The global optical coating market was valued at $11.8 billion in 2020, and is projected to reach $24.0 billion by 2030, growing at a CAGR of 7.41% from 2021 to 2030.
An optical coating is a method of mixing a thin layer of films on optical components such as lenses and mirrors in order to enhance the reflection characteristics and transmission characteristics of the optical system. Optical coatings are usually stacked with different layers and dielectric materials such as titanium dioxide, silica, aluminum, and the like in accordance with each other according to the final application. It can be used to support anti-reflective coating, high reflection coating, and transparent conductive coating concepts. Optical coatings are comprehensively applicable to home appliances, the automotive industry, solar panels, and some other sectors. Optical coatings can be applied to multiple substrates such as plastics, metals, polymers, glass, and others, which can improve light transmittance and reduce reflection.
The global optical coating market is driven primarily by the growth in end-use industries such as electrical & electronics, the telecommunication industry, and the medical sector. In addition, it is widely used in lenses, optical fiber end faces, astronomical observations, laser processing machines, and other optical elements. According to the International Organization of Motor Vehicle Manufacturers, the global production of automobiles drastically surged from 31.22 million in January-June 2020, at a rate of 29.19% to 40.34 million during January-June 2021. Furthermore, according to the latest data published by Stockholm International Peace Research Institute, which tracks military expenditure and arms trading globally, the global military expenditure increased to $1,981 billion in 2020, an increase of 2.6% from the year 2019. Owing to rise in investment in 5G and other communications infrastructure, as well as increased data traffic as a result of the COVID-19 pandemic, the industry is further growing. Asia-Pacific dominates the global Optical Coatings market due to growth in the electronics and automotive sectors in the region. According to the Department of Promotion Industry and Internal Trade (DPIIT), the Indian Automobiles market invested around $ 24.5 million worth of FDI (Foreign Direct Investment) in the year 2020. Rise in demand for optical coatings from the solar sector drives the market growth. For instance, according to the Global Solar Council, 18,070 MV of total solar PV capacity has been installed in Vietnam during the year 2020. It is expected to reach up to 36,774 MV of solar PV capacity by the end of 2025.
The optical coating market is segmented on the basis of type, technology, end-use industry, and region.
By type, the optical coating market is divided into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and partial reflection coatings. By technology, the market is classified into vacuum deposition, E-beam evaporation technology, sputtering technology, and ion-assisted deposition technologies. By end-use industry, the market is divided into electronics and semiconductor, military and defense, automotive, construction, solar, medical and others. By region, the optical coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for the highest CAGR, followed by LAMEA, North America, and Europe. The high adoption of optical coating products in the region is anticipated to continue to bolster the optical coating market size, due to the presence of huge population base, increased investment in the infrastructure, and presence of many developing countries in this region.
The key players operating in the global Optical coating market are E.I. Dupont De Nemours Company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems. Other key players (not profiled in report) in the optical coating industry value chain are Optics Balzers, Zygo Corporation, and Optical Coating Technologies., etc. that are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for the optical coating market during the forecast period.
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market. Optical coating manufacturers were affected in 2020 due to business shutdown mandates, social distancing norms, and limited local &state government office activities. COVID-19 had a major impact on the aerospace & defense industry, which is one of the largest end-users of optical coatings. The lack of operations during the COVID-19 timeframe has resulted in a decrease in optical coatings consumption in 2020.
An optical coating is a method of mixing a thin layer of films on optical components such as lenses and mirrors in order to enhance the reflection characteristics and transmission characteristics of the optical system. Optical coatings are usually stacked with different layers and dielectric materials such as titanium dioxide, silica, aluminum, and the like in accordance with each other according to the final application. It can be used to support anti-reflective coating, high reflection coating, and transparent conductive coating concepts. Optical coatings are comprehensively applicable to home appliances, the automotive industry, solar panels, and some other sectors. Optical coatings can be applied to multiple substrates such as plastics, metals, polymers, glass, and others, which can improve light transmittance and reduce reflection.
