Global Optical Coating Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2028
Optical Coating Market Growth & Trends The global optical coating market size is expected to reach USD 31.4 billion by 2028, registering a CAGR of 9.2% over the forecast period, according to a new study by Grand View Research, Inc. The market is estimated to be driven by the growing smart consumer electronics industry across the globe. Consumer electronic devices include smartphones, tablets, phablets, smartwatches, and smart televisions. Rapid urbanization resulting in changes in consumer lifestyles is expected to create lucrative opportunities for smart consumer electronic devices. This is projected to lead to increased product utilization as they have a superior optical display and high impact resistance. Asia Pacific is a major market for consumer electronics owing to the presence of a large number of key players. The demand in the region has shifted toward Southeast Asian countries, a trend that is likely to continue over the forecast period. A rising focus on electricity generation through clean sources is also expected to drive product demand. However, the global COVID-19 pandemic is severely affecting the manufacturing industries. This, in turn, is anticipated to negatively impact the market growth in various applications, such as consumer electronics, automotive, aerospace & defense, solar, and architecture. Moreover, the pandemic led to order cancellations and shipping complications throughout the global industry. The reflective products segment is anticipated to register the fastest CAGR over the forecast period due to the rising usage of these products for roofing applications in the construction industry, as they prevent direct sunlight exposure and reduce overall cooling costs.
Browse full report with Table of Content (PDF with All Related Graph and Chart) @: https://www.grandviewresearch.com/industry-analysis/optical-coatings-industry