Global Optical Coatings Market Outlook 2027

Global Optical Coatings Market Analysis - 2018-2027

Optical Coatings are coatings that can be deposited on variety of surfaces to enhance its transmission and reflectance properties. These coatings, which are known to have greater quality, are deposited on the surface of objects using specialized deposition methods. The global optical coatings market is anticipated to record a CAGR of 8.3% over the forecast period, i.e. 2020-2027. Factors such as rising use of optical coatings for military operations, which include target designators, vision systems, guidance systems and surveillance packages amongst others, coupled with emerging applications of thin film optical coatings in power generation (photovoltaics) for space applications, and rising applications of optical coatings in the growing solar industry are anticipated to promote significantly towards the growth of the global optical coatings market. According to the statistics by the International Energy Agency (IEA), net global solar PV capacity added in the United States in the year 2018 was 10.4 GW, and that in the European Union was 8.2 GW.

The optical coatings market consists of various segments that are segmented by product type, technology, end-user and by region. The product type segment is sub-divided into filter coatings, reflective coatings, anti-reflective coatings, conductive coatings and others. Out of these, the conductive coatings, which has a market value of USD 1471.5 million in the year 2018 is anticipated to grow with the highest CAGR of 9.2% over the forecast period. On the basis of technology, the Atomic Layer Deposition segment is anticipated to grow with the highest CAGR during the forecast period. Additionally, by end user, the Consumer Electronics & Semiconductors segment is anticipated to grow with a CAGR of 8.9% during the forecast period.

Based on Region, the global optical coatings market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for 22.4% share in the year 2018, is estimated to witness the highest CAGR of 9.1% over the forecast period owing to the contribution of end user industries, such as consumer electronics, automotive and renewable energy in nations such as China, India, Japan, Australia and Southeast Asian countries.

Some of the key industry leaders in the global optical coatings market are SCHOTT AG, ZEISS International, PPG Industries Inc., Viavi Solutions, Inc., Alluxa, Inrad Optics, Optics Balzers, Cascade Optical Corporation, Abrisa Technologies and Newport Corporation.