At 7.50% CAGR, Optical Coatings Market Size Worth US$ 21.5 Billion by 2027
IMARC Group has recently released a new research study titled, 'Optical Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,' offers a comprehensive…
IMARC Group has recently released a new research study titled, 'Optical Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,' offers a comprehensive analysis of the industry, which comprises insights on the optical coatings market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
What is the optical coating market growth?
The global optical coatings market size reached US$ 13.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.5 Billion by 2027 exhibiting a CAGR of 7.50% during 2022-2027.
What is Optical Coatings?
Optical coatings are a combination of thin-film layers that produce an interference effect to improve the transmission and light reflection properties of an optical system. They are generally designed for specific incident angles and polarization of light, including P-polarized, S-polarized, and random polarization. They can control light transmission and reflection via optical interference. They also help reduce ghosting and increase reflectance across a wide range of wavelengths. As a result, optical coatings find extensive applications in rearview mirrors, motion detectors, camera systems, rain sensors, headlight lens systems, and lighting reflectors across the globe.
What are the major market drivers in the optical coatings market?
The global optical coatings market is primarily driven by the rising product utilization to withstand high-temperature gradients and high heat transfer rates in rapid thermal processing. Moreover, there is a rise in the use of optical coatings in green buildings to reduce energy consumption and heat retention. In line with this, the escalating sales of portable consumer electronics across the globe are positively influencing the market growth. Additionally, the increasing demand for advanced automotive electronics for a convenient and safe drive has catalyzed market growth. Besides this, the rising use of anti-reflective (AR) products in the production of automotive displays, windows, photovoltaic (PV) panels, and global positioning systems (GPS) is another major growth-inducing factor. Furthermore, the rising focus of key players on new product development, mergers and acquisitions (M&As), and collaboration to increase overall profitability is contributing to the market growth. Other factors, including heavy government investments in solar energy generation, development of alternate energy sources, and rapid expansion of the electronics and semiconductor industries, are also anticipated to drive the market further.
Optical Coatings Market Report Scope
Market size value in 2021
US$ 13.7 Billion
Market forecast in 2027
US$ 21.5 Billion
CAGR of 7.50% from 2022 to 2027
Base year for estimation
The report has segmented the market on the basis of region, type, technology and end use industry. • Anti-reflective Coatings • Electrochromic Coatings • Ion-Assisted Deposition Breakup by End Use Industry:
• Electronics and Semiconductor • Automotive and Transportation • Construction and Infrastructure Who are the major manufacturers of optical coatings market?
List of Major Key Players: The major players in the market are
Artemis Optical Limited
Carl Zeiss AG
DuPont de Nemours Inc.
Edmund Optics Inc.
Inrad Optics Inc.
Newport Corporation (MKS Instruments Inc.)
Nippon Sheet Glass Co. Ltd.
PPG Industries Inc.
Zygo Corporation (Ametek Inc.)
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