Optical Coating Market Expected to Reach $24.0 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Optical Coating Market," The optical coating market was valued at $11.8 billion in 2020, and is estimated to reach $24.0 billion by 2030, growing at a CAGR of 7.41% from 2021 to 2030.

The optical coating is one or more thin layers of materials deposited on optical components such as mirrors or lenses, changing the method of reflecting and transmitting light. Optical coatings are well used in the aerospace and defense industry. Thin film technology has played an important role in solar power for indoor applications. Optical coatings, especially antireflective coatings, find use in various devices for monitoring and exploration tasks. In contrast to the materials used on the earth, the optical coating used for room applications should be extremely stable and durable as maintenance & depletion maintenance and physical replacement are not easy. With the use of space-based devices such as telescopes, satellites, and probes, the need for optical coatings is expected during the forecast period. In recent years, the high growth of small and nanosatellites has the growth of the optical coating used for those solar panels with their cameras and remote sensing devices. In addition to space applications, optics is often used for military operations. Target designator, guide system, vision system, and surveillance package are some of the most important application segments for optical coatings for military applications.

Worldwide optical coating has various applications such as semiconductors, high-temperature lamp hoses, telecommunications, and the optical & microelectronics industry. The optical coating used in the electronic device and the semiconductor industry must withstand high-temperature gradients and high heat transfer rates in rapid heat treatment, which usually applies to printed circuit board (PCB) coatings, ICs, and wafers to their characteristics. It is also used in agricultural electronics and touch screen industries. Consumer demand for electronic displays such as television and mobile device LCDs promotes the conductive coating industry. The existence of large-scale customer bases for electronic devices, optical wear, and the introduction of nanotechnology are expected to promote market growth.

Optical coating manufacturing processes include various raw materials such as oxides (aluminum, zirconium, titanium, selenium), fluoride (strontium, calcium, magnesium), metal (copper, gold, silver), and the like. The optical coating raw material market is very volatile and affects metal price fluctuations, affecting oxides such as TiO 2, indium, gold, copper, silver, etc. Raw materials, especially metals & oxide availability and prices may increase the cost of manufacturing costs. Indium is an important component used to produce transparent conductive coatings. The above essential factors reflect market growth.

The optical coating market is segmented on the basis of type, technology, end-use industry, and region.

By type, the optical coating market is divided into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and partial reflection coatings. By technology, the market is classified into vacuum deposition, E-beam evaporation technology, sputtering technology, and ion-assisted deposition technologies. By end-use industry, electronics and semiconductor, military and defense, automotive, construction, solar, medical and others. By region, the optical coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted highest CAGR, followed by LAMEA, North America, and Europe. The high adoption of optical coating products in the region is expected to continue to bolster the optical coating market size, due to the presence of huge population base, increased investment in the infrastructure, and presence of many developing countries in this region.

The key players operating in the global optical coating market are E.I. Dupont De Nemours Company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems. Other key players (not profiled in report) in the optical coating industry value chain are Optics Balzers, Zygo Corporation, and Optical Coating Technologies., etc. are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for Optical coating market during the forecast period.

Key findings of the study

• By region, North America accounted for the largest market share in 2020.
• By type, antireflection segment held the largest market share in 2020.
• By technology, vacuum deposition segment held the largest market share in 2020.
• According to end-use industry, electronics & semiconductors segment held the largest market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL OPTICAL COATING MARKET

• Emergence of COVID-19 had less impact on growth of the global optical coating market during the pandemic outbreak period.
• This impact is mostly attributed to significant disruptions in the raw material transportation, unavailability of labor, and shutdown of many manufacturing industries.
• The decrease in demand for many non-essential products and shut down of manufacturing industries created a negative impact on the development of global optical coating market.