According to research conducted by Future Market Insights on the optical coating market, demand is estimated to reach a valuation of US$ 22,598.7 Mn by the end of the assessment period. The Global Optical Coating Market is expected to grow at a rapid pace during the forecast period, with a growth rate of 8.8% owing to consistent demand from end uses such as consumer electronics, automotive, lenses & eyewear and others. The market for optical coatings is being boosted by rising spending in the defense sector and rising demand for optical coatings from the electronics and semiconductor industries. The market is also anticipated to develop as optical coatings find more uses in the aerospace industry. The AR coatings market section of the optical coatings market commands a sizeable market share in the entire optical coating industry due to its capacity to provide high-quality coatings with a high degree of transmission and low reflection. Market players are making huge R&D investments to investigate new optical coating applications in aerospace and defence equipment, medical industry, and automotive industry. Additional significant market players are competing for the top spot in the market by developing technology-driven breakthroughs in optical processes. The market for optical coatings is being driven by the quick development of numerous end-use sectors and the expanding popularity of creative designs for eyewear and consumer devices. “Growing Consumption of Optical Coating coupled with increasing utilization of consumer electronics, lenses & eyewear, optical coating is expected to drive the market during the projected period where as key market player are significantly spending in R&D to explore the optical coating application in multiple end-use industry ,” said an analyst at FMI. Key Takeaways from Optical Coatings Market Study
Demand for AR coating to witness a growth outlook of around 8.2% over the coming assessment period. Vacuum deposition to remain key technology of optical coating accounting for around 50% of the volume consumption. Consumer Electronics and Lenses & Eyewear to remain a key application segment and this industry is expected to grow at a significant rate over the forecast period. The optical coatings market is being driven by the quickly expanding demand from a variety of end-use sectors and the expanding popularity of stylish designs for eyewear and consumer devices. The market for optical coatings is expanding because of rising demand from the electronics and semiconductor industries as well as rising spending in the defense industry.
Competitive Landscape The Global Optical Coatings market is fragmented with the presence of some dominant key market players. These players are holding less than 25% of the market share. Some of the top