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Global Optical Coatings Market InsightDecember 29, 2021 Comments
The optical coatings is forecast to continue rising over the next four years. According to the World Knowledge Information (WKI) “Global Optical Coatings Professional Survey Report 2021, Forecast to 2026”,Due to the growing demand for optical coatings in industrial applications in emerging economies in the Asia-Pacific region, the optical coating market is growing rapidly. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 8.32% base on WKI regression analysis model.
“Although the application fields of optical coatings are increasing.” said Selena, Senior analyst, Chemical & Material Market Research Center in WKI. “Industry participants of optical coatings must consider technology, cost and versatility to adapt to the rapid development of the market.”
The continuous development of the electronics and semiconductor industries has increased the use of new generation wafers in semiconductors, which is expected to drive the demand for high-purity optical coatings.Due to the increasing global income level, the increasing demand for safe and convenient driving, the emergence of intelligent transportation systems, and the increasing demand for minimizing environmental pollution, the transportation terminal industry’s demand for automotive electronic products is increasing. Optical coatings are an important part of advanced automotive electronic systems and equipment. The emergence of advanced driver assistance systems, as well as communication technology and entertainment system functions, have also created opportunities for the optical coatings market.
There are still some factors that market participants must consider. For example, fluctuations in the price of raw materials are one of the main factors affecting the cost of the final product, leading to a decline in the profitability of manufacturers. This may limit market growth to a certain extent.Thus, cost will be one of the focuses of future optical coatings development.
The optical coatings market is highly fragmented in nature, with the top five participants occupying a major share of the market studied (in terms of revenue generated). Many coatings companies use their own technology to make optical coatings. In addition, market competition is extremely fierce, and major manufacturers have established strategic partnerships to expand their market share. Major companies include DuPont, Zeiss International, Newport., PPG Industries Inc ,Nippon Sheet Glass Co. Ltd.and others.
Segmentation of Optical Coatings Market:
According to the type, the optical coatings market is divided into anti-reflective coatings, conductive coatings, filter coatings, reflective coatings and others. Anti-reflective coatings dominate the optical coatings market. The factors attributable to the growth of anti-reflective coatings are related to the increasing demand for anti-reflective coatings used in the construction of photovoltaic solar panels, automotive displays, windows and GPS navigation systems. Due to the large-scale use of solar panels, it is expected that the conductive coatings sector will also experience significant growth during the forecast period. According to application classification, the market is divided into telecommunications, solar energy, consumer electronics, automotive, aerospace, defense and others. It is estimated that the consumer electronics sector will witness the highest compound annual growth rate during the forecast period. The factors attributable to the growth of consumer electronics products are related to the rapid growth in demand for smart phones. It is expected that the increase in consumer disposable income will drive the growth of market segments during the forecast period. In addition, technological advances in the areas of smart TVs and smart consumer devices are expected to have a positive impact on market growth during the forecast period.
Optical Coatings Market: Regional Analysis
In terms of geography, the global optical coatings market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America dominates the market, occupies the largest market share, and is expected to grow at the highest compound annual growth rate during the forecast period. The growth in this region is attributable to the development of the solar energy industry in the United States and the increasing emphasis on the development of domestic industries. In terms of scale, the US electronics market is the largest market in the world. Due to the use of advanced technology, the increase in the number of R&D centers and the increase in consumer demand, it is expected to remain the market leader during the forecast period. Due to the pace of innovation, technological progress, and rapid development of R&D activities in the electronics industry, there is a great demand for newer and faster electronic products, which has prompted an increasing demand for optical coatings.
Largest share area：North America
Largest share country：the Unite States