques, electronics & telecommunication and automotive industries are major end use applications in the optical coatings market globally. Mounting sales of smartphone together with ultra-high definition TV sales are gaining impetus, driven by an upsurge in consumer awareness and new, lower priced models being launched in the market which will further propel the market’s growth in the forecast period.

Segmental Analysis

The Optical Coating Market is segmented based on End-Use Industry, Type, Coating Method, and Coating Material. On basis of End-Use Industry, the market is segmented into healthcare, automotive, electronics & telecommunication, aerospace & defense, solar, and others. Amid these End-Use Industry, the electronics & telecommunication is controlling the market with over one-third shares. On the Basis of Coating Method, the market is segmented into sputter deposition (ion beam sputtering (IBS), vacuum deposition/ evaporative deposition (thermal evaporation, electron beam deposition/ electron beam evaporation), reactive sputtering,   ion assisted deposition (IAS), magnetron sputtering, plasma sputtering, gas flow sputtering), and others. The Vacuum Deposition/ Evaporative Deposition segment had accounted for the chief share of the market in 2017 and is projected to touch USD 3,833.7 million in revenue in the forecast period. The market is segmented on the basis on the type into beam-splitter coatings, anti-reflective coatings, filter coatings (short-pass & long-pass, notch filter, bandpass, others), electrochromic (EC) coatings, high reflective coatings, partial reflection coatings, transparent conductive coatings, and others. The anti-reflective coatings was leading the market in 2017, however the filter coatings segment is projected to grow at the maximum CAGR of 7.86 percent during the forecast period. The coating material segment of the market is segmented into dielectric materials and metallic materials. Among the coating materials, the metallic materials is attributed for the main market share, nonetheless during the forecast period dielectric materials is expected to develop at the highest CAGR of 7.57 percent.

Detailed Regional Analysis

The Optical Coating Market covers regions such as Latin America, North America, Europe, Asia-Pacific, and Middle East & Africa. The Asia Pacific region is expected to be the major market for optical coating in the duration of the forecast period. This is principally owing to the varying lifestyle of the people in this region and positive government policies adopted by the emerging markets such as India, China, and South Korea. The developing demand from the renewable energy sector, particularly from solar energy, is likely to fuel the Optical Coating Market during the forecast period. Following the APAC region, the North American region is the next major region in this market. The European region is another significant region in this market, which is closely following the North American market. Regions such as Middle East, Africa and Latin America on the other hand, hold comparatively limited shares in this market.

Competitive Analysis

The Optical Coating Market is characterized by the healthy competition among these players on account of the huge growth potential. The market has a substantial number of the established tier-1 and tier-2 companies, along with a considerable presence of small and medium scale industries. The key players functioning in the market for Optical Coating are Thorlabs inc, Edmund Optics Inc, Angstrom Engineering Inc, Optiforms Inc, Abrisa Technologies, Carl Zeiss Jena GmbH, Inrad Optics, Berliner Glas, Reynard Corporation, MKS Instruments, PPG industries, Optics Balzers AG, AMETEK, II-VI Incorporation, DowDuPont Inc, Optical Coatings Japan among others. 

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