The global optical coating market is driven primarily by the growth in end-use industries such as electrical & electronics, the telecommunication industry, and the medical sector. In addition, it is widely used in lenses, optical fiber end faces, astronomical observations, laser processing machines, and other optical elements. According to the International Organization of Motor Vehicle Manufacturers, the global production of automobiles drastically surged from 31.22 million in January-June 2020, at a rate of 29.19% to 40.34 million during January-June 2021. Furthermore, according to the latest data published by Stockholm International Peace Research Institute, which tracks military expenditure and arms trading globally, the global military expenditure increased to $1,981 billion in 2020, an increase of 2.6% from the year 2019. Owing to rise in investment in 5G and other communications infrastructure, as well as increased data traffic as a result of the COVID-19 pandemic, the industry is further growing. Asia-Pacific dominates the global Optical Coatings market due to growth in the electronics and automotive sectors in the region. According to the Department of Promotion Industry and Internal Trade (DPIIT), the Indian Automobiles market invested around $ 24.5 million worth of FDI (Foreign Direct Investment) in the year 2020. Rise in demand for optical coatings from the solar sector drives the market growth. For instance, according to the Global Solar Council, 18,070 MV of total solar PV capacity has been installed in Vietnam during the year 2020. It is expected to reach up to 36,774 MV of solar PV capacity by the end of 2025.
The optical coating market is segmented on the basis of type, technology, end-use industry, and region.
By type, the optical coating market is divided into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and partial reflection coatings. By technology, the market is classified into vacuum deposition, E-beam evaporation technology, sputtering technology, and ion-assisted deposition technologies. By end-use industry, the market is divided into electronics and semiconductor, military and defense, automotive, construction, solar, medical and others. By region, the optical coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for the highest CAGR, followed by LAMEA, North America, and Europe. The high adoption of optical coating products in the region is anticipated to continue to bolster the optical coating market size, due to the presence of huge population base, increased investment in the infrastructure, and presence of many developing countries in this region.
The key players operating in the global Optical coating market are E.I. Dupont De Nemours Company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems. Other key players (not profiled in report) in the optical coating industry value chain are Optics Balzers, Zygo Corporation, and Optical Coating Technologies., etc. that are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for the optical coating market during the forecast period.
COVID-19 Impact Analysis
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market. Optical coating manufacturers were affected in 2020 due to business shutdown mandates, social distancing norms, and limited local &state government office activities. COVID-19 had a major impact on the aerospace & defense industry, which is one of the largest end-users of optical coatings. The lack of operations during the COVID-19 timeframe has resulted in a decrease in optical coatings consumption in 2020.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current optical coating market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
- An in-depth analysis of optical coating market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global optical coating market.
Key Market Segments
By Type
- Antireflection Coatings
- High Reflection Coatings
- Beamsplitter Coatings
- Transparent Conductive Coatings
- Electrochromic Coatings
- Filter Coatings
- Partial Reflection Coating
By Technology
- Vacuum Deposition Technology
- E Beam Evaporation Technology
- Sputtering Technology
- Ion assit deposition Technology
- Others
By End Use Industry
- Electronics and Semiconductor
- Military and Defense
- Automotive
- Construction
- Solar
- Medical
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Turkey
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Qatar
- Rest of LAMEA
Key Market Players
- II-IV OPTICAL SYSTEM
- ABRISA TECHNOLOGIES
- ARTEMIS OPTICAL LTD.
- E. I. DU PONT DE NEMOURS AND COMPANY
- INRAD OPTICS
- NEWPORT CORPORATION
- NIPPON SHEET GLASS CO.
- PPG INDUSTRIES
- REYNARD CORPORATION
- ZEISS GROUP
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OPTICAL COATING MARKET, BY TYPE
CHAPTER 5: OPTICAL COATING MARKET, BY TECHNOLOGY
CHAPTER 6: OPTICAL COATING MARKET, BY END USE INDUSTRY
CHAPTER 7: OPTICAL COATING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Optical Coating Market,' the optical coating market was valued at $11.8 billion in 2020, and is estimated to reach $24.0 billion by 2030, growing at a CAGR of 7.41% from 2021 to 2030.The optical coating is one or more thin layers of materials deposited on optical components such as mirrors or lenses, changing the method of reflecting and transmitting light. Optical coatings are well used in the aerospace and defense industry. Thin film technology has played an important role in solar power for indoor applications. Optical coatings, especially antireflective coatings, find use in various devices for monitoring and exploration tasks. In contrast to the materials used on the earth, the optical coating used for room applications should be extremely stable and durable as maintenance & depletion maintenance and physical replacement are not easy. With the use of space-based devices such as telescopes, satellites, and probes, the need for optical coatings is expected during the forecast period. In recent years, the high growth of small and nanosatellites has the growth of the optical coating used for those solar panels with their cameras and remote sensing devices. In addition to space applications, optics is often used for military operations. Target designator, guide system, vision system, and surveillance package are some of the most important application segments for optical coatings for military applications.
