Optical Coating Market Size & Analysis Report by Product, By Application and By Region – Global Opportunities & Forecast, 2022-2029
Optical Coating Market Size & Analysis Report by Product (Reflective Coating, Anti Reflective Coating, Conductive Coating and Others), By Application (Consumer Electronics, Solar, Telecommunications, Automotive, Aerospace & Defense, Healthcare and Others) and By Region
Analysis from GMI Research finds that the Optical Coating Market earned revenues of USD 14.5 billion in 2021 and forecast to touch USD 28.5 billion in 2029 will grow at a CAGR of 8.8%.
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Market Dynamic
Key Drivers and Emerging Trends
Some of the key drivers boosting the global optical coating market over the forecast period include the rising application of optical coatings in consumer electronics such as mobile phones, TV display screens, tablets, tube lights and bulbs, and others. Additionally, optical coating finds its use in various automotive applications like headlamps, tail lamps, interior lighting, sunroofs, among others. In addition to this, consumer’s preference for different types of spectacles and sunglasses to fulfil their eyewear and fashion needs and to get protection from UV rays is creating the need for reflective optical coating in eyewear that will drive the global optical coating market significantly. Furthermore, for heat retention and reduced energy consumption, anti-reflective coatings are widely used in green buildings. Moreover, according to the International Renewable Energy Agency, the total installed capacity of solar PV grids is expected to reach 2840 GW in the year 2030 from 480 GW in the year 2018. This will create demand for reflective optical coatings due to their high absorbing capacity in these grid panels and will play a vital role in the growth of the global optical coating market over the forecast period.
Restraint in the Optical Coating Market
However, fluctuations in the prices of raw materials such as silver, aluminium, titanium, among others, for optical coating might slow the growth of the global optical coating market.
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Product – Segment Analysis
Based on the product, an anti-reflective coating is expected to grow capture significant market growth in the global optical coating market during the forecast period. This is due to the wide range of applications of these coatings ranging from eyewear to automotive, among others. For instance, an anti-reflective coating is used in speedometer displays due to its high impact and abrasion resistance. Reflective coatings might also witness lucrative growth due to their use in photovoltaic cells and solar panels.
Application – Segment Analysis
Based on the application, consumer electronics is expected to witness the highest CAGR over the forecast period in the global optical coating market. This is owing to the application of these coatings in electronic wearables, GPS devices, LCD fabrication, among others. The solar sector is also expected to observe lucrative growth over the forecast period. This is due to the annual deployment of solar PVs from 94 GW in the year 2018 to 270 GW in the year 2030, according to International Renewable Energy Agency.
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Regional – Segment Analysis:
Based on the region, North America is expected to capture significant market growth in the global optical coating market over the forecast period. This is due to the growing potential for optical coatings used in the aerospace and defense segment, industrial machinery, and Healthcare devices. Also, USA is one of the biggest hubs for electronics and semiconductor manufacturing, and all these companies use anti reflective coatings in their laptops, PCs, processors among others. In addition, US is likely to grow with a double-digit growth rate over the forecast period.
Top Market Players
Various notable players operating in the market, include, Carl Zeiss Jena Gmbh., Cascade Optical Corp., Chroma Technology Corp., Inrad Optics, PPG Industries Inc., Schott AG, Berliner Glas, Umicore, Celestron, Edmund Optics, among others.
Key Developments:
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- In September 2020, EnPro Industries Inc. acquired Alluxa Inc., is an industrial technology company that provides optical coatings for various applications.
- In February 2019, Edmund Optics (EO), the premier provider of optical components, collaborated with II-VI Incorporated to provide delivery of Zinc Selenide optical components. Zinc Selenide (ZnSe) Plano-Convex Lenses, Zinc Selenide (ZnSe) Aspheric Lenses, CO2 Beam Expanders, and Lens Stress Analyzers. This collaboration made it easier than ever before to purchase optical components for infrared applications.
Segments covered in the Report:
The global optical coating market has been segmented based on product, application, and regions. Based on the product, the market is segmented reflective coating, anti-reflective coating, conductive coating, and others. Based on application, the market is segmented into consumer electronics, solar, telecommunications, automotive, aerospace & defense, healthcare and others.
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Key questions answered in this research report:
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- At what pace is global optical coating market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in optical coating market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global optical coating market?
- Which product generated maximum revenues in 2021 and identify the most promising product during the forecast period?
- What are the various application areas of global optical coating market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Revenues (2021) |
USD 14.5 billion |
Market Base Year |
2021 |
Market Forecast Period |
2022-2029 |
Base Year & Forecast Units |
Revenues (USD Billion) |
Market Segment | By Product, By Application, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Carl Zeiss Jena Gmbh., Cascade Optical Corp., Chroma Technology Corp., Inrad Optics, PPG Industries Inc., Schott AG, Berliner Glas, Umicore, Celestron, Edmund Optics, among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Optical Coating Market by Product
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- Reflective Coating
- Anti-Reflective Coating
- Conductive Coating
- Others
Global Optical Coating Market by Application
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- Consumer Electronics
- Solar
- Telecommunications
- Automotive
- Aerospace & Defense
- Healthcare
- Others
Global Optical Coating Market by Region
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- North America Optical Coating Market (Option 1: As a part of the free 25% customization)
- By Product
- By Application
- US Market All-Up
- Canada Market All-Up
- Europe Optical Coating Market (Option 2: As a part of the free 25% customization)
- By Product
- By Application
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
- Asia-Pacific Optical Coating Market (Option 3: As a part of the free 25% customization)
- By Product
- By Application
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
- RoW Optical Coating Market (Option 4: As a part of the free 25% customization)
- By Product
- By Application
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
- North America Optical Coating Market (Option 1: As a part of the free 25% customization)
Major Players Operating in the Global Optical Coating Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Carl Zeiss Jena Gmbh
- Cascade Optical Corp.
- Chroma Technology Corp.
- Inrad Optics
- PPG Industries Inc.
- Schott AG
- Berliner Glas
- Umicore
- Celestron
- Edmund Optics
- Published Date: Sep-2021
- Report Format: Excel/PPT
- Report Code: UP2280-001001
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Optical Coating Market Size & Analysis Report by Product, By Application and By Region – Global Opportunities & Forecast, 2022-2029
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