Optical Coating Market: Solar Application Segment Is Expected To Witness Significant Growth

 Optical Coating Industry Overview

The global optical coating market size was valued at USD 17.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of more than 9.2% from 2022 to 2030. Recent technological advancements in the field of optical deposition techniques and fabrication coupled with rising demand for efficient optical devices in end-use applications are expected to drive the market over the forecast period. Optical coatings are being increasingly used in numerous applications including architecture, consumer electronics, solar panels, automotive, medical, telecommunication, and military and defense.

The rapid growth of the solar PV market, driven by the increasing focus on the generation of clean energy, and rising demand for consumer electronics is expected to fuel the market growth over the forecast period. Reflective coatings are mainly used in construction, telecommunication, and space applications. The growing use of reflective coatings in green buildings for heat retention and reducing energy consumption is expected to drive its demand over the forecast period. In addition, increasing usage of handheld consoles, coupled with rising demand for portable consumer electronics, is expected to propel market growth over the forecast period.

Price volatility of raw materials is one of the major factors affecting the prices of optical coatings. It leads to a decrease in profitability for manufacturers and increases the market costs of optical coatings, thus restraining market growth. Although prices of metals have witnessed a declining trend over the past few years, sudden variations in prices can lead to a negative impact, thus affecting the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Optical Coating market

 

Changes in the price of precious metals used for high-end applications, especially gold and platinum, significantly affect the overall cost of the application, thus impacting the demand for optical coatings. Furthermore, the recent outbreak of COVID-19 is hampering the demand for optical coatings in various applications including automotive, telecommunication, solar, aerospace and defense, architecture, and others owing to the stalled manufacturing activities, restrictions in supply, and transportation, and economic slowdown across the globe.


Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.

  • Powder Coatings Market - The global powder coatings market size was valued at USD 11.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2%. The emerging economies of Asia Pacific and MEA regions have witnessed strong growth in non-residential sectors including consumer goods, IT, telecom, and retail resulting in growth in product demand.

 

  • Iron Oxide Pigments Market - The global iron oxide pigments market size was valued at USD 2.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. The rapidly growing construction industry across emerging nations is expected to be the key growth factor for the market over the forecast period.

 

Optical Coating Market Segmentation

Grand View Research has segmented the global optical coatings market on the basis of product, application, and region:

Optical Coatings Product Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Anti-Reflective Coatings
  • Reflective Coatings
  • Filter Coatings
  • Conductive Coatings
  • Electrochromic Coatings
  • Others

Optical Coatings Application Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Consumer Electronics
  • Solar
  • Medical
  • Architecture
  • Aerospace & Defense
  • Automotive
  • Telecommunication
  • Others

Optical Coatings Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Key Companies profiled:

Some of the prominent players in the optical coating market include:

  • Alluxa, Inc.
  • Cascade Optical Corporation
  • Chroma Technology Corp.
  • Inrad Optics
  • Optical Coatings Japan
  • PPG Industries Inc.
  • Viavi Solutions
  • Schott AG
  • Abrisa Technologies
  • Berliner Glas

 

Order a free sample PDF of the Optical Coating Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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