CHICAGO, Aug. 2, 2023 /PRNewswire/ -- The report "Optical Coatings Market by Technology (Vacuum Deposition, E-Beam Evaporation, Sputtering Process, and Ion Assisted Deposition (IAD)), Type, End-Use Industry, and Region (APAC, North America, Europe, and Rest of World) - Global Forecasts to 2028", is projected to grow from USD 13.2 billion in 2023 to USD 19.6 billion by 2028, at a CAGR of 8.2% during the forecast period. The optical coatings market is witnessing high growth owing to increasing demand for renewable energy applications and emerging demand for optical coatings from APAC.
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Vacuum Deposition is the largest technology segment of the optical coatings market.
In the optical coatings market, the technologies used include vacuum deposition, E-beam evaporation, sputtering process, and ion-assisted deposition (IAD). Vacuum deposition is the dominant technology, accounting for the largest market share. This is due to its advantages such as room temperature curing, enhanced reliability, and improved thermal and mechanical strength of electronic devices.
AR coatings are the largest type of segment of the optical coatings market.
The optical coatings market is categorized into various types, including AR coatings, high reflective coatings, transparent conductive coatings, filter coatings, beam splitter coatings, EC coatings, and others. Among these, AR coatings dominate the market due to their ability to deliver high-quality coatings with low reflection power and high transmission power on components such as lenses, mirrors, and display screens. The increasing demand for AR coatings in industrial and consumer applications is driving the growth of this segment in the global optical coatings market.
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Electronics & semiconductors is the largest end-use industry segment of the optical coatings market.
The optical coatings market is categorized based on end-use industries, including electronics & semiconductors, military & defense, transportation, telecom/optical communication, infrastructure, solar power, medical, and others. Among these, the electronics & semiconductor industry holds a significant market share. This is attributed to the rising demand for durable and high dielectric strength coating layers in photovoltaic cells, electronics assemblies, ICs, and other optoelectronic devices. The growth of the optical coatings market in the electronics & semiconductor sector is driven by these factors.
North America is the largest market for optical coatings market.
During the forecast period, North America emerges as the largest market for optical coatings. This growth is driven by factors such as the rising demand from the electronics & semiconductor industry and the active involvement of government bodies and key players in promoting the commercialization of optical coatings in the region. Additionally, stringent environmental and government regulations, including limits on Volatile Organic Compounds (VOCs) in Architectural and Industrial Maintenance (AIM) Coatings, as well as regulations such as the United States Munitions List (USML) and International Traffic in Arms Regulations (ITAR) governing optical technology and coating exports, further contribute to the market expansion of optical coatings in North America.
The Key Players included are DuPont (US), PPG Industries Ohio, Inc. (US), Nippon Sheet Glass Co., Ltd. (Japan), ZEISS Group (Germany), Newport Corporation (US), Inrad Optics, Inc. (US), Artemis Optical Limited (England), Abrisa Technologies (US), Reynard Corporation (US), Coherent Corp. (US) and others.
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