Optical Coating Market Revenue Is Expected To Boost $19.70 Billion By 2022: Grand View Research Inc.

The global Optical Coating Market is expected to reach USD 19.70 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for smartphones, tablets and high resolution displays is expected to drive growth over the forecast period.

Rising utilization of consumer electronics coupled with technological advancement in this area is expected to augment demand over the next seven years. Optical coatings are used on glass surfaces which are further used in host of applications. Growing concern regarding energy efficient buildings has led to increased use of optical coatings in architectural glass. As per the LEED standards for green buildings, optical coatings play an important role in reducing energy consumption through thermal insulation and results in effective cooling and reduced costs. Favorable regulatory policies around the globe are expected to propel product demand in architectural glass applications over the forecast period. 

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U.S. Optical Coating Market volume, by application, 2015-2022 (Kilo Tons)

Further key findings from the report suggest:

• Anti-reflective segment is expected to grow at a CAGR of over 10.0% from 2015 to 2022 in terms of volume. Declining prices of smartphones and tablets, coupled with emergence of new technologies in terms of improved user interface is expected to drive demand over the forecast period. Anti-reflective coatings are being widely used in optics and laser industry which is expected to further propel growth over the next seven years.

• Solar application is expected to witness significant development owing to increasing investment to set up power plants particularly in emerging economies across the globe. In addition, government policies including grant of incentives and subsidies to promote development of alternate energy sources is expected to increase product consumption over the forecast period.

• North America accounted for a share of over 30.0% of the global market in terms of revenue. Consumer demand for emerging technologies is expected to propel the market growth. Continuous innovation and rising spending in military & defense industry for applications including night vision cameras, beam attenuators and range finding is expected to augment growth.

• Europe is expected to witness significant growth owing to rising use of optical coatings in automobile displays, car windows and headlamps. In addition, increasing middle class population coupled with rising requirement of affordable cars is expected to propel product market over the forecast period.

• Newport Corporation is involved in manufacturing of precision optics, sub-micron positioning system, vibration isolation and laser systems. The company acquired ILX Lightwave Corporation for USD 9.3 million in 2012 which has helped to expand its capabilities in photonics measurement and test. Similarly, in March 2014, PPG industries acquired Comex, an architectural coatings manufacturer in order to strengthen its position in the Mexican market.

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Grand View Research has segmented the global Optical Coating Market on the basis of product, application and region:

Global Optical Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

• Anti-reflective Coating

• Reflective Coating

• Filter Coating

• Conductive Coating

• Electrochromatic Coating

• Others

Global Optical Coating Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

• Consumer Electronics

• Solar

• Medical

• Architecture

• Aerospace & Defense

• Automotive

• Telecommunication

• Others

Global Optical Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

• North America

  • U.S.

• Europe

  • Germany

• Asia Pacific

  • China

• Latin America

  • Brazil

• Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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