Worldwide optical coating has various applications such as semiconductors, high-temperature lamp hoses, telecommunications, and the optical & microelectronics industry. The optical coating used in the electronic device and the semiconductor industry must withstand high-temperature gradients and high heat transfer rates in rapid heat treatment, which usually applies to printed circuit board (PCB) coatings, ICs, and wafers to their characteristics. It is also used in agricultural electronics and touch screen industries. Consumer demand for electronic displays such as television and mobile device LCDs promotes the conductive coating industry. The existence of large-scale customer bases for electronic devices, optical wear, and the introduction of nanotechnology are expected to promote market growth.
Optical coating manufacturing processes include various raw materials such as oxides (aluminum, zirconium, titanium, selenium), fluoride (strontium, calcium, magnesium), metal (copper, gold, silver), and the like. The optical coating raw material market is very volatile and affects metal price fluctuations, affecting oxides such as TiO 2, indium, gold, copper, silver, etc. Raw materials, especially metals & oxide availability and prices may increase the cost of manufacturing costs. Indium is an important component used to produce transparent conductive coatings. The above essential factors reflect market growth.
The optical coating market is segmented on the basis of type, technology, end-use industry, and region.
By type, the optical coating market is divided into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and partial reflection coatings. By technology, the market is classified into vacuum deposition, E-beam evaporation technology, sputtering technology, and ion-assisted deposition technologies. By end-use industry, electronics and semiconductor, military and defense, automotive, construction, solar, medical and others. By region, the optical coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted highest CAGR, followed by LAMEA, North America, and Europe. The high adoption of optical coating products in the region is expected to continue to bolster the optical coating market size, due to the presence of huge population base, increased investment in the infrastructure, and presence of many developing countries in this region.
The key players operating in the global optical coating market are E.I. Dupont De Nemours Company, PPG Industries, Zeiss Group, Nippon Sheet Glass Co., Ltd., Abrisa Technologies, Newport Corporation, Inrad Optical, Inc., Reynad Corporation, Artemis Optical Ltd., and II-VI Optical Systems. Other key players (not profiled in report) in the optical coating industry value chain are Optics Balzers, Zygo Corporation, and Optical Coating Technologies., etc. are competing for the share of the market through product launch, joint venture, partnership, and expansion of the production capabilities to meet the future demand for Optical coating market during the forecast period.
Key findings of the Study
- By region, North America accounted for the largest market share in 2020.
- By type, antireflection segment held the largest market share in 2020.
- By technology, vacuum deposition segment held the largest market share in 2020.
- According to end-use industry, electronics & semiconductors segment held the largest market share in 2020.
IMPACT OF COVID-19 ON THE GLOBAL OPTICAL COATING MARKET
- Emergence of COVID-19 had less impact on growth of the global optical coating market during the pandemic outbreak period.
- This impact is mostly attributed to significant disruptions in the raw material transportation, unavailability of labor, and shutdown of many manufacturing industries.
- The decrease in demand for many non-essential products and shut down of manufacturing industries created a negative impact on the development of global optical coating market.
Companies Mentioned
- II-IV OPTICAL SYSTEM
- ABRISA TECHNOLOGIES
- ARTEMIS OPTICAL LTD.
- E. I. DU PONT DE NEMOURS AND COMPANY
- INRAD OPTICS
- NEWPORT CORPORATION
- NIPPON SHEET GLASS CO.
- PPG INDUSTRIES
- REYNARD CORPORATION
- ZEISS GROUP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 337 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 11.8 billion |
| Forecasted Market Value ( USD | $ 24 billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
